JACK(SH:603337)2024-08-12 09:38Financial Performance - The company's operating revenue for the first half of 2024 reached CNY 323,480.31 million, representing a 20.23% increase compared to CNY 269,054.16 million in the same period last year[19]. - The net profit attributable to shareholders of the listed company was CNY 41,668.38 million, a significant increase of 53.99% from CNY 27,059.86 million year-on-year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 38,219.85 million, up 56.14% from CNY 24,477.20 million in the previous year[19]. - The net cash flow from operating activities for the first half of 2024 was CNY 63,528.38 million, compared to CNY 60,576.00 million in the same period last year, reflecting a 4.87% increase[19]. - Basic earnings per share increased by 57.14%, from 0.56 RMB to 0.88 RMB[20]. - The weighted average return on equity rose by 3.45 percentage points, reaching 9.61%[20]. - The company's revenue for the first half of 2024 reached 3,234.80 million RMB, representing a year-on-year growth of 20.23%[27]. - Net profit attributable to shareholders for the same period was 416.68 million RMB, an increase of 53.99% compared to the previous year[27]. Assets and Liabilities - As of June 30, 2024, the net assets attributable to shareholders of the listed company were CNY 433,422.20 million, a slight decrease of 0.48% from CNY 435,496.81 million at the end of the previous year[19]. - The total assets of the company as of June 30, 2024, amounted to CNY 864,978.98 million, showing a 1.59% increase from CNY 851,461.42 million at the end of the previous year[19]. - The company's total assets at the end of the reporting period amounted to 4,421,753,213.94 RMB[119]. - The company's total liabilities at the end of the reporting period were 2,100,551,541.50 RMB[120]. - The total liabilities increased to ¥2,810,190,467.24 from ¥2,646,348,210.08, reflecting a growth of 6.2%[103]. Cash Flow - The company generated a net cash flow from operating activities of 635.28 million RMB, reflecting a year-on-year increase of 4.87%[27]. - The net cash flow from operating activities for the first half of 2024 was CNY 444,577,543.61, a decrease of 17.8% compared to CNY 540,856,623.01 in the same period of 2023[112]. - Total cash inflow from operating activities reached CNY 2,259,527,098.64, up 18.1% from CNY 1,913,269,009.12 year-on-year[112]. - The total cash and cash equivalents at the end of the period were CNY 1,374,822,391.10, down from CNY 1,103,809,939.85 at the end of the previous year[113]. Research and Development - The company launched several key products, including fast-response products, to drive product structure upgrades and growth[20]. - The company established 14 R&D centers across various cities, enhancing its core technology research in sewing machinery[31]. - R&D expenses rose by 21.65% to ¥208,992,404.47, reflecting higher salaries and consulting fees in the R&D sector[45]. - The company focused on high-quality product development and rapid market response, enhancing product capabilities through increased R&D investment and SKU optimization[41]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 0.30 per share (including tax), totaling CNY 139,323,622.50 million (including tax) based on the adjusted total share capital[3]. - A cash dividend of CNY 0.30 per share (including tax) is proposed, totaling CNY 139,323,622.50, which represents 33.44% of the net profit attributable to shareholders for the first half of 2024[61]. - The company repurchased shares amounting to CNY 235,074,502.22, with total cash dividends and repurchase amounting to CNY 374,398,124.72, accounting for 89.85% of the net profit attributable to ordinary shareholders[61]. Environmental Responsibility - The company has established multiple pollution control facilities across its plants, ensuring compliance with environmental standards[66]. - The company is committed to reducing carbon emissions by utilizing clean energy for power generation[76]. - The company has completed environmental impact assessments for multiple projects, including a production capacity of 700,000 industrial sewing machines and 1 million smart energy-saving industrial sewing machines[67]. - The company conducts regular environmental monitoring, including COD and ammonia nitrogen testing every two hours, with data updated hourly[70]. Corporate Governance and Compliance - The board of directors has confirmed that all members attended the board meeting, ensuring the accuracy and completeness of the semi-annual report[2]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[73]. - The company has confirmed that there are no major litigation or arbitration matters during the reporting period[80]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[80]. Market and Sales Performance - The export value of sewing machinery products from China in the first half of 2024 was 1.608 billion USD, with a year-on-year growth of 10.15%[26]. - The company achieved a 42.28% increase in domestic revenue, amounting to ¥1,773,204,459.59, while international revenue was ¥1,453,536,936.48, reflecting a 0.89% increase[46]. - The company operates over 8,000 distribution points in more than 170 countries, providing comprehensive solutions for intelligent garment manufacturing[33]. Related Transactions - The company reported a total of 4,260.00 million RMB in related transactions for the first half of 2024, with 2,219.35 million RMB realized in actual transactions[81]. - The company expects related transactions for 2024 to reach 2,350.00 million RMB, with 1,544.13 million RMB already realized in the first half of the year[81]. Financial Instruments and Accounting Policies - The company recognizes revenue when control of goods or services is transferred to the customer, which is defined as the ability to direct the use and obtain almost all economic benefits from the goods or services[170]. - The company applies the principle of substance over form in determining whether financial asset transfers meet termination criteria[140]. - The company recognizes its share of assets and liabilities in joint operations according to its ownership interest[136]. - The company recognizes deferred tax assets and liabilities based on the difference between the tax base and the carrying amount of assets and liabilities, calculated from temporary differences[175].