Financial Performance - Revenue for the six months ended June 30, 2024, was approximately RMB 5,348.1 million, a decrease of about RMB 1,567.1 million or 22.7% compared to the same period last year[2]. - Gross profit was approximately RMB 1,492.1 million, down by about RMB 312.3 million or 17.3% year-on-year[2]. - Net profit attributable to shareholders was approximately RMB 377.7 million, a decrease of about RMB 229.3 million or 37.8% compared to the previous year[2]. - Total comprehensive income for the period was approximately RMB 274.7 million, significantly lower than RMB 726.6 million in the previous year[4]. - Basic and diluted earnings per share were both RMB 0.50, down from RMB 0.80 in the same period last year[4]. - The company reported a significant loss of RMB 77,446,012 in the current period, compared to a loss of RMB 35,292,340 in the previous year[16]. - The company reported a pre-tax profit of RMB 86,776,642 for 2024, compared to RMB 170,258,683 in 2023, reflecting a decrease of approximately 48.9%[16]. - The net profit attributable to shareholders after excluding non-recurring gains and losses was approximately RMB 119.9 million, down about 78.7% from RMB 563.7 million in the same period of 2023[56]. - The company’s financial expenses increased by 305.0% to approximately RMB 88.2 million, mainly due to increased foreign exchange losses[61]. Revenue Breakdown - Revenue from domestic customers decreased by approximately 20.0%, while revenue from overseas customers decreased by approximately 27.6% compared to the same period last year[2]. - The main business revenue from optical fibers and preforms was CNY 1,279,090,877, while cable revenue was CNY 1,929,959,316 for the first half of 2024[12]. - Total external revenue for the group for the six months ended June 30, 2024, was RMB 5,348,087,711, with the fiber and preform segment contributing RMB 1,279,090,877, the cable segment RMB 1,929,959,316, and the optical devices and modules segment RMB 539,671,108[30]. - The company achieved overseas business revenue of approximately RMB 1,766.2 million, accounting for 33.0% of total revenue in the first half of 2024[88]. - The company’s diversified business revenue reached approximately RMB 2,139.0 million, representing 40.0% of total revenue in the first half of 2024[89]. Assets and Liabilities - Total assets as of June 30, 2024, amounted to approximately RMB 29,879.9 million, compared to RMB 29,142.3 million as of December 31, 2023[6]. - Total liabilities increased to CNY 15,331,543,861 as of June 30, 2024, compared to CNY 14,744,846,456 at the end of 2023[7]. - Total equity attributable to shareholders reached CNY 11,328,044,672 as of June 30, 2024, compared to CNY 11,307,108,305 at the end of 2023[7]. - The debt-to-equity ratio as of June 30, 2024, was 40.0%, an increase from 31.6% as of December 31, 2023[66]. - As of June 30, 2024, the company's short-term borrowings amounted to RMB 2,315,084,520, an increase from RMB 1,749,536,836 as of December 31, 2023[48]. - The company's long-term borrowings, net of current portion, were RMB 5,932,956,283 as of June 30, 2024, compared to RMB 4,855,183,468 as of December 31, 2023[52]. Operational Efficiency - The operating cost for the first half of 2024 was CNY 3,856,020,124, compared to CNY 5,110,786,663 in the same period of 2023[11]. - The gross profit was approximately RMB 1,492.1 million, a decrease of about 17.3% from RMB 1,804.4 million in the same period of 2023, with a gross margin of 27.9%[58]. - Operating costs were approximately RMB 3,856.0 million, down 24.6% from RMB 5,110.8 million year-on-year, representing 72.1% of total revenue[58]. - The company reported a net cash outflow from operating activities of approximately RMB 130.4 million, primarily due to a decline in revenue during the period[67]. Market and Industry Insights - The domestic telecommunications industry showed stable operation, with mobile internet traffic reaching 160.4 billion GB in the first half of 2024, a year-on-year increase of 12.6%[81]. - The group highlighted the global fiber optic cable market's potential for growth, driven by increased digital transformation and infrastructure development in regions like North America and Europe[81]. - The company is optimistic about future demand for new fiber optic products driven by the growth of AI and data centers, with significant potential in both domestic and international markets[82]. - In the field of third-generation semiconductors, the company is making steady progress in the research, testing, and market expansion of advanced semiconductor products, particularly silicon carbide devices for the growing domestic new energy vehicle market, which saw a penetration rate surpassing 50% in June 2024[90]. Corporate Governance and Compliance - The board of directors resolved not to declare an interim dividend for this period[2]. - The audit committee has reviewed and discussed the unaudited interim results for the six months ending June 30, 2024, ensuring compliance with corporate governance standards[93]. - The company has adopted all provisions of the corporate governance code and has complied with all relevant regulations during the reporting period[94]. - Forward-looking statements made by the company are subject to risks and uncertainties, including market growth and regulatory changes, which may lead to significant differences from actual performance[97].
长飞光纤光缆(06869) - 2024 - 中期业绩