天晟新材(300169) - 2020 Q2 - 季度财报

Financial Performance - The company reported a significant increase in revenue, achieving a total of 500 million CNY for the first half of 2020, representing a 20% growth compared to the same period last year[15]. - The company's operating revenue for the current period is ¥412,933,386.91, representing a 4.29% increase compared to ¥395,962,099.08 in the same period last year[21]. - The company's revenue for the reporting period was ¥412,933,386.91, an increase of 4.29% compared to the same period last year, primarily due to an increase in composite sales[38]. - The company reported a total of ¥7,350,276.29 in non-recurring gains and losses for the current period[25]. - The company reported a significant increase in other income, which rose by 5095.61% to ¥6,227,437.26, mainly due to government compensation received[38]. - The company reported a net loss of CNY 277,263,154.77 in retained earnings, compared to a loss of CNY 268,684,662.39 at the end of 2019, indicating a worsening of approximately 3.0%[129]. - The net profit for the same period increased to 5,543,352.65 CNY, a 475.69% rise from a loss of 1,475,510.80 CNY in 2019[59]. - The net profit attributable to shareholders for the current period is -¥8,578,492.38, a decrease of 262.10% from ¥5,292,134.54 in the previous year[21]. - The net profit for the first half of 2020 was a loss of CNY 9,272,819.87, compared to a profit of CNY 5,265,439.48 in the first half of 2019[136]. Assets and Liabilities - The total assets of the company as of June 30, 2020, amounted to 1.2 billion CNY, with a year-over-year increase of 15%[15]. - The total assets of the company reached CNY 2,130,444,867.53, an increase from CNY 1,746,476,163.21 year-on-year[133]. - The total liabilities of the company were CNY 1,260,053,405.05, compared to CNY 915,554,255.75 at the end of 2019, marking an increase of around 37.5%[128]. - The company's total liabilities increased to CNY 1,077,888,581.76, up from CNY 678,626,214.81 in the previous year[133]. - The company's cash and cash equivalents at the end of the reporting period were ¥193,507,329.21, representing 8.96% of total assets[46]. - The company's total current assets reached CNY 1,415,343,565.53, up from CNY 1,076,210,645.24 at the end of 2019, indicating a growth of about 31.5%[127]. - The total assets of the main subsidiary, Changzhou Tiansheng Composite Materials Co., Ltd., were CNY 333,323,462, with a net profit of CNY 5,543,352.65[56]. - The total assets of Tian Sheng Securities Co., Ltd. decreased by 21.99% to 20,823,068.24 CNY from 26,693,634.65 CNY in the previous year[60]. Research and Development - The company plans to invest 50 million CNY in R&D for new technologies in the next fiscal year, focusing on sustainable materials[15]. - The company's R&D efforts focus on high-temperature structural foam materials and supercritical foaming technology, enhancing its competitive edge in the market[30]. - Research and development expenses amounted to ¥5,158,034.58, a decrease of 13.68% year-on-year, due to no significant new R&D projects initiated[38]. - The company is focused on the research and development of high-performance cleaning materials and energy equipment materials[56]. - The company is focusing on the research and development of new materials and technologies, including environmentally friendly sound barriers and new building materials[59]. Market Strategy and Expansion - The company is expanding its market presence, targeting new regions in Southeast Asia, with an estimated market potential of 300 million CNY[15]. - A strategic acquisition of a local competitor is in progress, which is anticipated to enhance market share by 10%[15]. - The company aims to strengthen its international market expansion and enhance its global brand influence despite geopolitical and policy risks[63]. - The company has formed joint ventures to enter the rail transit industry, optimizing its industrial chain layout and enhancing R&D capabilities[29]. Shareholder and Equity Information - The company reported a plan not to distribute cash dividends, issue bonus shares, or increase capital from reserves[5]. - The company's major shareholders, Wu Haizhou and Shengyan, plan to transfer a total of 30 million shares, representing 9.20% of the company's total share capital, to Ronghai Asset Management Co., Ltd.[95]. - The total shares held by Wu Haizhou, Lv Zewei, Sun Jian, and Shengyan after the transfer is 57,731,807 shares, representing 17.71% of the total share capital[97]. - The company has no controlling shareholder or actual controller after the termination of the concerted action agreement on August 20, 2020[98]. - The number of ordinary shareholders at the end of the reporting period is 11,236[106]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report[4]. - The company faced a risk of losing core technical personnel, which could impact its competitive advantage in the polymer foaming industry[61]. - The company is facing risks related to the loss of core technical personnel, which could lead to technology leakage[62]. - The company has a risk of management challenges due to rapid business scale expansion, necessitating adjustments in its management structure[62]. Compliance and Governance - The board of directors confirmed the accuracy and completeness of the financial report, ensuring no false statements or omissions[3]. - The half-year financial report has not been audited[69]. - The company has not experienced any major litigation or arbitration matters during the reporting period[72]. - The company has not undergone any bankruptcy restructuring during the reporting period[71]. Financial Reporting and Accounting - The financial statements are prepared in accordance with the Chinese Accounting Standards and reflect the company's financial position accurately[173]. - The company's accounting period follows the calendar year, from January 1 to December 31[174]. - The company recognizes cash and cash equivalents as cash in the cash flow statement, including cash on hand and deposits readily available for payment[193].