保立佳(301037) - 2021 Q2 - 季度财报

Financial Performance - The company's operating revenue for the current reporting period reached ¥1,475,450,482.99, representing a 76.06% increase compared to ¥838,044,036.89 in the same period last year[24]. - The net profit attributable to shareholders of the listed company decreased by 4.62% to ¥45,096,721.69 from ¥47,280,709.58 in the previous year[24]. - The net cash flow from operating activities turned negative at -¥175,112,048.27, a decline of 333.87% compared to ¥74,875,560.55 in the same period last year[24]. - Total assets increased by 31.32% to ¥2,341,697,183.79 from ¥1,783,228,241.36 at the end of the previous year[24]. - The basic earnings per share for the current period is ¥0.6700, down 4.24% from ¥0.6997 in the previous year[24]. - The weighted average return on equity decreased to 8.77% from 11.10% in the previous year, indicating a decline in profitability[24]. - The company's revenue for the reporting period reached ¥1,475,450,482.99, representing a 76.06% increase compared to ¥838,044,036.89 in the same period last year, primarily due to an increase in sales prices[58]. - The production capacity of the company reached 376,800 tons in 2020, with a sales volume of 410,200 tons, positioning the company among the top players in the industry[53]. Research and Development - The company holds 43 authorized patents, including 23 invention patents and 20 utility model patents, reflecting its commitment to R&D and technological advancement[36]. - The company has a strong R&D capability, conducting both independent and collaborative research, with partnerships with institutions like Fudan University[46]. - The company has established a modern R&D center focused on acrylic emulsions, enhancing its competitive edge in the market[36]. - The company has established a comprehensive R&D system to ensure the development of new products and the upgrading of existing processes[46]. - The company's core technologies include shell-core latex particle technology and multi-net flavor technology, allowing for further innovation based on market demands[51]. - Research and development expenses rose by 42.74% to CNY 22,299,319.93, indicating a significant increase in R&D investment[61]. Market Position and Strategy - The company is focused on expanding its market presence and developing new products and technologies[17]. - The company is a core supplier for well-known paint companies such as Nippon Paint and AkzoNobel, indicating strong market relationships[35]. - The acrylic emulsion industry is expected to see significant demand growth due to the increasing shift towards water-based coatings driven by environmental policies[33]. - The acrylic emulsion industry in China is expected to undergo consolidation, with the company positioned to gain market share due to its strong capabilities and scale[47]. - The company emphasizes a "quality first" production philosophy, ensuring high product quality through optimized production processes and enhanced automation[55]. - The company has a comprehensive marketing network covering all 31 provinces and cities in China, utilizing a dual sales model targeting both strategic clients and small to medium-sized enterprises[56]. Environmental Responsibility - The report emphasizes the importance of environmental and social responsibility in its operations[28]. - Environmental protection measures are being prioritized, with a dedicated department overseeing compliance and pollution reduction initiatives[84]. - The company has implemented measures to ensure compliance with environmental standards across multiple emission points[93]. - The company has successfully maintained emissions of hydrogen sulfide at 0.00451 mg/Nm³, below the standard limit of 5.0 mg/Nm³[93]. - The company achieved compliance with environmental standards for all monitored pollutants, with no exceedances reported during the reporting period[101]. - The company has implemented a comprehensive environmental risk management plan, with no incidents of environmental pollution reported during the reporting period[105]. Governance and Internal Control - The financial report is guaranteed to be true, accurate, and complete by the company's management[4]. - The report includes a detailed discussion of the company's management and analysis of financial performance[17]. - The financial report includes a comprehensive overview of the company's governance structure[27]. - The company has committed to maintaining transparency and accountability in its financial disclosures[4]. - The company has maintained a robust internal control system and governance structure, ensuring the safety of assets and funds while protecting shareholder interests[108]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period, reflecting financial discipline[112]. Risks and Challenges - The company has outlined potential risk factors and corresponding countermeasures in the report[5]. - The company is facing risks related to raw material price fluctuations, particularly with upstream materials like acrylic acid and styrene, which could affect profit margins[78]. - To mitigate risks, the company is enhancing procurement and inventory management to control raw material costs[78]. - The company has implemented measures to strengthen cash flow management, including timely collection of accounts receivable and reducing reliance on commercial acceptance bills[80]. Shareholder Information - The total number of shares remains at 67,575,000, with 100% being limited sale shares[147]. - The largest shareholder, Yang Wenyu, holds 69.60% of the shares, amounting to 47,029,000 shares[150]. - The company did not conduct any repurchase transactions among the top 10 shareholders during the reporting period[151]. Financial Stability - The company has not experienced any bankruptcy restructuring or significant penalties during the reporting period, indicating financial stability[116][119]. - The company has not reported any major guarantees or significant contracts that could impact its financial position[130]. - The company's asset-liability ratio stands at 77.09%, highlighting concerns regarding its debt repayment capacity[82]. - The company reported a significant increase in accounts payable, which rose to CNY 205,454,602.95 from CNY 156,129,403.23, reflecting a growth of 31.6%[165].