Revenue and Profitability - Revenue for the six months ended June 30, 2024, was RMB 3,476,752,000, a decrease of 5.8% compared to RMB 3,691,759,000 for the same period in 2023[2] - Net profit for the period was RMB 373,827,000, down 11.2% from RMB 421,029,000 in the prior year, with a net profit margin of 10.8%[2] - The company reported a total comprehensive income of RMB 368,564,000 for the period, down from RMB 453,114,000 in the previous year[4] - Basic earnings per share decreased to RMB 0.32 from RMB 0.37, while diluted earnings per share fell to RMB 0.30 from RMB 0.34[2] - The company's EBITDA decreased by approximately 3.0% from RMB 573,450 thousand to RMB 556,094 thousand for the six months ended June 30, 2024[71] Revenue Breakdown - Revenue from traditional pressure equipment increased to RMB 1,249,383 thousand, up 16.8% from RMB 1,069,274 thousand in the previous year[14] - Revenue from reactors rose to RMB 664,387 thousand, a significant increase of 46% compared to RMB 455,349 thousand in 2023[14] - Revenue from heat exchangers was RMB 351,164 thousand, showing a slight increase of 7.6% from RMB 326,208 thousand in the previous year[14] - Revenue from modular pressure equipment decreased to RMB 2,143,433 thousand, down 16% from RMB 2,551,515 thousand in 2023[14] - Revenue from mainland China was RMB 1,524,316 thousand, a decrease of 32.7% from RMB 2,268,690 thousand in the previous year[17] - Revenue from North America increased to RMB 549,514 thousand, up 10.9% from RMB 495,623 thousand in 2023[17] Assets and Liabilities - Total assets less current liabilities increased to RMB 5,139,379,000 from RMB 4,661,063,000 as of December 31, 2023[6] - Non-current assets, including property, plant, and equipment, rose to RMB 2,681,476,000 from RMB 2,538,097,000[5] - Current liabilities decreased to RMB 3,556,253,000 from RMB 4,271,013,000, indicating improved liquidity[6] - Trade receivables as of June 30, 2024, amounted to RMB 1,229,060,000, an increase from RMB 1,106,792,000 as of December 31, 2023[33] - Trade payables as of June 30, 2024, were RMB 1,061,756,000, down from RMB 1,254,536,000 as of December 31, 2023[35] Expenses and Costs - Total employee costs decreased slightly to RMB 602,932,000 in the first half of 2024 from RMB 626,217,000 in 2023, a reduction of 4%[20] - Research and development costs reached RMB 219,020,000 in the first half of 2024, compared to RMB 168,090,000 in the same period of 2023, reflecting a growth of 30%[22] - The company's pre-tax profit was impacted by an increase in tax provision to RMB 113,261,000 for the six months ended June 30, 2024, compared to RMB 68,968,000 in 2023, an increase of 64%[24] - The actual tax expense for the six months ended June 30, 2024, was RMB 93,660,000, compared to RMB 75,401,000 in 2023, reflecting an increase of 24%[24] - Inventory costs decreased to RMB 2,448,304,000 in the first half of 2024, down from RMB 2,682,667,000 in 2023, a decline of 9%[22] Shareholder Activities - The company declared an interim dividend of RMB 200,000,000 for the six months ended June 30, 2024, compared to RMB 50,000,000 for the same period in 2023[37] - A total of 4,676,227 stock options were exercised in the six months ended June 30, 2024, resulting in an increase in share capital of RMB 10,712,000[40] - The company repurchased and canceled a total of 1,592,000 shares at prices ranging from HKD 4.30 to HKD 6.18 during the six months ended June 30, 2024[41] Acquisitions and Investments - The group acquired a 49% stake in Morimatsu Dialog for a cost of RMB 55,176,000, with a subsequent investment of RM 31,110,000 (approximately RMB 46,251,000) in April 2024[43] - In June 2024, the group completed the acquisition of 100% equity in SenSong Biotechnology for RMB 12,755,000, following a capital injection of RMB 7,475,000 from non-controlling shareholders[43] - The group also acquired 100% equity in SenZhong Biotechnology for RMB 16,800,000, with RMB 6,800,000 paid by June 30, 2024[43] - The company completed the acquisition of 100% equity in Shandong Keda Chemical Engineering Co., Ltd. on March 15, 2024[80] Market Trends and Future Outlook - The group aims to provide leading core equipment and high-value process solutions, focusing on "health," "green," and "smart" development themes[44] - Long-term trends indicate that global policies favoring new energy vehicles will continue, providing a supportive environment for the group's business growth[51] - The demand for semiconductor-grade wet electronic chemicals in China is projected to reach 1.385 million tons by 2025, driven by the expansion of 12-inch wafer production lines[52] - The company's manufacturing base in Malaysia is undergoing expansion with a total investment of approximately USD 60 million, expected to be completed by Q1 2025[55] Other Financial Metrics - Government grants increased significantly to RMB 12,761,000 in the six months ended June 30, 2024, compared to RMB 3,368,000 in the same period of 2023, representing a growth of 278%[19] - Interest income rose to RMB 25,697,000 for the six months ended June 30, 2024, up from RMB 21,626,000 in 2023, marking an increase of 18%[19] - Other income rose significantly from RMB 14,121 thousand to RMB 60,689 thousand, primarily due to increased foreign exchange gains and higher interest income from deposits[64]

今天这是我们最后一场深松国际的公司的交流在线的是公司的这个领导邵总我是华远海外的分析师朱云深松国际我看大家确实关注度还是蛮高的从报名的情况来说因为也是一个很纯正的这个就是海外业务占比比较重的一个公司我相信大家关注度都蛮高楚海这条线 那接下来呢就请邵总给我们对近期市场关注度比较高的一些问题或者是这半年的业务进展做一个介绍然后后面会开放给大家QA有问题的话可以待会在主持人播报后直接提问谢谢邵总麻烦您谢谢谢谢谢谢谢谢杜老师谢谢华人华人证券搞的这次活动我是四通国际邵业 也不知道之前有没有跟诸位交流过的非常高兴参加这次活动因为之前也是跟朱老师讲这周吧这周我才从国外回来五月份就是年报之后其实我蛮长一段时间是待在国外的所以说也是跟海外的一些包括客户也好我们的合作伙伴也好有一些比较多的交流也趁此机会吧回国之后有机会能够接触华人正确这个平台 跟大家交流一下我们最近一段时间的感受和公司未来的一段发展趋势吧因为首先给大家一组数据吧能够跟大家参考一下其实从去年以来我们的内需下降了大概是50%以上吧就是内需的一个绝对金额从22年从23年到22年其实我们感觉国内市场的需求在各个赛道相对来说 是处于一个比较疲软的一个阶段那么外需的话从去年 ...

Financial Performance - The company achieved a historic high in performance during 2023, driven by effective project management and customer engagement[6]. - The company reported a significant increase in revenue, achieving a total of $1.2 billion, representing a 15% year-over-year growth[16]. - Revenue for the year ended December 31, 2023, reached RMB 7,360,262, an increase of 13.4% compared to RMB 6,486,277 in 2022[41]. - Net profit increased by approximately 26.5% to about RMB 842,548 thousand for the year ended December 31, 2023, compared to approximately RMB 666,182 thousand for the year ended December 31, 2022, with a net profit margin of about 11.4%[138]. - EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) rose by approximately 28.3% to about RMB 1,143,066 thousand for the year ended December 31, 2023, from approximately RMB 890,682 thousand for the year ended December 31, 2022[140]. Market Expansion and Strategy - The company aims to expand its market presence by actively exploring new markets, new tracks, and new customers while enhancing internal talent development and external partnerships[10]. - Market expansion plans include entering three new countries by the end of the fiscal year, projected to increase market share by 5%[16]. - The company is considering strategic acquisitions to bolster its product offerings, with a budget of $100 million allocated for potential deals[16]. - The company aims to maintain sustainable growth by expanding its market vision and focusing on new technologies and products from various downstream industries[68]. - The company is actively exploring overseas markets to mitigate reliance on specific industries and customer groups, ensuring continuous growth despite local market contractions[69]. Research and Development - The company plans to continue focusing on research and innovation, aligning with national dual carbon goals and integrating energy-saving concepts into its products[10]. - The company is investing $50 million in R&D for new technologies aimed at enhancing product efficiency[16]. - The company is focusing on R&D in advanced manufacturing automation, biopharmaceutical technology, and new energy production technologies[113]. - The company has established joint laboratories with downstream enterprises and collaborated with well-known universities for innovation and development projects[113]. Sustainability and Corporate Responsibility - The management team emphasized a commitment to sustainability, with plans to reduce carbon emissions by 30% over the next five years[16]. - The company is actively involved in community service and professional organizations, enhancing its corporate social responsibility profile[28]. Product and Service Development - The company is transitioning from a traditional manufacturing model to a composite business model that includes "product + service" and "technology + product + service" offerings[8]. - The company aims to provide customized services including joint R&D and digital operation support, enhancing its service-oriented manufacturing model[42]. - The new business model MVP Solutions+ focuses on a combination of complete products, technology transfer, and ongoing services, enhancing customer loyalty and reducing reliance on hardware investments[50]. - Continuous services include joint R&D, technical consulting, and digital operation and maintenance platforms, fostering long-term interactions with downstream clients[60]. Management and Governance - The company is expanding its management team with experienced professionals to enhance governance and oversight capabilities[27][29][31][36]. - The board includes independent non-executive directors who provide independent judgment and oversight to the company's management[28][31]. - The board of directors includes experienced executives, ensuring strong leadership and governance[169]. - The company has implemented appropriate insurance for directors and senior management, providing necessary protection[172]. Financial Health and Risk Management - Total assets as of December 31, 2023, amounted to RMB 8,932,076, an increase of 12.2% from RMB 7,960,582 in 2022[41]. - Total liabilities decreased to RMB 4,541,467 in 2023, down 11.6% from RMB 5,137,936 in 2022[41]. - The company has established a risk management framework to address operational, financial, and market risks, ensuring efficient and safe operations[194]. - The company faces market risks primarily from cyclical developments in downstream markets, but maintains a diversified customer base to mitigate these risks[197]. Employee Development and Corporate Culture - The company employs nearly 4,500 people, with over 650 in R&D, and has established a comprehensive training system for talent development[111]. - The group has established a comprehensive compensation and benefits system, ensuring competitive market salaries to attract and retain high-quality employees[187]. - The group has implemented a pre-IPO stock option plan, a post-IPO stock option plan, and a restricted stock unit plan[188].

研究报告Research Report 3 Apr 2024 森松国际 Morimatsu International Holdings (2155 HK) 2023 年报点评：在手订单充裕，海外需求强劲，多元化订单助力稳健增长 Abundant Orders on Hand, Strong Overseas Demand, Diversified Orders to Help Steady Growth [观Ta点bl聚e_焦yem Inevie1s] tment Focus [Tab 维le_ 持Inf 优o] 于大市Maintain OUTPERFORM (Please see APPENDIX 1 for English summary) 事件：公司于2024年3月28日发布2023年全年业绩。 评级 优于大市OUTPERFORM 现价 HK$4.45 点评 目标价 HK$10.20 【多元化行业/领域及地区的订单助力业绩稳健增长】 HTI ESG 3.3-4.0-4.0 1. 2023全年公司共实现收入73.6亿元，同比+13.47%，增长主要 E-S-G: 0-5, (Please refer t ...

智通财经APP讯，森松国际(02155)发布截至2023年12月31日止年度业绩，该集团期内取得收益73.6亿元 (人民币，下同)，同比增加13.47%;公司权益股东应占溢利8.45亿元，同比增加26.21%;每股基本盈利0.73 元。 公告称，集团的毛利由截至2022年12月31日止年度的约17.93亿元增长约14.6%至截至2023年12月31日止 年度的约20.56亿元，增幅略高于收益。得益于集团总体运营效率的提升，截至2023年12月31日止年 度，集团毛利率约为27.9%，与截至2022年12月31日止年度相比基本维持稳定。 集团的研发开支由截至2022年12月31日止年度的约3.16亿元增长约32.3%至截至2023年12月31日止年度 的约4.18亿元，主要原因是集团持续增加对新领域、新产品及新工艺的人力、物力投入，以增强核心竞 争力。截至2023年12月31日止年度，研发开支占集团总收益的约5.7%(2022年同期：4.9%)。 ...

Revenue and Profit Growth - Revenue for 2023 reached RMB 7,360,262,000, a 13.5% increase from RMB 6,486,277,000 in 2022[2] - Gross profit increased to RMB 2,055,704,000 in 2023, up 14.6% from RMB 1,793,386,000 in 2022[2] - Net profit rose to RMB 842,548,000 in 2023, a 26.5% increase from RMB 666,182,000 in 2022[2] - Total revenue for 2023 reached RMB 7,360,262 thousand, an increase from RMB 6,486,277 thousand in 2022[15] - Revenue increased by 13.5% from approximately RMB 6,486,277 thousand in 2022 to approximately RMB 7,360,262 thousand in 2023, driven by a large order in the oil refining industry[84] - Gross profit grew by 14.6% from approximately RMB 1,793,386 thousand in 2022 to approximately RMB 2,055,704 thousand in 2023, with a stable gross margin of 27.9%[89] - Net profit increased by 26.5% to RMB 842,548 thousand, with a net profit margin of 11.4%, up from 10.3% in 2022[103] - Adjusted EBITDA for the year ended December 31, 2023, was approximately RMB 1,143,066 thousand, a 28.3% increase from RMB 890,682 thousand in 2022[105][106] New Orders and Business Segments - Newly signed orders amounted to RMB 7,784,856,000 in 2023, a decrease of 16.8% from RMB 9,355,794,000 in 2022[2] - Revenue from modular pressure equipment grew significantly to RMB 4,553,792 thousand in 2023, up from RMB 3,648,656 thousand in 2022[15] - The company's new order intake for the pharmaceutical and biopharmaceutical sector accounted for 33.47% of total new orders, with a value of RMB 2,605,267 thousand[68] - The chemical industry contributed 21.42% to the company's new order intake, amounting to RMB 1,667,796 thousand[68] - The electronic chemicals sector represented 14.95% of new orders, with a value of RMB 1,164,186 thousand[68] - The company's total new order intake for the year reached RMB 7,784,856 thousand, with the pharmaceutical and biopharmaceutical sector being the largest contributor[68] - The pharmaceutical and biopharmaceutical sector contributed RMB 2,228,092 thousand, accounting for 30.3% of total revenue, with a year-on-year increase of 3.4%[85] - The oil refining sector saw a significant revenue increase of 502.9%, contributing RMB 971,601 thousand, up from RMB 161,158 thousand in 2022[85] Financial Position and Assets - Total assets minus current liabilities increased to RMB 4,661,063,000 in 2023 from RMB 3,081,176,000 in 2022[7] - Cash and cash equivalents stood at RMB 2,168,682,000 in 2023, a 58.2% increase from RMB 1,370,359,000 in 2022[7] - Property, plant, and equipment grew to RMB 2,105,463,000 in 2023, up 30.8% from RMB 1,609,565,000 in 2022[6] - Equity attributable to shareholders of the company increased to RMB 4,382,491,000 in 2023 from RMB 2,815,730,000 in 2022[9] - Total equity rose to RMB 4,390,609,000 in 2023, a 55.5% increase from RMB 2,822,646,000 in 2022[9] - The company's total equity increased from RMB 990.669 million at the beginning of 2022 to RMB 2,093.434 million by the end of 2023, reflecting significant growth in capital and reserves[52] - Property, plant, and equipment increased by 30.8% to RMB 2,105,463 thousand as of December 31, 2023, driven by construction investments in the Suzhou manufacturing base[107] - Trade and other receivables grew by 28.6% to RMB 1,499,372 thousand as of December 31, 2023, due to increased revenue[108] - Inventory decreased by 18.7% to RMB 1,800,466 thousand as of December 31, 2023, as large orders were in the early design phase[109] - Contract liabilities decreased by 20.8% to RMB 2,290,334 thousand as of December 31, 2023, due to revenue recognition from 2022 orders and new 2023 orders not yet reaching payment milestones[110] - Total borrowings decreased by 17.8% to RMB 365,083 thousand as of December 31, 2023, with a debt-to-equity ratio dropping to 8.3% from 15.7% in 2022[111] - Cash and cash equivalents increased by RMB 798,323 thousand to RMB 2,168,682 thousand as of December 31, 2023[112] Costs and Expenses - Employee benefits and salaries increased to RMB 1,128,338 thousand in 2023, compared to RMB 857,619 thousand in 2022[23] - R&D costs increased to RMB 418.149 million in 2023, up from RMB 316.084 million in 2022, with employee costs accounting for RMB 194.026 million (2022: RMB 155.469 million)[25] - Inventory costs rose to RMB 5.304 billion in 2023, compared to RMB 4.692 billion in 2022, including employee costs of RMB 628.22 million (2022: RMB 538.824 million)[26] - Depreciation expenses for property, plant, and equipment increased to RMB 116.263 million in 2023 from RMB 89.668 million in 2022[25] - Current tax provision for the year amounted to RMB 126.422 million in 2023, up from RMB 96.623 million in 2022[27] - Deferred tax liabilities increased to RMB 15.364 million in 2023, compared to a reversal of RMB 1.888 million in 2022[27] - R&D expenses grew by 32.3% to RMB 418,149 thousand, accounting for 5.7% of total revenue, up from 4.9% in 2022[100] - Sales and marketing expenses decreased by 5.0% to RMB 175,228 thousand, accounting for 2.4% of total revenue, down from 2.8% in 2022[98] - General and administrative expenses rose by 6.4% to RMB 543,143 thousand, accounting for 7.4% of total revenue, down from 7.9% in 2022[99] - Income tax expenses surged by 49.7% to RMB 141,786 thousand, with an effective tax rate of 14.4%, up from 12.5% in 2022[102] International Business and Market Expansion - Revenue from the North American market increased to RMB 863,532 thousand in 2023, compared to RMB 515,899 thousand in 2022[20] - Revenue from Asia (excluding Mainland China) rose to RMB 1,824,800 thousand in 2023, up from RMB 1,007,267 thousand in 2022[20] - The company's overseas business exceeded expectations, with a rebound in demand, leading to confidence in steady growth for 2024 despite a slowdown in new order intake[70] - The company established Pharmadule Singapore with a registered capital of SGD 3,000,000 to support life sciences business expansion in Southeast Asia[114] - Morimatsu Singapore acquired 100% of Morimatsu T&S, which has a registered capital of JPY 100 million, to support energy materials business[115] - Lifesciences Singapore was established with a registered capital of SGD 300,000 to support overseas expansion of the life sciences business[115] - The company directly retains 51% of the shares and gains control of the joint venture, Morimatsu Dialog, to strengthen management synergy[116] - The subsidiary, Morimatsu Engineering, acquired 100% equity of Shandong Keda Chemical Engineering Co., Ltd[116] - Morimatsu T&S subscribed to 140,056 preferred shares of 3DC Corporation for a total of 49,999,992 JPY, holding 2.82% equity post-subscription[116] - The company established a new wholly-owned subsidiary, Morimatsu International Investment Limited (MII), with a registered capital of 10,000 HKD[117] Projects and Innovations - The company secured a contract for a biofuel modular plant project, expected to process 200,000 tons of non-recyclable waste annually and produce 125 million liters of biofuel and renewable chemicals[73] - The company successfully delivered core equipment for a biofuel project, contributing to the production of sustainable aviation fuel and biogas from waste materials[74] - The company signed a contract for a battery raw materials project, marking the first overseas deployment of its lithium hexafluorophosphate technology[75] - The company completed the delivery of a ternary cathode material project, advancing new kiln technology in the lithium battery industry[75] - The company delivered a refinery expansion project, including 150 core equipment units and 100 modules, marking its largest refinery project order from the client[76] - The company signed a contract for a 40,000-ton/year ethylene acrylic acid (EAA) plant, breaking the monopoly of ultra-high-pressure equipment manufacturing in Europe and the US[77] - The company successfully shipped a customized molten salt reaction system, achieving domestic substitution and showcasing its capabilities as a comprehensive solution provider[77] - The company delivered the world's largest injection-grade recombinant human albumin fermentation system, capable of producing approximately 100 tons annually[79] - A modular pharmaceutical factory project for an international pharmaceutical company was successfully shipped, covering a total construction area of approximately 5,000 square meters[79] - The Malaysia manufacturing base expansion project, with an investment of approximately USD 60 million, focuses on producing equipment for electric vehicle raw materials, semiconductors, and green energy[82] - The Changshu manufacturing base, covering approximately 130,000 square meters, was fully delivered in Q4 2023 and is ready for production, targeting the biopharmaceutical and high-purity industries[83] - The company successfully delivered a plastic recycling project for an international client, utilizing chemical recycling to produce high-purity food-grade PET[80] - The Malaysia manufacturing base achieved a milestone with the first module project shipment for high-purity sulfuric acid used in large-scale integrated circuits[81] Corporate Governance and Shareholder Information - The company's Chinese subsidiaries benefit from a preferential tax rate of 15% due to their high-tech enterprise status[32] - The company recognized a deferred tax liability of RMB 14.921 million for a 10% withholding tax on dividends of RMB 150 million to be distributed by a subsidiary[33] - Basic earnings per share increased to RMB 0.726 in 2023, calculated based on a net profit of RMB 844.684 million and 1.163 billion weighted average shares[35] - The company's subsidiaries in Sweden, the US, India, Japan, Italy, and Mexico are subject to corporate tax rates ranging from 20.6% to 33.58%[29][30] - The company's subsidiaries in Singapore are subject to a 17% corporate tax rate, but no provision was made as they had no taxable income in 2023[31] - Weighted average number of shares increased from 1,050,774,000 in 2022 to 1,163,300,000 in 2023[36] - Diluted earnings per share calculated based on a profit attributable to shareholders of RMB 844,684,000 in 2023, up from RMB 669,266,000 in 2022[37] - The company did not declare or approve any dividends for the years ending December 31, 2022, and 2023[58] - The board proposed a final dividend of HKD 0.1 per share for the year ended December 31, 2023, subject to shareholder approval[119] - The company will hold its Annual General Meeting on June 18, 2024, and will suspend share registration from June 13 to June 18, 2024[120] - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[121] - The company has complied with the Corporate Governance Code and has not deviated from its provisions during the reporting period[122] - The company has appointed KPMG as its auditor for the reporting period and will propose its reappointment at the Annual General Meeting[125] Other Financial Metrics - The company's remaining performance obligations as of December 31, 2023, amounted to RMB 9,077,735 thousand, indicating future revenue to be recognized over the next 12 to 36 months[18] - Government grants increased significantly to RMB 28,090 thousand in 2023, compared to RMB 3,306 thousand in 2022[22] - Interest income rose to RMB 59,765 thousand in 2023, up from RMB 15,259 thousand in 2022[22] - The company's financial costs decreased to RMB 13,291 thousand in 2023, down from RMB 15,951 thousand in 2022[23] - Contract assets increased to RMB 866,310,000 in 2023 from RMB 830,927,000 in 2022[40] - Trade and other payables increased to RMB 1,669,850,000 in 2023 from RMB 1,633,543,000 in 2022[49] - Trade payables aged within three months decreased to RMB 761,296,000 in 2023 from RMB 1,005,728,000 in 2022[50] - The exchange reserve increased by RMB 25.531 million in 2023, compared to an increase of RMB 615,000 in 2022[52] - The company's share capital increased from RMB 643.657 million at the beginning of 2023 to RMB 1,302.751 million by the end of the year, driven by share issuances and exercises of share options[53] - The capital reserve increased by RMB 36.221 million in 2023, primarily due to equity-settled share-based payments[52] - The company's total equity changes in 2023 amounted to RMB 919.194 million, driven by net profit, share issuances, and other comprehensive income[52] - The company's financial assets are categorized into three levels of fair value measurement: Level 1 (active market quotes), Level 2 (observable inputs without significant unobservable inputs), and Level 3 (significant unobservable inputs)[62] - As of December 31, 2023, the fair value of Level 2 forward foreign exchange contracts is estimated based on the current forward prices from the Bank of China[65] - The company invested RMB 10,000,000 to acquire a 1.75% equity stake in Quanxin Quanyi (Shanghai) Life Technology Co., Ltd., classified as a financial asset at fair value through profit or loss[66] - The cost of treasury shares repurchased for equity-settled share-based payments in 2023 was RMB 37.110 million, slightly higher than the RMB 36.581 million in 2022[55] - A total of 9,327,555 restricted share units were vested and exercised in 2023, with a value of RMB 34.056 million[56] - The company issued 80 million shares in 2023, raising RMB 567.206 million in net proceeds[54] - As of December 31, 2023, the company had nearly 4,500 employees, including over 650 R&D personnel, accounting for more than 14% of the total workforce[118]

Financial Performance - Morimatsu International Holdings reported a significant increase in revenue, achieving a total of HKD 1.2 billion, representing a growth of 15% year-over-year[2]. - The company reported a significant increase in demand for its services due to the rising need for environmentally friendly materials and sustainable energy solutions[11]. - The company's operating revenue for the reporting period was approximately RMB 3,691.76 million, a year-on-year increase of about 24.5%[27]. - The net profit attributable to the parent company was approximately RMB 422.35 million, a year-on-year increase of about 39.5%[27]. - Total revenue for the six months ended June 30, 2023, was approximately RMB 3,691,759 thousand, representing a year-on-year increase of 24.5% compared to RMB 2,964,865 thousand in the same period of 2022[39]. - The gross profit for the six months ended June 30, 2023, was approximately RMB 1,009,092 thousand, reflecting a growth of 28.0% from RMB 788,424 thousand in the same period of 2022, with a gross margin of 27.3%[43]. - Net profit for the six months ended June 30, 2023, was approximately RMB 421,029 thousand, a year-on-year increase of 39.2% from RMB 302,536 thousand, resulting in a net profit margin of 11.4%[49]. - The company reported a significant increase in the oil and gas refining segment, with revenue rising by 187.5% to RMB 221,536 thousand[39]. - The electronic chemicals segment saw significant growth, with revenue increasing by 141.0% to RMB 657,367 thousand, up from RMB 272,742 thousand in the previous year[39]. Market Expansion and Strategy - Morimatsu plans to enter the Southeast Asian market, targeting a market share of 10% within the next three years[2]. - The company is actively pursuing market expansion opportunities in the Asia-Pacific region, particularly in Malaysia and China[9]. - The company aims to enhance its global supply chain partnerships through a structured process that can take up to 10 years to achieve strategic cooperation[18]. - The company is exploring strategic partnerships and acquisitions to enhance its technological capabilities and market presence[11]. - The company has established subsidiaries in China and Malaysia to enhance its operational capabilities and market reach[9]. - The company has launched a new line of electronic chemicals, contributing to 5% of total revenue in the last quarter[2]. Research and Development - The company is investing HKD 200 million in R&D for new biopharmaceutical technologies, aiming to enhance its product offerings in the next two years[2]. - The company has established joint laboratories with downstream enterprises and collaborated with renowned universities to enhance R&D capabilities in various fields, including advanced manufacturing and biopharmaceutical technologies[34]. - Research and development expenses increased by 15.5% to approximately RMB 168,090 thousand, driven by an increase in R&D personnel and investment in new energy and energy-saving technologies[47]. - New product development teams have been successfully established, focusing on disposable bioreactor technology, which has already generated revenue[34]. Operational Efficiency - Morimatsu is implementing a digital operation strategy, projected to reduce operational costs by 15% over the next year[2]. - The firm reported a net profit margin of 12%, up from 10% in the previous year, reflecting improved operational efficiency[2]. - The company's digital operation and maintenance platform allows for real-time tracking of product performance and operational conditions, facilitating timely maintenance and technical improvements[17]. - The systematic solutions enhance the reliability of core equipment design and manufacturing, as well as project execution in various regions, strengthening the company's competitive advantage[13]. Financial Position and Investments - The company’s total equity attributable to shareholders increased to RMB 3,924,932 thousand from RMB 2,815,730 thousand at the end of 2022, indicating strong growth in shareholder value[106]. - Cash and cash equivalents increased by approximately RMB 561,946,000 to RMB 1,932,305,000 as of June 30, 2023, compared to RMB 1,370,359,000 as of December 31, 2022[55]. - The company plans to utilize the net proceeds primarily for capital investments in manufacturing facilities in Suzhou, China, and Malaysia, as well as for market expansion into Europe[58]. - The company has utilized approximately 60% of the net proceeds from its IPO for capacity enhancement and modular manufacturing capabilities, totaling HKD 412,014,000[66]. Corporate Governance and Shareholder Matters - The company has adopted and complied with the corporate governance code as per the listing rules during the reporting period[93]. - The company has not declared any interim dividends for the six months ending June 30, 2023[64]. - Major shareholder, Morimatsu Holdings, holds 750,000,000 shares, accounting for 63.54% of the total issued share capital as of June 30, 2023[97]. - The company has maintained a public float of no less than 25% of its issued shares since its listing[64].

[0 -> 22] 大家好欢迎参加三松国际2023年中期业绩发表会目前所有参会者均处于静音发牌下面开始播报免责声明本次会议仅服务于参会的广大投资者 [23 -> 41] 关于音频及文字记录的内容仅供参会者内部使用不得公开发布深松国际未授权任何媒体转发本次会议相关内容未经允许和授权的转载转发均属侵权深松国际将保留追究其法律责任的权利 [41 -> 66] 森松国际不承担因转载转发而产生的任何损失和责任市场有风险投资需谨慎提醒广大投资者谨慎做出投资决策在主讲嘉宾发言结束后将留体问时间有请现场主持人诸位投资人诸位券商的分析师老师大家晚上好我是森松国际的邵叶 [66 -> 95] 非常感谢诸位在百忙之中抽出时间参加我们今天的业绩交流会也非常感谢大家对森松国际的关注特别是感谢我们的券商合作伙伴在各种场合对森松国际的推荐和支持从今年开始是公司上市的第三年我们也请诸位给予我们更多的关注和教育让森松国际始终有机会和大家保持沟通也欢迎诸位共同见证我们的发展与成长 [96 -> 124] 首先请允许我向诸位介绍今天与会的管理层成员首先是执行董事森松国际高级副总裁材料与能源板块负责人盛燕盛总森松国际副总高级副总裁陆伟峰陆总森松国际 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 Morimatsu International Holdings Company Limited 森松國際控股有限公司 （於 香 港 註 冊 成 立 的 有 限 公 司） （股 份 代 號：2155） 截至2023年6月30日止六個月的中期業績公告 森松國際控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然向本公司 股東公布本公司及其附屬公司（統稱「本集團」）截至2023年6月30日止六個月（「中 期期間」或「報告期」）的未經審核綜合中期業績。 | --- | --- | --- | |------------------------------------------|-------------------------------------------|-------------------------------------| | | | | | | | | | | 截至 6 月 30 ...

Financial Performance - The company's sales revenue reached approximately RMB 6.486 billion, representing a year-on-year growth of about 51.33%[7] - Gross profit amounted to approximately RMB 1.793 billion, with a year-on-year increase of approximately 51.52%[7] - Net profit was approximately RMB 666 million, reflecting a year-on-year growth of approximately 74.47%[7] - Revenue for 2022 reached RMB 6,486,277 thousand, a significant increase of 51.5% compared to RMB 4,286,222 thousand in 2021[28] - Net profit attributable to equity shareholders for 2022 was RMB 669,266 thousand, an increase of 75.2% compared to RMB 381,838 thousand in 2021[28] - The adjusted EBITDA for the reporting period was approximately RMB 890,682 thousand, an increase of about RMB 325,733 thousand or 57.7% compared to RMB 564,949 thousand for the year ended December 31, 2021[103] Orders and Market Demand - New signed orders totaled approximately RMB 9.356 billion, marking a year-on-year increase of approximately 40.60%[7] - The amount of orders on hand reached approximately RMB 8.622 billion, which is a year-on-year growth of approximately 50.73%[7] - New orders from the pharmaceutical and biopharmaceutical sectors accounted for over 50% of the total new orders, with new orders amounting to RMB 2,751,894 thousand[37] - The company has seen a notable increase in new orders in the electronic chemicals and daily chemicals sectors due to rising market demand for photovoltaic materials[40] - The company expects significant improvement in market supply and demand relationships in 2023, along with growth in overseas business and deeper global strategies[35] Strategic Focus and Development - The company has diversified its market distribution both domestically and internationally, enhancing its resilience against market fluctuations[8] - The strategic focus on capital expenditure projects aligns with the increasing demand from downstream industries[8] - The company aims to leverage existing domestic capacity and develop overseas capacity to achieve new heights in revenue and profit[13] - The company is focusing on balanced development in both Chinese and overseas markets by establishing technical and engineering centers abroad[78] - The company plans to avoid reliance on a single market or customer by operating across multiple sectors and focusing on high-return areas for resource allocation[80] Research and Development - The company is investing in R&D, with a budget increase of 25% for new technology development[20] - The group has initiated multiple projects in advanced biopharmaceuticals, microchannel reactors, ultra-high pressure industrial equipment, and lithium battery materials through collaborations with universities and joint ventures[13] - The company continues to support internal entrepreneurial teams, facilitating the development of new products and technologies in various fields, including new materials and biopharmaceuticals[76] - The company is focusing on R&D in non-traditional energy, semiconductor materials, and biodegradable materials, with several internal incubation platforms established to support new product development[68] Manufacturing and Capacity Expansion - New production capacity at the Nantong manufacturing base was completed and put into operation by June 30, 2022, with utilization rates approaching 100% and contributing to sales revenue[9] - The Changshu manufacturing base is scheduled to be operational by Q4 2023, which is expected to elevate the overall scale of the group[9] - The expansion project in Nantong, Jiangsu Province, has a total construction area of approximately 38,000 square meters and has already started contributing to sales revenue[66] - The new biopharmaceutical high-end equipment manufacturing base in Changshu, China, is under construction and will focus on high-end intelligent equipment for the biopharmaceutical and electronic chemical industries[66] Corporate Governance and Management - The management team has emphasized the importance of maintaining strong corporate governance practices moving forward[19] - The board of directors consists of 9 members, including 5 executive directors and 4 non-executive directors, ensuring a diverse governance structure[188] - The company has adopted the corporate governance code as the basis for its governance practices, ensuring compliance with applicable standards[186] - Independent non-executive directors play a crucial role in monitoring the company's corporate actions and operations, ensuring balance within the board[191] Sustainability and Social Responsibility - The group is committed to exploring renewable resources and biodegradable materials, focusing on non-traditional sustainable energy technologies as a key direction for future development[14] - The group actively participates in social welfare and charity activities, recognizing the importance of community support for corporate development[14] - Charitable donations made by the group during the reporting period totaled approximately RMB 1.091 million[175] Market Expansion and Acquisitions - Market expansion plans include entering two new international markets by Q3 2024[21] - The company is considering strategic acquisitions to enhance its product offerings and market presence[16] - The acquisition of Morimatsu Houston was completed for a total consideration of USD 1,295 thousand, aimed at expanding into the North American market[110] Employee Development and Talent Management - The group has established a comprehensive talent development system to ensure that professional engineers are engaged with clients globally, enhancing innovation and sustainable growth[11] - The company is investing in talent development, with a total workforce of 4,142, including over 521 R&D personnel[76] - The group has established a comprehensive compensation and benefits system, ensuring competitive market salaries to attract and retain high-quality employees[126]