运达股份(300772) - 2019 Q2 - 季度财报

Financial Performance - Total revenue for the first half of 2019 was CNY 1,479,392,554.57, representing a 17.41% increase compared to CNY 1,259,985,656.64 in the same period last year[24]. - Net profit attributable to shareholders was CNY 12,032,750.40, up 28.54% from CNY 9,360,927.30 year-on-year[24]. - The net cash flow from operating activities was CNY -645,351,817.14, a decrease of 45.01% compared to CNY -445,032,667.09 in the previous year[24]. - Total assets at the end of the reporting period reached CNY 7,228,479,951.31, an increase of 9.61% from CNY 6,594,925,188.11 at the end of the previous year[24]. - Net assets attributable to shareholders increased by 48.14% to CNY 1,424,588,643.76 from CNY 961,663,125.29 at the end of the previous year[24]. - Basic earnings per share rose to CNY 0.05, a 25.00% increase from CNY 0.04 in the same period last year[24]. - The net profit after deducting non-recurring gains and losses was CNY -11,371,131.72, a decline of 343.64% compared to CNY -2,563,167.82 in the previous year[24]. - The weighted average return on equity was 1.07%, slightly down from 1.11% in the previous year[24]. - Operating costs increased by 25.04% to RMB 1,253,261,319.34 from RMB 1,002,311,497.56 in the previous year[69]. - The company's R&D investment decreased by 12.48% to RMB 56,640,739.15 from RMB 64,720,688.08 year-on-year[69]. - The company reported a significant increase in cash flow from financing activities, amounting to RMB 374,939,940.27, up 147.02% from RMB 151,785,115.57 in the previous year[69]. - The company's cash and cash equivalents increased by RMB -230,903,209.69, an improvement of 39.17% compared to RMB -379,558,204.62 in the previous year[69]. - The company reported a net profit of -5.19 million RMB for the first half of 2019, with total revenue of 130 million RMB[104]. - The company expects a cumulative net profit of 30 million RMB for the year, representing a 149.05% increase compared to the previous year[110]. - The company anticipates a net profit of approximately 1.80 million RMB for the period from July to September 2019, a 121.34% increase from the previous year[110]. Business Operations - The company focuses on the research, production, and sales of large wind turbine generators, transitioning to integrated services including wind farm surveying and operation[34]. - The company has maintained its core technology leadership in the wind power industry, ranking sixth in newly installed wind power capacity in China in 2018[36]. - In the first half of 2019, the national wind power generation reached 214.5 billion kWh, an increase of 11.5% year-on-year, with newly installed wind power capacity of 9.09 million kW[45]. - The company has a strong R&D capability, developing products tailored to various market demands, enhancing its market coverage[41]. - The national energy policy has shifted towards promoting grid parity for wind power, with a total installed capacity of 20.76 GW for new projects, including 4.51 GW for wind power in 2019[47]. - The company is actively involved in the development of wind power projects under the new policy framework, focusing on cost reduction and technological advancement[46]. - The company has established a comprehensive technical service team to address various challenges faced by clients throughout the project lifecycle[42]. - The company’s product lines include differentiated designs for various environmental conditions, enhancing competitiveness in diverse markets[40]. - The company has developed new high-capacity wind turbine products (3.X MW and 4.X MW) to meet the demands of the Sanbei wind power market, which can reduce investment costs significantly[65]. - The company has also completed the development of flexible tower structures for low wind speed and high shear wind markets, enhancing economic benefits for customers[65]. - The company has established a comprehensive team for decentralized wind power development, providing one-stop services to reduce investment risks for customers[68]. - The company secured new orders totaling 4,283.3 MW, a significant increase of 410% compared to the previous year[58]. - The total backlog of orders reached 7,513.3 MW, with a total value of RMB 26.168 billion[58]. - Wind power generation capacity added in the first half of 2019 was 9.09 million kW, an increase of 990,000 kW year-on-year[53]. - The average wind abandonment rate nationwide decreased to 4.7%, down 4.0 percentage points year-on-year, with abandoned wind power generation reduced by 7.7 billion kWh[53]. - The company completed the approval of 235,000 kW of wind resource development agreements, a year-on-year increase of 352%[63]. - The company launched the development and trial of smart wind turbines and smart wind farms 2.0, enhancing operational reliability and performance[64]. - The company achieved external sales capacity of 460.2 MW, reflecting a year-on-year increase of 24.38%[59]. - The company established long-term partnerships with major power groups, diversifying its customer base and reducing reliance on a few clients[62]. Investments and Funding - The total investment amount for the reporting period was ¥65,668,919.43, representing a 258.98% increase compared to the same period last year, which was ¥18,293,066.90[80]. - The company invested ¥60,259,401.68 in two major projects, with a cumulative actual investment of ¥105,423,634.64 by the end of the reporting period[80]. - The total amount of raised funds was ¥441,266,957.58, with ¥28,715.39 million invested during the reporting period[83]. - The cumulative amount of raised funds utilized was ¥28,715.39 million, with no changes in the use of raised funds reported[83]. - The company has completed the replacement of all self-raised funds used for investment projects with raised funds[92]. - The company has utilized idle raised funds for cash management, amounting to ¥35,000,000.00, with interest income of ¥250,526.37[83]. - The company has a total of 3,480 CNY million in external guarantees approved during the reporting period, with no actual guarantee amounts incurred[144]. - The company has a total of 1,800 CNY million in guarantees related to its investment in a joint venture with China Power Engineering Consulting Group[144]. Risks and Challenges - The company is facing risks related to policy changes that could impact the investment enthusiasm of wind power developers, directly affecting product sales[113]. - The company relies on specialized suppliers for component production, which poses a risk if suppliers fail to deliver on time[114]. - The company is committed to optimizing its supply chain and enhancing product quality to mitigate technology development risks in the fast-evolving wind power industry[115]. Corporate Governance and Compliance - The company held its annual general meeting with a participation rate of 70.90% on June 20, 2019[118]. - There were no major litigation or arbitration matters during the reporting period[123]. - The company reported a total of 10,176.35 thousand yuan in related party transactions, accounting for 4.03% and 3.53% of similar transaction amounts with Zhejiang Electromechanical Group and China Energy Wind Power respectively[129]. - The company has no significant asset or equity acquisition or sale transactions during the reporting period[130]. - The company has a long-term payable of 22,000,000 yuan to Zhejiang Electromechanical Group, with no interest charged[135]. - There were no penalties or rectification measures during the reporting period[125]. - The half-year financial report has not been audited[119]. - The company has no stock incentive plans or employee stock ownership plans in place during the reporting period[126]. - There were no media inquiries or doubts regarding the company during the reporting period[124]. - The company has not engaged in any fundraising changes or derivative investments during the reporting period[95][97]. - The company has not sold any significant assets or equity during the reporting period[99][102]. - The company did not undergo any changes in controlling shareholders or actual controllers during the reporting period[181]. - There were no changes in the shareholding of directors, supervisors, and senior management during the reporting period[190]. - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[180]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 36,174[174]. - The largest shareholder, Zhejiang Electromechanical Group, holds 45.92% of shares, totaling 135,000 shares[174]. - The second largest shareholder, China Energy Conservation Technology Investment Co., Ltd., holds 10.21% of shares, totaling 30,000,000 shares[174]. - The proportion of state-owned shares decreased from 78.24% to 58.68% after the issuance[163]. - The company’s basic and diluted earnings per share have been diluted due to the issuance of new shares[167]. - The company’s total share capital increased by 33.33% after the public offering[164]. Social Responsibility - The company is committed to fulfilling its social responsibilities in environmental protection and poverty alleviation[154]. - The company plans to actively respond to the national poverty alleviation initiative and contribute to the "13th Five-Year Plan" for poverty alleviation[154]. - The company does not belong to the key pollutant discharge units as per environmental protection department[153].