康强电子(002119) - 2024 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2024 was CNY 974,813,654.37, representing a 15.10% increase compared to CNY 846,898,078.24 in the same period last year[10]. - The net profit attributable to shareholders of the listed company was CNY 47,122,260.66, a 2.07% increase from CNY 46,164,533.23 in the previous year[10]. - The net profit after deducting non-recurring gains and losses was CNY 34,640,582.61, showing a decrease of 3.82% from CNY 35,628,368.26 in the same period last year[10]. - The net cash flow from operating activities was negative at CNY -6,590,283.60, a significant decline of 124.95% compared to CNY 26,419,098.61 in the previous year[10]. - Basic earnings per share were CNY 0.13, up 8.33% from CNY 0.12 in the same period last year[10]. - Diluted earnings per share were also CNY 0.13, marking an 8.33% increase from CNY 0.12 in the previous year[10]. - The gross profit margin for the manufacturing sector was 11.92%, a decrease of 2.24% from the previous year, with operating costs rising by 18.64%[23]. - The company reported a total non-operating income of CNY 12,481,678.05 for the reporting period[12]. - The company reported a significant increase in financial expenses by 238.70%, totaling CNY 6,000,951.18, primarily due to reduced exchange gains and interest income[21]. - The company achieved a net cash flow from operating activities of -CNY 6,590,283.60, a decline of 124.95% compared to CNY 26,419,098.61 in the previous year[21]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,418,649,323.68, an increase of 4.32% from CNY 2,318,443,408.98 at the end of the previous year[10]. - The net assets attributable to shareholders of the listed company were CNY 1,331,150,110.66, reflecting a 2.77% increase from CNY 1,295,280,178.12 at the end of the previous year[10]. - Cash and cash equivalents at the end of the reporting period amounted to CNY 197,084,801.26, accounting for 8.15% of total assets, a decrease of 0.40% from the previous year[26]. - Accounts receivable increased to CNY 530,369,164.47, representing 21.93% of total assets, up by 3.16% compared to the previous year[26]. - Inventory reached CNY 465,102,997.61, making up 19.23% of total assets, an increase of 0.55% from the previous year[26]. - Fixed assets decreased to CNY 584,625,753.42, which is 24.17% of total assets, down by 1.72% year-over-year[26]. - Total liabilities reached CNY 1,087,499,213.02, up from CNY 1,023,163,230.86, indicating a growth of approximately 6.3%[79]. - The company's total current liabilities rose to CNY 1,098,970,022.63 from CNY 1,045,355,529.02, reflecting a growth of 5.1%[82]. Research and Development - The company has developed 41 invention patents and 97 utility model patents, showcasing its strong R&D capabilities in semiconductor packaging materials[18]. - The company has established a provincial-level R&D center and has been involved in multiple national key R&D projects, enhancing its innovation capacity[18]. - R&D investment amounted to CNY 32,384,473.66, a slight decrease of 2.96% from CNY 33,371,403.92 in the previous year[21]. - Research and development expenses decreased to CNY 32,384,473.66 from CNY 33,371,403.92, indicating a reduction of 3%[84]. Market Position and Strategy - The global semiconductor market revenue is projected to reach USD 611.23 billion in 2024, representing a 16% increase from 2023[13]. - The company is recognized as one of the top ten semiconductor material suppliers in China, maintaining a leading position in the domestic market for lead frames and bonding wires[17]. - The company plans to enhance its overseas market development while maintaining stable growth in the domestic market[20]. - The company is committed to promoting technological innovation and improving product quality to enhance its competitive advantage in the semiconductor industry[18]. - The company operates under a "sales-driven production" model, aligning production plans with market demand and inventory levels[16]. Environmental and Social Responsibility - The online reuse rate of electroplating wastewater has reached over 80%, positioning the company as a leader in waste treatment and resource utilization in the industry[20]. - The company is committed to environmental protection and has passed evaluations for its environmental impact assessments[43]. - The company is committed to reducing carbon emissions and has set up an environmental management committee to monitor energy consumption and promote digital factory projects[45]. - The company achieved a water reuse rate of over 85% during the reporting period, contributing to its sustainable development strategy[48]. Governance and Compliance - The company has established a multi-tier governance structure, including a board of directors, supervisory board, and management team, to ensure effective oversight and management[105]. - The financial statements have been approved for external reporting on August 16, 2024, by the company's board of directors[105]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that the financial statements accurately reflect its financial position and operating results[110]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[45]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[47]. Shareholder Information - The company held its annual general meeting on April 23, 2024, with an investor participation rate of 27.38%[41]. - The company plans not to distribute cash dividends or issue bonus shares for this reporting period[1]. - The total number of shares outstanding is 375,284,000, representing 100% of the company's equity[64]. - The largest shareholder, Ningbo Pulisai Electronic Co., Ltd., holds 19.72% of the shares, amounting to 74,009,208 shares[69]. - The second-largest shareholder, Ningbo Simaisi Electronic Technology Co., Ltd., holds 7.52% of the shares, totaling 28,222,707 shares[69]. Legal Matters - The company is involved in several ongoing lawsuits, including a case against Anhui Jilait Electronics for 210,300 CNY and another against Jiangxi Xingyue Optoelectronics for 293,500 CNY[48]. - The company has not experienced any major litigation or arbitration matters during the reporting period[47]. Financial Instruments and Accounting Policies - The company recognizes revenue when control of the product is transferred to the customer, which occurs when the customer accepts the product and payment is received[183]. - Deferred tax assets and liabilities are recognized based on temporary differences between the book value of assets and liabilities and their tax bases, using the balance sheet liability method[188]. - The company recognizes right-of-use assets for leases, excluding short-term and low-value asset leases, measured at cost including initial lease liabilities and direct costs[191]. - The company assesses whether multiple transactions in a business combination should be treated as a package deal based on specific criteria, including interdependence and economic feasibility[118]. - The company applies the relative standalone selling price method to allocate transaction prices to multiple performance obligations in contracts[183].