2021-08-20-深交所-新_和_成_2021年半年度报告（英文版）_200页_2mb

报告摘要

Zhejiang NHU Company Ltd. 2021 Semi-Annual Report Summary

Core Content Overview

This document is the 2021 Semi-Annual Report of Zhejiang NHU Company Ltd. (NHU), which is a national high-tech enterprise focused on the production and sales of nutritional health products and new polymer materials. The report outlines the company's operations, financial performance, core competitiveness, and key strategic initiatives for the first half of 2021.

Main Financial Indicators

Operating Revenue: RMB 7,254,221,638.01, up by 36.79% year-on-year.
Net Profit Attributable to Shareholders: RMB 2,408,499,133.50, up by 9.03% year-on-year.
Net Profit After Deducting Non-recurring Items: RMB 2,279,454,655.63, up by 7.78% year-on-year.
Net Cash Flow from Operations: RMB 2,271,157,481.77, up by 101.42% year-on-year.
Total Assets: RMB 33,647,974,809.91, up by 8.90%.
Net Assets Attributable to Shareholders: RMB 20,231,380,128.84, up by 4.63%.

Key Business Activities

NHU has been actively responding to market opportunities and maintaining a positive growth trend despite the global pandemic.
The company has implemented strategic collaborations with shipping companies and optimized its supply chain to ensure stable product delivery.
It has established a key raw material database and implemented strategic reserves to maintain raw material supply.
Major projects, such as the 250,000-ton-per-year DL-methionine Phase II project, have been progressing smoothly.
The company has made progress in R&D, with notable achievements in technological innovation and industrialization.

Core Competitiveness

Corporate Culture and Management Team: The company emphasizes values such as "new, harmony, union" and "seeking truth, innovation, quality and efficiency." It has developed a strong management team and talent supply chain.
Technical Resources and R&D: NHU collaborates with top domestic and international research institutions and universities. It has established several research centers and has mastered advanced technologies such as supercritical reaction and high vacuum distillation.
Processes and Equipment: The company continuously improves its process and equipment through the adoption and re-innovation of advanced technologies. It has developed efficient reaction and separation platforms.
Brand Advantages: NHU has built a strong reputation in the global fine chemical industry, with recognition as one of the top feed additive brands in China and a large-scale vitamin feed additive enterprise.

Financial Analysis

Year-on-Year Changes in Key Financial Data

Item	Current Reporting Period (RMB)	Same Period of Previous Year (RMB)	Year-on-Year Change	Reason
Operating Income	7,254,221,638.01	5,303,165,502.25	36.79%	Increase in vitamin E and DL-methionine sales
Operating Cost	3,755,325,045.02	2,143,809,060.49	75.17%	Increase in sales volume and new income standard adjustments
Sales Expenses	55,479,574.90	132,057,487.52	-57.99%	Adjustment of freight and transportation premium into operating costs
Administration Expenses	187,505,914.10	183,896,476.30	1.96%	Increase in depreciation
Financial Expenses	144,530,139.09	76,306,971.80	89.41%	Increase in loan interests and foreign exchange losses
Income Tax Expense	394,709,861.22	345,891,461.03	14.11%	Increase in taxable income
Research and Development Expense	351,532,764.55	219,152,938.63	60.41%	Increase in material inputs and salaries
Net Cash Flow from Operations	2,271,157,481.77	1,127,560,220.11	101.42%	Growth in operating income and improved sales collection
Net Cash Flow from Investment Activities	-1,066,449,910.49	1,519,123,736.14	-170.20%	Decrease in expired bank financial products
Net Cash Flow from Financing Activities	351,773,744.86	-649,397,506.59	154.17%	Increase in loans
Net Additions to Balance of Equivalents	1,512,856,721.48	2,027,758,341.46	-25.39%	Decrease in expired bank financial products

Operating Income Structure

Item	Current Reporting Period (RMB)	Proportion in Operating Income	Same Period of Previous Year (RMB)	Proportion in Operating Income	Year-on-Year Change
Pharmaceutical Chemicals	6,758,771,833.00	93.17%	4,943,797,504.30	93.22%	36.71%
Nutritional Products	5,452,151,744.71	75.16%	3,720,891,315.66	70.16%	46.53%
Aroma Chemicals	1,126,980,745.24	15.53%	1,052,666,046.25	19.85%	7.06%
New Polymer Materials	418,367,560.13	5.77%	324,009,632.99	6.11%	29.12%

Regional Sales

Item	Current Reporting Period (RMB)	Proportion in Operating Income	Same Period of Previous Year (RMB)	Proportion in Operating Income	Year-on-Year Change
Domestic Sales	3,295,559,229.13	45.43%	2,056,800,286.67	38.78%	60.23%
Export Sales	3,958,662,408.88	54.57%	3,246,365,215.58	61.22%	21.94%

Summary of Key Points

Profit Distribution: No cash dividends, bonus shares, or share capitalization from capital reserves were proposed during the reporting period.
Retroactive Adjustments: The company made retroactive adjustments due to the consolidation of new subsidiaries, which affected the financial data.
Non-recurring Gains and Losses: Total non-recurring gains and losses amounted to RMB 129,044,477.87, with the main components being government subsidies, investment gains, and other non-operating items. No non-recurring items were defined as recurring.
No Major Changes: There were no significant changes in the composition of profit or sources of profit during the reporting period.
Statistical Caliber: The company's main business data was adjusted in the reporting period, but the changes were not significant.
Data Changes Over 30%: The increase in operating revenue and cost in the pharmaceutical chemical and nutritional product sectors was mainly driven by higher sales of vitamin E and DL-methionine.
R&D Investment: Research and development expenses increased by 60.41%, reflecting the company's commitment to innovation and technology.
Strategic Initiatives: NHU continued to improve its management and operational efficiency through various initiatives such as optimizing the process information system, promoting HSE management, and implementing intelligent manufacturing.