协和电子(605258) - 2024 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2024 reached ¥401,850,903.41, representing a 21.81% increase compared to ¥329,901,715.45 in the same period last year[12]. - The net profit attributable to shareholders for the first half of 2024 was ¥31,582,971.67, a significant increase of 58.94% from ¥19,870,916.00 in the previous year[12]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥29,476,626.53, which is a 97.94% increase from ¥14,891,734.11 in the same period last year[12]. - The net cash flow from operating activities increased by 209.67%, amounting to ¥100,100,735.89 compared to ¥32,324,917.11 in the previous year[12]. - Basic earnings per share for the first half of 2024 were ¥0.3589, up 58.95% from ¥0.2258 in the same period last year[15]. - The diluted earnings per share also stood at ¥0.3589, reflecting the same growth rate of 58.95% compared to the previous year[15]. - The weighted average return on net assets for the first half of 2024 was 2.70%, an increase from 1.71% in the same period last year[15]. - The total comprehensive income for the first half of 2024 was ¥31,610,827.37, compared to ¥19,409,851.97 in the previous year, reflecting overall positive performance[99]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,482,748,064.66, a decrease of 0.83% from ¥1,495,142,124.55 at the end of the previous year[14]. - The net assets attributable to shareholders at the end of the reporting period were ¥1,171,035,791.52, showing a slight increase of 0.07% from ¥1,170,252,819.85 at the end of the previous year[14]. - Total liabilities decreased from ¥322,494,187.00 to ¥309,289,299.74, a decline of about 4.1%[93]. - Owner's equity increased slightly from ¥1,172,647,937.55 to ¥1,173,458,764.92, an increase of approximately 0.1%[93]. - The company's cash and cash equivalents as of June 30, 2024, are RMB 117,021,656.30, down from RMB 299,958,218.08 as of December 31, 2023[91]. - The total current assets amount to RMB 876,048,984.83, slightly down from RMB 882,843,115.97 in the previous period[91]. Market and Industry Insights - In the automotive PCB market, China's vehicle production and sales reached 13.89 million and 14.04 million units respectively in the first half of 2024, representing year-on-year growth of 4.9% and 6.1%[20]. - The market share of new energy vehicles reached 35.2% in the first half of 2024, with production and sales of 4.93 million units, reflecting a year-on-year increase of 30.1%[20]. - The demand for high-frequency PCBs is expected to grow significantly with the ongoing construction of 5G base stations, which reached 3.917 million in China by June 2024[20]. - The company is actively expanding its market presence in automotive electronics, high-frequency communications, and new energy applications[27]. Research and Development - The company focuses on R&D and innovation to meet the increasing precision requirements in high-end automotive electronics and communication products[24]. - The company's research and development expenses rose by 7.16% to 16.60 million yuan, reflecting increased investment in R&D[28]. - Research and development expenses increased to ¥16,600,513.11, compared to ¥15,490,765.27 in the previous year, indicating a focus on innovation[98]. Environmental Compliance - The company is classified as a key pollutant discharge unit in Changzhou, ensuring compliance with national environmental laws and regulations[45]. - The wastewater treatment facility has a processing capacity of 3,500 cubic meters per day, effectively managing various pollutants to ensure compliance[48]. - The company has implemented a comprehensive environmental monitoring plan, including regular assessments by qualified third-party organizations[53]. - The company has successfully maintained compliance with air pollutant discharge standards, including sulfuric mist and VOCs[49]. Shareholder Commitments - The actual controller and major shareholders have committed to not transferring or entrusting the management of their shares for 36 months post-IPO[57]. - After the lock-up period, shareholders can only transfer up to 25% of their shares annually while serving as directors or senior management[58]. - The company promises to repurchase all newly issued shares if there are false records or misleading statements in the prospectus that significantly affect the judgment of compliance with legal issuance conditions[64]. - The controlling shareholders commit to holding company shares for 36 months without reduction after the company's stock listing[62]. Financial Management - The company has implemented an ERP management system to enhance the accuracy and timeliness of operational data[26]. - The company plans to continue optimizing business processes and enhancing quality management standards in the second half of 2024[27]. - The company has not disclosed any significant changes in the use of raised funds or any other major matters during the reporting period[83]. Risk Management - The company reported no significant risks that could materially affect its operations during the reporting period[3]. - The PCB industry faces significant competition risks due to low market concentration and increasing environmental regulations[37]. - There is a risk of increased accounts receivable, which could affect operational performance if major clients face financial difficulties[38]. - The company is committed to enhancing product quality control to mitigate risks associated with product defects[39].