THXN(SZ:300390)2021-07-30 16:00Financial Performance - The company reported a revenue of 300 million RMB for the first half of 2021, representing a year-on-year increase of 15% compared to the same period in 2020[7]. - The net profit attributable to shareholders for the first half of 2021 was 50 million RMB, an increase of 20% year-on-year[7]. - The company achieved operating revenue of CNY 1,431,383,298.20, representing an increase of 87.86% compared to the same period last year[12]. - The net profit attributable to shareholders was CNY 312,588,747.38, reflecting a growth of 66.57% year-over-year[12]. - The company’s basic and diluted earnings per share were both CNY 0.56, an increase of 64.71% year-over-year[12]. - The company reported a total comprehensive income of ¥390,269,242.05 for the first half of 2021, compared to ¥193,605,726.13 in the first half of 2020, reflecting a growth of 102%[111]. - The total revenue from operating activities was CNY 1,038,281,011.01, up from CNY 923,622,917.72 in the first half of 2020, reflecting a growth of approximately 12.4%[116]. - The net profit for the first half of 2021 was CNY 154,643,447.73, an increase from CNY 104,767,870.16 in the same period of 2020, representing a growth of approximately 47.6%[113]. Market Expansion and Strategy - The company plans to expand its market presence in the lithium battery materials sector, targeting a growth rate of 30% in this segment over the next year[7]. - The company is exploring potential mergers and acquisitions to enhance its technological capabilities and market reach[7]. - Future guidance suggests a projected revenue growth of 20% for the second half of 2021, driven by increased demand in the clean technology sector[7]. - The company plans to enhance market expansion efforts in the lithium battery materials, medical devices, and electronic information sectors, leveraging production and supply advantages[26]. - The company is actively expanding its market for anti-static ultra-clean technology products and enhancing its R&D capabilities[18]. - The company is focused on enhancing shareholder rights and has established a robust corporate governance structure to protect the interests of minority shareholders[70]. Research and Development - Research and development expenses accounted for 10% of total revenue, reflecting the company's commitment to innovation and new product development[7]. - The company emphasizes continuous investment in R&D to meet and guide customer demands, reinforcing its competitive edge in the market[22]. - Research and development expenses for the first half of 2021 amounted to ¥30,026,902.15, slightly up from ¥29,609,271.49 in the same period of 2020[109]. Financial Position and Assets - The company reported a total asset value of CNY 4,213,187,762.58, up 69.15% from the end of the previous year[12]. - The net assets attributable to shareholders reached CNY 2,221,532,304.19, marking an 83.13% increase compared to the previous year[12]. - The company’s cash flow from operating activities was negative at CNY -72,783,590.70, a decline of 122.52% from the previous year[12]. - The company reported cash and cash equivalents of ¥584,422,377.21 as of June 30, 2021, compared to ¥231,325,022.01 at the end of 2020, representing a 153.1% increase[102]. - The company’s accounts receivable increased to ¥377,490,058.52 from ¥161,717,754.65, a growth of 133.3%[102]. - The company’s total liabilities reached CNY 1,594,936,296.27, up from CNY 1,004,109,162.08, reflecting a growth of approximately 58.9%[104]. Risks and Challenges - The company faces risks related to supply chain disruptions and is implementing measures to mitigate these risks[2]. - The company faces market competition risks due to an expanding market and increasing competition, which may affect product pricing and market share[56]. - The company is addressing rising cost risks by optimizing internal organization and enhancing personnel efficiency to maintain profitability[57]. - The company is exposed to foreign exchange risks due to its export business primarily settled in USD, and it plans to use hedging tools to mitigate these risks[59]. Corporate Governance and Social Responsibility - The company actively participates in social responsibility initiatives, donating medical supplies during the COVID-19 pandemic and supporting impoverished students[70]. - The company held an annual general meeting with a participation rate of 39.65% on May 12, 2021[65]. - The company has no plans to distribute cash dividends or issue bonus shares for the current fiscal year[2]. Share Issuance and Capital Management - The company raised RMB 765.05 million through a private placement of 31,604,538 shares at RMB 24.68 per share, primarily to invest in the second phase of the lithium hydroxide project[21]. - The total number of shares increased from 551,276,000 to 582,880,538 after the issuance of 31,604,538 new shares[86]. - The company completed the issuance of 31,604,538 shares to specific investors, which was approved by the China Securities Regulatory Commission on March 10, 2021[83]. - The company has no plans for share repurchase during the reporting period[87]. Inventory and Supply Chain Management - The company employs a centralized procurement model for raw materials, ensuring stable supply and cost management[25]. - The company conducts monthly inventory counts to ensure accuracy and reflects any discrepancies in the current year's profit or loss[175]. - Inventory is classified into raw materials, work in progress, and finished goods, with a perpetual inventory system in place[176]. Accounting and Financial Reporting - The financial statements are prepared based on the enterprise accounting standards, reflecting the company's financial position and operating results accurately[137]. - The company recognizes deferred tax assets or liabilities in the consolidated balance sheet due to temporary differences arising from unrealized internal sales profits[144]. - The company’s consolidated financial statements include all subsidiaries under its control, ensuring a comprehensive view of its financial health[142].