Financial Performance - In the first half of 2021, Intron Technology Holdings Limited achieved a significant revenue increase of 53% to RMB 1,320.6 million compared to the same period last year[6]. - The net profit for the same period rose by 41% to RMB 63.4 million, reflecting strong overall performance despite market challenges[7]. - Total revenue for the six months ended June 30, 2021, was RMB 1,320.6 million, a 53% increase compared to the same period last year, driven by the recovery of the Chinese automotive market[18]. - Gross profit increased by 47% to RMB 253.3 million, with an overall gross margin of 19.2%, slightly down from 19.9% in the previous year[19]. - The group's profit increased by 41% from RMB 44.9 million for the six months ended June 30, 2020, to RMB 63.4 million for the six months ended June 30, 2021[26]. - Basic earnings per share for the period was RMB 5.90, compared to RMB 4.34 in the same period of 2020, reflecting a 36% increase[60]. - The company reported a total comprehensive income of RMB 64,530 thousand for the period, compared to RMB 41,369 thousand in the previous year, marking a 56% increase[68]. Revenue Breakdown - Revenue from the new energy vehicle solutions surged by 179% to RMB 383.9 million, driven by the recovery of the domestic new energy vehicle market[8]. - The body control solutions revenue reached RMB 237.6 million, marking a 67% increase due to higher procurement from automotive manufacturers[10]. - The safety solutions segment saw a 30% growth, with revenue reaching RMB 253.3 million, supported by the production of advanced driver-assistance systems[10]. - The powertrain solutions revenue increased by 21% to RMB 140.8 million, attributed to the growth in automotive electronic control units[10]. - Industrial solutions revenue rose by 22% to RMB 283.6 million, driven by increased demand in data centers and cloud computing[12]. - Revenue from new energy products reached RMB 383.9 million, up 179% year-on-year, while body control and safety segments grew by 67% and 30%, respectively[18]. Research and Development - Research and development expenses amounted to RMB 97.3 million, representing 7.4% of total revenue, an increase from 6.7% in the same period last year[13]. - The company has established a new large-scale R&D testing and validation center in Shanghai, achieving national laboratory certification, which will enhance product reliability and accelerate product iteration[14]. - The company is focusing on enhancing R&D for semiconductor power devices and building an intelligent driving testing and validation base, with expected full utilization of funds by the end of 2023[37]. - The company has a strategic plan to strengthen its electric vehicle software development, with a budget allocation of RMB 35 million[37]. Financial Position - As of June 30, 2021, the group's cash and cash equivalents totaled RMB 673.3 million, up from RMB 388.3 million as of December 31, 2020[28]. - The net debt-to-equity ratio improved to 3.7% as of June 30, 2021, compared to 19% as of December 31, 2020[28]. - The company reported a net cash inflow from financing activities of RMB 295,184 thousand, compared to a net outflow of RMB 72,209 thousand in the same period of 2020[77]. - The company’s equity attributable to owners increased to RMB 1,591,516 thousand from RMB 1,291,912 thousand, a growth of 23%[71]. - Total assets as of June 30, 2021, amounted to RMB 2,398,065 thousand, up from RMB 2,054,378 thousand as of December 31, 2020[70]. Shareholder Information - Major shareholder Magnate Era Limited holds 48.43% of the company's ordinary shares, totaling 525,000,000 shares[40]. - As of June 30, 2021, the total shareholding of the company's directors and key executives was 657,330,000 shares, representing 60.64% of the total shares[45]. - The company has not disclosed any other individuals or companies with significant shareholdings apart from those mentioned[43]. - The company’s major shareholders include FIL Limited and Pandanus Associates, each holding approximately 6.95% of the shares[40]. Stock Options and Corporate Governance - The company has a stock option plan adopted on June 22, 2018, which is valid for ten years and allows for the issuance of up to 10% of the total issued shares as stock options, equivalent to 100,000,000 shares[50]. - The total number of stock options granted during the period was 31,977,600, with 23,800,000 options exercised and 3,084,900 options expired or forfeited[53]. - The company emphasizes high levels of corporate governance to protect shareholder interests and enhance corporate value[56]. - The audit committee, consisting of three independent non-executive directors, reviewed the financial reporting procedures and internal controls during the review period[58]. Market Outlook - The company anticipates a cautious yet optimistic market outlook despite ongoing chip supply shortages, driven by the increasing demand for automotive electronics and cloud services[17].
英恒科技(01760) - 2021 - 中期财报