鱼跃医疗(002223) - 2024 Q2 - 季度财报

Shareholder Structure - The total number of ordinary shareholders at the end of the reporting period is 41,848[91] - Jiangsu Yuyue Technology Development Co., Ltd. holds 24.54% of the shares, totaling 245,983,450 shares[91] - Wu Guangming holds 10.32% of the shares, totaling 103,438,537 shares[91] - Wu Qun holds 7.72% of the shares, totaling 77,389,840 shares[91] - Hong Kong Securities Clearing Company Ltd. holds 3.49% of the shares, totaling 35,021,001 shares[91] - China Bank - Huabao CSI Medical ETF holds 1.93% of the shares, totaling 19,318,094 shares[91] - China Everbright Bank - Xingquan Business Model Preferred Hybrid Fund holds 1.32% of the shares, totaling 13,243,042 shares[91] - Industrial Bank - Xingquan New Vision Flexible Allocation Fund holds 1.11% of the shares, totaling 11,078,650 shares[91] - Basic Pension Fund 802 Portfolio holds 1.00% of the shares, totaling 10,000,007 shares[91] - National Social Security Fund 113 Portfolio holds 0.91% of the shares, totaling 9,169,229 shares[91] Financial Performance - Total assets decreased from 15,967,458,083.34 yuan to 15,616,627,078.76 yuan, a decrease of 2.2%[100] - Cash and cash equivalents decreased from 7,215,419,322.83 yuan to 6,566,988,527.29 yuan, a decrease of 9.0%[99] - Accounts receivable increased significantly from 448,210,952.92 yuan to 1,109,191,401.44 yuan, a 147.5% increase[99] - Inventory decreased from 1,412,311,882.61 yuan to 1,239,219,309.04 yuan, a decrease of 12.3%[99] - Total liabilities decreased from 4,051,960,445.73 yuan to 3,359,372,945.56 yuan, a decrease of 17.1%[100] - Long-term equity investments decreased from 225,884,423.71 yuan to 63,977,361.43 yuan, a decrease of 71.7%[100] - Fixed assets increased slightly from 1,974,016,723.76 yuan to 2,001,724,995.64 yuan, a 1.4% increase[100] - Retained earnings increased from 8,412,104,595.40 yuan to 8,730,698,539.15 yuan, a 3.8% increase[101] - Short-term borrowings decreased from 274,896,028.80 yuan to 387,886,638.31 yuan, a 41.1% increase[100] - Total equity increased from 11,915,497,637.61 yuan to 12,257,254,133.20 yuan, a 2.9% increase[101] - Total revenue for the first half of 2024 decreased to 4,307,611,897.68 RMB from 4,979,904,160.12 RMB in the same period of 2023, representing a decline of approximately 13.5%[105] - Net profit for the first half of 2024 was 1,122,893,792.17 RMB, down from 1,481,490,935.07 RMB in the first half of 2023, a decrease of about 24.2%[106] - Total assets as of the end of the first half of 2024 were 15,004,870,740.15 RMB, slightly lower than the 15,370,544,619.54 RMB at the end of the first half of 2023[103][104] - Total liabilities increased to 4,013,548,739.91 RMB in the first half of 2024 from 4,389,183,483.67 RMB in the same period of 2023[103][104] - Research and development expenses for the first half of 2024 were 269,617,925.64 RMB, a slight decrease from 273,681,234.77 RMB in the first half of 2023[105] - Operating profit for the first half of 2024 was 1,288,049,438.08 RMB, down from 1,797,530,327.47 RMB in the first half of 2023, a decline of approximately 28.3%[106] - Total equity attributable to shareholders was 10,991,322,000.24 RMB at the end of the first half of 2024, compared to 10,981,361,135.87 RMB at the end of the first half of 2023[104] - Interest income for the first half of 2024 increased significantly to 115,157,364.09 RMB from 56,346,593.12 RMB in the same period of 2023[106] - Other income for the first half of 2024 was 178,451,529.82 RMB, up from 60,597,376.77 RMB in the first half of 2023[106] - Total current assets as of the end of the first half of 2024 were 7,887,888,767.18 RMB, slightly lower than the 8,065,843,771.44 RMB at the end of the first half of 2023[103] - Operating revenue for the first half of 2024 was 2.96 billion yuan, a decrease of 15.0% compared to 3.49 billion yuan in the same period last year[108] - Net profit for the first half of 2024 was 788.31 million yuan, a decrease of 8.0% compared to 857.18 million yuan in the same period last year[109] - Basic earnings per share for the first half of 2024 was 1.1244 yuan, a decrease of 25.3% compared to 1.5046 yuan in the same period last year[107] - R&D expenses for the first half of 2024 were 123.89 million yuan, a decrease of 22.2% compared to 159.29 million yuan in the same period last year[108] - Net cash flow from operating activities for the first half of 2024 was 1.01 billion yuan, a decrease of 32.4% compared to 1.50 billion yuan in the same period last year[110] - Sales revenue from goods and services for the first half of 2024 was 3.94 billion yuan, a decrease of 20.0% compared to 4.93 billion yuan in the same period last year[110] - Total comprehensive income for the first half of 2024 was 1.12 billion yuan, a decrease of 24.6% compared to 1.49 billion yuan in the same period last year[107] - Interest income for the first half of 2024 was 89.91 million yuan, an increase of 88.5% compared to 47.70 million yuan in the same period last year[108] - Other income for the first half of 2024 was 162.06 million yuan, an increase of 729.2% compared to 19.55 million yuan in the same period last year[108] - Foreign exchange translation difference for the first half of 2024 was 142,688.72 yuan, a decrease of 97.8% compared to 6.39 million yuan in the same period last year[107] - Investment activities cash outflow totaled 151.33 million yuan, a significant decrease from 1.79 billion yuan in the previous period[111] - Net cash flow from investment activities was 133.43 million yuan, down from 244.41 million yuan in the previous period[111] - Net cash flow from financing activities was -1.79 billion yuan, compared to -1.60 billion yuan in the previous period[111] - Cash and cash equivalents at the end of the period were 6.55 billion yuan, down from 7.19 billion yuan at the beginning of the period[111] - Sales revenue from goods and services was 2.60 billion yuan, a decrease from 3.73 billion yuan in the previous period[112] - Net cash flow from operating activities was 1.01 billion yuan, down from 1.58 billion yuan in the previous period[112] - Net cash flow from investment activities was -33.60 million yuan, compared to 276.56 million yuan in the previous period[113] - Net cash flow from financing activities was -1.65 billion yuan, compared to -1.48 billion yuan in the previous period[113] - Cash and cash equivalents at the end of the period were 5.99 billion yuan, down from 6.66 billion yuan at the beginning of the period[113] - Comprehensive income for the period was 1.12 billion yuan, contributing to the increase in owner's equity[115] - The company's capital reserve increased by 1,143,081.00 yuan in the current period, with a usage of 185,935.61 yuan, resulting in a net increase of 957,145.39 yuan[116] - The company's comprehensive income for the current period amounted to 6,394,245.91 yuan, contributing to a total comprehensive income of 1,500,412,381.74 yuan[118] - The company's owner's equity at the end of the period was 10,977,399,806.92 yuan, reflecting an increase from the beginning balance of 10,066,485,523.85 yuan[119] - The company's capital reserve saw an increase of 10,927,155.33 yuan due to owner's contributions and other equity tool holders' capital[118] - The company's profit distribution to owners (or shareholders) amounted to 597,748,057.20 yuan[119] - The company's special reserve for the current period was 1,543,355.10 yuan, with an extraction of 1,801,658.70 yuan and a usage of 258,303.60 yuan[119] - The company's other comprehensive income for the current period was -3,126,092.05 yuan, which was offset by a gain of 6,394,245.91 yuan[118] - The company's retained earnings at the end of the period were 7,510,322,405.74 yuan, up from 6,614,052,327.11 yuan at the beginning of the period[119] - The company's total owner's equity at the end of the period was 10,977,399,806.92 yuan, compared to 10,066,485,523.85 yuan at the beginning of the period[119] - The company's capital reserve at the end of the period was 2,000,189,502.09 yuan, up from 1,989,262,346.76 yuan at the beginning of the period[119] - Total comprehensive income for the period reached RMB 788.31 million[121] - Capital reserve increased by RMB 19.90 million due to owner contributions[121] - Profit distribution to owners amounted to RMB 801.60 million[121] - Comprehensive income for the period was RMB 857.18 million[124] - Owner contributions and capital reduction resulted in an increase of RMB 10.93 million[124] - Profit distribution to owners was RMB 597.75 million[124] - Total equity at the end of the period was RMB 10.99 billion[122] - Total equity at the end of the period was RMB 9.53 billion[125] Company Overview - The company was established in 1998 and went public in 2008[126] - Total share capital of the company is 1,002,476,929 shares, with public shares accounting for 56.2031% (563,424,319 shares)[127] - Jiangsu Yuyue Technology Development Co., Ltd. holds 24.5376% of the shares (245,983,450 shares)[127] - The company has 48 subsidiaries consolidated in the first half of 2024[128] - A new subsidiary, Shanghai Lisi Jie Health Technology Co., Ltd., was added in May-June 2024[129] - The company operates in the medical device manufacturing industry, with business segments including diabetes management, emergency care, and surgical instruments[128] - The company's financial statements are prepared in accordance with Chinese Accounting Standards and CSRC regulations[132] - The company has a 12-month operating cycle and uses RMB as its functional currency[136] - The company's accounting policies include specific methods for bad debt provision, inventory measurement, and revenue recognition[134] - The company has established a new subsidiary in the US, Yuyue Medical Technology LLC, added in March-June 2024[130] - The company's financial statements reflect no significant concerns regarding its ability to continue as a going concern for the next 12 months[133] Significant Financial Events - Significant bad debt provision for receivables: Single provision amount exceeds 5% of total bad debt provision for receivables and is greater than 20 million RMB[137] - Significant recovery or reversal of bad debt provision for receivables: Single recovery or reversal amount exceeds 5% of total bad debt provision for receivables and is greater than 20 million RMB[137] - Significant write-off of receivables: Single write-off amount exceeds 5% of total bad debt provision for receivables and is greater than 20 million RMB[137] - Significant R&D projects expensed or externally acquired: Single R&D project budget exceeds 2% of total R&D expenses and is greater than 10 million RMB[137] - Significant construction in progress: Single project budget exceeds 100 million RMB[137] - Significant investment activities: Single investment activity exceeds 10% of total cash inflows or outflows related to investment activities and is greater than 100 million RMB[137] - Significant joint ventures or associates: Long-term equity investment in a single investee exceeds 2% of group net assets and is greater than 50 million RMB, or investment income under equity method exceeds 5% of group consolidated net profit[137] - Significant subsidiaries: Subsidiary net assets exceed 5% of group net assets, or subsidiary total profit exceeds 10% of group consolidated total profit[137] - Significant contract liabilities: Single contract liability aged over 1 year exceeds 10% of total contract liabilities and is greater than 10 million RMB[137] - Significant accounts payable: Single account payable aged over 1 year exceeds 5% of total accounts payable and is greater than 30 million RMB[137] Financial Assets and Liabilities - The company's financial assets are initially measured at fair value, with transaction costs directly recognized in profit or loss for those classified as fair value through profit or loss, while other categories include transaction costs in their initial recognition amount[144] - Financial assets classified as amortized cost include cash, accounts receivable, notes receivable, and other receivables, managed under a business model aimed at collecting contractual cash flows[144] - Financial assets classified as fair value through other comprehensive income (FVOCI) include debt instruments managed under a business model that aims to both collect contractual cash flows and sell the financial assets[144] - The company irrevocably designates certain non-trading equity investments as FVOCI, with subsequent fair value changes recognized in other comprehensive income and no impairment provisions required[144] - Financial liabilities are classified as either fair value through profit or loss or amortized cost, with transaction costs recognized accordingly[144] - The company uses an expected credit loss model to assess impairment for financial assets and contract assets, considering historical repayment data, economic policies, and macroeconomic indicators[145] - Accounts receivable and contract assets are grouped based on credit risk characteristics such as aging, nature of receivables, and historical repayment patterns[145] - For accounts receivable within the consolidated group, the company considers the actual performance and historical repayment of related parties, with no bad debt provision required due to low credit risk[146] - The company assesses expected credit losses for notes receivable based on the credit risk of the acceptor, with no expected credit loss recognized for bank acceptance notes from listed commercial banks[147] - The company evaluates bank acceptance bills as having no significant credit risk and does not need to provide for bad debts[148] - Commercial acceptance bills are subject to bad debt provisions based on expected credit losses, similar to accounts receivable[148] - Other receivables are categorized into different groups based on credit risk, with some groups requiring no bad debt provisions due to low credit risk[149] - Long-term receivables are measured for expected credit losses based on the credit risk increase since initial recognition[149] - Financial asset transfers are recognized and measured based on the transfer of risks and rewards, with differences in book value and consideration received recorded in current profit or loss[150] - Financial liabilities and equity instruments are distinguished based on the company's obligation to deliver cash or other financial assets[150] - Financial assets and liabilities are presented separately in the balance sheet unless specific conditions for offsetting are met[150] - Accounts receivable are treated similarly to financial assets measured at amortized cost[151] - Receivables financing is treated similarly to debt instrument investments measured at fair value with changes in other comprehensive income[152] - Contract assets represent the right to receive consideration for goods transferred to customers, contingent on factors other than the passage of time[153] - Non-current assets held for sale are not depreciated or amortized, and interest and other expenses on liabilities within disposal groups held for sale continue to be recognized[156] - The company measures long-term receivables' expected credit losses based on three scenarios: 1) financial assets with no significant increase in credit risk since initial recognition, 2) financial assets with a significant increase in credit risk since initial recognition, and 3) purchased or originated financial assets that have already experienced credit impairment[157] - The company's long-term equity investments include investments in subsidiaries and associates, with significant influence typically assumed when the company holds between 20% and 50% of the voting rights[158] - The company uses the equity method to account for investments in joint ventures and associates, adjusting the carrying amount of the investment based on changes in the investee's net assets[159] - Investment properties are measured using the cost model, with land use rights depreciated over 50 years and buildings depreciated over 20 years with a 5% residual value[160] - The company defines fixed assets as tangible assets held for production, service provision, rental, or management purposes, with a useful life exceeding one year and a unit value exceeding 2000 RMB[161] - Depreciation methods for buildings: straight-line method over 20-30 years with a residual value rate of 5% and annual depreciation rate of 3.17%-4.75%[162] - Depreciation methods for machinery: straight-line method over 5-20 years with a residual