BSM(SZ:300796)2021-08-26 16:00Financial Performance - The company's operating revenue for the first half of 2021 was ¥275,965,224.14, representing a 53.30% increase compared to ¥180,020,984.28 in the same period last year[22]. - The net profit attributable to shareholders of the listed company reached ¥37,427,173.88, a significant increase of 202.31% from ¥12,380,466.98 in the previous year[22]. - The net cash flow from operating activities was ¥87,317,316.14, marking a 381.80% increase compared to ¥18,123,257.31 in the same period last year[22]. - Basic earnings per share increased to ¥0.31, up 210.00% from ¥0.10 in the previous year[22]. - The net profit after deducting non-recurring gains and losses was ¥36,713,123.35, reflecting a 177.89% increase from ¥13,211,169.87 in the same period last year[22]. - The company reported a net profit of ¥714,050.53 from non-recurring gains and losses during the reporting period[26]. - The company achieved a sales revenue of 276 million CNY in the first half of 2021, representing a 53% year-on-year increase, with the main product, dimethenamid-P, seeing a significant revenue growth of 172%[56]. - The company reported a total profit of ¥43,108,673.55 for the first half of 2021, compared to ¥14,137,784.81 in the same period of 2020, reflecting a growth of 210.5%[183]. - The company’s tax expenses for the first half of 2021 were ¥5,077,866.45, compared to ¥2,083,800.34 in the first half of 2020, indicating an increase of 143.5%[183]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,305,315,385.98, a slight decrease of 0.07% from ¥1,306,233,986.18 at the end of the previous year[22]. - The total amount of restricted assets was CNY 147,225,626.82, primarily due to bank guarantees and pledged receivables[69]. - The total liabilities decreased to CNY 234,498,999.37 from CNY 268,359,714.40, a reduction of approximately 12.6%[175]. - The total current liabilities decreased to CNY 220,741,122.37 from CNY 268,228,464.40, a decline of about 17.7%[175]. - The cash and cash equivalents decreased to CNY 76,069,926.68 from CNY 183,946,455.07, a significant drop of about 58.7%[178]. Market Position and Strategy - The company is a leading enterprise in the Asia-Pacific region for the herbicide diquat, with a complete R&D and production system for its entire industrial chain[29]. - The company exports products to Europe, America, Pakistan, and India, and is actively exploring new markets in Australia and other Asian countries[39]. - The company has established stable supply relationships with overseas customers, selling directly to pesticide manufacturers for further processing[39]. - The company benefits from national industrial policies that support the development of environmentally friendly and low-toxicity pesticides, driving business growth[40]. - The company is positioned to benefit from the ongoing consolidation in the pesticide industry, which is expected to enhance its market share and customer base[43]. - The company is focused on digitalization, information technology, and smart management transformation to enhance operational efficiency and safety[57]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product offerings[89]. Research and Development - Research and development investment increased by 29.55% to 15.62 million CNY, reflecting the company's commitment to innovation[59]. - The company has 47 authorized patents, including 12 invention patents, enhancing its competitive edge in the pesticide industry[49]. - The company is actively developing new products, including methoxyfenozide and benzoylpropionic acid, to strengthen its market position[49]. - Investment in new product development has increased by 20% year-on-year, focusing on innovative chemical solutions to enhance market competitiveness[91]. Environmental and Social Responsibility - The company emphasizes environmental protection and has implemented a waste treatment system to comply with national standards[103]. - The company has a comprehensive wastewater treatment system, effectively reducing wastewater discharge[113]. - The company has established an emergency response plan for environmental incidents, filed with the local environmental protection bureau in December 2019, with registration number 3306822009066[117]. - The company donated 150,000 RMB to the charity association in Shaoxing during the reporting period, reflecting its commitment to social responsibility[123]. Risks and Challenges - The company faces risks including market growth not meeting expectations, high customer concentration, and fluctuations in exchange rates[6]. - The top five customers contributed to 49.77% of the company's sales revenue, indicating a high customer concentration risk[100]. - The company is facing potential risks from changes in tax incentives and foreign exchange fluctuations impacting its financial performance[104]. Corporate Governance - The company has a robust internal control system and governance structure to protect investor rights and ensure transparency in profit distribution[121]. - The company has not encountered any violations in the usage and management of raised funds, adhering to relevant laws and regulations[80]. - The company reported no significant related party transactions during the reporting period[135].