屹通新材(300930) - 2021 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 268,808,973.01, representing a 100.67% increase compared to CNY 133,956,604.17 in the same period last year[22]. - The net profit attributable to shareholders of the listed company reached CNY 46,529,169.24, an increase of 84.08% from CNY 25,276,639.46 in the previous year[22]. - The net profit after deducting non-recurring gains and losses was CNY 44,044,306.84, up 76.63% from CNY 24,935,398.72 year-on-year[22]. - The basic earnings per share increased by 44.12% to CNY 0.49 from CNY 0.34 in the same period last year[22]. - The company's revenue for the reporting period reached ¥268,808,973.01, a 100.67% increase compared to ¥133,956,604.17 in the previous year, primarily due to increased production and sales volume[66]. - The company's net profit for the first half of 2021 was CNY 46,529,169.24, representing an increase of 84.2% from CNY 25,276,639.46 in the first half of 2020[169]. - The total comprehensive income of CNY 46,529,169.24 for the first half of 2021, compared to CNY 25,276,639.46 in the previous year, an increase of 84.2%[169]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 709,298,797.68, a 78.16% increase from CNY 398,130,724.12 at the end of the previous year[22]. - The net assets attributable to shareholders of the listed company increased by 90.12% to CNY 668,684,685.97 from CNY 351,718,709.23 at the end of the previous year[22]. - Total liabilities decreased to CNY 40,614,111.71 from CNY 46,412,014.89, a reduction of 12.5%[165]. - The total amount of raised funds is RMB 28,043.39 million, with RMB 994.96 million invested during the reporting period and a cumulative investment of RMB 3,963.37 million[80]. Cash Flow - The net cash flow from operating activities was CNY 24,854,936.20, reflecting an 8.04% increase compared to CNY 23,004,405.55 in the same period last year[22]. - The cash inflow from operating activities for the first half of 2021 was approximately ¥251.52 million, a significant increase from ¥164.09 million in the same period of 2020, representing a growth of 53.3%[172]. - The cash outflow from investment activities in the first half of 2021 was ¥376.37 million, a substantial rise from ¥7.30 million in the same period of 2020, leading to a net cash flow from investment activities of -¥294.84 million[174]. - The net cash flow from financing activities in the first half of 2021 was ¥267.97 million, a recovery from a net outflow of -¥31.37 million in the same period of 2020[176]. Research and Development - The company has a strong focus on technology innovation and new product development, with a research and development platform recognized as a provincial high-tech enterprise research center in 2012 and a provincial enterprise research institute in 2020[45]. - The company has increased its R&D investment to enhance its core competitiveness, focusing on high-performance, high-quality products and services to attract more downstream customers[48]. - Research and development expenses increased to CNY 7,491,429.12, a rise of 47.8% compared to CNY 5,070,346.88 in the first half of 2020[168]. - The company has a well-rounded R&D team with 36 technical personnel, including 2 PhD holders and 3 senior engineers, enhancing its innovation capabilities[57]. Market and Products - The company specializes in high-quality iron-based powder, transforming waste metals into high-value manufacturing materials[30]. - The main products include high-performance pure iron powder and alloy steel powder, widely used in automotive and electrical industries[31]. - The iron-based powder industry is crucial for manufacturing, with applications in various sectors including transportation, home appliances, and medical devices, indicating a broad market potential[51]. - The company has developed high-compression pure iron powder and diffusion alloy steel powder, which can replace imports and are widely used in high-density and high-strength sintered parts[55]. Corporate Governance and Compliance - The company has not reported any significant changes in its registered status or contact information during the reporting period[21]. - The company has maintained a good reputation and stable financial performance, ensuring the protection of creditor interests[110]. - The company strictly adheres to environmental regulations and has not faced any penalties related to environmental issues during the reporting period[106]. - There were no significant litigation or arbitration matters during the reporting period[122]. Shareholder Information - The company completed its initial public offering (IPO) of 25,000,000 shares, increasing total shares from 75,000,000 to 100,000,000[141]. - As of the end of the reporting period, the total number of ordinary shareholders was 17,026, with the largest shareholder holding 57.28% of the shares[147]. - The largest shareholder, Wang Zhirong, holds 57,281,250 shares, while the second-largest shareholder, Wang Zhichun, holds 13,218,750 shares[147]. Investment and Projects - The company plans to invest in the "upgrade and transformation project for an annual production of 130,000 tons of iron and copper-based new materials," which includes relocating the existing 80,000-ton capacity to a new production base in Huatang District[138]. - The annual production project for 70,000 tons of imported substitute iron and copper-based new materials has a commitment investment of RMB 40,407.97 million, with only 14.49% of the expected progress achieved[83]. - The company has not encountered any major changes in project feasibility or significant delays in expected benefits from the investment projects[83]. Risks and Challenges - The company faces market demand fluctuation risks due to reliance on industries such as transportation and home appliances, which are influenced by macroeconomic conditions[92]. - The main raw material is scrap steel, and fluctuations in its prices could significantly impact procurement costs and profit margins[94]. - The company has maintained a low turnover rate among technical personnel, but faces risks due to increasing market demand for skilled workers in the powder metallurgy industry[95].