东岳硅材(300821) - 2021 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,654,311,744.19, representing a 43.14% increase compared to CNY 1,155,732,100.32 in the same period last year[27]. - The net profit attributable to shareholders for the first half of 2021 was CNY 369,936,053.48, a significant increase of 343.42% from CNY 83,427,840.68 in the previous year[27]. - The net profit after deducting non-recurring gains and losses reached CNY 374,730,467.66, up 400.77% from CNY 74,830,633.45 year-on-year[27]. - The net cash flow from operating activities was CNY 199,673,615.07, which is a 247.27% increase compared to CNY 57,497,896.26 in the same period last year[27]. - The basic earnings per share for the first half of 2021 was CNY 0.31, reflecting a 287.50% increase from CNY 0.08 in the previous year[27]. - The total assets at the end of the reporting period were CNY 4,921,205,464.64, a 9.40% increase from CNY 4,498,417,305.64 at the end of the previous year[27]. - The net assets attributable to shareholders at the end of the reporting period were CNY 4,299,066,758.39, up 5.39% from CNY 4,079,130,704.91 at the end of the previous year[27]. - The weighted average return on equity for the first half of 2021 was 8.78%, an increase of 4.99% compared to 3.79% in the same period last year[27]. Investment and R&D - The company has developed over 120 specifications of downstream products, including silicone rubber, silicone oil, and fumed silica, and has obtained a total of 45 authorized invention patents[36]. - The company has established a high-quality R&D team of 255 members, focusing on new product development in the organic silicon industry, including high-performance flame-retardant silicone rubber and functional liquid silicone rubber[41]. - R&D investment increased to ¥96,744,313.66, up 59.30% compared to the previous period[49]. - The company plans to invest in R&D for high-end silicone products, targeting special monomers and downstream processing products, with a focus on key technology research to achieve rapid industrialization[87]. Market and Sales Strategy - The company has established a supply chain management system and a dedicated procurement department to manage the procurement of raw materials, primarily including metallic silicon and chemical raw materials[37]. - The company's sales strategy includes a combination of large and small customer development to expand the market and stabilize sales while mitigating risks[37]. - The company exports to over 30 countries and regions, including the UAE, the USA, Belgium, Germany, India, Poland, Turkey, and South Korea, with domestic sales concentrated in South China and East China[39]. - The company has built a marketing service network with 10 sales service institutions across major organic silicon industrial clusters in China, serving over 1,100 domestic and international customers[44]. Environmental and Compliance - The company has achieved zero wastewater discharge through advanced treatment technologies, enhancing its environmental protection capabilities[44]. - The company has passed multiple quality certifications, including ISO9001 and FDA certification for its products, ensuring high standards and stability in product quality[44]. - The company has implemented pollution control facility upgrades, ensuring all pollutants are consistently within discharge standards[104]. - No administrative penalties were imposed on the company during the reporting period, indicating compliance with environmental regulations[105]. - The company has established a self-monitoring plan for environmental compliance, adhering to the required monitoring frequency and standards[105]. Risks and Challenges - The company has outlined potential risks in its operations and encourages investors to read the relevant sections of the report for more details[6]. - The company faces risks related to safety and environmental protection due to the nature of its chemical production, as well as intensified market competition and potential fluctuations in product prices[84]. Shareholder and Corporate Governance - The company has successfully fulfilled all commitments made to shareholders, ensuring transparency and accountability[109]. - The company reported a total of 14,352.85 thousand yuan in related party transactions during the reporting period, with a significant portion (59.13%) attributed to the purchase of monochloromethane from Shandong Dongyue Fluorosilicon Materials Co., Ltd.[119]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[112]. - The company did not undergo any changes in its controlling shareholder or actual controller during the reporting period[162]. Financial Position and Cash Flow - Cash and cash equivalents increased by ¥352,710,460.94, a decrease of 57.72% compared to the previous period[49]. - The company reported a total of ¥2,356,481,668.62 in cash and cash equivalents at the end of the reporting period, representing 47.88% of total assets[54]. - The total current assets decreased to ¥2,991,332,978.39 from ¥3,119,703,947.58, reflecting a decline of about 4.1%[175]. - Non-current assets increased to ¥1,929,872,486.25 from ¥1,378,713,358.06, indicating a growth of approximately 40%[175]. - The total liabilities rose to ¥622,138,706.25 from ¥419,286,600.73, which is an increase of approximately 48.3%[178]. - The company reported a rise in other current liabilities to ¥5,448,763.34 from ¥1,907,861.16, reflecting an increase of approximately 185.5%[178].