利尔化学(002258) - 2021 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2021 was ¥3,159,600,234.67, representing a 34.51% increase compared to ¥2,348,895,340.91 in the same period last year[27]. - The net profit attributable to shareholders for the first half of 2021 was ¥504,953,337.19, a significant increase of 97.70% from ¥255,408,964.36 in the previous year[27]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥489,576,876.54, up 103.24% from ¥240,884,166.31 year-on-year[27]. - The basic earnings per share for the first half of 2021 was ¥0.9630, compared to ¥0.4871 in the same period last year, reflecting a 97.70% increase[27]. - The diluted earnings per share was ¥0.9165, an increase of 92.87% from ¥0.4752 in the previous year[27]. - The weighted average return on equity was 11.96%, up from 7.33% in the same period last year, an increase of 4.63 percentage points[27]. - Total assets at the end of the reporting period were ¥8,599,718,122.24, a 1.61% increase from ¥8,463,205,858.12 at the end of the previous year[27]. - The net assets attributable to shareholders at the end of the reporting period were ¥4,388,340,495.94, reflecting a 10.47% increase from ¥3,972,556,171.06 at the end of the previous year[27]. - The net cash flow from operating activities was ¥274,774,118.70, which is an 8.73% decrease compared to ¥301,064,832.18 in the same period last year[27]. Market and Product Insights - The global crop protection market was valued at $62.036 billion in 2020, with a year-on-year growth of 2.7%[37]. - The sales of herbicides accounted for 44.2% of the global crop protection market, with a sales value of $27.407 billion in 2020, growing by 2.9%[37]. - The company’s main product, glyphosate, is one of the top three non-selective herbicides globally, with increasing demand due to the promotion of transgenic technology[41]. - The company’s pyridine herbicides saw sales growth to $1.322 billion in 2020, capturing 4.4% of the global herbicide market[41]. - The company has seen an increase in market demand and sales prices for its main products during the reporting period[51]. Research and Development - The company’s research and development focus includes high-efficiency, low-toxicity, and low-residue pesticides[41]. - The company has a strong R&D team with advanced facilities, focusing on the innovation of pesticide products and processes[52]. - The company has successfully mastered the key technology for the industrialization of cyano-pyridine chlorination, becoming the second company globally to do so after Dow AgroSciences[52]. Environmental Management - The company has implemented a comprehensive environmental management system, achieving ISO 14001 certification and maintaining advanced industry standards[53]. - The company has invested significantly in environmental protection facilities, with increasing expenditures on waste treatment to comply with stricter national standards[95]. - The company has achieved compliance with national pollution discharge standards, with total wastewater discharge recorded at 27.32 tons against a permitted limit of 218.86 tons per annum[108]. - The company has maintained a zero incident record for major safety accidents during the reporting period, although risks remain as production scales up[95]. - The company has enhanced its control over non-organized VOC emissions, increasing monitoring points and installing automatic monitoring devices[121]. Strategic Partnerships and Market Position - The company has established a stable strategic partnership with top international agrochemical companies, exporting products to over 30 countries including the USA, Brazil, and Australia[51]. - The company operates under a "sales-driven production" principle, aligning production plans with market demand[46]. - The company has developed a robust procurement system to optimize the purchasing and storage of raw materials[46]. Challenges and Risks - The company faced challenges such as rising raw material prices and logistics issues but ensured stable production and supply[41]. - The company faces significant competition risk in the pesticide industry, which may impact sales and profitability, prompting a focus on product optimization and new product development[93]. - Raw material costs constitute a large portion of operating costs, and fluctuations in supply and prices could significantly affect gross margins and profitability[94]. Corporate Governance and Compliance - The company’s half-year financial report was not audited, indicating a lack of external verification for the reported figures[143]. - The company reported no significant litigation or arbitration matters during the reporting period[146]. - The company has complied with all regulatory requirements regarding share issuance and changes in shareholding[183]. Employee Engagement and Community Support - In the first half of 2021, the company organized 12 cultural and sports activities, with over 2,500 employee participations, enhancing employee skills and work quality[136]. - The company participated in targeted poverty alleviation efforts, purchasing local agricultural products worth around CNY 400,000 to support local agricultural development[136]. - The company donated a total of CNY 200,000 to help impoverished students in Mianyang City and Beichuan County[136].