上海家化(600315) - 2024 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2024 was CNY 3,320,713,286.01, a decrease of 8.51% compared to CNY 3,629,454,929.63 in the same period last year[16]. - The net profit attributable to shareholders for the first half of 2024 was CNY 238,002,470.71, down 20.93% from CNY 300,997,104.25 in the previous year[16]. - The basic earnings per share for the first half of 2024 was CNY 0.35, a decrease of 22.22% from CNY 0.45 in the same period last year[17]. - The weighted average return on equity decreased to 3.05%, down 0.97 percentage points from 4.02% in the previous year[17]. - The net profit after deducting non-recurring gains and losses for the first half of 2024 was CNY 235,183,533.26, a decrease of 10.36% from CNY 262,378,800.08 in the same period last year[16]. - The company achieved a revenue of 3.321 billion RMB, a year-on-year decrease of 8.51%[23]. - Gross margin was 61.13%, an increase of 0.88 percentage points year-on-year[23]. - The total profit for the first half of 2024 was CNY 252 million, a decrease of 27.2% from CNY 347 million in the same period of 2023[71]. - The total comprehensive income for the first half of 2024 was CNY 106,798,006.58, compared to CNY 159,816,267.96 in the same period of 2023, indicating a decrease of approximately 33%[74]. Cash Flow and Assets - The net cash flow from operating activities increased significantly to CNY 488,235,635.97, a rise of 643.94% compared to CNY 65,628,098.57 in the same period last year[16]. - The company's cash and cash equivalents at the end of the reporting period were approximately ¥1.10 billion, representing 9.32% of total assets, an increase of 17.23% from ¥939.62 million last year[27]. - The company's cash and cash equivalents reached CNY 1,101,469,566.58, up from CNY 939,615,645.63, indicating an increase of about 17.3%[63]. - The total current assets as of June 30, 2024, amounted to CNY 5,875,704,680.42, an increase from CNY 5,581,585,875.98 as of December 31, 2023, reflecting a growth of approximately 5.3%[63]. - The total assets at the end of the reporting period were CNY 11,816,023,751.23, a slight increase of 0.74% from CNY 11,729,795,966.33 at the end of the previous year[16]. - The total liabilities increased to CNY 3,402,654,643.01 from CNY 2,848,334,181.72, representing a rise of approximately 19.4%[64]. - The company's total assets as of June 30, 2024, were CNY 11,816,023,751.23, compared to CNY 11,729,795,966.33 at the end of 2023, showing a slight increase of about 0.7%[64]. Dividends and Shareholder Information - The company plans to distribute a cash dividend of CNY 0.30 per 10 shares to shareholders[4]. - The total number of ordinary shareholders as of the end of the reporting period is 47,300, with no preferred shareholders having restored voting rights[57]. - The largest shareholder, Shanghai Jahwa Group Co., Ltd., holds 344,927,001 shares, accounting for 51.01% of the total shares[57]. - The company distributed dividends amounting to 154,611,975.40 RMB during the period, reflecting a commitment to return value to shareholders[81]. Operational Efficiency and Strategy - The company has a comprehensive channel coverage and strong customer resources as part of its core competitiveness[22]. - The company has a robust R&D system and brand assets, contributing to its competitive advantage[22]. - The company has established a new corporate vision to become a leading daily cosmetics company domestically and internationally, focusing on high-quality products and professional branding[24]. - The company plans to focus on online channels, particularly interest e-commerce and emerging e-commerce, while also expanding retail channels offline[24]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[82]. Risk Management and Compliance - The company has faced risks including intensified industry competition and rising customer acquisition costs[37]. - The company has established a complete risk management system and continuously improves internal control processes[48]. - The company has implemented strict measures to manage foreign exchange hedging risks, including matching hedging amounts with expected foreign currency receivables[34]. - The company has not engaged in speculative derivative investments during the reporting period[34]. Corporate Governance - The company has a board of directors consisting of 7 members, including 1 female director, ensuring compliance with legal requirements[44]. - The company has appointed Lin Xiaohai as CEO and Chairman, and Xia Haitong as an independent director[40]. - The board of directors held 6 meetings during the reporting period, passing 32 resolutions related to financial reports and profit distribution plans[45]. Social Responsibility - The company donated over 60,000 RMB worth of winter care products to 236 disadvantaged women and children during the reporting period[51]. - The company provided 3300 products valued at 450,000 RMB to healthcare workers on International Nurses Day[51]. - The company participated in a charity auction during the "International Beauty Festival," raising funds for autism rehabilitation by purchasing artwork from autistic children[51]. Financial Reporting and Accounting Policies - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance and reflect the company's financial position, operating results, changes in equity, and cash flows accurately[96]. - The company recognizes revenue when control of goods or services is transferred to customers, based on the expected consideration amount[147]. - The company employs valuation techniques to determine the fair value of financial instruments in the absence of an active market, prioritizing observable inputs when available[113]. - The company recognizes expected liabilities for product quality guarantees and loss contracts when it is probable that economic benefits will flow out[143].