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 ¥268,808,973.01, representing a 100.67% increase compared to ¥133,956,604.17 in the same period last year[21]. - The net profit attributable to shareholders of the listed company reached ¥46,529,169.24, an increase of 84.08% from ¥25,276,639.46 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was ¥44,044,306.84, up 76.63% from ¥24,935,398.72 year-on-year[21]. - The basic earnings per share increased by 44.12% to ¥0.49 from ¥0.34 in the same period last year[21]. - The company's operating revenue for the reporting period reached ¥268,808,973.01, a 100.67% increase compared to ¥133,956,604.17 in the same period last year, primarily due to increased production and sales volume[64]. - The company's revenue reached ¥268,594,070.39, representing a year-on-year increase of 101.20%[66]. - The gross profit margin was 23.56%, a decrease of 1.61% compared to the previous year[66]. - High-performance pure iron powder sales amounted to ¥159,093,987.44, with a year-on-year growth of 115.49%[66]. - Alloy steel powder revenue was ¥71,632,662.41, reflecting a year-on-year increase of 65.95%[66]. - The company reported a total profit of ¥53,109,991.67 for the first half of 2021, an increase of 87.6% from ¥28,336,819.00 in the same period of 2020[166]. Assets and Liabilities - Total assets at the end of the reporting period were ¥709,298,797.68, a growth of 78.16% compared to ¥398,130,724.12 at the end of the previous year[21]. - The total equity rose to ¥668,684,685.97, compared to ¥351,718,709.23 in the previous year, an increase of 90.0%[163]. - Total liabilities decreased to ¥40,614,111.71 from ¥46,412,014.89, a reduction of 12.4%[163]. - The company's cash and cash equivalents decreased by 3.72% to ¥29,158,254.83 compared to the end of the previous year[70]. - Accounts receivable increased by 45.69% to ¥42,619,865.73, attributed to higher sales volume[70]. - Inventory decreased by 33.08% to ¥20,579,090.49, indicating reduced stock levels due to increased sales[70]. Research and Development - The company has a strong focus on R&D, with a state-level high-tech enterprise research center and provincial enterprise research institute, emphasizing customer-driven and cutting-edge technology development[43]. - The company has increased R&D investment to enhance its core competitiveness, focusing on high-performance and high-quality products to attract more downstream customers[46]. - Research and development expenses for the first half of 2021 were ¥7,491,429.12, compared to ¥5,070,346.88 in the previous year, indicating a year-over-year increase of 47.8%[166]. - The company has 18 patents, including 5 invention patents, and has developed key technologies such as "high-pressure water atomization" and "stable sintering size change control," which break foreign technology barriers[51]. - The company invested in advanced R&D equipment, including a scanning electron microscope and plasma spectrometer, to improve its research capabilities[56]. Market Position and Strategy - The company specializes in high-quality iron-based powder, transforming waste metals into high-value manufacturing materials, contributing to energy conservation and emission reduction[29]. - The company has established itself as a leader in the domestic iron-based powder industry, serving well-known clients like Mercedes-Benz, BMW, and BYD[29]. - The company has developed a range of products including high-performance pure iron powder and alloy steel powder, which are widely used in industries such as automotive and home appliances[30]. - The company has established strong customer relationships through personalized products and services, maintaining existing clients while expanding its customer base[40]. - The iron-based powder industry has broad market potential, with applications in various sectors including transportation, home appliances, and medical devices, driven by advancements in powder metallurgy technology[49]. Investment and Financing - The company reported a net cash flow from financing activities of ¥267,965,100.18, a significant increase of 954.15% compared to -¥31,372,287.41 in the previous year, attributed to the inflow of funds from its IPO[64]. - The company has invested a total of 470.69 million CNY in projects, including a new material manufacturing project with an annual capacity of 70,000 tons[94]. - The company plans to use up to RMB 20,000 million of its own funds and RMB 28,000 million of temporarily idle raised funds for cash management, effective for 12 months from the shareholders' meeting approval[82]. - The company completed its initial public offering (IPO) of 25,000,000 shares, increasing total shares from 75,000,000 to 100,000,000[139]. - 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[78]. Operational Management - The company employs a production management model that combines sales-driven production with safety stock, ensuring efficient production planning based on market demand[38]. - The company has established a complete production management system, ensuring stable production operations through strict monitoring of raw material composition and process parameters[39]. - The company has implemented strict quality control measures during the procurement and production processes, including the use of spectrometers for raw material testing[36]. - The company has a well-structured management system and quality control framework, certified by ISO9001 and IATF16949, ensuring efficient production and quality assurance[60]. Risks and Challenges - The company faces market demand fluctuation risks due to reliance on industries like transportation and home appliances, which are sensitive to macroeconomic conditions[90]. - The main raw material is scrap steel, and fluctuations in its price could significantly impact the company's profit margins[92]. - 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[93]. - To mitigate talent loss, the company is focusing on improving corporate culture and establishing mechanisms for attracting and retaining high-level talent[93]. Corporate Governance - The company has not reported any major asset or equity sales during the reporting period[88][89]. - There were no changes in the board of directors, supervisors, or senior management during the reporting period[100]. - The company has not engaged in any derivative investments or entrusted loans during the reporting period[86][87]. - The financial report for the first half of 2021 was not audited[158]. - The company has not issued any preferred shares during the reporting period[153].