HOLSIN(SH:603909)2024-08-21 10:18Financial Performance - The company's operating revenue for the first half of 2024 reached ¥3,151,645,448.26, a significant increase of 197.54% compared to ¥1,059,225,747.56 in the same period last year[14]. - Net profit attributable to shareholders of the listed company increased by 65.95% to ¥34,038,942.04 from ¥20,511,610.41 year-on-year[14]. - The net profit attributable to shareholders after deducting non-recurring gains and losses rose by 72.99% to ¥31,163,843.50 from ¥18,015,063.62 in the previous year[14]. - Basic earnings per share for the reporting period were ¥0.1306, up 65.95% from ¥0.0787 in the same period last year[15]. - The company achieved a total cash collection of 2.71 billion RMB during the reporting period, representing a substantial growth of 225% year-on-year[46]. - The total comprehensive income attributable to shareholders for the first half of 2024 was CNY 45,942,009.58, compared to CNY 24,663,078.13 in the same period of 2023, an increase of 86.1%[96]. Cash Flow and Financial Position - The net cash flow from operating activities decreased by 186.30% to -¥43,756,293.30, primarily due to increased costs in construction and design services[14]. - The company implemented a cash flow management system, resulting in a net cash flow from operating activities of -43.76 million RMB, a decline of 186.30% year-on-year[49]. - The company reported cash inflow from investment activities of CNY 1,587,397,288.13, up from CNY 795,184,722.46, representing an increase of 99.5%[104]. - The total liabilities increased to CNY 689,418,144.75 in the first half of 2024, compared to CNY 518,222,346.16 in the same period of 2023, marking a rise of 33.0%[95]. - The total current assets increased to CNY 678,139,284.86 from CNY 536,826,754.09, marking a growth of around 26.3%[92]. Business Operations and Strategy - The company attributed the revenue growth to increased business in construction and design services during the reporting period[15]. - The company operates in the engineering technology service industry, focusing on six main business areas: surveying and design, engineering management, testing and inspection, construction, comprehensive maintenance, and engineering new materials[18]. - The company aims to accelerate the expansion of design and construction services related to housing construction, urban renewal, and infrastructure smart operation projects[22]. - The company is expanding its new materials business, focusing on high-performance materials and environmentally friendly materials, with products such as lightweight gypsum mortar and quick-drying concrete[22]. - The company signed new contracts worth 3.417 billion yuan, a decrease of 62.7% compared to the previous year[43]. Market and Industry Insights - In the first half of 2024, China's fixed asset investment in transportation reached CNY 1.7 trillion, highlighting its role as a stabilizing force for the economy[26]. - The total output value of the construction industry from January to June 2024 was CNY 138,312 billion, representing a year-on-year growth of 4.8%[28]. - The government plans to start the renovation of 54,000 old urban residential communities in 2024, reflecting the increasing demand for urban infrastructure upgrades[33]. - The construction industry is expected to benefit from new policies aimed at optimizing the real estate market and enhancing housing quality[28]. Assets and Liabilities - The total assets of the company at the end of the reporting period were ¥3,696,857,010.98, reflecting a year-on-year growth of 23.29% from ¥2,998,396,712.67[14]. - Accounts receivable increased to CNY 1,084,849,429.41, which is 29.35% of total assets, reflecting a growth of 30.34% compared to the previous year[51]. - Contract assets rose to CNY 1,470,976,389.32, making up 39.79% of total assets, with a year-on-year increase of 46.17% due to the growth in construction business[51]. - Total liabilities reached CNY 2,560,917,045.06, compared to CNY 1,877,799,138.17, which is an increase of approximately 36.4%[90]. Research and Development - The company invested in research and development, with R&D expenses totaling 18.79 million RMB, an increase of 18.94% year-on-year[49]. - The company established multiple innovation teams named after technical experts to enhance technological innovation and knowledge sharing[46]. Shareholder and Governance Information - The total number of ordinary shareholders as of the end of the reporting period is 7,719[82]. - The largest shareholder, Xiamen Yiyue Real Estate Co., Ltd., holds 29.01% of the shares[82]. - The company did not propose any profit distribution or capital reserve transfer plan for the half-year period, with no dividends or stock bonuses planned[66]. Environmental and Social Responsibility - The company actively fulfills its environmental responsibilities and complies with environmental policies, although it is not classified as a key pollutant unit[67]. Accounting and Financial Reporting - The financial statements prepared by the company comply with the requirements of the enterprise accounting standards, reflecting the financial position, operating results, and cash flows accurately[119]. - The company recognizes a normal operating cycle of 12 months for liquidity classification of assets and liabilities[121]. - The company follows specific accounting treatments for mergers under common control and non-common control, ensuring accurate measurement of assets and liabilities[124][126].