Financial Performance - The company's operating revenue for the first half of 2024 was ¥337,774,120.16, representing a 20.76% increase compared to ¥279,714,778.05 in the same period last year[11]. - The net profit attributable to shareholders for the first half of 2024 was ¥50,011,952.69, up 28.12% from ¥39,034,872.84 in the previous year[11]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥38,566,232.94, reflecting a 45.72% increase from ¥26,466,320.40 year-on-year[11]. - The net cash flow from operating activities was ¥87,344,410.15, an increase of 11.34% compared to ¥78,445,961.51 in the same period last year[11]. - The total assets at the end of the reporting period were ¥1,693,904,660.26, which is a 4.22% increase from ¥1,625,366,608.82 at the end of the previous year[11]. - The net assets attributable to shareholders at the end of the reporting period were ¥1,452,545,307.27, up 1.67% from ¥1,428,754,879.56 at the end of the previous year[11]. - The basic earnings per share for the first half of 2024 was ¥0.1478, an increase of 28.08% compared to ¥0.1154 in the same period last year[11]. - The diluted earnings per share also stood at ¥0.1478, reflecting the same growth of 28.08% year-on-year[11]. - The weighted average return on equity for the first half of 2024 was 3.46%, an increase of 0.63% from 2.83% in the previous year[11]. - The cost of goods sold was ¥202,849,358.66, which is a 17.45% increase from ¥172,711,378.48 in the previous year[39]. - Research and development expenses amounted to ¥26,332,055.44, reflecting a 16.42% increase from ¥22,617,856.66 year-on-year[40]. - The company reported a total profit of CNY 58.46 million, up 28.0% from CNY 45.66 million in the first half of 2023[110]. - The company’s total comprehensive income for the first half of 2024 was CNY 44.66 million, compared to CNY 39.03 million in the same period of 2023[110]. Business Operations - The company specializes in precision cleaning services for semiconductor and display panel industries, focusing on providing integrated cleaning solutions to control equipment contamination[15]. - The semiconductor cleaning services cover major production processes, including oxidation, diffusion, lithography, etching, and mechanical polishing, serving approximately two-thirds of the integrated circuit manufacturing processes[16]. - The company has established long-term partnerships with major domestic semiconductor manufacturers, including SMIC and HuaLi Microelectronics, and collaborates with global equipment suppliers like Applied Materials and Tokyo Electron[16]. - The TFT cleaning services encompass a wide range of equipment used in liquid crystal panel manufacturing, covering various generations of deposition and etching equipment[17]. - The OLED cleaning services target key equipment in OLED panel manufacturing, including evaporation and ion implantation devices, covering around 900 component products[18]. - The company offers value-added services such as anodic oxidation processing to protect equipment parts from corrosion during etching processes, covering approximately 1,200 component products[19]. - The ceramic spraying service provides protective coatings for semiconductor and TFT manufacturing equipment, addressing the increasing demand for corrosion-resistant coatings[20]. - The company also provides semiconductor equipment maintenance services, specifically for CMP equipment, which includes cleaning and replacing worn components[21]. - The precision cleaning service industry is a critical segment of the industrial cleaning sector, ensuring high standards of cleanliness that directly impact production yield and cost[22]. - The precision cleaning service market for semiconductor equipment in mainland China was valued at RMB 2.6 billion in 2020, with projections to grow to RMB 4.34 billion by 2025, reflecting a compound annual growth rate (CAGR) of 10.8%[23]. - The semiconductor segment is expected to see a higher growth rate than the display panel segment, with an increase of RMB 1.43 billion and a CAGR of 13.5%[23]. - The company is one of the earliest providers of precision cleaning services for semiconductor PVD processes in China, establishing a leading position in the market[24]. - The company has set up a wholly-owned subsidiary in Japan in October 2023 to advance its global business expansion[24]. - The company focuses on providing customized cleaning service solutions, maintaining close cooperation with clients to meet their specific needs[26]. - The company employs a direct sales model and aims to expand its market presence by establishing relationships with leading global semiconductor companies[27]. - The company has developed a comprehensive R&D system, emphasizing both demand-driven and forward-looking research to enhance its cleaning service capabilities[28]. - The company has established long-term, stable relationships with major suppliers through annual framework contracts, ensuring a reliable procurement process[29]. - The company has a diverse customer base, including major semiconductor and display panel manufacturers, which supports its business growth and revenue generation[33]. - The company maintains a strong focus on innovation and has built a robust intellectual property system to support its technological advancements in precision cleaning services[35]. Investment and Financial Management - The company reported an investment income of ¥2,492,633.11, which accounted for 4.26% of the total profit, primarily from financial management gains[42]. - The total investment amount during the reporting period was ¥46,727,520.55, a decrease of 42.45% compared to ¥81,199,352.19 in the same period last year[46]. - The company made a significant equity investment of ¥10,000,000.00 in Shanghai Micro-Nano Precision Testing Technology Co., holding a 100% stake[47]. - The total amount of raised funds was ¥632,565,800, with ¥4,202,000 invested during the reporting period and a cumulative investment of ¥268,847,900[50]. - The cumulative amount of raised funds that have been repurposed is ¥93,045,400, accounting for 14.71% of the total raised funds[50]. - The investment progress for the ceramic melting and research center project is 28.97%, with a total cumulative investment of ¥34,760,700[51]. - The company reported a fair value change gain of ¥3,181,298.49 for financial assets during the reporting period[48]. - The total financial assets at the end of the period amounted to ¥344,267,046.56, after accounting for purchases of ¥432,683,000.00 and sales of ¥352,897,000.00[48]. - The company has no restricted asset rights as of the end of the reporting period[46]. - The cumulative investment in the R&D and analysis testing center expansion project is 43.75% of the total investment[51]. - The company has not encountered any litigation related to its investments during the reporting period[47]. - The company raised a net amount of 632.5658 million yuan from fundraising, with an oversubscription of 218.5941 million yuan, and approved the use of 65 million yuan of oversubscribed funds to permanently supplement working capital[52]. - As of June 30, 2024, unused fundraising funds remain in a dedicated account or are used for purchasing financial products[53]. - The company has invested a total of 53.74468 million yuan in entrusted financial management, with 34.03495 million yuan remaining unexpired[57]. Environmental Compliance - The company complies with various environmental protection laws and has obtained necessary environmental impact assessments and permits for its projects[74]. - Anhui Fulade invested over 9 million yuan in environmental protection measures, including pollution treatment facilities[78]. - The company paid 15,000 yuan in environmental protection tax during the reporting period[78]. - All pollution control facilities operated effectively in 2024, ensuring compliance with emission standards[77]. - The company implemented a self-monitoring plan for environmental compliance, with third-party testing conducted monthly and quarterly[78]. - Wastewater treatment systems were reported to be functioning normally, with treated water discharged to municipal treatment plants[77]. - The company has established a comprehensive waste management system, ensuring proper disposal of hazardous and non-hazardous waste[77]. - Emission standards for various pollutants were met, including particulate matter ≤120 mg/m³ and ammonia nitrogen ≤45 mg/L[76]. - The company has a total of 38 emission outlets, including 33 for waste gas and 1 for comprehensive wastewater[75]. - The company has no recorded administrative penalties for environmental issues during the reporting period[79]. - The company has developed emergency response plans for environmental incidents, regularly conducting drills to enhance preparedness[78]. Corporate Governance and Shareholder Relations - The company has maintained a strong commitment to protecting shareholder rights, ensuring accurate and timely information disclosure to all investors[81]. - The company has not reported any significant litigation or arbitration matters during the reporting period[83]. - The company has not engaged in any non-operational fund occupation by controlling shareholders or related parties during the reporting period[83]. - The company has adhered to labor laws and regulations, ensuring employee welfare and health through regular health check-ups and protective equipment[82]. - The company has established good cooperative relationships with suppliers and customers, focusing on mutual benefit and quality control[82]. - The company has not faced any penalties or corrective actions during the reporting period[84]. - The company has not undergone any bankruptcy restructuring during the reporting period[83]. - The company has not reported any violations regarding external guarantees during the reporting period[83]. - The company held its 2023 annual general meeting on May 23, 2024, with an investor participation rate of 67.52%[68]. - The company plans to grant a total of 8.25 million restricted stocks under the 2024 incentive plan, accounting for 2.44% of the total share capital of 33.839 million shares[70]. - The initial grant of restricted stocks will be 7.43 million shares, with a reserved amount of 820,000 shares, at a price of 10.80 CNY per share[70]. - The company will not distribute cash dividends or bonus shares for the half-year period[70]. - The company has received approval for its 2024 restricted stock incentive plan from the annual general meeting held on May 23, 2024[71]. - The company has confirmed the grant date for the initial restricted stock as May 24, 2024, with 742,000 shares to be granted to 172 eligible participants[72]. Risk Management - The company faces risks related to industry cyclicality, technology updates, management complexity, and core talent retention, and plans to enhance management systems and increase R&D investment to mitigate these risks[63][64][65]. Accounting and Financial Reporting - The financial report for the half-year period was not audited[103]. - The company operates in the scientific research and technical services industry, primarily providing professional cleaning services for machinery[128]. - The financial statements are prepared based on the assumption of going concern, with no significant doubts about the company's ability to continue operations for the next 12 months[130]. - The company adheres to the accounting standards for enterprises, ensuring that the financial statements reflect its financial position and operating results accurately[132]. - The accounting period for the financial report is from January 1, 2024, to June 30, 2024[133]. - The company uses RMB as its functional currency for domestic operations, while its overseas subsidiary in Japan uses the local currency[135]. - The company recognizes expected credit losses based on the risk of default, with loss provisions measured for financial assets at amortized cost and certain debt instruments[147]. - The company uses a perpetual inventory system for inventory management[157]. - The company measures inventory at the lower of cost and net realizable value, recognizing impairment when necessary[158]. - The company confirmed that long-term equity investments in controlled subsidiaries are accounted for using the cost method, while investments in joint ventures and associates are accounted for using the equity method[161]. - The company capitalizes borrowing costs directly attributable to the acquisition or construction of qualifying assets, with specific conditions outlined for when capitalization begins and ends[168]. - The depreciation method for fixed assets is based on the straight-line method, with specific rates such as 4.5% for buildings and 18%-30% for general equipment[165]. - The company recognizes investment properties using a measurement model that aligns with the relevant accounting standards[163]. - The company conducts annual impairment tests for goodwill and intangible assets with indefinite useful lives, recognizing impairment losses if recoverable amounts are below carrying values[172]. - Contract liabilities are recognized for obligations to transfer goods to customers for which payment has been received or is receivable[174]. - The company recognizes revenue based on the transaction price allocated to each performance obligation, excluding amounts collected on behalf of third parties[183]. - Government grants are recognized when conditions are met, with monetary grants measured at received or receivable amounts, and non-monetary grants measured at fair value[186].
富乐德(301297) - 2024 Q2 - 季度财报