瑞丰新材(300910) - 2021 Q2 - 季度财报

Financial Performance - The company's operating revenue for the reporting period was ¥485,944,049.06, representing a 35.72% increase compared to ¥358,060,005.55 in the same period last year[26]. - The net profit attributable to shareholders was ¥104,025,316.78, a 45.66% increase from ¥71,417,066.67 year-on-year[26]. - The net profit after deducting non-recurring gains and losses was ¥101,449,145.76, up 44.37% from ¥70,268,655.11 in the previous year[26]. - The total assets at the end of the reporting period were ¥2,262,452,540.69, a decrease of 1.77% from ¥2,303,332,450.80 at the end of the previous year[26]. - The net assets attributable to shareholders were ¥2,060,964,482.29, down 0.77% from ¥2,076,939,165.51 at the end of the previous year[26]. - The operating cost increased to ¥321,175,751.70, reflecting a 37.99% rise, primarily driven by the growth in revenue and changes in product mix[76]. - The company reported a credit impairment loss of -1,716,838.52, accounting for -1.44% of total income, due to expected credit losses on receivables[85]. Research and Development - The company holds 20 domestic and 3 foreign authorized invention patents, with several more pending[36]. - Research and development investment surged by 98.04% to ¥20,709,030.74, indicating the company's commitment to enhancing its R&D capabilities[79]. - The company is investing ¥135 million in a new R&D center to further strengthen its research capabilities[68]. - The company has established partnerships with research institutes and universities to enhance its R&D innovation model[67]. - The company plans to accelerate the API certification process for composite agents, which is crucial for future product development and market competitiveness[141]. Market Position and Strategy - The company aims to target international markets and develop high-tech products, supported by multiple laboratories and a robust R&D system[36]. - The company is positioned in a favorable industry environment, benefiting from the national strategy to develop emerging industries and optimize product structure[50]. - The global lubricating oil additive market is projected to grow from 442 million tons in 2018 to 543 million tons by 2023, with a market size of approximately 18.5 billion USD[55]. - The company has become a major supplier in the domestic lubricant additive market and is gradually establishing influence in the international market[59]. - The company exports its products to Europe, the United States, Southeast Asia, and the Middle East, positioning itself as one of the largest suppliers globally in its field[64]. Operational Efficiency - The company maintains a direct sales model, avoiding distributors, and has established a robust customer base through quality products and stable supply[44]. - The procurement model is based on safety stock and demand-driven production, ensuring stable raw material supply through a qualified supplier management system[48]. - The company has implemented a comprehensive pricing mechanism considering production costs, market demand, and competition[49]. - The company continuously improves its management level and operational efficiency through optimized budget and performance management systems[54]. - The company has built a comprehensive internal control system and advanced management platforms to support stable growth[75]. Environmental Compliance - The company plans to continue its focus on environmental protection, confirming it is a key pollutant discharge unit[158]. - The company has implemented measures to ensure compliance with pollution discharge standards, including wastewater treatment facilities[158]. - The company effectively managed environmental pollutants, achieving emissions standards with particulate matter concentration at 4.8 mg/m³ and nitrogen oxides at 31 mg/m³[162]. - The company generated 85.53 tons of hazardous waste during the reporting period, with no exceedance of environmental standards[162]. - The company has established an online monitoring system for wastewater and air emissions, ensuring real-time data upload to local environmental authorities[162]. Corporate Governance - The financial report is guaranteed to be true, accurate, and complete by the company's management, with all directors present for the board meeting[3]. - The company emphasizes the importance of reading the full report, particularly the section on risks and countermeasures[3]. - The company has established contact points for investor relations, including a dedicated email for inquiries[19]. - The company held its first extraordinary general meeting of shareholders with a participation rate of 74.88% on February 3, 2021[151]. - The company is undergoing a management transition with several new board members elected on May 7, 2021[152]. Risks and Challenges - The management highlights the need for investors to understand the risks associated with future plans and performance forecasts[3]. - The company faces risks related to raw material price fluctuations, particularly crude oil derivatives, and has implemented measures to optimize supply channels and manage inventory[142]. - Export sales accounted for 42% of the company's revenue, exposing it to foreign exchange risks, which the company aims to mitigate through various hedging strategies[143]. - The company is transitioning from single agents to composite agents, with a focus on maintaining technological innovation and market adaptability[145].