Sito Bio(SZ:300583)2020-08-27 16:00Financial Performance - The company's operating revenue for the first half of 2020 was ¥492,919,460.37, a decrease of 14.98% compared to ¥579,796,218.51 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was a loss of ¥37,050,450.33, representing a decline of 158.40% from a profit of ¥63,437,395.63 in the previous year[18]. - The basic earnings per share for the first half of 2020 was -¥0.35, down 159.32% from ¥0.59 in the same period last year[18]. - Revenue for the reporting period was ¥492,919,460.37, a decrease of 14.98% compared to the same period last year due to reduced delivery volumes and price fluctuations caused by the COVID-19 pandemic[50]. - The net profit for the first half of 2020 was a loss of approximately ¥45.74 million, compared to a profit of ¥63.14 million in the same period of 2019[188]. - The total comprehensive income for the first half of 2020 was a loss of approximately ¥45.74 million, compared to a profit of ¥63.14 million in the same period of 2019[188]. Cash Flow and Assets - The net cash flow from operating activities increased significantly to ¥183,637,646.62, up 513.59% from ¥29,928,520.54 in the same period last year[18]. - Cash and cash equivalents increased by 164.45% to ¥14,006,000.23, reflecting significant growth in operating cash flow[51]. - The total cash and cash equivalents at the end of the period increased to CNY 173,525,543.37 from CNY 57,806,550.10, marking a growth of approximately 200%[196]. - The total assets at the end of the reporting period were ¥2,865,830,573.08, a decrease of 4.06% from ¥2,987,259,062.48 at the end of the previous year[18]. - The company's cash and cash equivalents as of June 30, 2020, amount to ¥201,067,779.54, an increase from ¥183,606,732.94 at the end of 2019[176]. Expenses and Liabilities - Operating costs were ¥436,440,267.87, a slight decrease of 1.19% year-on-year[50]. - Management expenses rose by 118.19% to ¥68,845,000.81, attributed to increased consolidation scope and depreciation from completed projects not yet in production[50]. - Financial expenses increased by 26.79% to ¥18,342,711.55, mainly due to higher bank loan interest expenses[50]. - Total liabilities decreased from CNY 1,100,498,882.82 to CNY 1,028,055,679.98, a decline of about 6.6%[179]. - Current liabilities decreased from CNY 943,052,609.30 to CNY 877,287,972.63, a reduction of approximately 7.0%[178]. Investments and R&D - The company has continuously invested in R&D, enhancing its production processes and developing a range of steroid drug raw materials[38]. - R&D investment decreased by 12.57% to ¥16,823,568.51 compared to the previous year[51]. - The company plans to enhance R&D investment and talent acquisition to optimize new product layouts[99]. - The company has completed the process development and pilot testing for a new steroid intermediate during the reporting period[43]. Market Position and Products - The company is a key supplier of steroid drug raw materials, focusing on research, production, and sales of steroid drugs[25]. - The global steroid hormone drug market has been growing at over 10% annually since the 1990s, indicating a stable demand for steroid intermediates and raw materials[31]. - The company's core business, intermediates, accounted for 77.36% of total revenue during the reporting period[43]. - The company has expanded its product offerings to include high-end respiratory specialty raw materials and various formulations, enhancing its market position[30]. Risk Management - The company has identified several risks including industry risk and environmental risk, which are detailed in the report[5]. - The company emphasizes the importance of understanding the differences between future plans and actual commitments, urging investors to be aware of investment risks[5]. - The company faces industry risks due to increased competition, which may affect pricing and bargaining power[97]. - Environmental risks are heightened due to stricter regulations, impacting operational costs and performance[100]. Environmental Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[136]. - The company has implemented advanced wastewater treatment processes, including multi-effect evaporation and Fenton oxidation, to ensure compliance with environmental standards[139]. - Emission standards for various pollutants were met, with specific values such as ammonia at 1.05 mg/L and total sulfur compounds at 3.15 mg/Nm³[140]. - The company has established high-standard storage facilities for hazardous waste, ensuring safe and environmentally friendly handling[141]. Shareholder Information - The annual shareholders' meeting had a participation rate of 44.30%[105]. - The largest shareholder, Shandong Runxin Investment Co., Ltd., holds 36.93% of shares, totaling 39,802,720 shares, with 19,676,000 shares pledged[158]. - Shareholder Mi Chaojie holds 22.68% of shares, totaling 24,448,000 shares, with 18,336,000 shares under selling restrictions[158]. Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company has fulfilled all commitments made by actual controllers, shareholders, and related parties during the reporting period[107]. - The company has not undergone any bankruptcy reorganization during the reporting period[110]. - There were no significant litigation or arbitration matters during the reporting period[111].