BOMIN ELECTRONICS(SH:603936)2024-08-23 11:04Financial Performance - The company's operating revenue for the first half of 2024 was approximately ¥1.51 billion, a slight decrease of 0.03% compared to the same period last year[15]. - The net profit attributable to shareholders of the listed company was approximately ¥55.22 million, representing a decrease of 23.37% year-on-year[15]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥32.56 million, down 45.99% from the previous year[15]. - Basic earnings per share decreased by 30.77% to CNY 0.09 compared to the same period last year[16]. - Diluted earnings per share also decreased by 30.77% to CNY 0.09 year-on-year[16]. - Net profit attributable to shareholders, excluding non-recurring gains and losses, decreased by 50% to CNY 0.05 per share[16]. - Weighted average return on equity fell by 0.40 percentage points to 1.22%[16]. - The total operating revenue for the first half of 2024 was CNY 1,512,684,997.27, slightly down from CNY 1,513,190,912.59 in the same period of 2023, representing a decrease of 0.03%[123]. - The total profit for the first half of 2024 was ¥62,814,450.77, down 25.0% from ¥83,766,101.35 in the first half of 2023[124]. Cash Flow and Investments - The net cash flow from operating activities increased by 31.56% to approximately ¥269.41 million compared to the same period last year[15]. - The net cash flow from operating activities was primarily impacted by the receipt of VAT refunds[17]. - The investment activities generated a net cash flow of -¥541.89 million, a significant improvement from -¥1.46 billion in the previous year[51]. - The financing activities generated a net cash flow of ¥470.86 million, a decrease of 66.60% compared to the previous year[51]. - The company reported a net cash flow from financing activities of CNY 470,856,245.73, down from CNY 1,409,896,161.24 in the previous year[131]. Market Trends and Growth Areas - The global PCB market is expected to reach USD 73.026 billion in 2024, a year-on-year increase of 5%[20]. - The PCB market in mainland China is projected to grow by 4.1% to USD 39.3 billion in 2024[20]. - The server and data center sectors are anticipated to be key growth areas for the PCB market, with a CAGR of 6.5% from 2022 to 2027[20]. - The overall PCB market is expected to experience a CAGR of 5.4% from 2023 to 2028, reaching USD 90.4 billion by 2028[20]. - The demand for HDI boards is expected to grow significantly, with a CAGR of 6.2% from 2023 to 2028, driven by high-end consumer electronics and AI server markets[23]. - The penetration rate of new energy vehicles is increasing, leading to a new growth point for the PCB industry due to higher electronic control system demands compared to traditional fuel vehicles[23]. Product Development and Innovation - The company has been focusing on high-end products such as HDI boards, multilayer boards, and packaging substrates to accelerate production[27]. - The company is committed to innovation in high-value products, targeting sectors such as new energy vehicles, data/communication, and smart terminals[29]. - The company has developed a comprehensive process for ceramic substrate production, including sintering and surface treatment, which is expected to drive future growth[28]. - The company has established stable partnerships with major clients in the data/communications sector, including H, New H3C, and Inspur, for its 400G switch and data connection products, which are now capable of mass production[37]. Environmental Management - The company has established a comprehensive environmental management system to comply with regulations, but faces risks related to potential environmental incidents and increasing compliance costs[65]. - The company is focused on maintaining compliance with environmental standards, including the GB21900-2008 for air pollutants and GB39731-2020 for wastewater[78]. - The company has implemented a management plan for hazardous waste, ensuring compliance with storage and disposal regulations[81]. - The company has committed to self-monitoring and third-party testing for emissions, with frequencies set for wastewater and organized emissions[77]. Shareholder and Governance Matters - The actual controller of the company has committed not to reduce their shareholding in the company through secondary market or bulk transactions for 12 months starting from September 26, 2023[100]. - The company has established measures to avoid competition with related parties and will cease any competing business if necessary[96]. - The company will strictly adhere to relevant laws and regulations regarding related transactions to protect the interests of shareholders[98]. - The company has a policy to limit the transfer of shares by directors and senior management to no more than 25% of their total shareholding during their tenure[95]. Research and Development - Research and development expenses amounted to ¥62.16 million, representing 4.11% of total revenue, with a focus on server, digital products, new energy, automotive electronics, and ceramic substrates[49]. - The company applied for 26 patents during the reporting period, including 24 invention patents, and has a total of 291 authorized patents, ranking high in the industry[49]. - The company has developed a series of proprietary technologies, including embedded capacitors in PCBs, which improve reliability and reduce size[48]. Financial Position - The total assets of the company at the end of the reporting period were approximately ¥8.53 billion, an increase of 6.94% from the end of the previous year[15]. - The net assets attributable to shareholders of the listed company were approximately ¥4.53 billion, a decrease of 0.61% compared to the end of the previous year[15]. - Total liabilities were CNY 3,988,161,374.77, up from CNY 3,407,161,759.87, which is an increase of about 17.0%[119]. - The company's equity attributable to shareholders decreased slightly to CNY 4,531,752,354.20 from CNY 4,559,613,077.27, a decline of about 0.6%[119].