LMC(SZ:002921)2022-08-24 16:00Financial Performance - The company's operating revenue for the first half of 2022 was CNY 645,349,868.73, representing a 10.06% increase compared to CNY 586,336,062.24 in the same period last year[22]. - The net profit attributable to shareholders decreased by 48.92% to CNY 24,595,324.17 from CNY 48,151,079.24 year-on-year[22]. - The net cash flow from operating activities dropped significantly by 78.46%, amounting to CNY 9,345,201.94 compared to CNY 43,379,414.97 in the previous year[22]. - Basic earnings per share fell by 56.92% to CNY 0.1976 from CNY 0.4587 in the same period last year[22]. - The weighted average return on net assets decreased to 2.10% from 5.57% year-on-year[22]. - The net profit after deducting non-recurring gains and losses decreased by 51.47% to CNY 21,977,092.09 from CNY 45,289,905.48 in the same period last year[22]. - The gross profit margin for the industrial segment was 16.24%, down from the previous year's margin, indicating pressure on profitability[57]. - The company reported a substantial increase in cash flow from financing activities, which surged by 1,727.80% to ¥379,520,367.12 from ¥20,763,727.81, attributed to funds raised from a private placement[53]. - The company reported a significant decline in the heavy truck and construction machinery market, leading to operational difficulties and reduced profitability due to macroeconomic factors and ongoing COVID-19 impacts[84]. - The company has faced increased cost pressures, including rising prices for raw materials, fuel, logistics, and labor, which have negatively impacted production capacity and profitability[84]. Assets and Liabilities - Total assets increased by 22.73% to CNY 2,252,266,303.35 from CNY 1,835,164,815.25 at the end of the previous year[22]. - The net assets attributable to shareholders rose by 41.51% to CNY 1,270,298,520.78 from CNY 897,703,152.00 at the end of the previous year[22]. - Cash and cash equivalents increased to 313,668,528.54, accounting for 13.93% of total assets, due to funds raised from a non-public stock issuance[62]. - Inventory stood at 388,020,404.41, representing 17.23% of total assets, with a slight decrease from the previous year[62]. - Fixed assets were valued at 627,416,657.53, making up 27.86% of total assets, reflecting a decrease in proportion compared to the previous year[62]. - Short-term borrowings increased to 308,839,029.17, accounting for 13.71% of total liabilities, showing a slight increase in proportion[62]. - The company has significant restricted assets totaling ¥203,475,603.29, primarily due to loan collateral[66]. - The company reported an increase in receivables financing during the reporting period[66]. Investment and Financing - The total investment amount for the reporting period was ¥101,527,224.14, a decrease of 38.90% compared to ¥166,157,686.28 in the same period last year[69]. - The company has ongoing projects with a total investment of ¥29,876,470.70 for precision component manufacturing, which is 81.65% of the planned investment[71]. - The company has also invested ¥4,780,359.24 in the technical center expansion project, achieving 53.62% of the planned investment[71]. - The total amount of funds raised from the initial public offering (IPO) was RMB 23,100 million, with a net amount of RMB 19,886.80 million after deducting various fees[78]. - The company raised RMB 26,000 million through the issuance of convertible bonds in 2020, with a net amount of RMB 25,073.87 million after fees[79]. - In 2022, the company raised RMB 42,370 million through a non-public offering, with a net amount of RMB 40,267.26 million after deducting issuance costs[80]. - The company temporarily invested RMB 20,000 million of idle funds in high-yield time deposits for cash management purposes[80]. - The total amount of raised funds used for projects was RMB 12,653.91 million, with a cumulative investment of RMB 49,857.16 million as of the reporting period[77]. Shareholder and Equity Information - The company issued 25,601,208 new ordinary shares in a private placement, increasing the total share capital from 106,082,008 to 131,683,216 shares[192]. - The total number of shares after the issuance increased to 131,683,216 shares, with 25,601,208 shares being subject to trading restrictions[152]. - The company’s shareholding structure remains unchanged post-issuance, with the controlling shareholder being Mr. Guo Yuanqiang[152]. - The company plans to repurchase shares with a total amount between RMB 30 million and RMB 60 million, at a maximum price of RMB 20 per share, within a 6-month period[163]. - As of June 30, 2022, the company repurchased 1,305,600 shares, representing 0.9915% of the total share capital, with a total expenditure of RMB 18,735,200.20[167]. - The company’s profit distribution plan for 2021 includes a cash dividend of RMB 3.50 per 10 shares, with no bonus shares issued[165]. - The company approved the release of 624,000 restricted shares, accounting for 0.4739% of the total share capital of 131,683,216 shares, effective from June 10, 2022[159]. Risk Management - The company has acknowledged potential risks and has outlined corresponding measures in the report[5]. - The company faces risks from the COVID-19 pandemic, which significantly impacts its export business, accounting for a large portion of revenue[95]. - Fluctuations in raw material prices, such as pig iron and aluminum ingots, can adversely affect production costs and operating profits if not managed properly[96]. - Energy price volatility, particularly for electricity and natural gas, poses a risk to production costs and operating results[97]. - Exchange rate fluctuations directly impact the profitability of export sales, necessitating timely price adjustments to mitigate risks[98]. - The competitive landscape in the casting industry remains intense, requiring the company to leverage its integrated supply chain and long-term customer relationships to maintain market position[101]. Environmental and Social Responsibility - The company has a complete waste gas and wastewater treatment plan, equipped with a full set of pollution control facilities, and the current operation status of pollution control facilities is good[112]. - The company reported a total emission of 1.505 tons of particulate matter, with a concentration of 2.55 mg/m³, which is below the emission standard of 1.505 tons[111]. - The company has installed online monitoring devices at major emission outlets to ensure compliance with environmental regulations[115]. - The company has implemented measures to reduce carbon emissions by adopting low-energy, high-efficiency equipment[118]. - The company has obtained ISO45001:2018 and ISO14001 certifications for occupational health and safety management and environmental management systems[120]. - The company has established a caring fund to assist employees facing sudden accidents or serious illnesses[120]. - The company strictly adheres to national and local environmental laws and regulations, continuously exploring and innovating in energy conservation and emission reduction[121]. - The company has conducted quarterly environmental hazard inspections and emergency drills to ensure environmental safety[114]. Corporate Governance - The company committed to timely, accurate, and complete information disclosure in compliance with relevant laws and regulations since its listing[119]. - The company's semi-annual report for 2022 has not been audited[127]. - There were no significant litigation or arbitration matters during the reporting period[129]. - The company did not engage in any related party transactions during the reporting period[130]. - The company did not have any major related party transactions or significant contracts during the reporting period[136].