JGBR(SZ:300421)2020-08-27 16:00Financial Performance - The company reported steady revenue growth from 2017 to 2019, with sales revenue of RMB 663.36 million, RMB 706.28 million, and RMB 729.37 million respectively[5]. - The company's operating revenue for the current period is ¥337,270,180.86, a decrease of 4.15% compared to ¥351,882,305.64 in the same period last year[26]. - The net profit attributable to shareholders for the current period is ¥20,718,658.36, down 31.37% from ¥30,190,074.80 in the previous year[26]. - The basic earnings per share for the current period is ¥0.0853, down 29.09% from ¥0.1203 in the same period last year[26]. - The weighted average return on net assets is 1.66%, a decrease of 1.12% compared to 2.78% in the previous year[26]. - The company reported a total of ¥2,158,249.64 in non-recurring gains and losses for the current period, primarily from government subsidies[30]. - The company's revenue for the first half of 2020 was CNY 337.27 million, a decrease of 4.15% compared to the same period last year[48]. - The net profit attributable to shareholders was CNY 20.72 million, down 31.37% year-on-year[48]. - In Q2 2020, the company's revenue increased by 5.6% year-on-year, with roller sales growing by 177.92% compared to the same period last year[48]. - Total operating revenue for the first half of 2020 was CNY 337,270,180.86, a decrease of 4.58% compared to CNY 351,882,305.64 in the first half of 2019[151]. - Net profit for the first half of 2020 was CNY 20,718,658.36, a decline of 31.4% from CNY 30,190,074.80 in the first half of 2019[152]. - The company reported a total comprehensive income for the first half of 2020 of CNY 17,311,853.02, compared to CNY 25,754,585.02 in the same period of 2019, indicating a decrease[160]. Investment and Expansion - The company is investing in projects including a new annual production capacity of 16,000 tons of precision tapered rollers and an 8,000-ton bearing steel ball project in the Americas, which are expected to enhance profitability[7]. - The establishment of a wholly-owned subsidiary in South Carolina, USA, aims to build a bearing steel ball production base, but faces uncertainties due to potential legal changes and ongoing trade disputes[10]. - The company completed the acquisition of 100% equity in Jinyan Steel Ball, which is expected to enhance its technology and experience in the micro ball sector, strengthening its market position[33]. - The company has registered a subsidiary in Poland to expand its international market presence and improve customer service[51]. - The company has committed to a project to build an annual production capacity of 16,000 tons of precision tapered rollers, with an adjusted investment of CNY 15.80 million[68]. - The project for producing 8,000 tons of bearing steel balls in the Americas has seen an investment of CNY 10.00 million, achieving 70.88% of the planned investment[68]. Research and Development - The company has successfully developed G5 grade high-precision steel balls and G10 grade motor steel balls, which are now in small batch production and included in the sales plan[8]. - The company invested CNY 15.91 million in R&D, representing a 7.01% increase from the previous year[57]. - The company has implemented electronic management systems (ERP, MES, WMS) to ensure quality control and traceability in production[41]. - The company has a provincial engineering technology research center, which serves as a key base for training specialized technical personnel in the rolling body manufacturing field[42]. - The company emphasizes that sustainable R&D and technological improvements will be core competitive advantages in the future, as they are crucial for enhancing product performance and expanding market share[35]. Market Challenges and Risks - The ongoing COVID-19 pandemic poses risks to the company's production and operations, with impacts depending on the progression of the pandemic and related control measures[11]. - The company has faced challenges in new product development, including market changes and talent shortages, which may affect the expected economic benefits[8]. - The company emphasizes the importance of monitoring macroeconomic fluctuations that could impact market demand and overall performance[5]. - The company faces risks related to macroeconomic fluctuations that could impact market demand and subsequently affect order volumes and performance[80]. - The ongoing COVID-19 pandemic poses risks to production and operations, with potential impacts on receivables and overall business performance[84]. Financial Position and Assets - The total assets at the end of the current period are ¥1,391,430,824.89, a decrease of 1.33% from ¥1,410,253,266.20 at the end of the previous year[26]. - The company's current assets totaled CNY 657,086,534.47, down from CNY 663,885,453.57 at the end of 2019, reflecting a decrease of approximately 1.2%[142]. - The inventory rose to CNY 222.59 million, accounting for 16.00% of total assets, an increase of 1.26% compared to the previous year[63]. - The total liabilities decreased to CNY 269,514,386.30 from CNY 285,633,230.07, indicating a reduction of approximately 5.6%[143]. - The company's equity attributable to shareholders was CNY 1,121,916,438.59, slightly down from CNY 1,124,620,036.13, a decrease of about 0.2%[144]. Shareholder Information - The total number of shares decreased from 245,714,404 to 242,465,404 due to the cancellation of 3,249,000 restricted stocks[117]. - The largest shareholder, Shi Xianggui, holds 22.94% of the shares, totaling 55,633,396 shares[124]. - The company did not experience any changes in its controlling shareholder or actual controller during the reporting period[126]. - The company has not issued any preferred shares during the reporting period[128]. - The total number of ordinary shareholders at the end of the reporting period was 13,068[124]. Environmental and Regulatory Compliance - The company is classified as a key pollutant discharge unit and has reported a total discharge of 15.6 tons/year for chemical oxygen demand, which is below the approved limit of 49.56 tons/year[109]. - The company has obtained environmental impact assessment approvals for multiple projects, including a new project with an annual production capacity of 16,000 tons of precision tapered rollers[110]. - The company has implemented an emergency plan for environmental incidents and has completed the necessary filings with local authorities[110]. - The company has publicly disclosed its environmental information, including pollutant discharge and pollution control facilities[111]. Corporate Governance - The company did not report any significant related party transactions during the reporting period[99]. - There were no significant guarantees or debts with related parties during the reporting period[100][101][105]. - The company did not engage in any major contracts such as custody, contracting, or leasing during the reporting period[102][103][104]. - The company has not reported any changes in accounting policies or prior period error corrections during this reporting period[166].