Furuise(300228)2024-08-27 10:13Financial Performance - Revenue for the first half of 2024 reached 1,612,702,795.81 yuan, a 17.28% increase compared to the same period last year[13] - Net profit attributable to shareholders of the listed company was 82,605,618.88 yuan, a significant increase of 367.02% year-on-year[13] - Net profit attributable to shareholders after deducting non-recurring gains and losses was 77,246,255.26 yuan, up 186.11% compared to the same period last year[13] - Basic earnings per share were 0.1436 yuan, an increase of 367.75% compared to the same period last year[13] - Diluted earnings per share were 0.1417 yuan, up 361.56% year-on-year[13] - Weighted average return on equity was 4.24%, an increase of 3.22 percentage points compared to the same period last year[13] - The company achieved a revenue of 1,612.7028 million yuan in the reporting period, a year-on-year increase of 17.28%, and a net profit attributable to shareholders of 82.6056 million yuan, a year-on-year increase of 367.02%[24] - Revenue increased by 17.28% to 1,612,702,795.81 yuan compared to the same period last year, driven by increased sales scale[26] - Net profit attributable to parent company owners surged by 367.02% to 82,605,618.88 yuan, primarily due to increased profits[27] - Total operating revenue for the first half of 2024 reached 1,612,702,795.81 RMB, a significant increase from 1,375,095,835.80 RMB in the same period last year[122] - Net profit for the first half of 2024 was 131,082,887.83 RMB, a substantial rise from 41,974,805.99 RMB in the first half of 2023[123] - Net profit attributable to parent company shareholders increased to 82,605,618.88 RMB, up from 17,687,952.67 RMB in the previous year[124] - Total comprehensive income for the period reached 103,789,194.91 RMB, compared to 25,081,843.78 RMB in the same period last year[124] - Basic earnings per share rose to 0.1436 RMB from 0.0307 RMB in the prior year[124] - The company's total comprehensive income for the first half of 2024 was RMB 82.28 million, with a net profit attributable to the parent company of RMB 82.61 million[132] - The company's total equity increased by RMB 129.91 million in the first half of 2024, reaching RMB 2.16 billion[132] - The company's capital reserve increased by RMB 31.87 million due to owner contributions and capital reduction[132] - The company's undistributed profit decreased by RMB 23.02 million due to profit distribution[132] - The company's total equity at the end of the first half of 2024 was RMB 2.16 billion, an increase of RMB 129.91 million compared to the beginning of the period[133] - The company's comprehensive income for the first half of 2024 was RMB 18.17 million, with a net profit attributable to the parent company of RMB 17.69 million[135] - The company's total equity increased by RMB 67.37 million in the first half of 2024, reaching RMB 1.76 billion[135] - The company's capital reserve increased by RMB 39.63 million due to owner contributions and capital reduction[135] - The company's undistributed profit decreased by RMB 20.05 million due to profit distribution[135] - The company's total equity at the end of the first half of 2024 was RMB 1.76 billion, an increase of RMB 67.37 million compared to the beginning of the period[135] - Total owner's equity at the end of the period is 575,406,349.00 yuan[136] - Capital reserve increased by 35,012,677.46 yuan during the period[139] - Comprehensive income for the period decreased by 25,625,904 yuan[139] - Profit distribution to owners (or shareholders) decreased by 23,016,253.96 yuan[139] - Special reserve decreased by 48,003.66 yuan during the period[140] - Total owner's equity at the beginning of the period was 1,872,478,804.40 yuan[139] - Total owner's equity at the end of the period decreased to 1,858,801,319.65 yuan[140] - Undistributed profit decreased by 23,997,133.57 yuan[140] - Capital reserve at the beginning of the period was 1,261,809,971.75 yuan[139] - Undistributed profit at the beginning of the period was 24,645,024.98 yuan[139] - Comprehensive income for the first half of 2024 was -10,519,748.89 RMB[143] - The company's total equity at the end of the period was 1,859,291,836.65 RMB[144] Cash Flow and Financial Position - Operating cash flow was -122,502,093.60 yuan, a decrease of 346.32% year-on-year[13] - Total assets as of the end of the reporting period were 4,304,957,020.06 yuan, a slight increase of 0.98% compared to the end of the previous year[13] - Shareholders' equity attributable to the listed company was 1,992,875,106.40 yuan, an increase of 4.93% compared to the end of the previous year[13] - Operating cash flow turned negative at -122,502,093.60 yuan, a 346.32% decrease, mainly due to increased payments for goods and taxes[26] - Accounts receivable increased by 7.19% to 905,421,549.98 yuan, accounting for 21.03% of total assets[31] - Inventory rose by 0.62% to 1,037,388,033.42 yuan, representing 24.10% of total assets[31] - The company's financial expenses decreased by 70.34% to 1,886,817.52 yuan, mainly due to reduced interest expenses[26] - Total assets increased to 4,304,957,020.06 yuan, up from 4,263,054,346.64 yuan at the beginning of the period[117][118][119] - Current assets totaled 2,843,854,700.39 yuan, compared to 2,767,874,861.16 yuan at the beginning of the period[117] - Non-current assets decreased to 1,461,102,319.67 yuan from 1,495,179,485.48 yuan at the beginning of the period[118] - Total liabilities decreased to 2,149,773,049.23 yuan from 2,237,779,247.97 yuan at the beginning of the period[119] - Current liabilities totaled 2,099,806,981.99 yuan, down from 2,198,721,228.51 yuan at the beginning of the period[119] - Non-current liabilities increased to 49,966,067.24 yuan from 39,058,019.46 yuan at the beginning of the period[119] - Total equity increased to 2,155,183,970.83 yuan from 2,025,275,098.67 yuan at the beginning of the period[119] - Net profit attributable to the parent company increased to 123,573,825.91 yuan from 63,984,461.00 yuan at the beginning of the period[119] - Accounts receivable increased to 905,421,549.98 yuan from 589,887,359.68 yuan at the beginning of the period[117] - Inventory increased to 1,037,388,033.42 yuan from 1,000,857,242.87 yuan at the beginning of the period[117] - Accounts receivable stood at 92,392,217.74 RMB as of the first half of 2024, slightly down from 93,793,640.34 RMB in the previous year[120] - Long-term equity investments increased to 1,345,391,423.86 RMB in the first half of 2024, up from 1,320,047,707.15 RMB in the same period last year[120] - Total assets as of the first half of 2024 were 2,076,183,030.33 RMB, compared to 2,117,098,929.46 RMB in the first half of 2023[120] - Total liabilities for the first half of 2024 were 217,381,710.68 RMB, down from 244,620,125.06 RMB in the same period last year[121] - Shareholders' equity increased to 1,858,801,319.65 RMB in the first half of 2024, up from 1,872,478,804.40 RMB in the first half of 2023[121] - Net cash flow from operating activities was -122,502,093.60 RMB, compared to 49,732,248.09 RMB in the same period last year[128] - Sales of goods and services generated 1,450,701,259.82 RMB in cash, up from 1,204,608,223.98 RMB in the previous year[128] - Payments for goods and services increased to 1,345,554,809.73 RMB from 991,923,332.29 RMB year-over-year[128] - Investment income received in cash was RMB 249,798.75, a significant decrease from RMB 3,683,713.29 in the previous year[129] - Cash received from disposal of fixed assets, intangible assets, and other long-term assets was RMB 560,563.58, down from RMB 5,377,046.81[129] - Total cash inflow from investment activities was RMB 3,060,362.33, a sharp decline from RMB 321,060,760.10[129] - Cash outflow for investment activities was RMB 64,357,717.64, compared to RMB 349,926,077.99 in the previous year[129] - Net cash flow from investment activities was negative RMB 61,297,355.31, an improvement from negative RMB 28,865,317.89[129] - Cash received from financing activities was RMB 217,873,295.00, down from RMB 560,296,000.00[129] - Net cash flow from financing activities was negative RMB 97,622,276.83, compared to positive RMB 93,775,301.22[129] - Net increase in cash and cash equivalents was negative RMB 275,877,150.71, a significant drop from positive RMB 124,078,468.73[129] - Cash received from sales of goods and services was RMB 21,713,519.69, up from RMB 8,648,148.86[129] - Net cash flow from operating activities was negative RMB 17,476,560.76, compared to positive RMB 41,159,449.99[129] R&D and Innovation - The company's R&D investment in the first half of 2024 was 64,141,381.92 yuan, accounting for 3.98% of operating revenue[19] - The company has 354 authorized patents, including 64 invention patents and 285 utility model patents[19] - The company successfully developed a liquid hydrogen supply system and supporting hydrogen valves for hydrogen fuel cell vehicles[19] - R&D investment nearly doubled, increasing by 95.85% to 64,141,381.92 yuan, reflecting heightened focus on innovation[26] - R&D expenses increased to 64,141,381.92 RMB in the first half of 2024, up from 32,750,494.69 RMB in the same period last year[123] - Research and development expenses increased to 4,221,514.01 RMB, up from 2,548,741.69 RMB in the previous year[126] Market and Sales Performance - The company's LNG application equipment, heavy equipment, and LNG processing and operation services all achieved good operating results in the first half of 2024[17] - Domestic LNG heavy-duty truck sales reached 108,800 units in the first half of 2024, a year-on-year increase of 104%[17] - The company's LNG vehicle gas supply system products saw significant sales growth, contributing to the company's market share and overall performance[24] - The company's overseas market orders for heavy equipment products remained strong, with high capacity utilization and steady development in international markets[24] - The company's LNG application equipment products, including LNG ship tanks, LNG tank containers, and LNG storage tanks, gained increasing recognition from overseas customers[24] - The company successfully built and operated over ten LNG liquefaction plants in the domestic market, enhancing its energy service business model and profitability[24] - Low-temperature storage and transportation equipment revenue grew by 21.94% to 698,209,630.91 yuan, with a 21.21% gross margin[28] - Sales expenses rose to 34,866,189.41 RMB in the first half of 2024, compared to 28,510,978.35 RMB in the same period last year[123] Investments and Subsidiaries - Total investment in the reporting period was 139,452,000 yuan, a 74.32% increase compared to the same period last year[35] - The company invested 106,452,000 yuan in establishing Singapore Furei Energy Services Investment Co., Ltd. and Furei Brazil Co., Ltd., holding 100% ownership[36] - The company invested 26,000,000 yuan in Sichuan Ruijin New Energy Technology Service Co., Ltd., holding a 65% stake[37] - The company invested 7,000,000 yuan in establishing Zhangjiagang Ruibo Intelligent Equipment Co., Ltd., holding a 70% stake[37] - Total raised funds amounted to 459,409,457.92 yuan, with 25,503,980 yuan already invested[39] - The company plans to use up to 240 million yuan of idle raised funds for cash management, including structured deposits and time deposits[39] - The company adjusted the investment amount for the "LNG High-Pressure Direct Injection Gas Supply System Project" by reducing 40 million yuan and reallocating it to the "Ship New Energy Equipment Manufacturing Upgrade and Expansion Project"[39] - The company terminated the "New LNG Intelligent Tank Container and Small Mobile Liquefaction Device Industrialization Project" and the "LNG High-Pressure Direct Injection Gas Supply System Project", reallocating the remaining 215,510,300 yuan to permanently supplement working capital[39] - The company's overseas assets in Hong Kong and Singapore account for 2.80% and 2.79% of the company's net assets, respectively, with no significant impairment risks[32] - The company's financial liabilities at the end of the period amounted to 2,092,200.99 yuan[34] - The new LNG intelligent tank container and small movable liquefaction device industrialization project has an investment progress of 24.30% with a cumulative investment of 4,024.08 million RMB[41] - The LNG high-pressure direct injection gas supply system project has an investment progress of 14.18% with a cumulative investment of 1,225.27 million RMB[41] - The normal temperature and low-temperature LNG ship loading and unloading arm project has an investment progress of 93.82% with a cumulative investment of 6,321.37 million RMB[41] - The hydrogen fuel cell vehicle liquid hydrogen supply system and supporting hydrogen valve R&D project has an investment progress of 97.82% with a cumulative investment of 6,064.43 million RMB[42] - The ship new energy equipment manufacturing upgrade and expansion project has an investment progress of 100.90% with a cumulative investment of 4,036.06 million RMB[42] - The company terminated the new LNG intelligent tank container and small movable liquefaction device industrialization project and reallocated the remaining funds for daily operations[43] - The LNG high-pressure direct injection gas supply system project was terminated due to high product prices and slow market adoption, with remaining funds reallocated for daily operations[43] - The normal temperature and low-temperature LNG ship loading and unloading arm project and hydrogen fuel cell vehicle liquid hydrogen supply system project were delayed, with the expected completion date extended to June 30, 2024[43] - The company terminated the "New LNG Intelligent Tank Container and Small Mobile Liquefaction Device Industrialization Project" due to insufficient market demand and cost inefficiency, reallocating the remaining funds to working capital[44] - The "LNG High-Pressure Direct Injection Gas Supply System Project" was also terminated due to high product costs and slow market adoption, with remaining funds redirected to working capital[44] - The "Cryogenic and Low-Temperature LNG Ship Loading and Unloading Arm Project" and "Hydrogen Fuel Cell Vehicle Liquid Hydrogen Supply System and Supporting Hydrogen Valve R&D Project" were delayed, with completion dates extended to June 30, 2024[44] - The "Ship New Energy Equipment Manufacturing Upgrade and Expansion Project" received a reallocation of 40 million RMB from the terminated LNG High-Pressure Direct Injection Gas Supply System Project, achieving a 100.90% investment progress[46] - The "Cryogenic and Low-Temperature LNG Ship Loading and Unloading Arm Project" had a surplus of 7.2254 million RMB, while the "Hydrogen Fuel Cell Vehicle Liquid Hydrogen Supply System and Supporting Hydrogen Valve R&D Project" had a surplus of 3.1078 million RMB due to cost control and interest income[45] - LNG high-pressure direct injection gas supply system project investment reduced by 4,000 million yuan due to market downturn and high natural gas prices[48] - LNG high-pressure direct injection gas supply system project terminated, with remaining funds reallocated for daily operations and business development[48] - Total entrusted wealth management amount in the reporting period was 3 million yuan, with no overdue or impaired amounts[49] - Derivative investment initial amount was 34.4521 million yuan, with a fair value change loss of 17,100 yuan during the reporting period[51] - Derivative investment end-of-period amount was 19.0839 million yuan, accounting for 0.96% of the company's net assets[51] - Derivative investment effectively reduced the impact of foreign exchange rate fluctuations on product profits[52] - Derivative investment risks include market, liquidity, credit, and legal risks, with control measures in place[52] - The company's financial derivative transactions are based on normal production