Hiecise(SZ:300809)2021-08-12 16:00Financial Performance - The company reported a revenue of RMB 300 million for the first half of 2021, representing a year-on-year increase of 15% compared to the same period in 2020[19]. - The gross profit margin for the first half of 2021 was 35%, an increase of 5 percentage points from the previous year[19]. - The company has set a revenue target of RMB 600 million for the full year 2021, which would represent a growth of 10% compared to 2020[19]. - The company reported a revenue of ¥251,212,834.85, representing a 503.48% increase compared to the same period last year[28]. - Net profit attributable to shareholders reached ¥63,843,690.34, a significant increase of 794.38% year-over-year[28]. - The net profit after deducting non-recurring gains and losses was ¥56,172,232.28, reflecting an 856.56% increase compared to the previous year[28]. - The company's basic and diluted earnings per share were both ¥0.41, marking a 794.92% increase from the same period last year[28]. - Operating revenue for the current period reached ¥251,212,834.85, a significant increase of 503.48% compared to ¥41,627,326.42 in the same period last year, primarily due to the recovery from pandemic-related disruptions[50]. - Operating profit for the first half of 2021 was ¥76.29 million, compared to a loss of ¥11.76 million in the first half of 2020, indicating a turnaround in profitability[169]. - Net profit for the first half of 2021 was ¥66.10 million, a substantial improvement from a net loss of ¥9.14 million in the same period of 2020[171]. Research and Development - The company plans to invest RMB 50 million in research and development for new product lines in the next fiscal year[19]. - Research and development investment increased by 30.28% to ¥10,706,939.44 from ¥8,218,561.63, indicating the company's commitment to innovation[50]. - The company has established a joint research center with Tsinghua University to focus on intelligent grinding technology, aiming to address critical technological challenges in precision grinding equipment[41]. - The company aims to expand its grinding application solutions and respond to national policies on import substitution, leveraging over 10 years of R&D experience[38]. - The company plans to continue increasing investment in core technology and product R&D to maintain stable gross profit margins[79]. Market Expansion - The company is expanding its market presence in Southeast Asia, with plans to establish a new office in Singapore by the end of 2021[19]. - The company has completed the acquisition of a local competitor for RMB 80 million, which is expected to enhance its market share[19]. - The company is positioned in a growing industry, with increasing demand for high-end CNC roll grinding machines driven by the upgrading of downstream industries[42]. - The company aims to expand its marketing range while consolidating its existing market share to establish partnerships with quality clients domestically and internationally[77]. Financial Management - The company will not distribute cash dividends for the fiscal year 2021, opting to reinvest profits into business growth[19]. - The company has a cash management balance of CNY 39,000 million as of June 30, 2021, indicating effective management of raised funds[67]. - The company has implemented a stable and scientific dividend policy to ensure reasonable returns for shareholders while considering sustainable development[93]. - The company has maintained transparency and integrity in its information disclosure practices[93]. Operational Efficiency - The company is focusing on enhancing its ERP and MES systems to improve operational efficiency and reduce costs by 10% in the next year[19]. - The company has implemented various management systems, including ERP and MES, to support technological innovation and high-quality development[41]. - The company emphasizes the importance of maintaining a healthy cash flow and has established performance indicators for sales teams related to accounts receivable[80]. Risks and Challenges - The company has identified potential risks including supply chain disruptions and has implemented measures to mitigate these risks[19]. - The company is aware of potential risks in expanding new products and overseas markets due to local political and economic changes[77]. - The company has observed a downward trend in the prices of CNC roller grinding machines, which may impact future profitability if competition intensifies[78]. - The company is facing talent retention risks due to rising labor costs and competition in the high-end equipment manufacturing sector[81]. Shareholder Information - The total number of shares is 156,920,000, with 71.01% being restricted shares and 28.99% being unrestricted shares[128]. - Major shareholders include Cao Yuzhong, Zhao Zeming, and Liu Xiangxiong, each holding 23.37% of the shares, totaling 36,670,000 shares[132]. - The company has not implemented any share buyback programs or other significant share changes[130]. - The company did not issue any preferred shares during the reporting period[146]. Cash Flow and Investments - The net cash flow from operating activities decreased by 53.43% to ¥21,415,060.42 compared to the same period last year, primarily due to an increase in cash income from bank acceptance bill discounts in the previous year[52]. - The net cash flow from investing activities increased by 171.01% to ¥66,628,489.58, mainly due to an increase in the redemption of structured deposits during the reporting period[52]. - The total cash inflow from financing activities was 50,000,000.00 CNY, while the cash outflow was 82,275,205.57 CNY, resulting in a net cash flow of -82,275,205.57 CNY compared to a positive net cash flow of 20,979,445.89 CNY in the previous period[186]. Compliance and Governance - The company has not faced any environmental penalties and adheres to strict environmental protection regulations[92]. - There were no significant lawsuits or arbitration matters during the reporting period[102]. - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[97]. - The half-year financial report has not been audited[99].