JNGX(SH:600527)2022-08-25 16:00Financial Performance - The company's operating revenue for the first half of 2022 was approximately RMB 421 million, representing a 1.65% increase compared to RMB 414 million in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2022 was approximately RMB 40 million, a decrease of 15.13% from RMB 47 million in the previous year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately RMB 32 million, down 23.71% from RMB 43 million in the same period last year[18]. - The basic earnings per share for the first half of 2022 were RMB 0.0232, a decrease of 15.02% from RMB 0.0273 in the same period last year[17]. - The diluted earnings per share for the first half of 2022 were also RMB 0.0232, reflecting the same percentage decrease as the basic earnings per share[17]. - The weighted average return on net assets for the first half of 2022 was 1.66%, a decrease of 0.23 percentage points from 1.89% in the previous year[17]. - The company achieved operating revenue of 421.02 million yuan, a year-on-year increase of 1.65%, and a net profit of 40.16 million yuan, a year-on-year decrease of 15.13%[31]. - The total profit for the first half of 2022 was RMB 48,043,253.13, down 14.66% from RMB 56,316,977.76 in the first half of 2021[90]. Cash Flow and Financial Position - The net cash flow from operating activities increased significantly to approximately RMB 161 million, a 298.74% increase compared to RMB 40 million in the previous year[18]. - The company's cash and cash equivalents decreased by 13.24%, totaling CNY 301,696,395.00, compared to CNY 347,725,740.74 at the end of the previous year[41]. - The company's inventory decreased by 11.29%, amounting to CNY 311,618,448.68, compared to CNY 351,283,145.93 at the end of the previous year[41]. - The company reported a significant decrease in sales expenses by 39.99%, totaling CNY 1,766,367.38, down from CNY 2,943,635.54 year-on-year[38]. - The net cash flow from operating activities for the first half of 2022 was RMB 161,066,118.07, a significant increase of 298.5% compared to RMB 40,393,333.66 in the same period of 2021[96]. - The ending balance of cash and cash equivalents was RMB 161,105,122.81, down from RMB 443,501,426.75, a decrease of 63.7%[97]. Assets and Liabilities - The total assets of the company at the end of the reporting period were approximately RMB 2.455 billion, a decrease of 2.83% from RMB 2.527 billion at the end of the previous year[18]. - The net assets attributable to shareholders at the end of the reporting period were approximately RMB 2.304 billion, down 3.40% from RMB 2.385 billion at the end of the previous year[18]. - Total current assets as of June 30, 2022, amounted to CNY 1,380,949,604.85, a decrease from CNY 1,444,834,101.20 at the beginning of the period[81]. - Current liabilities increased from ¥87,086,296.45 to ¥100,276,249.40, reflecting a rise of approximately 15.1%[84]. - Total liabilities rose from ¥142,229,541.46 to ¥151,763,343.47, marking an increase of about 6.8%[84]. Production and Sales - In the first half of 2022, the company sold 7,094.29 tons of polyester sliver, a year-on-year decrease of 11.23%, generating revenue of 87.81 million yuan, an increase of 11.75%[31]. - The company sold 20,426.71 tons of composite short fibers in the first half of 2022, a year-on-year decrease of 7.88%, with revenue of 225.69 million yuan, a decline of 6.50%[31]. - The company has a production capacity of 230,000 tons for composite short fibers and 36,000 tons for polyester sliver, which will increase to 42,000 tons after technical upgrades[20]. Research and Development - The company has applied for 4 invention patents and participated in drafting 1 industry standard during the reporting period[33]. - The company is focusing on digital and intelligent construction to enhance smart manufacturing capabilities[36]. - Research and development expenses were RMB 16,901,259.47, a decrease of 6.43% compared to RMB 18,063,640.93 in the first half of 2021[89]. Environmental Compliance - The company reported a wastewater discharge of 3,337 tons against a permitted limit of 58,468 tons, indicating compliance with environmental standards[56]. - The company has a wastewater treatment capacity of 2,000 tons per day, utilizing a physical and biological treatment process[57]. - The company has established 12 exhaust gas treatment devices to ensure emissions meet regulatory standards[57]. - The company has implemented an environmental self-monitoring plan, with quarterly third-party testing confirming compliance with discharge standards[60]. - The company has upgraded its environmental protection facilities to improve treatment efficiency and reduce emissions[62]. Corporate Governance - The company held its annual general meeting on May 18, 2022, to elect new board members for a three-year term[51]. - The company has elected new independent directors and a new supervisory board chairman during the recent shareholder meeting[51]. - The company has no significant litigation or arbitration matters reported during the period[65]. Taxation and Grants - The main tax rates applicable to the company include a 13% VAT, 5% Urban Maintenance and Construction Tax, and corporate income tax rates of 2.5%, 15%, and 25% depending on the entity[198]. - The company obtained the high-tech enterprise certificate from Jiangsu Provincial Department of Science and Technology, valid for three years, allowing a corporate income tax rate of 15% for 2022[200]. - Government grants are recognized when the company meets the attached conditions and can receive the grants, categorized into asset-related and income-related grants[176][177].