电工合金(300697) - 2024 Q2 - 季度财报

Financial Performance - The company's operating revenue for the reporting period was ¥1,230,175,997.46, representing a 3.94% increase compared to ¥1,183,541,978.80 in the same period last year[11]. - Net profit attributable to shareholders was ¥66,767,031.06, a decrease of 12.24% from ¥76,080,182.49 in the previous year[11]. - The basic earnings per share decreased by 12.23% to ¥0.201 from ¥0.229 in the same period last year[11]. - The weighted average return on net assets decreased to 6.21% from 7.66% in the previous year[11]. - The company achieved operating revenue of CNY 123,017.60 million in the first half of 2024, an increase of 3.94% year-on-year[22]. - Net profit attributable to shareholders was CNY 6,676.70 million, a decrease of 12.24% compared to the same period last year[22]. - The company's total revenue from sales of goods and services was ¥447,784,109.31, a decrease of 23.4% from ¥584,778,075.49 in the first half of 2023[86]. - The net profit for the first half of 2024 is CNY 72,462,753.65, a decrease of 21.6% compared to CNY 92,407,421.77 in the same period of 2023[82]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 44.06%, amounting to ¥74,474,717.27 compared to ¥133,138,730.83 in the same period last year[11]. - The company's cash and cash equivalents increased by ¥35,002,604.32, a decrease of 27.30% compared to the previous year[25]. - Cash flow from operating activities for the first half of 2024 is CNY 74,474,717.27, significantly lower than CNY 133,138,730.83 in the same period of 2023, representing a decline of approximately 44%[84]. - The cash and cash equivalents at the end of the first half of 2024 amount to CNY 130,080,844.10, down from CNY 144,380,126.93 at the end of the first half of 2023[85]. - The company's cash inflow from investment activities increased significantly to ¥10,711,068.40, compared to ¥1,122,467.57 in the first half of 2023[86]. Assets and Liabilities - Total assets increased by 11.09% to ¥1,733,492,660.16 from ¥1,560,492,877.50 at the end of the previous year[11]. - Total liabilities increased to ¥658,005,451.25 from ¥502,281,511.33, representing a growth of approximately 30.9%[75]. - Current liabilities rose to ¥640,888,362.88, compared to ¥488,750,466.04, marking an increase of about 31.1%[75]. - The company's total equity attributable to shareholders rose to ¥1,073,346,769.02 from ¥1,056,052,077.39, an increase of about 1.6%[75]. Business Operations and Market Position - The company maintains a stable business in copper and copper alloy products, including electrified railway contact network products and new energy vehicle high-voltage connectors[15]. - The market for high-voltage connectors in new energy vehicles is expected to grow rapidly as the penetration rate of electric vehicles increases[16]. - The company has established long-term stable partnerships with major railway construction units and is a certified supplier for the China Railway Electrification Bureau Group[18]. - The company’s products have been certified by international brands such as Schneider, ABB, Siemens, and GE, ensuring a stable demand from high-profile clients[18]. - The company is positioned to benefit from the ongoing transformation towards a new energy system, which is crucial for sustainable energy supply[23]. Risk Management - The report emphasizes the importance of risk awareness for investors regarding future development plans[1]. - The financial report includes a section on risks and countermeasures faced by the company[1]. - The company faces market competition risks in its main business of copper and copper alloy products, particularly in the electrified railway contact network segment[37]. - The company emphasized the importance of hedging to mitigate raw material price fluctuations, which directly impact production costs[32]. Corporate Governance and Compliance - The company’s management team guarantees the accuracy and completeness of the financial report[1]. - The company’s legal representatives affirm the authenticity of the financial statements presented in the report[1]. - The company emphasizes the protection of shareholder and creditor rights, ensuring transparent communication and adherence to legal regulations[45]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[43]. Research and Development - The company has established a comprehensive quality management system, with product quality exceeding national standards by over 5% in key performance indicators[21]. - The company has developed key technologies for high-voltage connectors in the new energy vehicle sector, receiving customer recognition for these innovations[20]. - Research and development expenses for the first half of 2024 were ¥18,059,304.35, down from ¥19,806,954.58 in the first half of 2023, a decrease of 8.8%[79]. Shareholder Information - The company held two temporary shareholder meetings and one annual shareholder meeting during the reporting period, with investor participation rates of 68.88% and 70.18% respectively[41]. - The total number of shares outstanding is 332,800,000, with 76.56% being unrestricted shares[64]. - The total number of ordinary shareholders at the end of the reporting period was 20,947, with no shareholders holding more than 5% of shares experiencing changes[65]. Environmental and Social Responsibility - The company has established an environmental management system in compliance with national standards and actively promotes energy-saving measures, including the installation of a 2.2 MW solar power station[43]. - The company actively engages in corporate social responsibility by adhering to tax regulations and promoting sustainable environmental practices[45]. Accounting Policies and Financial Reporting - The financial report has been approved by the board of directors on August 23, 2024[100]. - The company follows the accounting policies and estimates in accordance with the relevant accounting standards, including inventory valuation and bad debt provisions[104]. - The company’s financial statements are prepared based on the assumption of going concern, with no significant doubts about its ability to continue operations[103].