深圳瑞捷(300977) - 2024 Q2 - 季度财报

Important Notice, Table of Contents and Definitions This section provides essential disclaimers, defines key terms used throughout the report, and outlines the reporting period Important Notice The company's management guarantees the report's accuracy, clarifies forward-looking statements, and announces no profit distribution for the period - The company's responsible person, chief accountant, and head of accounting department declare to guarantee the truthfulness, accuracy, and completeness of the financial report in this semi-annual report[1] - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital[1] Definitions This section defines key terms, company abbreviations, business types, industry-specific terminology, and the report's specific reporting period - The reporting period is defined as January 1, 2024 to June 30, 2024, with the prior year period being January 1, 2023 to June 30, 2023[6] - The company's core business is defined as third-party quality and safety management, specifically including third-party evaluation, project management, and inspection and appraisal services[4] Company Profile and Key Financial Indicators This section provides an overview of the company's basic information and presents its key financial performance metrics for the reporting period Company Profile The company, listed on the Shenzhen Stock Exchange under stock code 300977, changed its name to Shenzhen Ruijie Technology Co., Ltd. during the period - In 2024, the company changed its name from "Shenzhen Ruijie Engineering Consulting Co., Ltd." to "Shenzhen Ruijie Technology Co., Ltd."[13] Key Accounting Data and Financial Indicators The company experienced a significant performance decline, with revenue down 7.82% and net profit attributable to shareholders decreasing 61.84%, alongside a 290.05% drop in operating cash flow Key Financial Performance Indicators | Indicator | Current Period (CNY) | Prior Year Period (CNY) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 208,865,228.12 | 226,575,620.96 | -7.82% | | Net Profit Attributable to Shareholders of Listed Company | 10,586,917.02 | 27,743,377.77 | -61.84% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains/Losses) | 7,097,656.63 | 12,512,689.72 | -43.28% | | Net Cash Flow from Operating Activities | -59,019,968.20 | -15,131,494.47 | -290.05% | | Basic Earnings Per Share (CNY/share) | 0.07 | 0.18 | -61.11% | | Weighted Average Return on Net Assets | 0.75% | 1.98% | -1.23% | Non-Recurring Gains and Losses and Amounts Non-recurring gains and losses totaled 3.49 million CNY, primarily from financial asset transactions and a reversal of accounts receivable impairment provisions Non-Recurring Gains and Losses | Item | Amount (CNY) | | :--- | :--- | | Disposal gains/losses of non-current assets | -24,006.59 | | Government grants recognized in current profit/loss | 110,430.00 | | Gains/losses from holding and disposing of financial assets and financial liabilities | 2,066,431.19 | | Reversal of impairment provisions for accounts receivable subject to separate impairment testing | 1,584,111.52 | | Other non-operating income and expenses and other items | 313,191.45 | | Less: Income tax impact | 557,334.80 | | Less: Impact on minority interests (after tax) | 3,562.38 | | Total | 3,489,260.39 | Management Discussion and Analysis This section provides a detailed analysis of the company's operations, financial performance, asset and liability status, and investment activities, along with identified risks and mitigation strategies Principal Businesses Engaged in by the Company During the Reporting Period The company's core business in third-party evaluation and project management saw revenue decline 7.82% and net profit drop 61.84% due to real estate market pressures, despite significant growth in insurance and industrial client segments Key Financial Performance Summary | Indicator | Amount (million CNY) | Year-on-Year Change | | :--- | :--- | :--- | | Operating Revenue | 208.87 | -7.82% | | Net Profit Attributable to Shareholders of Listed Company | 10.59 | -61.84% | - Revenue from real estate clients continued to decline, decreasing by 31.27% year-on-year, which is the main reason for the company's overall performance decline[43] - Client structure continued to optimize, with rapid growth in industrial and insurance client revenue, increasing by 190.04% and 25.57% year-on-year respectively, while the proportion of real estate client revenue has decreased to 47.35%[44] - The company strengthened its informatization and digitalization efforts, collaborating with multiple universities to develop smart service platforms such as the "Hidden Hazard-Accident Cascade Failure Model," enhancing business efficiency and service value[47] Analysis of Core Competencies The company's core competencies encompass strong brand credibility, a nationwide service network, continuous product innovation, extensive data capabilities, a professional talent pool, and a culture of integrity - Brand Advantage: High credibility and industry recognition have been established through strict integrity management (e.g., "half reward for refusing bribes"), hosting industry summit forums, and participating in national Ministry of Housing and Urban-Rural Development projects[48][49] - Service and Product Advantage: A new "service + platform + data" model has been built, over 60 products covering six major client categories have been developed, and the company has led or participated in the formulation of 28 industry standards[50][52] - Data Advantage: Possesses the "Ruijie Database" covering over 700 cities nationwide and more than 500,000 project sections, and has developed digital tools like the "Insurance Risk Control Service Platform," enhancing service efficiency and value[53][54] Analysis of Main Business Main business revenue declined 7.82%, with third-party evaluation down 16.35% and project management up 7.54%; South China was the only region to show revenue growth Main Business Financial Performance | Item | Current Period (CNY) | Prior Year Period (CNY) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 208,865,228.12 | 226,575,620.96 | -7.82% | | Operating Cost | 131,955,284.09 | 137,750,877.19 | -4.21% | | Selling Expenses | 18,220,613.09 | 21,625,542.20 | -15.74% | | Administrative Expenses | 33,697,511.03 | 27,206,436.84 | 23.86% | | Net Cash Flow from Operating Activities | -59,019,968.20 | -15,131,494.47 | -290.05% | Main Business Revenue by Product/Service and Region | By Product/Service | Operating Revenue (CNY) | Operating Revenue Year-on-Year Change | | :--- | :--- | :--- | | Third-Party Evaluation | 121,904,079.19 | -16.35% | | Project Management | 85,917,514.31 | 7.54% | | By Region | | | | South China Region | 99,050,308.25 | 7.11% | | East China Region | 49,176,928.05 | -15.59% | Analysis of Non-Core Business Non-core operations significantly impacted total profit, with investment income contributing 180.76% while fair value, credit, and asset impairment losses had substantial negative effects Impact of Non-Core Business on Total Profit | Item | Amount (CNY) | Proportion of Total Profit | Reason for Formation | | :--- | :--- | :--- | :--- | | Investment Income | 18,154,310.13 | 180.76% | Primarily investment income from transferable time deposits, structured deposits, and other wealth management products | | Gains/Losses from Fair Value Changes | -8,187,800.59 | -81.53% | Primarily fair value changes from wealth management products and other non-current financial assets | | Credit Impairment Losses | -7,964,095.20 | -79.30% | Primarily provision for expected credit losses on accounts receivable | Analysis of Assets and Liabilities Total assets slightly decreased to 1.54 billion CNY, with a shift from trading financial assets to other current and non-current assets, and a 50 million CNY increase in short-term borrowings - Trading financial assets decreased by 13.08 percentage points (as a proportion of total assets), primarily due to reduced purchases of wealth management products[63] - The proportion of other current assets and other non-current assets increased by 3.53 and 6.32 percentage points respectively, mainly due to an increase in large-denomination time deposits maturing within one year and over one year[63] - Short-term borrowings increased by 50 million CNY, with its proportion of total assets rising from 0.01% to 3.25%, primarily due to discounted bank acceptance bills[63] Analysis of Investment Status Total investments decreased 57.74% to 554 million CNY, mainly in wealth management products, with 89.48 million CNY of over-raised funds and 115 million CNY of remaining raised funds permanently allocated to working capital Overall Investment Situation | | Investment Amount Current Period (CNY) | Investment Amount Prior Year Period (CNY) | Change Rate | | :--- | :--- | :--- | :--- | | Overall Situation | 554,000,000.00 | 1,311,000,000.00 | -57.74% | - Total raised funds amounted to 922 million CNY, with a cumulative investment of 614 million CNY; 89.4831 million CNY was invested during the reporting period[67] - The company permanently supplemented working capital with remaining raised funds and interest totaling 115 million CNY after the completion of fundraising projects[71] Risks Faced by the Company and Countermeasures The company addresses macroeconomic, real estate policy, accounts receivable, and market competition risks by diversifying clients, strengthening receivables management, and increasing R&D investment - Policy Risk: The company's business is closely related to real estate investment scale, and changes in macroeconomic and industry policies may have adverse effects; the company responds by developing new industrial and insurance clients and incubating existing market businesses[75][76] - Accounts Receivable Risk: At the end of the reporting period, the book value of accounts receivable was 277 million CNY, and some real estate clients may face tight cash flows; the company controls this risk through a comprehensive accounts receivable management system[77] - Market Competition Risk: Future industry competition may intensify; the company plans to enhance core competitiveness by increasing investment in R&D, talent, and business to meet challenges[78][79] Corporate Governance This section details the company's corporate governance practices, including shareholder meetings, changes in senior management, and the implementation status of equity incentive plans Shareholder Meeting Information The company held two shareholder meetings during the period, an extraordinary and an annual general meeting, both with over 74% investor participation Shareholder Meetings Held During the Reporting Period | Meeting Session | Meeting Type | Investor Participation Rate | Meeting Date | | :--- | :--- | :--- | :--- | | 2024 First Extraordinary General Meeting | Extraordinary General Meeting | 74.29% | January 11, 2024 | | 2023 Annual General Meeting | Annual General Meeting | 75.10% | May 16, 2024 | Changes in Directors, Supervisors, and Senior Management Liu Yanhui, Vice President and Board Secretary, was dismissed on April 25, 2024, due to personal reasons - Vice President and Board Secretary Liu Yanhui was dismissed on April 25, 2024, due to personal reasons[82] Implementation of Equity Incentive Plans The company is repurchasing and canceling some Class I restricted shares and invalidating Class II shares under its 2021 incentive plan due to departures and unmet performance targets - Due to the departure of some incentive recipients and the non-achievement of performance conditions for the third vesting period under the 2021 Restricted Stock Incentive Plan, the company plans to repurchase and cancel some Class I restricted shares (539,815 shares) and invalidate some Class II restricted shares[83] Environmental and Social Responsibility This section outlines the company's commitment and actions regarding environmental protection and social responsibility, including employee welfare and industry contributions Significant Environmental Issues The company and its subsidiaries are not major polluters, received no environmental penalties, and their professional technical services business has no harmful environmental impact - The company and its subsidiaries are not classified as key polluting units and had no environmental administrative penalties during the reporting period[85] Social Responsibility Information The company actively fulfills social responsibilities through sound governance, 100% employee contract and social security coverage, charitable aid, and contributions to construction industry quality improvement - Regarding employee rights, labor contract signing and social insurance contribution rates are both 100%, and multiple benefits are provided; during the reporting period, the "Ruijie Love Foundation" provided 0.2561 million CNY in assistance to 29 employees and their families in need[87] - In terms of industry contribution, the company cumulatively served 13,457 projects and identified 455,834 issues during the reporting period, promoting quality upgrades in the construction industry[87] Significant Matters This section addresses significant events, including legal proceedings and related party transactions, confirming the absence of major issues during the reporting period Litigation Matters The company had no significant litigation or arbitration during the period, though other minor lawsuits totaled 37.75 million CNY - The company had no significant litigation or arbitration matters during this reporting period[89] Litigation Overview | Litigation Status | Amount Involved (million CNY) | Whether Provision for Liabilities Formed | | :--- | :--- | :--- | | Other lawsuits not meeting the significant disclosure threshold | 37.7474 | No | Significant Related Party Transactions The company reported no significant related party transactions, including those related to daily operations or asset/equity changes, during the period - The company had no related party transactions related to daily operations during the reporting period[91] Share Changes and Shareholder Information This section details changes in the company's share capital and provides an overview of its shareholder structure, including major shareholders and their holdings Share Change Information Total share capital remained at 152,766,542 shares, with a net increase of 37,497 restricted shares due to executive lock-up recalculations and departures Share Capital Changes | Share Class | Quantity Before Change | Quantity After Change | Change in Quantity | | :--- | :--- | :--- | :--- | | I. Restricted Shares | 113,972,061 | 114,009,558 | +37,497 | | II. Unrestricted Shares | 38,794,481 | 38,756,984 | -37,497 | | III. Total Shares | 152,766,542 | 152,766,542 | 0 | Shareholder Numbers and Shareholding Information The company had 21,711 common shareholders, with Fan Wenhong and Huang Xinhua acting in concert as controlling shareholders, and other top ten shareholders being individuals or investment funds - As of the end of the reporting period, the total number of common shareholders was 21,711[104] Top Shareholders | Shareholder Name | Shareholding Percentage | Number of Shares Held | | :--- | :--- | :--- | | Fan Wenhong | 25.55% | 39,037,950 | | Huang Xinhua | 24.55% | 37,507,050 | | Shenzhen Ruimin Investment Consulting Co., Ltd. | 8.52% | 13,012,650 | | Shenzhen Ruike Investment Consulting Co., Ltd. | 8.18% | 12,502,350 | - Fan Wenhong and Huang Xinhua constitute parties acting in concert; Ruimin Investment is 100% held by Fan Wenhong, and Ruike Investment is 100% held by Huang Xinhua[103][105] Preferred Share Information This section confirms that the company has no preferred shares outstanding during the reporting period Preferred Share Status The company had no preferred shares outstanding during the reporting period - The company had no preferred shares during the reporting period[109] Bond Information This section confirms the absence of any bond-related activities or outstanding bonds for the company during the reporting period Bond Status The company had no bond-related activities or outstanding bonds during the reporting period - The company had no bond-related information during the reporting period[110] Financial Report This section presents the company's unaudited financial statements, including the balance sheet, income statement, and cash flow statement, along with detailed notes to the financial statements Audit Report The company's 2024 semi-annual financial report remains unaudited - The company's semi-annual financial report is unaudited[111] Financial Statements The financial statements show total assets of 1.54 billion CNY, net assets of 1.39 billion CNY, operating revenue of 209 million CNY, net profit of 10.59 million CNY, and a 59.02 million CNY operating cash outflow Consolidated Balance Sheet Key Items | Consolidated Balance Sheet Key Items | Period-End Balance (CNY) | Period-Beginning Balance (CNY) | | :--- | :--- | :--- | | Total Assets | 1,540,709,269.44 | 1,557,113,853.82 | | Total Liabilities | 144,475,040.34 | 138,067,260.58 | | Equity Attributable to Parent Company Owners | 1,394,210,974.44 | 1,417,549,279.72 | Consolidated Income Statement Key Items | Consolidated Income Statement Key Items | H1 2024 (CNY) | H1 2023 (CNY) | | :--- | :--- | :--- | | Total Operating Revenue | 208,865,228.12 | 226,575,620.96 | | Operating Profit | 10,142,302.90 | 28,542,338.49 | | Net Profit Attributable to Parent Company Shareholders | 10,586,917.02 | 27,743,377.77 | Consolidated Cash Flow Statement Key Items | Consolidated Cash Flow Statement Key Items | H1 2024 (CNY) | H1 2023 (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -59,019,968.20 | -15,131,494.47 | | Net Cash Flow from Investing Activities | 78,341,137.26 | 117,450,840.35 | | Net Cash Flow from Financing Activities | 9,247,257.83 | -77,373,581.86 | | Net Increase in Cash and Cash Equivalents | 28,568,426.89 | 24,945,764.02 | Notes to Consolidated Financial Statements Notes detail revenue by business (third-party evaluation 122 million CNY, project management 86 million CNY) and region (South China 99 million CNY), accounts receivable (book value 277 million CNY), and expensed R&D costs of 15.16 million CNY Operating Revenue Breakdown | Revenue Category | Current Period Amount (CNY) | | :--- | :--- | | By Business Type | | | Third-Party Evaluation | 121,904,079.19 | | Project Management | 85,917,514.31 | | By Operating Region | | | South China Region | 99,050,308.25 | | East China Region | 49,176,928.05 | Accounts Receivable Status | Accounts Receivable Status | Period-End Balance (CNY) | | :--- | :--- | | Book Balance | 427,789,224.71 | | Impairment Provision | 150,427,241.94 | | Book Value | 277,361,982.77 | - Total R&D expenses for the reporting period amounted to 15,162,690.20 CNY, all of which were expensed and did not result in capitalized expenditures[320][341]