Yinbang Clad(SZ:300337)2021-08-03 16:00Financial Performance - The company's operating revenue for the first half of 2021 was ¥1,417,204,123.47, representing a 31.21% increase compared to ¥1,080,137,982.24 in the same period last year[27]. - The net profit attributable to shareholders of the listed company reached ¥19,267,741.59, a significant turnaround from a loss of ¥12,332,171.36 in the previous year, marking a 256.24% increase[27]. - The net profit after deducting non-recurring gains and losses was ¥13,451,823.43, compared to a loss of ¥13,073,021.00 in the same period last year, reflecting a 202.90% improvement[27]. - The basic earnings per share increased to ¥0.0234 from a loss of ¥0.0150, representing a 256.00% increase[27]. - The total assets at the end of the reporting period were ¥3,397,118,920.86, a 1.60% increase from ¥3,343,740,455.19 at the end of the previous year[27]. - The net assets attributable to shareholders of the listed company were ¥1,500,830,723.06, up 1.22% from ¥1,482,708,907.83 at the end of the previous year[27]. - The net cash flow from operating activities improved to -¥3,305,792.27, a 90.24% increase compared to -¥33,885,228.15 in the same period last year[27]. - The weighted average return on net assets was 1.29%, an increase of 2.13% compared to -0.84% in the previous year[27]. Revenue Breakdown - Revenue from aluminum-based products was 1.29669 billion yuan, reflecting a year-on-year growth of 53.52%[38]. - Overseas sales amounted to 291.35 million yuan, a significant increase of 74.83% year-on-year, while domestic sales reached 1.11572 billion yuan, up 23.87%[38]. - Revenue from new energy vehicle cooling battery thermal management materials was 167.51 million yuan, a remarkable growth of 243.5%, accounting for 11.82% of the company's semi-annual revenue[39]. Market Position and Strategy - The company holds a 50% market share in the domestic power station air cooling industry with its aluminum-steel composite materials[42]. - The company is positioned to benefit from the rapid growth of the new energy vehicle sector, with expectations for continued demand for aluminum materials[48]. - The company has established strong relationships with major aluminum ingot suppliers, ensuring stable raw material supply[43]. - The company is focused on enhancing its core competitiveness through innovation and R&D, which is considered a key advantage[49]. - The company has established itself as a supplier for major automotive groups, including Denso, Mahle, Valeo, and Tesla, capitalizing on the growth of the new energy vehicle industry[51]. Research and Development - Research and development investment rose to ¥48,804,897.91, marking a 44.20% increase year-on-year, reflecting the company's commitment to innovation[53]. - The company reported research and development expenses for the first half of 2021 were ¥48,804,897.91, up from ¥33,846,057.73 in the previous year, indicating a growth of about 44.2%[189]. Risk Factors - The company faces various risk factors, which are detailed in the report's section on risk management[6]. - The company faces market risks due to uncertainties in the automotive market and increasing competition, prompting proactive market research and exploration[80]. - Raw material price fluctuation risk is significant, with aluminum ingot costs accounting for over 80% of production costs, leading to a pricing model based on market conditions[80]. - The company has established a pandemic prevention team to mitigate risks associated with COVID-19, focusing on market expansion and operational efficiency[80]. Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares[7]. - The annual general meeting had a participation rate of 52.62% on April 15, 2021[87]. - The first extraordinary general meeting of 2021 had a participation rate of 52.61% on February 23, 2021[87]. - There were no stock incentive plans or employee stock ownership plans implemented during the reporting period[90]. - The company actively engages with investors through various communication channels, ensuring transparency and shareholder rights[101]. - The company adheres to labor laws, providing social insurance and maintaining employee rights[101]. Environmental Compliance - The company reported a total emission of 17.84 tons of smoke, 0 tons of SO2, and 57.35 tons of nitrogen oxides, all within the regulatory limits[96]. - The company has established 19 organized emission outlets for pollutants, ensuring compliance with environmental standards[96]. - The company has a risk assessment report for environmental incidents filed with local authorities[97]. Related Party Transactions - The actual amount of related party transactions with Fei'er Kang Fast Manufacturing Technology Co., Ltd. for mold procurement was 6.95 million RMB, within the approved limit of 50 million RMB[119]. - The actual amount of related party transactions for water and electricity payments to Fei'er Kang was 0.767 million RMB, within the approved limit of 2 million RMB[119]. - The actual amount of related party transactions for agricultural products with Wuxi New District Zhanqiao Agricultural Cooperative was 0.744 million RMB, within the approved limit of 2 million RMB[119]. - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[109]. - There were no violations of external guarantees during the reporting period[109]. - The company has not undergone any bankruptcy reorganization during the reporting period[111]. Financial Position - The company's total assets amounted to ¥3,233,997,913.31, up from ¥3,159,641,658.91 year-over-year, reflecting an increase of approximately 2.3%[186]. - The company's total liabilities stood at CNY 1,911,010,715.11, slightly up from CNY 1,875,847,884.78, reflecting an increase of about 1.9%[176]. - The equity attributable to shareholders increased to CNY 1,500,830,723.06 from CNY 1,482,708,907.83, showing a growth of approximately 1.9%[179]. - The company reported a decrease in short-term borrowings to CNY 1,204,880,633.90 from CNY 960,939,912.05, which is an increase of about 25.4%[176]. Shareholder Information - As of June 30, 2021, the controlling shareholder, Mr. Shen Yulan, held 102,217,600 shares, representing 12.44% of the total share capital, with 100% of his shares pledged[142]. - Mr. Shen Jiansheng held 147,197,621 shares, accounting for 17.91% of the total share capital, with 97.60% of his shares pledged, totaling 143,663,365 shares[142]. - The total number of shares outstanding is 821,920,000, with 709,988,557 shares (86.38%) being freely tradable[148]. - The top ten shareholders include Wuxi New Bang Technology Co., Ltd. with 180,822,400 shares (22.00%) and Mr. Shen Jiansheng with 147,197,621 shares (17.91%)[151]. - The company reported a total of 41,187 common shareholders at the end of the reporting period[151].