屹通新材(300930) - 2022 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2022 was ¥213,304,366.81, a decrease of 20.65% compared to ¥268,808,973.01 in the same period last year[20]. - Net profit attributable to shareholders was ¥52,036,487.34, an increase of 11.84% from ¥46,529,169.24 in the previous year[21]. - The net cash flow from operating activities reached ¥89,701,962.14, a significant increase of 260.90% compared to ¥24,854,936.20 in the same period last year[21]. - Basic earnings per share were ¥0.52, up 6.12% from ¥0.49 in the previous year[21]. - Total assets at the end of the reporting period were ¥798,761,696.79, reflecting a growth of 2.83% from ¥776,791,061.45 at the end of the previous year[21]. - Net assets attributable to shareholders increased by 5.85% to ¥760,456,105.01 from ¥718,420,981.46 at the end of the previous year[21]. - The weighted average return on net assets decreased to 7.01% from 7.67% in the previous year, a decline of 0.66%[21]. - The company reported a significant reduction in sales expenses by 59.28% to ¥707,765.61, attributed to decreased travel and business entertainment costs due to the pandemic[58]. - The company reported a total comprehensive income of CNY 52,036,487.34 for the first half of 2022, indicating a significant increase in profitability compared to previous periods[186]. Investment and R&D - The company invested in research and development, with a focus on customer-driven and cutting-edge technology, enhancing its technical reserves for future market expansion[42][43]. - The company has invested ¥524,341,882.40 during the reporting period, reflecting a 22.25% increase compared to the previous year[68]. - Research and development expenses increased by 8.77% to ¥8,148,466.18, indicating a continued focus on innovation[58]. - The company has committed to increasing R&D investment to enhance product quality and after-sales service[88]. - The company plans to invest in a project to produce 20,000 tons of high-end metal soft magnetic powder, utilizing 64 acres of land and new production equipment[146]. Market Position and Products - The company specializes in high-performance iron-based powder, which is widely used in various industries including automotive and home appliances[32]. - The company has established itself as a leader in the domestic iron-based powder industry, serving major clients such as Mercedes-Benz, BMW, and BYD[32]. - The company’s products include high-performance pure iron powder and alloy steel powder, with specific properties such as oxygen content ≤0.15 wt% and compressibility ≥7.12 g/cm³[33]. - The market for iron-based powder is expected to expand significantly due to increasing applications in aerospace, high-end equipment, and medical devices[31]. - The company has developed high-compression pure iron powder (300WG), diffusion alloy steel powder (2300WA, 2300WB), and sintered hardening powder (5300WA), which can replace imports and are widely used in high-density and high-strength sintered products[49]. Financial Management and Cash Flow - The net increase in cash and cash equivalents was ¥34,116,782.42, a remarkable increase of 1,786.23% compared to the previous year[58]. - The company reported a significant increase in bank deposits with Zhejiang Jiande Rural Commercial Bank, ending the period with a balance of ¥54,206,314.60 after deposits of ¥557,538,863.08[138]. - The company generated RMB 691.99 million in idle raised funds investment income during the reporting period, with a cumulative income of RMB 1,026.20 million[77]. - The cash flow from investment activities was negative at CNY -45,585,179.72, an improvement from CNY -294,843,494.36 in the first half of 2021[182]. - The ending balance of cash and cash equivalents was CNY 73,032,750.12, compared to CNY 29,158,254.83 at the end of the first half of 2021, marking an increase of approximately 150%[181]. Shareholder and Governance Matters - The company plans not to distribute cash dividends or issue bonus shares for the semi-annual period[99]. - The company held three shareholder meetings during the reporting period, with a participation rate of 75.00% for each meeting[97]. - The company has not reported any significant changes in the feasibility of its projects[78]. - The company has committed to fulfilling its obligations regarding share buybacks from cash dividends if necessary[117]. - The company will ensure compliance with relevant laws and regulations regarding share repurchases and stock reductions[113]. Risks and Challenges - The company has faced risks that are detailed in the report, which investors should carefully consider[4]. - The company is exposed to raw material price volatility, particularly for scrap steel, which could pressure profit margins[89]. - The company faces risks from market demand fluctuations, particularly in the transportation and home appliance sectors, which could impact revenue[88]. - The company emphasizes the importance of retaining technical talent to maintain its innovation capabilities in the powder metallurgy industry[90]. Corporate Social Responsibility - The company emphasizes environmental protection and operates as a waste resource comprehensive utilization enterprise, converting waste metals into high-value manufacturing materials[109]. - The company donated a total of 10,000 yuan in teaching supplies to a local kindergarten during the reporting period[110].