SHANSHUI TECH.(SZ:301190)2023-08-14 16:00Financial Performance - The company's operating revenue for the first half of 2023 was ¥236,371,566.67, a decrease of 4.06% compared to ¥246,368,928.40 in the same period last year [28]. - The net profit attributable to shareholders increased by 4.07% to ¥72,069,407.01 from ¥69,249,315.93 year-on-year [28]. - The net profit after deducting non-recurring gains and losses rose by 8.27% to ¥63,082,566.92 compared to ¥58,262,539.93 in the previous year [28]. - The net cash flow from operating activities decreased significantly by 38.93% to ¥55,872,348.96 from ¥91,486,382.80 [28]. - Total assets at the end of the reporting period increased by 8.76% to ¥2,444,218,042.07 from ¥2,247,441,733.46 at the end of the previous year [28]. - The company's basic earnings per share rose by 4.09% to ¥0.3358 from ¥0.3226 [28]. - The company achieved operating revenue of ¥236,371,566.67, a decrease of 4.06% compared to the previous year [53]. - Research and development expenses rose by 26.52% to ¥13,617,399.57, compared to ¥10,762,741.73 in the previous year [53]. - The company reported a total revenue of 63,361,100 for the first half of 2023, with a significant contribution from its subsidiary in the production and sales of sulfonic acid products [83]. Market Outlook - The agricultural pesticide market is expected to recover in the second half of 2023 due to inventory digestion and price rebound [38]. - The global pesticide market is projected to grow at an annual rate of 5.6% from 2023 to 2030, driven by the emphasis on food security [38]. - The company’s main product, 2-chloropyridine, is a key raw material for the herbicide glyphosate, which is expected to see increased market demand due to the ban on more toxic pesticides [39]. - The demand for acid dyes is expected to increase due to the rising use of nylon in consumer apparel, benefiting the company's dye products [37]. Technological Innovation - The company emphasizes the importance of technological advantages as a core competitive factor, with ongoing R&D in key products like 6-nitro and 5-nitro intermediates [8]. - The company has established a robust core technology system through years of R&D, positioning itself at the forefront of the industry [8]. - The company has developed three core technology platforms that enhance production efficiency and product quality while reducing costs compared to industry peers [40]. - The company’s innovative production techniques, such as continuous nitration and melting methods, lead to higher yields and lower environmental costs compared to traditional methods [46]. - The company has established a core technology isolation system to prevent the leakage of proprietary technologies and maintain its competitive edge [90]. Environmental Compliance - The company has maintained a strong focus on environmental protection and has implemented measures to reduce pollutant emissions, although increasing environmental costs may affect performance [6]. - The company’s focus on safety and environmental compliance is critical to maintaining operational stability and avoiding regulatory penalties [6]. - The company has implemented measures to ensure compliance with environmental protection standards, achieving all pollution factors and pollutants within acceptable discharge limits during the reporting period [86]. - The company has established a detailed annual environmental self-monitoring plan based on industry discharge permit application and issuance specifications [106]. - The company has established a hazardous waste storage facility with a capacity of 96 m² to manage waste effectively [103]. Safety Management - The company has not experienced any major safety incidents since its establishment, but faces risks related to the handling of hazardous materials in production [7]. - The company has passed the ISO 45001:2018 occupational health and safety management system certification, ensuring adherence to safety regulations and standards [120]. - The company has not experienced any major safety production accidents since its establishment, reflecting its commitment to safety management and operational standards [87]. Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares for the reporting period [11]. - There were no changes in the board of directors, supervisors, or senior management during the reporting period [96]. - The company has not engaged in any major related party transactions or non-operating fund occupation during the reporting period, reflecting sound financial practices [123]. - The company has not experienced any significant changes in the measurement attributes of its major assets during the reporting period [62]. Fundraising and Investments - The total investment amount during the reporting period was ¥94,966,868.33, representing a 201.48% increase compared to ¥31,500,393.51 in the same period last year [64]. - The company raised a total of ¥1,494,431,000.00 from its initial public offering, with a net amount of ¥1,383,972,305.77 after deducting issuance costs [71]. - The company has a remaining unused fundraising amount of 107.78 million yuan as of June 30, 2023 [75]. - The company plans to extend the completion date of its fundraising projects to December 31, 2024, due to delays caused by external factors [74]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 17,793 [148]. - Huang Guorong holds 18.64% of shares, totaling 400,000 shares [148]. - Wu Xinyan holds 11.65% of shares, totaling 250,000 shares [148]. - The total number of limited sale condition shares is 143,589,600, accounting for 66.90% [146]. - The total number of unrestricted sale condition shares is 71,046,900, accounting for 33.10% [146]. Cash Flow Management - Cash flow from operating activities was ¥55,872,348.96, a decrease of 38.93% compared to the previous year [55]. - The cash flow from investment activities resulted in a net outflow of CNY 144,103,503.65, an improvement from a net outflow of CNY 581,047,505.39 in the first half of 2022 [178]. - The company reported a net decrease in cash and cash equivalents of -81,207,373.99 CNY, compared to -526,836,686.30 CNY in the previous period, indicating a substantial improvement in cash management [180]. - The company has made significant progress in reducing its cash outflows from investment and financing activities, which may indicate a strategic shift towards better cash flow management [180].