JHM(SH:603078)2024-08-16 09:35Financial Performance - The company's operating revenue for the first half of 2024 was ¥521,533,472.66, representing a 4.54% increase compared to the same period last year[22]. - The net profit attributable to shareholders decreased by 12.17% to ¥56,893,354.75 from ¥64,774,393.57 in the previous year[22]. - Basic earnings per share decreased by 12.20% to ¥0.1475 compared to ¥0.1680 in the same period last year[23]. - The weighted average return on equity decreased by 0.33 percentage points to 3.56%[23]. - The total assets at the end of the reporting period increased by 3.85% to ¥2,811,618,573.65 from ¥2,707,392,295.83 at the end of the previous year[22]. - The company's gross profit margin decreased by 2.01 percentage points to 26.17%, with a net profit attributable to shareholders of 56.89 million yuan, down 12.17% year-on-year[52]. - The ultra-pure reagent business generated revenue of 329.98 million yuan, accounting for 65.46% of main business revenue, with a gross margin of 27.77%[52]. - The photoresist supporting reagent business achieved revenue of 174.13 million yuan, representing 34.54% of main business revenue, with a gross margin of 24.07%[52]. Cash Flow and Investments - The net cash flow from operating activities fell significantly by 51.90%, amounting to ¥31,623,473.03[22]. - The net cash flow from investment activities worsened by 207.60%, with a net outflow of CNY 137,271,677.20 compared to CNY -44,627,339.58 in the previous year[57]. - The company received approximately 100.00 million in cash from borrowings in the first half of 2024, a significant increase from 5.00 million in the same period of 2023[148]. - Cash inflow from investment activities totaled 287,336,718.49 RMB, a decrease of 28% from 401,282,706.63 RMB year-over-year[150]. - The ending cash and cash equivalents balance for the first half of 2024 was 397,214,487.91 RMB, down from 739,752,566.19 RMB at the end of the previous year[151]. Dividend Distribution - The company plans to distribute a cash dividend of 0.3 yuan per 10 shares (including tax), totaling approximately 11,569,117.44 yuan based on a total share capital of 38,563,724.8 shares as of June 30, 2024[5]. - The company has not proposed any capital reserve transfer to increase share capital in this dividend distribution plan[5]. Research and Development - The company's R&D expenses for the first half of 2024 amounted to 25.26 million yuan, representing 4.84% of sales revenue[46]. - The company has a total of 101 valid national patents, including 47 invention patents, and has developed over 100 new products and technologies[46]. - The company is committed to continuous R&D investment and enhancing its talent pool to support sustainable growth and high-quality development[53]. Market and Industry Analysis - The domestic market for wet electronic chemicals is rapidly expanding, with over 50 companies engaged in research and production[30]. - The wet electronic chemicals market in China reached a total scale of 22.5 billion yuan in 2023, representing a year-on-year growth of 15.56%[34]. - The projected market size for wet electronic chemicals in China is expected to grow to 29.275 billion yuan by 2025[34]. - The integrated circuit sector accounted for 72.8 billion yuan in 2023, with a forecasted growth to 86.1 billion yuan by 2025[36]. Environmental Management - The company reported a total nitrogen oxide emission of 8.85 mg/m³, which is within the compliance standards[86]. - The company achieved zero discharge for wastewater treatment, with all treated wastewater meeting discharge standards[89]. - The company has implemented noise control measures, maintaining noise levels below 85dB(A) at the site[93]. - The company has established strict waste management protocols, ensuring proper collection, storage, and disposal of hazardous waste[93]. - The company is focused on improving its emission standards and reducing environmental impact through ongoing research and development initiatives[86]. Compliance and Governance - The report indicates that the company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[7]. - The company has not violated any decision-making procedures for providing guarantees to external parties[7]. - The company emphasizes compliance with securities laws and regulations to protect shareholder rights and promote sustainable development[112]. - The company has established a complete independent labor, personnel, and compensation management system, separate from Zibo Finance Bureau and its controlled enterprises[107]. Risks and Challenges - The company faces macroeconomic risks, including potential adverse changes in fiscal, monetary, and trade policies that could negatively impact operational performance[70]. - The wet electronic chemicals industry is experiencing increased competition, which may affect product pricing and profitability[71]. - The company faces core technology risks due to the competitive nature of the wet electronic chemicals industry, which may impact operational performance if R&D capabilities do not align with industry trends[75]. - Rapid business expansion has increased the demand for high-level R&D, marketing, management, and financial talents, posing a risk if the current management system cannot adapt to the company's growth[76].