WBC(SZ:200706)2021-08-23 16:00Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,081,064,853.66, representing a 20.56% increase compared to CNY 999,645,101.91 in the same period last year[21]. - The net profit attributable to shareholders was CNY 4,192,143.24, up 14.95% from CNY 3,647,082.19 in the previous year[21]. - The company's operating revenue for the reporting period was ¥1,081,064,853.66, representing a year-on-year increase of 20.56% compared to ¥896,732,234.86 in the same period last year[31]. - The company's net profit for the first half of 2021 was CNY 4,311,411.13, compared to CNY 1,616,737.14 in the same period of 2020, indicating a significant improvement in profitability[104]. - The total comprehensive income for the current period was CNY 3,647,082.19[120]. - The company reported a total investment in securities with a book value of 567.0 million and a fair value of 228.0 million, resulting in a loss of 155.62 million during the reporting period[40]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 56.70% to CNY 31,402,343.49, down from CNY 72,521,427.05 in the same period last year[21]. - The company's cash and cash equivalents net increase was ¥33,151,074.54, down 70.65% from ¥112,950,609.87, primarily due to declines in cash flows from operating, investing, and financing activities[31]. - The cash inflow from operating activities totaled CNY 718,874,428.42 in the first half of 2021, compared to CNY 593,044,359.52 in the same period of 2020, showing improved cash generation[110]. - The cash and cash equivalents at the end of the period amounted to ¥169,108,053.12, compared to ¥215,015,414.24 at the end of the same period last year, indicating a decline of 21.4%[114]. - The net increase in cash and cash equivalents for the first half of 2021 was ¥25,925,068.39, compared to an increase of ¥113,798,780.77 in the same period of 2020[114]. Operating Costs and Expenses - The company's operating costs increased by 23.21% to CNY 831,304,584.25, compared to CNY 777,634,037.79 in the same period last year[21]. - The operating costs for the first half of 2021 were CNY 1,006,724,605.05, compared to CNY 689,325,459.39 in the same period of 2020, representing a 46.1% increase[107]. - The company reported a decrease in sales expenses to CNY 52,975,165.53 in the first half of 2021, down from CNY 74,331,649.69 in the same period of 2020, indicating cost control measures[107]. Assets and Liabilities - The company's total assets increased by 6.84% to CNY 3,348,155,218.45, compared to CNY 3,133,942,842.94 at the end of the previous year[21]. - The total liabilities increased to CNY 2,245,948,809.31 as of June 30, 2021, compared to CNY 2,060,631,405.21 at the end of 2020[102]. - The company's current assets totaled CNY 2,713,201,812.35, compared to CNY 2,424,897,546.24 at the end of 2020, reflecting a growth of approximately 11.93%[96]. Research and Development - Research and development investment rose by 11.21% to ¥98,277,786.26, up from ¥88,374,018.61, indicating a commitment to innovation[31]. - The company reported a research and development expense of CNY 98,277,786.26 for the first half of 2021, compared to CNY 88,374,018.61 in the same period of 2020, reflecting a focus on innovation[104]. Shareholder Information - The total number of shares was 402,600,000, with 60.61% being unlisted circulating shares[81]. - The largest shareholder, Wafangdian Bearing Group Co., Ltd., holds 60.61% of the shares, totaling 244,000,000 shares[84]. - The company distributed CNY 32,208,000.00 to shareholders during the current period[122]. Risk Management - The company has outlined potential risks and countermeasures in its report, emphasizing the importance of investor awareness regarding these risks[6]. - The company faces significant risks including rising labor costs and high prices for raw materials, impacting profitability[44]. Corporate Governance and Compliance - The semi-annual financial report was not audited[61]. - The company did not experience any bankruptcy reorganization during the reporting period[62]. - There were no significant litigation or arbitration matters during the reporting period[63]. - The company has not encountered any environmental penalties or issues during the reporting period[53]. Accounting Policies and Financial Reporting - The financial statements are prepared based on the assumption of going concern, with no significant doubts about the company's ability to continue operations[134]. - The company adheres to the accounting standards, ensuring that financial statements accurately reflect its financial position, operating results, and cash flows[136]. - The company recognizes revenue when control of goods or services is transferred to customers, with specific standards for recognizing sales revenue upon delivery[197].