蠡湖股份(300694) - 2021 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2021 was ¥681,427,782.32, representing a 55.09% increase compared to ¥439,364,966.83 in the same period last year[23]. - The net profit attributable to shareholders of the listed company decreased by 58.76% to ¥16,072,044.59 from ¥38,973,428.36 in the previous year[23]. - Basic earnings per share fell by 61.11% to ¥0.07 from ¥0.18 in the same period last year[23]. - The total comprehensive income for the first half of 2021 was ¥16,072,044.59, a decrease from ¥38,973,428.36 in the first half of 2020[169]. - The net profit for the first half of 2021 was ¥23,253,873.22, compared to ¥37,170,746.73 in the first half of 2020, indicating a decrease of approximately 37.4%[172]. - The company reported a net profit of -17.22 million yuan, indicating a loss for the current period compared to the previous period[184]. Cash Flow and Liquidity - The net cash flow from operating activities dropped significantly by 80.74%, amounting to ¥42,541,107.55 compared to ¥220,853,354.95 in the previous year[23]. - The net cash flow from operating activities for the first half of 2021 was ¥46,038,569.95, a decrease of 66.4% compared to ¥136,819,259.43 in the first half of 2020[179]. - Cash and cash equivalents increased significantly to CNY 103,018,416.74 from CNY 58,056,033.49, representing an increase of approximately 77.3%[158]. - The cash inflow from financing activities was positive at ¥6,868,344.09 in the first half of 2021, compared to a negative cash flow of ¥142,077,874.81 in the first half of 2020[179]. - The company reported a cash inflow from financing activities of ¥52,052,253.92, compared to a cash outflow of ¥205,950,557.05 in the same period of 2020[176]. Assets and Liabilities - Total assets increased by 4.72% to ¥1,994,833,285.05 from ¥1,904,949,793.26 at the end of the previous year[23]. - The company's total liabilities increased to ¥397,845,534.30 as of June 30, 2021, compared to ¥355,491,707.11 at the end of 2020, marking an increase of 11.9%[165]. - The company's inventory increased to ¥494,579,155.65, accounting for 24.79% of total assets, up from 22.16% in the previous year[59]. - The company's total equity attributable to shareholders at the end of the reporting period was 1,241.6 million yuan, compared to 1,219.9 million yuan at the end of the previous year, reflecting an increase of approximately 1.8%[183]. Market and Industry Trends - The automotive market saw production and sales of 12.56 million and 12.89 million vehicles, respectively, representing year-on-year growth of 24.2% and 25.6%[35]. - The sales of new energy vehicles reached 1.215 million units, doubling year-on-year, with cumulative sales matching the total for the entire year of 2019[35]. - The global turbocharger sales are expected to grow steadily, significantly outpacing the growth rate of automotive production due to increasing configuration rates[33]. - The automotive industry is facing challenges such as chip shortages and rising raw material prices, which may impact production and costs[34]. Research and Development - The company is focusing on the development of hydrogen fuel cell technology for marine applications, aiming to explore new industry layouts[46]. - The company is increasing R&D investment to diversify its product structure and expand into the new energy vehicle sector to mitigate risks associated with the traditional turbocharger market[83]. - Research and development expenses for the first half of 2021 were ¥27,988,322.95, an increase of 24.5% compared to ¥22,425,704.83 in the first half of 2020[166]. Environmental and Compliance - The company reported a total emission of 6.49475 tons/year of particulate matter, 0.4488 tons/year of CO2, and 5.74575 tons/year of nitrogen oxides, all within legal limits[100]. - The wastewater treatment system has been designed to achieve zero discharge, with all wastewater being treated and reused in production[101]. - The company has engaged a third-party service provider for environmental management and compliance, ensuring adherence to national standards[100]. Shareholder and Capital Management - The company plans to implement an employee stock ownership plan to incentivize key personnel, funded through employees' legal salaries and self-raised funds[95]. - The company repurchased a total of 1,871,100 shares, accounting for 0.87% of the total share capital, with a total expenditure of approximately RMB 19.04 million[140]. - The largest shareholder, Wuxi Lihu Zhi Investment Co., holds 34.75% of the shares, totaling 74,814,280 shares, with no changes during the reporting period[145]. Risks and Challenges - The company faced significant risks and challenges, which are detailed in the report[5]. - The company faces risks from fluctuations in raw material prices, which significantly impact gross margins and overall profitability[87]. - The company exports products primarily to France, Poland, Romania, the USA, Mexico, Japan, and South Korea, making it vulnerable to changes in international trade policies[84].