舜宇光学科技(02382) - 2021 - 中期财报

Financial Performance - Revenue for the first half of 2021 reached RMB 19,833.4 million, an increase of 5.1% compared to RMB 18,863.8 million in the same period of 2020[8]. - Gross profit for the period was RMB 4,946.4 million, resulting in a gross profit margin of 24.9%, up from 19.5% in the first half of 2020[8]. - Profit for the period increased to RMB 2,706.6 million, representing a 52.2% growth from RMB 1,776.1 million in the first half of 2020[8]. - Earnings per share (basic) rose to RMB 2.46, compared to RMB 1.60 in the same period last year[8]. - Total revenue for the six months ended June 30, 2021, was RMB 19,833,436,000, an increase from RMB 18,863,768,000 in the same period of 2020, representing a growth of approximately 5.15%[193]. - Total comprehensive income for the period was RMB 2,701,956, compared to RMB 1,779,560 in 2020, marking a year-on-year increase of 51.6%[168]. Assets and Liabilities - Non-current assets increased to RMB 10,149.1 million, up from RMB 9,575.0 million in 2020[8]. - Total assets grew to RMB 36,664.9 million, compared to RMB 31,083.4 million in the previous year[8]. - Total liabilities amounted to RMB 18,142.2 million, a slight increase from RMB 17,387.8 million in 2020[8]. - The current ratio increased to 2.1 times, compared to 1.8 times in the first half of 2020, reflecting better liquidity[8]. - Current assets as of June 30, 2021, were approximately RMB 26,515.8 million, up from RMB 25,629.5 million as of December 31, 2020, representing an increase of approximately 3.5%[74]. - The Group's gearing ratio improved to 16.4%, down from 19.9% in the previous year, indicating a stronger financial position[8]. Research and Development - The company continues to focus on R&D in optoelectronic products, particularly in the fields of handsets, digital cameras, and vehicle imaging systems[2]. - R&D expenditure for the six months ended June 30, 2021, was approximately RMB 1,320.8 million, representing a 23.7% increase year-over-year, accounting for approximately 6.7% of the Group's revenue compared to 5.7% in the prior year[53]. - The Group is enhancing its technological R&D investment and continuously renovating process technology to promote product value addition[16]. - The Group's robotic vision business has made technological breakthroughs in ToF/structured light modules and VR/AR visual modules, leading in market share[30]. Market and Segment Performance - Revenue from the Optical Components business segment for the six months ended June 30, 2021, was approximately RMB 4,343.9 million, representing an increase of approximately 12.4% compared to the corresponding period of last year[18]. - Revenue from the optoelectronic products segment was approximately RMB 15,307.8 million, reflecting an increase of approximately 2.9% compared to the previous year, and accounted for about 77.2% of the Group's total revenue[25]. - Revenue from automotive related products increased significantly to RMB 1,613,885,000, up 72.3% from RMB 936,259,000 in the same period last year[193]. - Revenue from Asia (excluding China) surged to RMB 3,061,860,000, a substantial increase of 59.1% compared to RMB 1,923,805,000 in the first half of 2020[194]. Cash Flow and Financial Management - For the six months ended June 30, 2021, net cash from operating activities was approximately RMB 2,395.9 million, an increase from RMB 2,003.9 million in the same period of 2020[73]. - The Group's cash flow interest rate risk is managed by reviewing the proportion of fixed and floating rate borrowings to mitigate significant impacts from interest rate fluctuations[109]. - The Group's financial resources and liquidity are detailed in the management discussion, highlighting the importance of cash flow management[71]. - The Group will continue to monitor cash flow forecasts and maintain adequate liquidity to manage liquidity risk effectively[110]. Employee and Shareholder Information - The Group had 22,723 full-time employees as of June 30, 2021, and has established a competitive salary and welfare system to attract and retain talent[111]. - An aggregate of 884,979 shares were granted to eligible employees under the Restricted Share Award Scheme during the six months ended June 30, 2021[112]. - The Board proposed a dividend of approximately RMB 0.888 per share for the year ended December 31, 2020, with a payout ratio of approximately 20.0% of the profit attributable to owners of the Company[68]. - The Group aims to enhance its talent pool and incentivize existing employees through this share award program[128]. Corporate Governance and Compliance - For the six months ended June 30, 2021, the Company complied with all code provisions and adopted most recommended best practices of the Corporate Governance Code[150]. - The internal audit department ensures sound and effective internal controls to safeguard shareholders' investment interests and the Group's asset safety[150]. - The Company has established an enterprise risk management system to enhance risk management and corporate governance practices[151]. - All Directors confirmed compliance with the Model Code regarding securities transactions throughout the six months ended June 30, 2021[152].