WUS(SZ:002463)2023-08-25 16:00Financial Performance - The company's operating revenue for the first half of 2023 was CNY 3,763,473,462, representing a 0.74% increase compared to CNY 3,735,733,687 in the same period last year[17]. - The net profit attributable to shareholders of the listed company decreased by 7.74% to CNY 492,605,909 from CNY 533,907,636 year-on-year[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 12.18% to CNY 444,190,535 compared to CNY 505,807,284 in the previous year[17]. - The net cash flow from operating activities increased significantly by 46.03% to CNY 1,080,735,245 from CNY 740,067,109 in the same period last year[17]. - Total assets at the end of the reporting period reached CNY 14,082,535,493, marking a 12.65% increase from CNY 12,501,322,508 at the end of the previous year[17]. - The net assets attributable to shareholders of the listed company increased by 4.46% to CNY 8,635,837,148 from CNY 8,266,898,543 at the end of the previous year[17]. - The basic earnings per share decreased by 7.96% to CNY 0.2591 from CNY 0.2815 in the same period last year[17]. - The diluted earnings per share also fell by 8.13% to CNY 0.2586 compared to CNY 0.2815 in the previous year[17]. - The weighted average return on net assets decreased by 1.4 percentage points to 5.83% from 7.23% in the same period last year[17]. - The company did not distribute cash dividends or bonus shares for the first half of 2023[4]. Market Conditions - The PCB industry is experiencing a downturn, with a projected global market value decline of approximately 9.3% in 2023, estimated at $74.14 billion[30]. - The global PCB market is expected to recover with a compound annual growth rate (CAGR) of 3.8% from 2022 to 2027, reaching approximately $98.39 billion by 2027[34]. - The Chinese PCB market is projected to grow at a CAGR of 3.3%, with an expected value of about $51.13 billion by 2027[32]. - The PCB market is currently facing challenges such as weak demand and high inventory levels, impacting overall industry performance[30]. Business Strategy and Focus - The company maintains a competitive advantage in the PCB sector, focusing on high-quality production and innovation since its establishment in 1992[28]. - The company continues to focus on core applications in communication equipment, data centers, and automotive electronics, which are critical for future growth[29]. - The company is committed to enhancing its technological capabilities and production efficiency to adapt to market demands[34]. - The global PCB industry is shifting towards high-precision and high-density products, indicating a trend towards specialization and green production[34]. Research and Development - The company's R&D investment in the first half of 2023 was approximately RMB 227 million, resulting in the acquisition of 4 invention patents and 4 utility model patents[39]. - Research and development expenses slightly decreased by 0.68% to CNY 227,194,572, indicating stable investment in innovation[55]. Operational Developments - The company is accelerating the construction of its production base in Thailand, with mass production expected to commence in Q4 2024[40]. - The company completed a capital increase of approximately RMB 776 million in January 2023 to expand production capacity for high-end automotive HDI products[45]. - The company is focusing on technology development in the automotive sector, particularly in areas such as electric vehicle systems and autonomous driving[44]. - The company has established strong long-term strategic partnerships with major clients, enhancing customer loyalty and diversifying its customer base[48]. Environmental and Social Responsibility - The company has implemented new pollution control measures to ensure compliance with environmental standards[134]. - The company is actively pursuing technological advancements to enhance its production processes and reduce emissions further[134]. - The company achieved a wastewater reuse rate of 70.6% at its Huli Microelectronics facility, with emergency wastewater storage capacity exceeding 3 days[138]. - The company invested approximately 28.57 million CNY in environmental protection system maintenance and upgrades in the first half of 2023[148]. - The company received the "Outstanding Performance Award for Climate Change Action" from CDP in 2021 and was recognized as a "Green Factory" by Jiangsu Province[137]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 156,977[190]. - BIGGERING(BVI) HOLDINGS CO., LTD. holds 19.51% of shares, totaling 371,799,937 shares[190]. - WUS GROUP HOLDINGS CO., LTD. holds 12.79% of shares, totaling 243,710,963 shares[190]. - The top three shareholders collectively hold 40.37% of the total shares[190]. - The company did not engage in any repurchase transactions during the reporting period[191]. Financial Position - The company's total liabilities increased to RMB 5.38 billion from RMB 4.23 billion, marking a rise of about 27.2%[199]. - The total equity attributable to shareholders rose to RMB 8.64 billion, up from RMB 8.27 billion, reflecting an increase of approximately 4.5%[199]. - The cash and cash equivalents amounted to RMB 1.65 billion, compared to RMB 1.29 billion at the end of 2022, indicating a growth of around 28%[197]. - The company's accounts receivable decreased to RMB 1.86 billion from RMB 2.24 billion, a decline of approximately 16.9%[197]. - Short-term borrowings increased to RMB 1.75 billion from RMB 1.41 billion, representing a rise of about 24.4%[199].