豪迈科技(002595) - 2024 Q2 - 季度财报

Financial Performance - Revenue for the first half of 2024 reached 4.14 billion yuan, a 16.97% increase compared to the same period last year[13] - Net profit attributable to shareholders of the listed company was 960.13 million yuan, up 23.93% year-on-year[13] - Basic earnings per share (EPS) increased by 24.26% to 1.2109 yuan per share[13] - Total assets grew by 12.22% to 11.12 billion yuan compared to the end of the previous year[13] - Net cash flow from operating activities decreased by 41.83% to 342.78 million yuan[13] - Revenue for the first half of 2024 reached 4.138 billion yuan, a year-on-year increase of 16.97%[26] - Net profit attributable to shareholders of the listed company was 960 million yuan, a year-on-year increase of 23.93%[26] - Operating income increased by 16.97% to 4,137,652,679.43 yuan, with the automotive tire equipment industry contributing 56.95% of total revenue, up 19.68% year-over-year[35] - Net cash flow from operating activities decreased by 41.83% to 342,784,190.17 yuan, primarily due to increased purchases of goods and employee compensation[34] - Net cash flow from investing activities surged by 523.47% to 431,721,897.11 yuan, driven by an increase in matured structured deposits[34] - Net cash flow from financing activities turned positive at 58,278,722.12 yuan, a 115.55% increase, due to timing differences in dividend distributions[34] - Cash and cash equivalents increased by 601.49% to 843,418,267.19 yuan, mainly due to higher matured structured deposits and reduced dividend payments[34] - Total operating revenue for the first half of 2024 reached 4,137,652,679.43 yuan, a 17% increase compared to 3,537,385,207.87 yuan in the same period of 2023[123] - Net profit attributable to the parent company's shareholders in the first half of 2024 was 960,131,396.66 yuan, up 24% from 774,725,896.74 yuan in the first half of 2023[124] - R&D expenses increased to 198,276,072.58 yuan in the first half of 2024, a 19% rise from 166,139,845.83 yuan in the same period of 2023[123] - Basic earnings per share (EPS) for the first half of 2024 stood at 1.2109, compared to 0.9745 in the first half of 2023[124] - Total liabilities increased to 1,370,093,536.66 yuan as of June 2024, up from 1,116,052,122.86 yuan in June 2023[122] - Total owner's equity grew to 9,423,938,714.48 yuan in June 2024, a 12% increase from 8,451,151,849.32 yuan in June 2023[122] - Operating profit for the first half of 2024 reached 1,102,940,668.89 yuan, a 26% increase from 877,668,143.66 yuan in the same period of 2023[123] - Total comprehensive income for the first half of 2024 was 914,120,248.19 yuan, up 19% from 770,175,797.94 yuan in the first half of 2023[124] - Contract liabilities increased to 141,509,881.48 yuan in June 2024, up 48% from 95,313,997.37 yuan in June 2023[122] - Accounts payable rose to 413,498,883.16 yuan in June 2024, a 57% increase from 263,491,343.67 yuan in June 2023[122] - Net profit for the first half of 2024 reached RMB 958.69 million, a 29.3% increase compared to RMB 741.19 million in the same period last year[126] - Operating cash flow for the first half of 2024 was RMB 342.78 million, a 41.8% decrease from RMB 589.28 million in the same period last year[127] - Investment cash flow for the first half of 2024 was RMB 431.72 million, a significant improvement from a negative RMB 101.95 million in the same period last year[127] - Total comprehensive income for the first half of 2024 was RMB 927.51 million, a 28.5% increase compared to RMB 721.97 million in the same period last year[126] - Sales revenue from goods and services for the first half of 2024 was RMB 3.18 billion, an 8.4% increase compared to RMB 2.93 billion in the same period last year[126] - Cash and cash equivalents at the end of the first half of 2024 reached RMB 1.92 billion, a 159.2% increase from RMB 740.36 million at the end of the same period last year[128] - Credit impairment losses for the first half of 2024 were RMB 20.57 million, a significant improvement from a loss of RMB 9.53 million in the same period last year[126] - Fair value change losses for the first half of 2024 were RMB 82,565.23, a 98.1% improvement from a loss of RMB 4.27 million in the same period last year[126] - Cash received from investment returns for the first half of 2024 was RMB 27.34 million, a 42.4% increase compared to RMB 19.20 million in the same period last year[127] - Cash paid for employee compensation for the first half of 2024 was RMB 1.08 billion, a 23.1% increase compared to RMB 876.86 million in the same period last year[127] - Operating cash flow from sales of goods and services increased to 2.87 billion yuan in H1 2024, up from 2.68 billion yuan in H1 2023[129] - Net cash flow from operating activities decreased to 260.61 million yuan in H1 2024, down from 520.19 million yuan in H1 2023[129] - Net cash flow from investing activities improved significantly to 455.43 million yuan in H1 2024, compared to a negative 78.33 million yuan in H1 2023[129] - Total cash and cash equivalents at the end of H1 2024 reached 1.70 billion yuan, a substantial increase from 590.88 million yuan at the end of H1 2023[129] - The company's total owner's equity increased to 9.58 billion yuan at the end of H1 2024, up from 8.62 billion yuan at the end of H1 2023[130] - Comprehensive income for H1 2024 contributed 960.13 million yuan to owner's equity[130] - Capital reserves increased by 24.86 million yuan in H1 2024 due to equity incentives[130] - The company allocated 1.44 million yuan to special reserves in H1 2024[131] - Total assets under the owner's equity section grew by 961.28 million yuan in H1 2024[130] - Total owner's equity increased to 7,774,087,097.61 yuan, up by 430,643,478.78 yuan compared to the beginning of the period[133] - Comprehensive income for the period amounted to 769,824,681.74 yuan[132] - Capital reserve increased by 28,137,312.48 yuan due to share-based payments[132] - Inventory shares decreased by 70,017,102.00 yuan[132] - Profit distribution to owners (or shareholders) amounted to 299,117,223.00 yuan[133] - Special reserve increased by 1,464,693.36 yuan, with 4,909,256.94 yuan extracted and 3,444,563.58 yuan used during the period[133] - Parent company's owner's equity increased to 9,423,938,714.48 yuan, up by 972,786,865.16 yuan compared to the beginning of the period[135] - Comprehensive income for the parent company amounted to 927,511,436.66 yuan[134] - Capital reserve increased by 23,897,657.10 yuan due to share-based payments[134] - Inventory shares decreased by 20,859,390.00 yuan[134] - Total equity as of the end of the period is RMB 7,638,701,964.97, with a net increase of RMB 381,945,777.34 during the period[137] - Comprehensive income for the period is RMB 721,969,113.57, primarily driven by net profit contributions[137] - Capital reserve increased by RMB 28,137,312.48 due to equity incentives and other capital injections[137] - The company distributed RMB 299,117,223.00 to shareholders during the period[137] - Special reserve increased by RMB 973,676.29, with RMB 4,178,547.54 extracted and RMB 3,204,871.25 used during the period[137] Business Segments - Tire mold business revenue was 2.216 billion yuan, a year-on-year increase of 19.52%, with a gross margin of 41.59%, down 1.21 percentage points year-on-year[27] - Large mechanical parts business revenue was 1.465 billion yuan, a year-on-year increase of 2.65%, with a gross margin of 24.48%, up 4.36 percentage points year-on-year[29] - CNC machine tool business revenue was 207 million yuan, a year-on-year increase of 141.31%[30] - The company's tire mold business saw strong domestic sales growth and steady international sales growth, though overall gross margin slightly declined[27] - The company's large mechanical parts business benefited from improved product structure, lower raw material costs, and efficiency gains, leading to higher gross margins[29] - Domestic sales accounted for 55.87% of total revenue, growing by 20.13% year-over-year, while international sales grew by 13.20%[35] - The gross margin for the automotive tire equipment industry decreased by 1.38% to 40.84%, despite a 19.68% increase in revenue[37] - The gross margin for large mechanical parts improved by 4.36% to 24.48%, with revenue increasing by 2.65%[37] Innovation and R&D - The company has obtained over 290 invention patents and continues to innovate in energy-efficient molds and electric heating vulcanizers[31] - The company launched 4 new CNC machine tool products at the CCMT 2024 exhibition, including horizontal five-axis machining centers and composite machining centers[30] - R&D expenses increased to 198,276,072.58 yuan in the first half of 2024, a 19% rise from 166,139,845.83 yuan in the same period of 2023[123] - The company's CNC machine tool R&D team was awarded the "National Worker Pioneer" and represented the company at the Great Hall of the People to discuss advancing high-end CNC machine tool core technologies[81] Global Market Trends - Global gas turbine market size in 2023 was 25 billion USD, with China accounting for 29% of the total installed capacity at 12.6GW[18] - Global gas turbine market size is projected to reach 28.3 billion USD by 2026[18] - China contributed nearly 60% of global new wind power installations in 2023, and is expected to maintain this share in 2024[19] - Domestic wind power cumulative bidding in 2024 H1 reached 84.82GW, a 97.21% increase compared to 2023 H1[19] - Metal cutting machine tool production in 2024 H1 was 333,000 units, a 5.7% year-on-year increase[20] - Global machine tool market size in 2023 was approximately 52.72 billion USD, projected to reach 71.19 billion USD by 2030 with a CAGR of 4.9%[20] Environmental and Social Responsibility - The company adheres to environmental protection policies and standards, including the Environmental Protection Law and the Environmental Impact Assessment Law[61] - The company has obtained environmental and energy management system certifications, promoting green manufacturing and energy conservation[61] - The company follows strict environmental management practices throughout the project lifecycle, including design, construction, and operation phases[63] - The company holds two environmental permits for its industrial parks, valid until 2029[64] - The company complies with various environmental standards, including air, water, solid waste, and noise pollution regulations[62][63] - The company conducts regular environmental risk assessments and emergency drills to ensure compliance with environmental regulations[63] - The company actively discloses environmental information and pays environmental taxes as required by regulatory authorities[63] - Volatile organic compounds (VOCs) emissions were 18 tons, with an organized emission concentration of 10.65 mg/m³, and the annual emission was 121.91 tons, which did not exceed the standard[66] - Particulate matter emissions were 98 tons, with an organized emission concentration of 4.45 mg/m³, and the annual emission was 113.45 tons, which did not exceed the standard[66] - Nitrogen oxides emissions were 26 tons, with an organized emission concentration of 31.4 mg/m³, and the annual emission was 34.75 tons, which did not exceed the standard[66] - Sulfur dioxide emissions were 26 tons, with an organized emission concentration of 5 mg/m³, and the annual emission was 7.35 tons, which did not exceed the standard[66] - Chemical oxygen demand (COD) emissions were 13 tons, with an indirect emission concentration of 158 mg/L, and the annual emission was 107.37 tons, which did not exceed the standard[66] - Ammonia nitrogen emissions were 13 tons, with an indirect emission concentration of 3.5 mg/L, and the annual emission was 9.67 tons, which did not exceed the standard[66] - The company has 59 sets of bag filters, 123 sets of cartridge filters, and 67 sets of low-nitrogen combustion equipment for pollution control[69] - The company has established a comprehensive environmental management system and strictly follows the ISO 14001 environmental management system standards[67] - The company has developed an emergency response plan for environmental incidents, which was reviewed and filed in February 2022[70] - The company regularly invests in the construction and upgrading of environmental protection facilities to ensure compliance with emission standards[71] - The company has implemented energy-saving measures, including the use of new frequency conversion air compressors and pure electric forklifts, to reduce energy consumption[73] - The company has achieved ISO 14001 and ISO 50001 certifications for its environmental and energy management systems[79] - The company has conducted internal carbon audits for five consecutive years and is exploring carbon footprint calculation methods[80] - The company has a 100% resolution rate for customer feedback and ensures 100% confidentiality agreement signing rate for new key positions[78] - The company has been awarded the "Best Practice in Investor Relations Management (2023)" by the China Listed Companies Association[75] - The company has been recognized as a national green factory and a national clean production demonstration enterprise[79] - The company has established a comprehensive training system covering cultural concepts, professional skills, social responsibility, environmental safety, and intellectual property[76] - The company has maintained an "A" grade in the annual information disclosure assessment of Shenzhen Main Board listed companies for five consecutive years[75] - The company has implemented green manufacturing practices, including energy-saving equipment upgrades and water resource recycling[72] Corporate Governance and Shareholder Relations - The company plans to distribute a cash dividend of 0.5 yuan per 10 shares, based on 798.56 million shares after deducting repurchased shares[3] - The company announced a cash dividend of 3.75 yuan per 10 shares, totaling 299,459,550.00 yuan, with no stock dividends or capital reserve transfers[55] - The company has two employee stock ownership plans, with a total of 4,820,000 shares held by 2,600 employees in 2022 and 909,800 shares held by 1,900 employees in 2023[57] - The company's employee stock ownership plans are funded through employee salaries, self-raised funds, and other legally permitted sources[57] - The company recorded a cumulative amount of 93,483,362.73 yuan in capital reserves related to equity-settled share-based payments[58] - Equity-settled share-based payment expenses totaled 1,124,185.48 RMB[59] - The 2022 employee stock ownership plan has been completed and terminated as of the report date[59] - The 2023 employee stock ownership plan is still in the lock-up period with a duration of 36 months and a lock-up period of 24 months[59] - The company's directors, supervisors, and senior management have committed to transferring no more than 25% of their shares annually during their tenure and no more than 50% within 12 months after leaving[83] - The controlling shareholder, Zhang Gongyun, has pledged to avoid competing with the company and to transfer any benefits from such competition to the company[83] - The company reported no non-operational fund occupation by controlling shareholders or related parties during the reporting period[83] - The company had no illegal external guarantees during the reporting period[84] - The company's semi-annual financial report was not audited[85] - The company was involved in two lawsuits during the reporting period, both of which were in the execution stage and resulted in favorable judgments for the company[86] - The company and its controlling shareholders reported no penalties or rectifications during the reporting period[87] - The company's total related-party transactions for the reporting period amounted to RMB 79.35 million, with the largest transaction being the purchase of welding parts and processing fees from Shandong Haomai Machinery Manufacturing Co., Ltd., totaling RMB 29.84 million, accounting for 76.73% of similar transactions[89][90] - The company's sales to related parties reached RMB 34.61 million, primarily from the sale of castings to Shandong Haomai Machinery Manufacturing Co., Ltd., accounting for 40.59% of similar transactions[90] - The company's total approved transaction limit for related-party transactions is RMB 179.8 million, with no transactions exceeding the