XYGF(SZ:300159)2021-08-27 16:00Financial Performance - The company's operating revenue for the first half of 2021 was ¥402,482,584.77, a decrease of 12.66% compared to ¥460,841,531.80 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was -¥238,985,347.30, representing a significant decline of 1,910.68% from -¥11,885,801.73 in the previous year[19]. - The net cash flow from operating activities was ¥13,430,036.69, down 80.17% from ¥67,727,208.47 in the same period last year[19]. - The basic earnings per share were -¥0.1604, a decrease of 1,504.00% compared to -¥0.01 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was -¥249,792,443.86, a decline of 856.57% from -¥26,113,269.77 in the previous year[19]. - The company reported a net loss of ¥254,879,692.41 in the first half of 2021, compared to a net loss of ¥16,643,969.46 in the first half of 2020, representing a significant increase in losses[168]. - The company's operating profit (loss) was reported at -¥251,873,544.23, worsening from -¥12,160,458.48 in the same period last year[167]. - The total comprehensive loss for the first half of 2021 was -¥254,879,692.41, compared to -¥16,643,969.46 in the previous year[168]. Assets and Liabilities - Total assets at the end of the reporting period were ¥5,055,699,110.11, an increase of 0.19% from ¥5,046,118,864.76 at the end of the previous year[19]. - The total liabilities reached CNY 3,506,853,595.41, compared to CNY 3,241,977,135.00, marking an increase of 8.2%[159]. - Owner's equity totaled CNY 1,548,845,514.70, down from CNY 1,804,141,729.76, representing a decline of 14.1%[160]. - The company reported a net loss of CNY 3,634,688,923.00 in retained earnings, worsening from a loss of CNY 3,395,703,575.70[160]. - Current liabilities totaled CNY 3,306,437,327.63, up from CNY 2,998,406,771.93, indicating a 10.3% increase[159]. - Non-current liabilities decreased to CNY 200,416,267.78 from CNY 243,570,363.07, reflecting a 17.7% reduction[159]. Business Operations - The company focuses on three core business areas: aerospace structural components, space vehicle structural components, and engine and gas turbine structural components, aiming to enhance product delivery capabilities[30]. - The company is actively reducing operational costs by disposing of idle assets, which has improved cash flow and reduced depreciation expenses[31]. - The company is adjusting its subsidiary operations by divesting non-core business interests to concentrate resources on its main business areas[32]. - The company has successfully transformed from parts processing to component delivery, enhancing its competitive differentiation in the market[35]. - The company has established connections with new clients such as China CRRC and nuclear power suppliers, broadening its customer base significantly[34]. Market Trends and Future Outlook - The company anticipates significant growth in the military engine market due to the mass production of new military aircraft, indicating a clear trend towards domestic engine replacement[28]. - The global demand for civil aircraft is expected to grow, with a projected increase in the number of aircraft in China from 16.2% to 21.7% of the global total by 2039[28]. - The aerospace equipment manufacturing demand is continuously expanding, with a rapid growth in the proportion of private enterprises' participation in the supply chain[34]. - The agricultural machinery market is gradually recovering, driven by improved planting returns and the rise of large-scale agricultural cooperatives since 2020[42]. Environmental Responsibility - The company has implemented various pollution prevention facilities, all of which are reported to be operating normally, reflecting a commitment to environmental responsibility[85]. - The company has established a comprehensive environmental management system, with annual monitoring of all production areas to ensure compliance with environmental standards[89]. - The wastewater treatment facility of Xinjiang Muxin Machinery Co., Ltd. reported a total discharge of 3,520 tons/year, with key pollutants like suspended solids at 16 mg/L and ammonia nitrogen at 8.86 mg/L, all within regulatory limits[90]. - The company has implemented an emergency response plan for environmental incidents, which has been in effect since December 2016, including two emergency drills conducted in 2020[88]. Shareholder and Equity Information - The company’s major subsidiary, Mingri Aerospace, plans to raise a total of 1.2 billion RMB through equity financing to pay off supplier debts and replenish working capital[134]. - The company’s controlling shareholder reduced its holdings by 14,719,600 shares at an average price of 3.16 RMB per share, completing the reduction plan by June 11, 2021[133]. - The total number of shares increased from 1,490,360,202 to 1,490,360,202, with no new shares issued during the reporting period[138]. - The company reported a total of 63,330 ordinary shareholders at the end of the reporting period[143]. Risk Management - The company faces risks from intensified competition in the aerospace sector, which may impact profit margins and performance[70]. - The company is actively pursuing supply chain finance and equity financing to mitigate risks associated with liquidity shortages[74]. - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts[4]. Research and Development - The company has accumulated 141 patent applications, including 64 invention patents, with 93 patents granted[44]. - The company is actively pursuing new product development and technological upgrades, including the next-generation turbofan engine unit project, which is currently under renovation[87]. - The company emphasizes the importance of developing new products and technologies in the agricultural machinery sector to meet market demands, aligning with national strategies for smart agriculture[75].