NCE(SH:605111)2024-08-12 09:21Financial Performance - The company achieved operating revenue of CNY 873,489,034.82 for the first half of 2024, representing a 15.16% increase compared to the same period last year[17]. - Net profit attributable to shareholders reached CNY 217,648,539.88, marking a 47.45% increase year-over-year[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 214,135,001.84, up 55.21% from the previous year[17]. - The company reported a net cash flow from operating activities of CNY 92,836,752.29, a decrease of 37.21% compared to the same period last year[17]. - As of the end of the reporting period, net assets attributable to shareholders were CNY 3,758,200,800.38, reflecting a 3.17% increase from the end of the previous year[17]. - Total assets amounted to CNY 4,262,293,763.53, showing a decrease of 1.78% compared to the previous year[17]. - Basic earnings per share for the first half of 2024 were CNY 0.52, an increase of 44.44% year-over-year[18]. - The company reported a weighted average return on equity of 5.85%, up 1.56 percentage points from the previous year[18]. - In Q2 2024, the company achieved operating revenue of CNY 501,806,575.28, a quarter-over-quarter increase of 35.01%[19]. - Net profit attributable to shareholders in Q2 2024 was CNY 117,582,102.62, reflecting a 17.50% increase from Q1 2024[19]. Dividend Distribution - The company plans to distribute a cash dividend of 0.53 RMB per 10 shares, totaling approximately 21.96 million RMB to shareholders[4]. - The company has not proposed any capital reserve increase or stock distribution in the current profit distribution plan[95]. - The company will adjust the distribution amount per share if there are changes in total share capital before the equity distribution date[95]. Corporate Governance - The board of directors confirmed that all members attended the meeting, ensuring the report's accuracy and completeness[3]. - The financial report has been signed and stamped by the responsible persons, ensuring its authenticity[9]. - The report is unaudited, indicating that the financial figures may be subject to change upon final audit[3]. - The company has appointed new directors, Zhu Jiutao and Yang Zhuo, following the resignation of two board members, ensuring continuity in governance[94]. - The company has experienced a change in management, with Ye Peng appointed as the new General Manager and Li Zongqing as the new Deputy General Manager[94]. Risk Management - The report includes a detailed description of potential risk factors faced by the company[6]. - The company emphasizes the importance of investment risk awareness regarding forward-looking statements in the report[5]. - The company faces market volatility risks that could impact demand and pricing in the semiconductor power device industry, closely tied to macroeconomic conditions[87]. Research and Development - The company invested 40.47 million yuan in R&D in the first half of 2024, accounting for 4.63% of its operating revenue[50]. - The company has developed over 3,000 product models in power semiconductor devices, covering a voltage range from 12V to 1700V, with applications in over ten key sectors including new energy vehicles and AI computing servers[22]. - The company has established a complete technical team with extensive experience in IGBT module product development and quality management[62]. - The company is actively expanding into emerging markets such as AI servers and low-altitude economy applications, with significant growth in demand for its products in these sectors[49]. Market Trends - The global power semiconductor market is projected to grow from USD 50.3 billion in 2023 to USD 59.6 billion by 2027, with China expected to reach a market size of USD 20.6 billion in 2024, accounting for approximately 38% of the global market[26]. - The demand for automotive chips is expected to increase, with electric vehicles requiring approximately 1,600 chips per vehicle compared to 600-700 for traditional fuel vehicles[29]. - The global AI server market size is projected to grow from $21.1 billion in 2023 to $34.7 billion by 2026, with a CAGR of 17.3%[31]. Environmental Compliance - The company has implemented measures to reduce carbon emissions, contributing to global "carbon neutrality" and "carbon peak" goals through products used in photovoltaic, energy storage, and new energy vehicle sectors[100]. - The company has not faced any administrative penalties for environmental issues during the reporting period, adhering to various environmental protection laws[98]. - Wastewater generated during production is treated to meet the standards of GB8978-1996 and GB/T31962-2015, ensuring minimal impact on the surrounding water environment[98]. - The company has established strict measures for air pollution control, ensuring compliance with the secondary standards of GB16297-1996[98]. Shareholder Information - The total number of common shareholders as of the end of the reporting period is 65,292[132]. - The top shareholder, Zhu Yuanzheng, holds 90,723,226 shares, representing 21.84% of the total shares[132]. - Zhu Yuanzheng, the chairman, increased his holdings by 25,920,922 shares during the reporting period[136]. Financial Position - The total liabilities decreased to RMB 417,398,261.71 from RMB 608,777,027.02, representing a reduction of about 31.36%[142]. - The cash and cash equivalents decreased to RMB 1,980,439,907.42 from RMB 2,668,018,647.65, a decline of approximately 25.8%[140]. - The company's equity attributable to shareholders increased to RMB 3,758,200,800.38 from RMB 3,642,558,105.24, reflecting an increase of about 3.18%[142]. Investment Activities - The company has invested a total of 10 million yuan in the Wuxi Linchang Venture Capital Partnership, focusing on projects in the semiconductor industry chain, including new materials and testing equipment[115]. - The company has ongoing projects in the development and industrialization of third-generation semiconductor devices, with total investments of 4,146.51 RMB in the current year[79]. Compliance and Legal Matters - The company has not reported any major litigation or arbitration matters during the reporting period[114]. - There are no significant changes in the integrity status of the company and its controlling shareholders during the reporting period[114]. - The company has not disclosed any major related party transactions that have not been previously announced[116].