Financial Performance - Revenue for the six months ended June 30, 2024, reached RMB 1,841,000, representing a 50.1% increase compared to RMB 1,226,859 for the same period in 2023[1] - Gross profit decreased to RMB 69,605, down 19.8% from RMB 86,774 in the previous year[1] - The company reported a profit of RMB 6,974 for the period, a significant recovery from a loss of RMB 7,418 in the same period last year[2] - Basic earnings per share for the period was RMB 0.33, compared to a loss of RMB 0.35 per share in the previous year[3] - The total comprehensive income for the period was RMB 5,748, compared to a loss of RMB 16,771 in the same period last year[4] - The company reported a profit attributable to owners of the parent of RMB 6,974,000 for the six months ended June 30, 2024, compared to a loss of RMB 7,418,000 for the same period in 2023[24] - The company achieved a profit attributable to owners of RMB 7.0 million, compared to a loss of RMB 7.4 million in the same period last year[34] Revenue Breakdown - Revenue for the six months ended June 30, 2024, reached RMB 1,841 million, a significant increase of 50% compared to RMB 1,227 million for the same period in 2023[11] - Sales in mainland China accounted for RMB 1,629 million, up from RMB 197 million in the previous year, representing a growth of 726%[11] - Other countries/regions generated revenue of RMB 212 million, a decrease of 79% from RMB 1,030 million in the same period last year[11] - Revenue from mainland China and Hong Kong accounted for 88.5% and 11.5% of total revenue, respectively[35] Expenses and Costs - The company reported other income and gains of RMB 32,035, down from RMB 36,076 in the previous year[2] - The company’s total sales cost for the six months ended June 30, 2024, was RMB 1,771 million, compared to RMB 1,140 million in the same period of 2023[17] - Research and development expenses for the period were RMB 64,236 million, reflecting an increase from RMB 52,136 million in the previous year[17] - The total employee cost during the review period was approximately RMB 184 million, with a workforce of 2,322 employees[45] Assets and Liabilities - Non-current assets totaled RMB 1,033,385 as of June 30, 2024, an increase from RMB 812,500 at the end of 2023[5] - Current liabilities rose to RMB 1,219,933, up from RMB 1,049,888 at the end of 2023[6] - The company’s net assets stood at RMB 1,015,196, slightly up from RMB 1,009,448 at the end of 2023[6] - Trade receivables increased to RMB 660,465 from RMB 542,417 in the previous year[5] - The company reported trade payables of RMB 1,219,933,000 as of June 30, 2024, compared to RMB 1,049,888,000 as of December 31, 2023, indicating an increase of about 16.2%[26] - The company has bank financing facilities amounting to RMB 1,770,000,000 as of June 30, 2024, slightly up from RMB 1,760,000,000 as of December 31, 2023[28] - The company reported no interest-bearing bank borrowings as of June 30, 2024, compared to RMB 3,161,000 as of December 31, 2023[29] - The company had no interest-bearing bank loans or other borrowings as of June 30, 2024, maintaining a capital debt ratio of 0%[38] Market Performance - The domestic smartphone market saw shipments reach 139 million units in the first half of 2024, reflecting an 11.6% year-on-year increase, outperforming the global market[31] - Global smartphone shipments grew by 6.5% year-on-year in Q2 2024, reaching 285.4 million units, marking the fourth consecutive quarter of growth[31] Future Outlook and Strategy - The company plans to expand its product categories and leverage opportunities from 5G, IoT, and AI technologies[37] - The company aims to enhance its competitiveness through improved technology and economies of scale while continuing to deepen cooperation with TCL Huaxing[37] - The company has no specific plans for significant investments or capital assets for the second half of 2024[44] Dividends and Share Capital - The company did not recommend any dividend payment for the six months ending June 30, 2024, consistent with the previous period[8] - The company’s issued share capital remained unchanged at 2,114,307,929 shares as of June 30, 2024[30] - The company did not declare any interim dividends for the six months ended June 30, 2024[46] Compliance and Governance - The audit committee reviewed the unaudited interim condensed consolidated financial statements for the six months ended June 30, 2024, ensuring compliance with applicable accounting standards[50] - There were no significant contingent liabilities or major investments held by the company as of June 30, 2024[42][44] - No major acquisitions or disposals of subsidiaries, associates, or joint ventures occurred during the review period[43] - The company has not engaged in any high-risk derivative transactions during the review period to manage foreign exchange risks[41]
华显光电(00334) - 2024 - 中期业绩