长盈精密(300115) - 2024 Q2 - 季度财报

Financial Performance - Revenue for the reporting period reached RMB 7.69 billion, a year-on-year increase of 30.15%[13] - Net profit attributable to shareholders of the listed company was RMB 433.30 million, compared to a loss of RMB 131.81 million in the same period last year[13] - Operating cash flow increased by 46.65% to RMB 695.44 million[13] - Total assets grew by 8.99% to RMB 20.24 billion[13] - Consumer electronics business revenue increased by 24.08% to RMB 5.23 billion[19] - New energy business revenue surged by 54.91% to RMB 2.14 billion[19] - Revenue increased by 30.15% to RMB 7,691,809,740.23 compared to the same period last year, driven by increased orders[23] - Operating costs rose by 29.88% to RMB 6,310,541,516.16, in line with revenue growth[23] - Net cash flow from operating activities surged by 46.65% to RMB 695,441,054.10, primarily due to increased cash from sales[23] - Net cash flow from financing activities jumped by 132.49% to RMB 1,140,676,014.89, mainly due to funds raised from specific share issuances[23] - Revenue from consumer electronics precision structural components and modules grew by 40.28% to RMB 3,705,210,591.22, with a slight increase in gross margin by 0.51%[24] - Revenue from new energy product components and connectors increased by 54.89% to RMB 2,143,747,052.99, despite a slight decrease in gross margin by 0.65%[24] - Investment income accounted for 35.97% of total profit, amounting to RMB 173,162,696.46, mainly from the disposal of long-term equity investments[25] - Monetary funds increased by 6.17% to RMB 3,708,084,539.89, representing 18.32% of total assets, driven by funds raised from specific share issuances[26] - Long-term loans decreased by 4.78% to RMB 1,408,718,182.01, mainly due to a reduction in medium and long-term loans[26] - Total investment in the reporting period decreased by 69.03% to RMB 402,470,794.54 compared to the same period last year[29] - Total raised funds amount to RMB 3,223.64 million, with RMB 1,488.72 million invested during the reporting period and a cumulative investment of RMB 1,827.85 million[30] - RMB 987.01 million used for the 5G smart terminal module project, achieving 99.73% of the planned investment[32] - RMB 740.98 million used for the Shanghai Lingang new energy vehicle components (Phase I) project, achieving 83.19% of the planned investment[32] - RMB 99.87 million used for the working capital replenishment project, achieving 43.42% of the planned investment[32] - The 5G smart terminal module project has generated cumulative benefits of RMB 706.99 million, meeting expected benefits[32] - The Shanghai Lingang new energy vehicle components (Phase I) project is expected to be operational by December 31, 2024[32] - The Changzhou Changying new energy power and energy storage battery components project is expected to be operational by June 30, 2025[32] - The Yibin Changying new energy power and energy storage battery components project is expected to be operational by June 30, 2026[32] - The smart wearable device AR/VR components project is expected to be operational by December 31, 2025[32] - The company increased the implementation entities and locations for the new energy vehicle component project, establishing subsidiaries in Yibin and Changzhou, with the total investment remaining unchanged[33] - The company used self-raised funds to pre-invest in the 5G smart terminal module project, with an actual investment amount of 229.98 million yuan, which was later replaced with raised funds[33] - The company used 378.3 million yuan of idle raised funds to supplement working capital, with the full amount returned to the raised funds account by December 1, 2023[34] - As of June 30, 2024, the unused raised funds for the 2020 private placement project amounted to 181.32 million yuan, including 159.5 million yuan temporarily used to supplement working capital[34] - The company pre-invested 27.8 million yuan in self-raised funds for the AR/VR wearable device component project and 3.77 million yuan for issuance fees, which were later replaced with raised funds[35] - The company added Yibin Changying Electronics as an implementation entity for the Yibin Changying new energy power and energy storage battery component project and adjusted the project construction period[35] - The company plans to extend the construction period of a fundraising project, with the new expected completion date set for June 30, 2026[36] - The company approved the use of up to 950 million yuan in idle raised funds to temporarily supplement working capital for a period not exceeding 12 months[36] - The company approved the use of up to 350 million yuan in idle raised funds for cash management, with a duration not exceeding 12 months[36] - The company's entrusted wealth management activities during the reporting period involved 38 million yuan, with an outstanding balance of 41 million yuan[38] - The company's forward exchange contracts for hedging purposes had a total value of 215.7465 million yuan at the end of the reporting period[40] - The actual profit and loss from hedging activities during the reporting period amounted to 80 million yuan[40] - The company's hedging activities effectively mitigated exchange rate risks during the payment cycle, achieving the expected risk management objectives[40] - The company's derivative investments are sourced from its own funds and are strictly for hedging purposes, with no speculative investments[40] - The company has established a comprehensive risk control system for derivative investments, including a dedicated management system and strict approval processes[40] - The company's derivative investments are valued monthly based on market quotes from external financial institutions[40] - Hidden Hill Investment sold its stake in Tianji Intelligence for 902.289 million yuan, contributing 17,996.35 million yuan to the company's net profit, accounting for 38.83% of the total net profit[42] - Guangdong Changying, a subsidiary, reported total assets of 7,112.61 million yuan, net assets of 3,130.91 million yuan, and a net profit of 100.60 million yuan[43] - Kunshan Jieshuntong, another subsidiary, reported total assets of 660.45 million yuan, net assets of 522.03 million yuan, and a net profit of 47.47 million yuan[43] - Lingang Changying, a subsidiary focused on new energy vehicle components, reported a net loss of 49.42 million yuan[43] - The transfer of Guangdong Tianji Intelligent System Co., Ltd. contributed 173.89 million yuan to the company's net profit[44] - The company faces macroeconomic risks, including global economic uncertainty and its impact on consumer electronics and new energy vehicle industries[45] - The company is exposed to exchange rate fluctuations due to its high proportion of foreign currency income, and it uses hedging strategies to mitigate this risk[45] - The company is addressing management risks by strengthening overseas talent cultivation and recruitment to support its international strategy[45] - The company held its 2024 first extraordinary general meeting with a 39% investor participation rate, approving the transfer of Tianji Intelligence's equity[48] - The company plans no cash dividends, stock dividends, or capital reserve to share capital conversion for the first half of the year[49] - The company adjusted its 2022 stock option incentive plan, reducing the number of incentive recipients from 2,790 to 2,569 and the total granted stock options from 24,653,620 to 14,251,698[50] - 2,569 incentive recipients were eligible to exercise 4,198,308 stock options in the second exercise period, with a 60% exercise ratio[50] - 78 incentive recipients exercised 140,049 shares during the reporting period[50] - The second phase of the employee stock ownership plan was extended by 24 months, with a total of 29,182,241 shares held by 1,320 employees, accounting for 2.20% of the company's total share capital[51] - The company transferred 5,060,000 shares to the fifth phase of the employee stock ownership plan, with a recognized expense of 62,238.00 RMB allocated to capital reserve (other capital reserve)[53] - The company and its subsidiaries are listed as key pollutant discharge units by environmental protection authorities[54] - The company strictly adheres to environmental protection laws and regulations, including the Environmental Protection Law, Water Pollution Prevention and Control Law, and Air Pollution Prevention and Control Law[55] - All construction projects have undergone environmental impact assessments and obtained necessary environmental protection administrative permits[56] - Guangdong Changying Precision Technology Co., Ltd. completed the fourth expansion project with environmental approval document Donghuanjian [2020]14208, approved on October 28, 2020[57] - The company's Songshan Lake Materials Laboratory construction project received environmental approval Donghuanjian [2022]13137, approved on December 21, 2022[57] - Dongguan Changying Precision Technology Co., Ltd. completed the third phase of its construction project with environmental approval Donghuanjian [2018]933, approved on February 1, 2018, and passed acceptance on January 31, 2023[57] - The company's precision electronics product expansion project (first expansion) received environmental approval Donghuanjian [2019]10916, approved on July 2, 2019, and passed acceptance on June 19, 2022[57] - The module expansion project received environmental approval Donghuanjian [2020]4131, approved on March 31, 2020, and passed acceptance on January 31, 2023[57] - The company's 5G smart terminal project in Songshan Lake (Eco-park) branch is part of the seventh expansion[57] - The precision electronics product expansion project's anode oxidation production line expansion is part of the seventh expansion[57] - The company's Songshan Lake (Eco-park) branch completed the first phase of its technical renovation project with environmental approval Donghuanjian [2021]5429, approved on September 3, 2021, and passed acceptance on January 10, 2023[57] - Guangdong Changying Precision Technology Co., Ltd. Dongguan Dalang Branch's fifth expansion project received environmental approval on March 28, 2024, with approval number Donghuanjian [2024]1851[58] - Dongguan Xinmeiyang Technology Co., Ltd. completed the acceptance of its intelligent terminal component production project expansion on June 1, 2022, with approval number Donghuanjian [2021]4337[59] - Kunshan Changying Precision Technology Co., Ltd. obtained a pollutant discharge permit valid from December 20, 2022, to December 19, 2027, with registration number 913205837938003576001V[60] - Shenzhen Changying Precision Technology Co., Ltd. reported VOC emissions concentration of 11.2mg/m³ and a rate of 0.21kg/h at emission port FQ-17, complying with the standard of 80mg/m³ and 5.1kg/h[61] - Dongguan Anmeitai Technology Co., Ltd. completed the environmental acceptance of its project on March 6, 2024, with approval number Donghuanjian [2023]5568[58] - Dongguan Xinmeiyang Technology Co., Ltd. completed the acceptance of its C-building expansion project on February 28, 2023, with approval number Donghuanjian [2022]10938[59] - Shenzhen Changying Precision Technology Co., Ltd. reported COD emissions concentration of 56mg/L, below the standard of 110mg/L, with a total discharge of 0.271t[61] - Guangdong Changying Precision Technology Co., Ltd. Dongguan Dalang Branch's clean production audit was accepted on June 17, 2022[58] - Kunshan Changying Precision Technology Co., Ltd. received environmental approval for its new energy vehicle parts production project on March 15, 2022, with approval number Suhuanjian (2022)83 No. 0767[60] - Dongguan Xinmeiyang Technology Co., Ltd. obtained a drainage permit valid from August 11, 2021, to August 10, 2026, with permit number Yueguanpai [2021] No. 0012757[59] - The company's wastewater treatment station has a standardized discharge outlet with a pH value of 7.6, which is within the acceptable range of 6-9[62] - The suspended solids (SS) concentration in the wastewater is less than 4 mg/L, well below the limit of 100 mg/L[62] - The BOD5 level in the wastewater is 19.1 mg/L, below the 30 mg/L threshold[62] - The ammonia nitrogen (NH3-N) concentration is 0.654 mg/L, significantly lower than the 15 mg/L limit[62] - The total nitrogen level in the wastewater is 2.06 mg/L, with no specified limit[62] - The chemical oxygen demand (COD) in the wastewater is 39 mg/L, below the 160 mg/L limit[63] - The total phosphorus concentration is 0.03 mg/L, well under the 2.0 mg/L threshold[63] - The total nickel level in the wastewater is 0.05 mg/L, half of the 0.1 mg/L limit[64] - The total copper concentration is 0.14 mg/L, below the 1 mg/L limit[64] - The total chromium level in the wastewater is not detectable (ND), indicating compliance with regulations[64] - The company invested in an industrial wastewater treatment station and outsourced its operation to ensure compliance with environmental standards, with daily monitoring and monthly third-party testing to ensure wastewater discharge meets standards[69] - The company established exhaust gas treatment facilities using methods such as activated carbon adsorption, UV photolysis, and electrostatic adsorption to handle production-related exhaust gases, with annual third-party monitoring confirming compliance with national standards[69] - Hazardous waste management is strictly followed, with designated storage areas and outsourcing to qualified hazardous waste treatment vendors for disposal[69] - Regular third-party testing is conducted on kitchen fumes, factory noise, and rainwater, with routine inspections and maintenance to ensure compliance with environmental regulations[69] - The company's 2024 semi-annual environmental monitoring results for pollutants, including domestic sewage, noise, exhaust gases, wastewater, and rainwater, were all qualified[70] - The company's wastewater treatment station achieved a COD (Chemical Oxygen Demand) level of 19 mg/L, well below the regulatory limit of 320 mg/L[65] - The BOD5 (Biochemical Oxygen Demand) level in the wastewater was measured at 3.8 mg/L, significantly lower than the regulatory limit of 150 mg/L[65] - Ammonia nitrogen levels in the wastewater were recorded at 0.274 mg/L, far below the regulatory limit of 30 mg/L[65] - The total phosphorus level in the wastewater was 0.71 mg/L, below the regulatory limit of 4 mg/L[65] - The total nitrogen level in the wastewater was 18.9 mg/L, below the regulatory limit of 70 mg/L[65] - Environmental protection and governance investment exceeded 27 million RMB[72] - The company has implemented advanced equipment to enhance wastewater treatment capacity and reduce sludge moisture content[73] - The company has replaced semi-synthetic cutting fluid with environmentally friendly fully synthetic cutting fluid and promoted the construction of cutting fluid evaporation purification systems[73] - The company has established a comprehensive performance evaluation system and provides a good working environment for employees[74] - The company has strengthened supplier quality management and built an effective supply chain system[74] - The company has no major litigation or arbitration cases during the reporting period[75] - The company has no penalties or rectification situations during the reporting period[77] - The company and its controlling shareholders have good credit status with no overdue debts or unfulfilled court judgments[78] - The company has no major related-party transactions during the reporting period[79] - The company has no significant guarantees provided during the reporting period[86] - The total guarantee amount for Guangdong Changying is 60,000, with actual guarantee amounts of 4,600, 6,400, 13,800, and 9,200 on various dates in 2022[88] - Guangdong Changying has a guarantee amount of 40,000, with actual guarantee amounts of 2,700, 200, 5,600, and 50 on various dates in 2023 and 2024[88] - Guangdong Changying has a guarantee amount of 15,000, with actual guarantee amounts of 10,000 and 4,900 on various dates in 2023[88] - Guangdong Changying has a guarantee amount of 10,000, with actual guarantee amounts of 5,100 and 4,900 on various dates in 2023 and 2024[88] - Guangdong Changying has a guarantee amount of 20,000, with actual guarantee amounts of 9,800 and 9,900 on various dates in 2023[88] - Guangdong Changying has a guarantee amount of 10,000, with an actual guarantee amount of 9,900 on August 30, 2023[88] - Guangdong Changying has a guarantee amount of 20,000, with actual guarantee amounts of 9,999 and 10,000 on September 26, 2023[88] - Guangdong Changying has a guarantee amount of 5,500, with actual guarantee amounts of 1,326.70 and 1,304.51 on various dates in 2023[88] - Kunshan Changying has a guarantee amount of 3,500, with actual guarantee amounts of 2,500 and 500 on various dates in 2023[89] - Kunshan Changying has a guarantee amount of 1,000, with an actual guarantee amount of 500 on December 19, 2023[89] - The total approved guarantee quota for subsidiaries during the reporting period was 572,530 million yuan, with actual guarantees issued amounting to 48,492.88 million yuan[91] - The total approved guarantee quota for subsidiaries at the end of the reporting period was 572,530 million yuan, with actual guarantee balances totaling 231,022.40 million yuan[91] - Yibin Changying had a guarantee quota of 62