HAXC (300928)

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华安鑫创(300928) - 2021 Q2 - 季度财报
2021-08-19 16:00
Financial Performance - The company reported a revenue of RMB 300 million for the first half of 2021, representing a year-on-year increase of 25% compared to the same period in 2020[14]. - The net profit attributable to shareholders for the first half of 2021 was RMB 50 million, up 15% from the previous year[14]. - The company's operating revenue for the reporting period was CNY 379,775,721.79, a decrease of 3.92% compared to the same period last year[20]. - The net profit attributable to shareholders was CNY 24,053,740.43, down 19.90% year-on-year, primarily due to reduced acceptance income from high-margin software system development[20]. - The company's revenue for the reporting period was approximately ¥379.78 million, a decrease of 3.92% compared to the previous year[56]. - The company reported a significant cash flow from operating activities of -¥63.72 million, a decrease of 303.31% compared to the previous year, primarily due to increased procurement payments[56]. - The company reported a total owner's equity of 1,244,819,882.10 RMB at the end of the first half of 2021, an increase from 533,305,755.09 RMB at the end of the first half of 2020[168]. Market Strategy and Expansion - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share by the end of 2022[14]. - The company is exploring potential mergers and acquisitions to enhance its technological capabilities and market reach[14]. - The company aims to expand its market share by focusing on the rapidly growing new energy vehicle sector and exploring opportunities in related fields such as vehicle networking and consumer electronics[85]. Research and Development - The company has allocated RMB 20 million for research and development in new technologies for the upcoming fiscal year[14]. - The company holds 4 invention patents, 21 utility model patents, 3 design patents, and 94 software copyrights, showcasing its strong R&D capabilities[50]. - The company has established a comprehensive R&D process to minimize risks associated with new product development and to keep pace with industry technology trends[86]. - The company's R&D investment increased by 29.67% to approximately ¥10.35 million, reflecting a focus on enhancing software and core component development[56]. Operational Challenges - The company faces risks related to supply chain disruptions and has outlined strategies to mitigate these risks in its management discussion[4]. - The automotive industry is experiencing a stable recovery, but challenges such as chip shortages and rising raw material prices continue to exert pressure on production costs[42]. Shareholder Information - No cash dividends will be distributed to shareholders for the current fiscal year, as the company focuses on reinvestment[5]. - The company does not plan to distribute cash dividends or issue bonus shares for the half-year period[95]. - The company distributed dividends totaling 24,000,000.00 RMB during the first half of 2021, compared to 30,151,838.03 RMB in the same period of 2020[167]. Financial Position - The total assets at the end of the reporting period were CNY 1,337,830,677.30, a decrease of 9.36% from the end of the previous year[20]. - The company's cash and cash equivalents decreased by 9.02% to approximately ¥590.13 million, primarily due to payments for supplier debts and issuance costs[62]. - The company's total liabilities were CNY 94,925,146.01, down from CNY 231,140,062.22, indicating a decrease of approximately 58.91%[148]. Corporate Governance - The financial report was approved by the board of directors on August 19, 2021, and includes 12 subsidiaries, with ownership stakes ranging from 51% to 100%[193]. - The company has assessed its ability to continue as a going concern for the next 12 months and found no significant doubts regarding its sustainability[195]. - The semi-annual financial report was not audited[144]. Industry Trends - The penetration rate of new energy vehicles increased from 5.4% at the beginning of the year to 9.4% in the first half of 2021, with over 1 million pure electric vehicles sold[45]. - The market for automotive cockpit electronics is expected to continue growing, driven by increasing consumer demand for high-quality and intelligent products[46]. - The automotive cockpit electronics market is characterized by rapid development, with increasing functionality and technology upgrades driving demand[46].
华安鑫创(300928) - 2021 Q1 - 季度财报
2021-04-22 16:00
Financial Performance - The company's revenue for Q1 2021 was CNY 129,575,567.96, representing a 20.61% increase compared to CNY 107,433,562.93 in the same period last year[7] - Net profit attributable to shareholders reached CNY 4,373,714.81, a significant increase of 1,182.56% from CNY 341,015.20 in the previous year[7] - Basic earnings per share rose to CNY 0.05, marking a 400.00% increase from CNY 0.01 in the same quarter last year[7] - In Q1 2021, the company achieved operating revenue of CNY 129.58 million, a year-on-year increase of 20.61%[19] - The net profit attributable to shareholders in Q1 2021 was CNY 4.37 million, representing a significant year-on-year growth of 1,182.56%[19] - The total profit for Q1 2021 was CNY 4,970,637.96, compared to CNY 674,461.67 in the same period last year, showing a strong growth trajectory[49] - The comprehensive income attributable to the parent company's owners totaled CNY 4,842,559.41, up from CNY 1,876,027.01 in the prior period[50] Cash Flow and Assets - The net cash flow from operating activities was CNY -105,695,026.35, worsening by 106.48% compared to CNY -51,188,957.76 in the previous year[7] - The company's cash and cash equivalents decreased to CNY 618,319,008.76 from CNY 784,231,250.75, reflecting a reduction of about 21.14%[39] - The cash inflow from operating activities was CNY 192,327,092.34, significantly higher than CNY 126,892,928.25 in the previous period[56] - The cash outflow from investing activities was 90,843,365.44 CNY, significantly higher than 3,424,469.61 CNY in the previous period, marking an increase of approximately 2,550%[57] - Total cash and cash equivalents at the end of the period were 618,319,008.76 CNY, down from 784,231,250.75 CNY at the beginning of the period, reflecting a decrease of about 21.1%[58] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,371,760,851.95, a decrease of 7.06% from CNY 1,475,959,944.32 at the end of the previous year[7] - The total equity attributable to shareholders of the parent company was CNY 1,242,064,230.73, slightly up from CNY 1,237,221,671.32[42] - The total non-current liabilities were reported at CNY 833,333.32, down from CNY 874,999.99[45] - Accounts receivable decreased to CNY 505,813,441.44 from CNY 587,424,058.72, indicating a decline of approximately 13.93%[39] Research and Development - Research and development expenses increased to CNY 6,383,645.33 from CNY 5,505,367.49 year-over-year[48] - Research and development expenses for Q1 2021 amounted to CNY 4,198,785.77, compared to CNY 2,727,333.75 in the previous year, indicating increased investment in innovation[52] Customer and Supplier Concentration - The company faces risks from high customer concentration, as a significant portion of revenue is dependent on a few key clients[24] - The company is exposed to risks from high supplier concentration, which could impact production if major suppliers fail to meet demands[25] - The top five customers contributed CNY 76.60 million in sales, representing 59.12% of total operating revenue[20] - The procurement amount from the top five suppliers represented 89.11% of the total procurement, with the largest supplier accounting for 61.16%[25] Government Support and Investments - The company received government subsidies amounting to CNY 3,040,022.66 during the reporting period[8] - The total amount raised from the initial public offering was RMB 67,603.87 million, with RMB 4,290.37 million invested in the current quarter[30] - The company has not changed the use of raised funds, with 0% of the total amount being redirected[30] Future Outlook and Risks - The company faces risks related to dependence on the domestic automotive industry, which may impact future performance if market conditions decline[21] - Continuous innovation and R&D capabilities are critical for the company to meet evolving customer demands and maintain market competitiveness[22] - The company plans to focus on market expansion and new product development in the upcoming quarters[48]
华安鑫创(300928) - 2020 Q4 - 年度财报
2021-04-14 16:00
Financial Performance - The company's operating revenue for 2020 was ¥900,870,236.02, representing a 5.24% increase compared to ¥856,013,371.94 in 2019[18]. - The net profit attributable to shareholders for 2020 was ¥70,398,942.90, a decrease of 14.09% from ¥81,941,938.77 in 2019[18]. - The net cash flow from operating activities was ¥9,985,959.49, down 80.61% from ¥51,491,329.03 in 2019[18]. - The total assets at the end of 2020 reached ¥1,475,959,944.32, a significant increase of 128.52% from ¥645,864,245.91 at the end of 2019[18]. - The net assets attributable to shareholders increased by 134.57% to ¥1,237,221,671.32 at the end of 2020 from ¥527,436,473.02 at the end of 2019[18]. - The basic earnings per share for 2020 was ¥1.17, down 14.60% from ¥1.37 in 2019[18]. - The weighted average return on equity for 2020 was 13.14%, a decrease of 3.49% from 16.63% in 2019[18]. - The company reported a total of ¥2,759,747.38 in non-recurring gains and losses for 2020, compared to a loss of ¥1,269,209.36 in 2019[23]. - The fourth quarter operating revenue was ¥314,382,415.89, contributing significantly to the annual total[20]. - The company experienced a net profit of ¥22,276,606.55 in the fourth quarter, indicating a recovery trend towards the end of the year[20]. Market and Industry Trends - The company emphasizes the importance of intelligent cockpit electronics, which integrate various functionalities and are crucial for the automotive industry's transformation towards electrification and connectivity[10]. - The automotive cockpit electronics market is expected to continue growing, driven by advancements in automotive electronic technology and increasing consumer demand for upgraded features[43]. - The overall automotive industry in China is showing a positive trend, particularly in the new energy vehicle segment, which is expected to support the company's growth[108]. - The automotive display screen market is expanding, with screen sizes increasing from 3.5 inches to dual 12.3-inch displays in mainstream models[107]. - The penetration rate of LCD dashboards in domestic vehicles is steadily increasing, driving demand for new products and technologies[107]. - The company aims to capitalize on opportunities in the new energy vehicle market, collaborating with manufacturers like BYD and Xiaopeng Motors[112]. Research and Development - The company has a focus on R&D for new products and technologies, particularly in smart driving assistance and data integration[10]. - The company’s R&D efforts are market-driven, focusing on the development of integrated software and hardware products based on customer needs[34]. - R&D investment reached CNY 16.55 million, a year-on-year increase of 69.62%, with 2 new invention patents granted[62]. - The company plans to enhance its R&D efforts in cockpit electronic systems, focusing on next-generation integrated solutions for multi-screen setups[111]. - The company has developed 4 invention patents, 19 utility model patents, 3 design patents, and 90 software copyrights, establishing a strong technical research and development capability[49]. Strategic Partnerships and Market Expansion - The company is focused on market expansion and strategic partnerships to drive growth in the automotive electronics sector[10]. - The company has established long-term stable relationships with major clients, including leading system integrators and automotive manufacturers, ensuring a steady demand for its products[51]. - The company established strong partnerships with major market players such as Delphy, HANGSHENG Electronics, Huayang Group, and Yikatong, indirectly serving mainstream domestic car manufacturers[113]. - In 2021, the company plans to enhance its assembly screen business by collaborating with third-party module manufacturers and entering the high-end customized assembly screen market, focusing on products like 12.3-inch and larger screens[114]. Risks and Challenges - The company acknowledges potential risks in future projections and plans, urging investors to remain aware of these risks[4]. - The company faces risks related to its reliance on the domestic automotive industry, which saw a 6.5% decline in passenger vehicle production and sales in 2020, highlighting potential vulnerabilities in its business performance[118]. - The company emphasizes the need for continuous R&D and innovation to meet the evolving demands of downstream automakers, as failure to keep pace with technological advancements could weaken its market competitiveness[119]. Shareholder and Dividend Policies - The company reported a profit distribution plan of 3 RMB per 10 shares (including tax) for a total share capital of 80,000,000 shares[4]. - The company will maintain a cash dividend policy, distributing 24 million yuan in cash dividends, which represents 100% of the total profit distribution amount[127]. - The cash dividends for 2020, 2019, and 2018 represented 34.09%, 36.61%, and 39.02% of the net profit attributable to ordinary shareholders, respectively[130]. - The company has committed to a cash dividend distribution of no less than 30% of the distributable profits, ensuring that cash dividends will account for at least 20% of total distributions during profit allocation periods[141]. Corporate Governance and Compliance - The report highlights the company's commitment to maintaining accurate and complete financial reporting, ensuring transparency for investors[3]. - The report indicates that all board members attended the meeting to review the annual report, ensuring governance and accountability[4]. - The company has outlined strict compliance measures to avoid any related party transactions that could harm shareholder interests[142]. - The company will ensure that any related party transactions are conducted on an equal and voluntary basis, adhering to legal and regulatory requirements[142]. Financial Management and Fund Utilization - The company will establish a special account for the raised funds and implement a tripartite supervision agreement to ensure the funds are used appropriately[151]. - The company intends to strengthen internal controls and enhance fund management to prevent misappropriation and improve fund utilization efficiency[153]. - The company has committed to timely and comprehensive disclosure of any failure to fulfill commitments made regarding return measures[153].