华业香料(300886) - 2021 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2021 was ¥122,265,164.06, representing a 6.81% increase compared to ¥114,473,896.09 in the same period last year[18]. - The net profit attributable to shareholders decreased by 43.04% to ¥14,256,049.53 from ¥25,030,045.93 year-on-year[18]. - The net profit after deducting non-recurring gains and losses fell by 44.73% to ¥11,630,255.86 compared to ¥21,041,364.38 in the previous year[18]. - Basic earnings per share dropped by 57.30% to ¥0.1912 from ¥0.4478 year-on-year[18]. - The company's revenue for the reporting period was ¥122,265,164.06, representing a year-on-year increase of 6.81% due to higher sales volume[39]. - The total profit for the first half of 2021 was CNY 16.17 million, down 42.73% from CNY 28.32 million in the first half of 2020[161]. - The company's operating profit for the first half of 2021 was CNY 16.27 million, a decrease of 42.38% from CNY 28.43 million in the same period of 2020[161]. - The total comprehensive income for the first half of 2021 was CNY 14.26 million, down from CNY 25.03 million in the first half of 2020, a decrease of 43.06%[161]. Cash Flow - The net cash flow from operating activities surged by 1,285.61% to ¥22,189,676.23, up from ¥1,601,438.38 in the same period last year[18]. - The cash flow from operating activities in the first half of 2021 was CNY 116.20 million, compared to CNY 102.73 million in the first half of 2020, representing an increase of 13.06%[166]. - The company reported a net cash flow from investment activities of -¥15,829,996.92, worsening from -¥12,678,316.62 year-on-year, primarily due to increased investment expenditures[168]. - The cash balance at the end of the period was ¥150,083,923.71, down from ¥32,223,696.56, indicating a decrease in liquidity[169]. Assets and Liabilities - Total assets at the end of the reporting period were ¥554,288,857.44, a 1.18% increase from ¥547,813,965.43 at the end of the previous year[18]. - The company's total current assets as of June 30, 2021, amount to 344,605,709.07 RMB, compared to 334,619,079.10 RMB at the end of 2020, reflecting an increase of approximately 0.29%[151]. - Total liabilities increased to CNY 24,643,520.29, compared to CNY 22,620,803.57 at the end of 2020, indicating a growth of 9.0%[157]. - The cash and cash equivalents decreased to CNY 89,883,807.00 from CNY 127,535,022.63 at the end of 2020, indicating a decline of 29.5%[155]. Research and Development - Research and development investment rose by 43.33% to ¥5,570,369.38, reflecting the company's commitment to enhancing innovation capabilities[40]. - New product development efforts are focused on innovative flavoring solutions, with an investment of 100 million CNY allocated for R&D in 2021[96]. - Research and development expenses rose to CNY 5,570,369.38, reflecting a 43.4% increase from CNY 3,886,439.96 in the first half of 2020[158]. Market and Sales - Domestic product sales volume increased by 20.10% compared to the previous year, with domestic sales revenue growing by 18.01%[31]. - Sales volume of the butyrolactone series products increased by 128.99%, and sales revenue grew by 107.66% compared to the same period last year[31]. - Approximately 70% of the company's products are exported, establishing stable business relationships with international companies such as Procter & Gamble and Firmenich[30]. Environmental and Regulatory Compliance - The company has implemented advanced environmental protection technologies, ensuring compliance with pollution control standards[36]. - The company has established a comprehensive safety production management system to mitigate risks associated with the handling of hazardous materials[67]. - The company has been recognized as an environmentally credible enterprise in Anhui Province for 2020, adhering to strict environmental credit evaluation standards[85]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company held its annual shareholder meeting with a participation rate of 74.99% on April 23, 2021[74]. - The company has experienced changes in its board of directors, with several new appointments made on January 5, 2021[75]. Future Outlook - The company provided a positive outlook for the second half of 2021, projecting a revenue growth of 25% based on anticipated market expansion and new product launches[97]. - The company plans to focus on future growth strategies despite the uncertainties posed by the pandemic[70]. - The company aims to improve its supply chain logistics, with a projected cost reduction of 10% by optimizing distribution channels[97].