CEI(688128)2024-08-26 10:04Company Information - The company's registered address has been changed multiple times, with the latest change in 2019 to No. 1 Building, 204 Xin'gang West Road, Haizhu District, Guangzhou[10] - The company's legal representative is Qin Hanjun[10] - The company's website is http://www.cei1958.com and the email address is ir@cei1958.com[10] - The company's Board Secretary is Wang Liu, and the Securities Affairs Representative is Sun Yi, both located at No. 1 Building, 204 Xin'gang West Road, Haizhu District, Guangzhou[11] - The company's contact phone number is 020-89050837 and the fax number is 020-84461729[11] Financial Performance - Revenue for the first half of 2024 reached RMB 2,058,627,915.80, an increase of 11.64% compared to the same period last year[14] - Net profit attributable to shareholders of the listed company was RMB 196,709,597.18, up 6.32% year-on-year[14] - Basic earnings per share (EPS) for the reporting period was RMB 0.49, an increase of 6.52% compared to the same period last year[15] - R&D investment accounted for 8.12% of revenue, an increase of 0.11 percentage points year-on-year[15] - The company's total assets decreased by 5.59% to RMB 6,910,395,357.59 compared to the end of the previous year[14] - The net cash flow from operating activities was negative RMB 183,262,281.44, primarily due to a decrease in sales collections[15] - Revenue increased by 11.64% to RMB 2,058,627,915.80 compared to the same period last year[69] - Operating costs rose by 7.99% to RMB 1,371,532,436.14 year-over-year[69] - R&D expenses grew by 13.11% to RMB 167,172,830.29[70] - Net cash flow from operating activities decreased to RMB -183,262,281.44, primarily due to reduced sales collections[70] - Monetary funds decreased by 48.19% to RMB 426,156,716.70, mainly due to lower sales collections[70] - Accounts receivable increased by 13.41% to RMB 1,305,376,066.08[70] - Inventory grew by 1.56% to RMB 2,553,799,597.09[70] - Short-term borrowings increased by 45.00% to RMB 16,674,448.70 due to new borrowings by the holding company[71] - Overseas assets amounted to RMB 10,849,855.39, accounting for 0.16% of total assets[71] - Restricted assets totaled RMB 32,955,480.74, including monetary funds, fixed assets, and intangible assets[72] - Total operating income for the first half of 2024 reached RMB 2,058,627,915.80, an increase from RMB 1,843,986,386.55 in the same period of 2023[138] - Total operating costs for the first half of 2024 were RMB 1,839,087,422.76, up from RMB 1,674,076,529.79 in the first half of 2023[138] - Net profit for the first half of 2024 was RMB 197,205,972.04, compared to RMB 181,498,366.07 in the same period of 2023[139] - R&D expenses increased to RMB 167,172,830.29 in the first half of 2024, up from RMB 147,792,882.25 in the first half of 2023[139] - Total assets as of the end of the first half of 2024 were RMB 3,442,821,289.49, slightly down from RMB 3,445,280,871.50 at the end of the first half of 2023[136] - Total liabilities for the first half of 2024 were RMB 1,101,748,796.28, up from RMB 1,091,991,107.20 in the same period of 2023[137] - Long-term equity investments increased to RMB 1,657,134,954.95 in the first half of 2024, compared to RMB 1,356,558,702.35 in the first half of 2023[136] - Contract liabilities rose to RMB 214,766,586.15 in the first half of 2024, up from RMB 181,847,403.73 in the first half of 2023[136] - Sales expenses increased to RMB 143,120,514.45 in the first half of 2024, compared to RMB 121,608,048.02 in the same period of 2023[139] - Other comprehensive income after tax was RMB 6,844,033.84 in the first half of 2024, down from RMB 17,414,571.76 in the first half of 2023[139] - Net profit attributable to the parent company's owners increased to 203,553,631.02 yuan in the first half of 2024, compared to 202,427,942.20 yuan in the same period last year[140] - Basic earnings per share (EPS) rose to 0.49 yuan per share in H1 2024, up from 0.46 yuan per share in H1 2023[140] - Operating income grew significantly to 333,335,007.27 yuan in H1 2024, a 50.5% increase from 221,474,414.67 yuan in H1 2023[141] - R&D expenses decreased to 46,864,318.22 yuan in H1 2024, down 6.5% from 50,116,010.43 yuan in H1 2023[141] - Investment income increased to 165,995,585.03 yuan in H1 2024, up 8.9% from 152,408,147.83 yuan in H1 2023[142] - Total comprehensive income reached 169,807,728.91 yuan in H1 2024, down 3.3% from 175,687,760.16 yuan in H1 2023[143] - Cash received from sales of goods and services amounted to 1,769,638,630.74 yuan in H1 2024, a 6.3% decrease from 1,888,579,265.48 yuan in H1 2023[144] - Tax refunds received decreased to 41,902,412.60 yuan in H1 2024, down 31.5% from 61,135,538.40 yuan in H1 2023[144] - Cash paid for goods and services decreased to 1,239,340,845.85 yuan in H1 2024, down 5.0% from 1,304,716,577.34 yuan in H1 2023[144] - Operating cash flow for the first half of 2024 was -183.26 million yuan, compared to -107.83 million yuan in the same period last year[146] - Investment cash flow for the first half of 2024 was -9.72 million yuan, compared to -149.71 million yuan in the same period last year[146] - Financing cash flow for the first half of 2024 was -191.80 million yuan, compared to -182.93 million yuan in the same period last year[146] - Net cash outflow for the first half of 2024 was 381.70 million yuan, compared to 439.09 million yuan in the same period last year[147] - Cash and cash equivalents at the end of the first half of 2024 were 418.87 million yuan, compared to 459.38 million yuan in the same period last year[147] - Parent company's operating cash flow for the first half of 2024 was 18.57 million yuan, compared to -67.23 million yuan in the same period last year[148] - Parent company's investment cash flow for the first half of 2024 was 46.57 million yuan, compared to -117.09 million yuan in the same period last year[149] - Parent company's financing cash flow for the first half of 2024 was -183.55 million yuan, compared to -163.35 million yuan in the same period last year[149] - Parent company's net cash outflow for the first half of 2024 was 118.41 million yuan, compared to 347.67 million yuan in the same period last year[149] - Parent company's cash and cash equivalents at the end of the first half of 2024 were 51.06 million yuan, compared to 194.13 million yuan in the same period last year[149] Business Operations - The company operates in four major business areas: quality technical services, electrical equipment, complete equipment, and environmental coatings and resins[20] - The quality technical services sector achieved a revenue of RMB 503 billion in 2023, a 22% increase year-on-year[20] - The company has 15 national-level technology R&D and service platforms, including the National Key Laboratory for Environmental Adaptability of Industrial Products[20] - The company's quality technical services sector is part of the high-tech service industry, which is a key area of national strategic development[20] - Quality technical service business covers multiple fields including smart home, smart cars, energy equipment, and healthcare, with a focus on direct sales and providing comprehensive services throughout the product lifecycle[21] - The company has established 9 large testing bases, 7 typical climate test stations, and 19 service outlets across 8 countries and regions, with a laboratory area exceeding 120,000 square meters[22] - In the first half of 2024, China's power and other battery production reached 430GWh, a year-on-year increase of 36.9%[23] - National renewable energy power generation installed capacity increased by 134 million kilowatts in the first half of 2024, a year-on-year growth of 24%[23] - Domestic electrolyzer capacity in 2023 was 11.5GW, with an expected capacity exceeding 40GW by 2025[23] - The company's electrical equipment business is a leading provider of new energy battery post-processing systems, with a strong presence in both domestic and international markets[25] - The company's complete equipment business has expanded to over 30 countries and regions along the "Belt and Road" initiative, with a growing influence in new energy vehicles and other emerging fields[25] - The environmental coatings and resin business is transitioning towards green and high-performance products, with increasing demand in sectors like 3C, new energy vehicles, and 5G base stations[27] - The company's polyester resin products, including aluminum profile powder coatings and non-organic tin environmentally friendly polyester resins, have maintained a top three position in domestic production and sales volume for the past two years[28] - The company has developed new powder coating products such as battery insulation powder coatings and dual-coat weather-resistant energy storage powder coatings, which improve battery performance and production efficiency[31] - The company's new series of environmentally friendly coatings and resin materials, including high-speed pre-coated coil powder coatings, have achieved international advanced levels, significantly reducing volatile organic compound emissions and energy consumption[31] - The company has applied for 96 intellectual property rights in the reporting period, including 38 invention patents, and has added 107 new intellectual property rights, including 40 invention patents[34] - As of June 30, 2024, the company has accumulated a total of 1,432 intellectual property rights, including 353 invention patents[34] - The company has led or participated in the formulation and release of 28 international, national, and industry standards, including 1 international standard, 13 national standards, and 14 industry standards[34] - The company's new technology for series formation and capacity grading of power and energy storage batteries has improved cell consistency and quality, increased charge-discharge efficiency by over 20 percentage points, and significantly reduced production energy consumption and carbon emissions[30] - The company's low-temperature curing powder coatings have expanded the application of powder coatings on heat-sensitive substrates by reducing curing temperatures, achieving energy savings and carbon emission reductions[31] - The company's tin-free polyester resin, synthesized using non-tin catalysts, meets the requirements for heavy metal usage limits in specific powder coating products, enhancing environmental standards[31] - The company's one-time thick-coat dual-component water-based epoxy anti-corrosion coatings have excellent anti-corrosion performance and high coating efficiency, expanding applications in commercial, heavy anti-corrosion, and new energy storage box fields[31] - Total R&D investment increased by 13.11% to 167.17 million yuan, accounting for 8.12% of total revenue, up 0.11 percentage points year-on-year[37] - The company completed the research and development of carbon peak and carbon neutrality assessment technology for the equipment manufacturing industry, with a total investment of 52 million yuan[39] - The green and low-carbon innovation service platform for electrical products has been completed, with a total investment of 1.5 million yuan, aiming to provide technical services for regional electrical industry enterprises[39] - The company developed environmental adaptability verification methods for aviation equipment, with a total investment of 2.4 million yuan, ensuring the safe and reliable operation of airborne equipment[39] - The development of the QLB product for special power generation fields has been completed, with a total investment of 8.1 million yuan, enhancing the company's comprehensive competitiveness[39] - The company successfully developed and mass-produced energy-saving and environmentally friendly resins for the automotive GLL field, with a total investment of 10.52 million yuan[39] - The ZFHZS system for industrial product environmental adaptability in marine environments has been developed, with a total investment of 11.6 million yuan, reducing testing costs[40] - The company completed the research and application of SHT technology for consumer electrical products, with a total investment of 13.95 million yuan, supporting carbon peak goals[40] - The company developed a green and low-carbon electrical and energy testing public service platform, with a total investment of 18 million yuan, serving key industries and enterprises[40] - The company conducted research on safety monitoring, early warning, and protection measures for offshore wind farms, with a total investment of 3.476 million yuan, achieving risk warning for offshore wind farms[40] - The company completed the development of multi-factor coupling accelerated testing equipment and a corresponding testing method, with a cumulative investment of 987.07 million yuan in the national-level R&D platform capability enhancement project[41] - The company successfully held the project kick-off meeting for the efficient separation and recycling of retired photovoltaic laminates, with a total investment of 1,000 million yuan and an initial investment of 69.13 million yuan[41] - The company initiated the digital ecological design technology project for photovoltaic modules, with a total investment of 440 million yuan and an initial investment of 86.70 million yuan, focusing on eco-design and material reduction[41] - The tire storage and retrieval system project has completed the design of the gantry manipulator and EMS trolley, with a cumulative investment of 406.80 million yuan and a total investment of 450 million yuan[41] - The company developed a new testing system for key air conditioning refrigeration and heating components, with a cumulative investment of 1,078.07 million yuan and a total investment of 1,470 million yuan[42] - The company completed the technical design and material procurement for the new energy vehicle thermal management module testing device, with a cumulative investment of 391.07 million yuan and a total investment of 460 million yuan[42] - The company is developing a noise chamber for heat recovery air handling units, with a cumulative investment of 252.56 million yuan and a total investment of 350 million yuan[42] - The company has developed a domestic intelligent warehousing and logistics system based on lean production, with a cumulative investment of 144.80 million yuan and a total investment of 350 million yuan[42] - The company has completed the research and testing of solar concentration qualification assessment technology for automotive parts, with a cumulative investment of 352.78 million yuan and a total investment of 354.70 million yuan[42] - The company has initiated clinical safety and efficacy research for Class III medical device radiofrequency beauty devices, with a cumulative investment of 281.22 million yuan and a total investment of 450.50 million yuan[42] - The company invested CNY 81.98 million in the research and development of intelligent home appliance simulation technology, achieving certain research results in key common technology standards[24] - A total of CNY 25 million has been invested in the development of a failure analysis and evaluation system for lithium-ion batteries used in new energy vehicles, with initial research results achieved[25] - The company has invested CNY 102.31 million in the research of wireless communication terminal product qualification assessment technology, focusing on RF and protocol consistency[26] - CNY 27.24 million has been invested in the research of air conditioning safety performance qualification assessment technology, with progress in leakage monitoring and ventilation activation systems[27] - The development of a new excitation system has seen an investment of CNY 148.36 million, with prototypes currently under development[28] - A new heating power supply project has received an investment of CNY 266.81 million, with prototypes in the development phase[29] - The company has invested CNY 344.34 million in the development of a battery simulator, which is currently in the prototype stage[31] - A new intelligent and digital power battery logistics conveyor line has received an investment of CNY 256.92 million, with prototypes under development[32] - The development of a new OCV/IR testing device for batteries has been completed and is now in mass operation, with an investment of CNY 175.06 million[33] - The company has invested CNY 191.69 million in the development of a series-based formation and capacity grading production testing system, which is now in mass operation[34] - The company has 560 R&D personnel, accounting for 18.30% of the total workforce, with a total R&D personnel compensation of 9783.21 million yuan and an average salary of 17.47 thousand yuan[47] - The company's R&D team consists of 16 PhDs (2.86%), 126 master's degree holders (22.50%), 343 bachelor's degree holders (61.25%), and 75 associate degree holders (13.39%)[48] - The age distribution of R&D personnel is: 152 under 30 years old (27.14%), 250 aged 30-40 (44.64%), 134 aged 40-50 (23.93%), and 24 aged