协创数据(300857) - 2024 Q2 - 季度财报

Section I Important Notice, Table of Contents, and Definitions Important Notice The Board, Supervisory Board, and senior management guarantee the report's truthfulness, accuracy, and completeness, with no false records or misleading statements - The Board, Supervisory Board, and senior management guarantee the report's truthfulness, accuracy, and completeness, with no false records, misleading statements, or major omissions[2] - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital[2] Table of Contents The report's clear directory outlines ten main chapters covering operations, finance, governance, and social responsibility, providing a structured information index - The report contains ten main chapters, covering company operations, finance, governance, and social responsibility, among other aspects[3] Reference Documents Reference documents for the 2024 semi-annual report include the original full report signed by the legal representative, financial statements, and public disclosure documents, available at the Board of Directors' office - Reference documents include the original report signed by the legal representative, financial statements, and public disclosure documents from Juchao Information Network[4] - Reference documents are available at the company's Board of Directors' office[4] Definitions This section defines key terms and abbreviations used in the report, covering company entities, subsidiaries, industry technologies, and major clients/partners for accurate understanding - Defined company entities, subsidiaries, and industry technical terms (e.g., AI, AIGC, SSD, AIoT, NPU, VPU, VSaaS, KVM)[5][6][7] - Listed major clients and partners, including Lenovo Group, Anker Innovations, Xiaomi Ecosystem enterprises, Ring, Noise, LG, Buffalo, etc[5][6] Section II Company Profile and Key Financial Indicators Company Profile Sharetronic Data Technology Co., Ltd. (stock code: 300857) is listed on the Shenzhen Stock Exchange, with Geng Kangming as its legal representative - Company stock abbreviation: Sharetronic Data, stock code: 300857[8] - Company legal representative: Geng Kangming[8] Contact Information Contact information for Board Secretary Gan Xing and Securities Affairs Representative Hu Jie is provided, including address, phone, fax, and email for investor communication - Board Secretary: Gan Xing, Securities Affairs Representative: Hu Jie[9] - Contact address: Room 1209, 12th Floor, Tower 1, Yaohua Chuangjian Building, Shennan Avenue, Futian District, Shenzhen[9] Other Information Company contact information, disclosure, and reference locations remained unchanged, while registration details and wholly-owned subsidiary business registration were updated - Company contact information, information disclosure, and reference locations remained unchanged during the reporting period[10][11] - The registration date at the end of the reporting period was August 2, 2024, and the wholly-owned subsidiary completed its business registration change[13] Key Accounting Data and Financial Indicators In H1 2024, revenue grew 94.51% to CNY 3.578 billion, net profit attributable to shareholders increased 216.58% to CNY 358 million, and non-recurring net profit rose 227.49% to CNY 354 million, while operating cash flow decreased 330.96% to negative CNY 283 million, with total assets and net assets attributable to shareholders growing 16.19% and 16.40% respectively Key Accounting Data and Financial Indicators for H1 2024 | Indicator | Current Period (CNY) | Prior Period (CNY) | Y-o-Y Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 3,578,049,798.15 | 1,839,517,640.63 | 94.51% | | Net Profit Attributable to Shareholders of Listed Company | 357,780,204.86 | 113,014,448.22 | 216.58% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains/Losses) | 353,858,477.76 | 108,050,468.75 | 227.49% | | Net Cash Flow from Operating Activities | -282,636,844.33 | 122,377,206.19 | -330.96% | | Basic Earnings Per Share (CNY/share) | 1.47 | 0.50 | 194.00% | | Diluted Earnings Per Share (CNY/share) | 1.47 | 0.50 | 194.00% | | Weighted Average Return on Equity | 13.46% | 6.14% | 7.32% | | Period-End (CNY) | Prior Year-End (CNY) | Period-End vs. Prior Year-End Change | | | Total Assets | 5,932,884,059.34 | 5,106,002,002.18 | 16.19% | | Net Assets Attributable to Shareholders of Listed Company | 2,822,831,319.43 | 2,425,134,180.03 | 16.40% | Differences in Accounting Data Under Domestic and Overseas Accounting Standards During the reporting period, there were no differences in net profit and net assets between financial reports disclosed under international/overseas accounting standards and Chinese accounting standards - The company's reporting period showed no differences in accounting data under domestic and overseas accounting standards[15] Non-Recurring Gains and Losses Items and Amounts During the reporting period, the company's total non-recurring gains and losses were CNY 3.92 million, primarily from government grants, non-current asset disposal gains/losses, and fair value changes, with no reclassification of non-recurring items as recurring Non-Recurring Gains and Losses Items and Amounts for H1 2024 | Item | Amount (CNY) | | :--- | :--- | | Gains/Losses on Disposal of Non-Current Assets | 51,758.95 | | Government Grants Recognized in Current Profit/Loss | 6,602,179.28 | | Gains/Losses from Fair Value Changes and Disposal of Financial Assets/Liabilities Held by Non-Financial Enterprises | -2,349,369.66 | | Reversal of Impairment Provisions for Receivables Subject to Individual Impairment Testing | 17,733.00 | | Other Non-Operating Income and Expenses Excluding the Above | -553,953.80 | | Other Profit/Loss Items Meeting the Definition of Non-Recurring Gains/Losses | 787,807.09 | | Less: Income Tax Impact | 640,185.20 | | Minority Interests Impact (After Tax) | -5,757.44 | | Total | 3,921,727.10 | - The company does not classify non-recurring gains and losses as recurring gains and losses[17] Section III Management Discussion and Analysis Principal Businesses During the Reporting Period The company's main businesses include smart IoT terminals, cloud services, smart storage, and server remanufacturing, with significant growth in storage and AIoT markets driven by AI demand and market recovery, while actively participating in server remanufacturing standards and expanding product lines - The company's main businesses include smart IoT terminals, cloud services, smart storage devices, and server remanufacturing[18][27] - In H1 2024, the global storage market size surged by 85.8% year-on-year, with cumulative increases in NAND and DRAM both exceeding 20%[19] - Strong AI demand is driving increased average storage capacity in various AI terminals in 2024, with the highest growth in the server sector[20] - The company's commercial smart unmanned self-service beverage machine business is operating in 48 cities nationwide and is expanding health drinking water cooperative experience stores[30] - The company actively participates in formulating national standards for server remanufacturing products and develops new technologies to improve the utilization rate of retired servers[26][31] Industry Overview During the Reporting Period The smart IoT, cloud services, and smart storage industries are rapidly growing, driven by IoT, AI, and big data, with storage market growth fueled by price increases and server recovery, AI driving terminal storage capacity, and smart home/wearable markets rebounding with accelerating AI penetration, while smart security expands into smart cities, and server remanufacturing benefits from cloud, big data, AI, and green trends - The smart IoT terminal, cloud service, and smart storage device industries are experiencing rapid growth driven by IoT, AI, and big data technologies[18] - In Q1 2024, the global NAND Flash market size increased by 24.2% quarter-on-quarter to CNY 15.179 billion, and the DRAM market size increased by 6.2% quarter-on-quarter to CNY 18.756 billion[19] - China's AI+security software and hardware market size is expected to exceed CNY 90 billion by 2025[22] - The global water purifier market size is projected to reach CNY 120 billion by 2025, with smart water purifier penetration expected to reach 45%[22] - The server remanufacturing industry is benefiting from the integration of cloud computing, big data, and AI technologies, as well as green and environmental protection trends, leading to increased market demand[24] Main Business and Product Overview The company, centered on technological innovation, offers integrated products and services, aiming to be a global leader in smart IoT terminals, cloud services, smart storage, and server remanufacturing, with key products including high-performance enterprise SSDs and various AIoT smart terminals, alongside comprehensive server remanufacturing services - The company has a complete product line for SSDs, launching enterprise-grade SSDs to meet the high-performance storage requirements of the AI era[27] - The AIoT smart terminal product line is extensive, including smart cameras, smartwatches, smart cloud IoT integrated machines, and unmanned smart capsule coffee beverage vending machines[30] - The commercial smart unmanned self-service beverage machine business has been deployed in 48 cities nationwide, effectively addressing issues of difficult maintenance, high costs, and high food safety risks associated with traditional grinding machines[30] - The server remanufacturing business includes recycling, disassembly, R&D, production, sales, and maintenance services, aligning with national policies promoting remanufacturing of electromechanical products[31] Business Model The company operates through hardware manufacturing (JDM/ODM), cloud services (VSaaS, cross-border e-commerce, cloud phone, cloud computing globally), and server remanufacturing (North American recycling/disassembly by subsidiary, domestic R&D/production/sales) - Hardware manufacturing primarily adopts Joint Design Manufacturing (JDM) and Original Design Manufacturing (ODM) models[32] - Long-term stable cooperative relationships have been established with renowned enterprises such as Lenovo Group, Anker Innovations, Xiaomi Ecosystem enterprises, China Mobile Group, 360 Group, NetEase Youdao, Ring (USA), Noise (India), LG (Korea), and Buffalo (Japan)[32] - Cloud services include VSaaS video cloud services (providing visual AI PaaS services), cross-border e-commerce cloud business, cloud phone business (smart computing power services based on ARM SoC array servers), and cloud computing services (providing GPU computing power rental and PaaS/SaaS services)[33][34] - Cloud computing services cover Southeast Asia, Hong Kong, the United States, Japan, and other regions, offering public cloud, private cloud, and hybrid cloud delivery methods[34] - Server remanufacturing business involves recycling and disassembly by the controlling subsidiary SEMSOTAI NORTH INC. in North America, with R&D, production, and sales conducted by Sharetronic Data's Shenzhen Yantian branch and Bonded Zone branch[35][36] Core Competitiveness Analysis The company's core competencies include extensive smart hardware R&D, the Sharetronic AIoT cloud platform, high-performance server infrastructure, and an innovative e-commerce service platform, supported by continuous R&D investment, numerous patents, global cloud platform capabilities, superior computing power, and AI-driven social media automation solutions - The company continuously invests in R&D, establishing a Shanghai R&D center focused on cloud computing and forming a joint venture to strengthen cloud infrastructure technical capabilities[36] - The Sharetronic AIoT cloud platform integrates cloud microservices and cloud-edge collaborative computing, supporting daily PB-level data storage and hundreds of millions of devices online simultaneously, with a global layout[36] - High-performance server infrastructure offers ultra-high computing power, strong fault tolerance, security, stability, and ease of management, potentially reducing operating costs by 70% in mobile cloud gaming scenarios[36] - The innovative e-commerce service platform leverages globally pioneering AIGC video generation, AI live streaming, and RPA automation technologies to provide automated overseas social media platform operation solutions[36][38] - As of June 30, 2024, the company holds a total of 388 authorized patents (39 invention patents, 233 utility model patents, 115 design patents), 1 integrated circuit layout design, and 188 software copyrights[38] Analysis of Principal Business In H1 2024, revenue grew 94.51% to CNY 3.578 billion and net profit attributable to shareholders increased 216.58% to CNY 358 million, driven by significant growth in smart storage and IoT terminal businesses, coupled with cost optimization from falling raw material prices and digital manufacturing, leading to improved gross margins Year-on-Year Changes in Key Financial Data for H1 2024 | Indicator | Current Period (CNY) | Prior Period (CNY) | Y-o-Y Change | Significant Change Explanation | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 3,578,049,798.15 | 1,839,517,640.63 | 94.51% | Increased market demand, year-on-year increase in revenue from IoT smart terminal products and data storage devices | | Net Profit Attributable to Shareholders of Listed Company | 357,780,204.86 | 113,014,448.22 | 216.58% | Significant growth in smart storage and smart IoT terminal businesses, optimized costs and expenses | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains/Losses) | 353,858,477.76 | 108,050,468.75 | 227.49% | Same as above | | Net Cash Flow from Operating Activities | -282,636,844.33 | 122,377,206.19 | -330.96% | High notes payable balance at prior year-end, settled this period | | Research and Development Expenses | 90,810,307.21 | 58,401,884.45 | 55.49% | Strengthened R&D team, increased product R&D investment | | Financial Expenses | -12,810,217.96 | -69,981.24 | -18,205.22% | Impact of exchange rate fluctuations, rapid appreciation of USD, significant increase in exchange gains | - Smart storage business revenue grew significantly, benefiting from increased demand in AIPC, data centers, enterprise-grade storage, and edge computing devices[42] - Smart IoT terminal business became the company's main profit source for the semi-annual period through optimized product layout, increased sales of high-value-added products, and new customer development[42] - Falling raw material prices and the effectiveness of smart manufacturing digital construction led to continuous optimization of costs and expenses, resulting in an improved gross margin[42] H1 2024 Operating Revenue, Costs, and Gross Margin by Product/Service and Region | Category | Operating Revenue (CNY) | Operating Cost (CNY) | Gross Margin | Y-o-Y Change in Operating Revenue | Y-o-Y Change in Operating Cost | Y-o-Y Change in Gross Margin | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | By Industry | | | | | | | | Computer, Communication and Other Electronic Equipment Manufacturing | 3,578,049,798.15 | 2,953,448,684.10 | 17.46% | 94.51% | 85.87% | 3.84% | | By Product | | | | | | | | IoT Smart Terminals | 989,981,624.88 | 671,062,622.42 | 32.21% | 95.58% | 69.60% | 10.38% | | Data Storage Devices | 2,317,208,205.86 | 2,043,396,067.61 | 11.82% | 117.46% | 112.59% | 2.02% | | Other Categories | 270,859,967.41 | 238,989,994.07 | 11.77% | 1.17% | 2.95% | -1.52% | | By Region | | | | | | | | Domestic | 1,892,305,669.29 | 1,458,898,201.51 | 22.90% | 89.54% | 77.11% | 5.41% | | Overseas | 1,685,744,128.86 | 1,494,550,482.59 | 11.34% | 100.41% | 95.29% | 2.32% | Analysis of Non-Principal Business During the reporting period, non-principal businesses negatively impacted total profit, primarily due to investment losses (equity method and derivative financial assets), fair value changes (swap foreign exchange contracts), asset impairment (inventory), and credit impairment (receivables), none of which are sustainable Impact of Non-Principal Business on Total Profit for H1 2024 | Item | Amount (CNY) | Share of Total Profit | Sustainability | | :--- | :--- | :--- | :--- | | Investment Income | -5,350,417.72 | -1.31% | No | | Gains/Losses from Fair Value Changes | -1,415,154.35 | -0.35% | No | | Asset Impairment Losses | -16,835,777.28 | -4.12% | No | | Credit Impairment Losses | -36,989,404.82 | -9.06% | No | | Other Income | 7,389,986.37 | 1.81% | No | Analysis of Assets and Liabilities At period-end, total assets grew 16.19%, with accounts receivable up 7.54% due to increased sales, and short-term borrowings up 8.50% from expanded financing, while cash decreased 7.87% due to cash management and notes payable fell 8.15% from settlements, with significant increases in financial assets, prepayments, intangible assets, and deferred tax assets; Sharetronic Hong Kong's total assets were CNY 104 million, net profit CNY 24.19 million, representing 3.69% of company net assets, with no significant impairment risk, and restricted assets primarily included CNY 25.59 million in bank acceptance bill deposits Significant Changes in Asset Composition for H1 2024 | Item | Period-End Amount (CNY) | Share of Total Assets | Prior Year-End Amount (CNY) | Share of Total Assets | Percentage Change | Significant Change Explanation | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Cash and Bank Balances | 1,644,107,887.48 | 27.71% | 1,816,783,038.42 | 35.58% | -7.87% | Due to cash management of idle funds this period | | Accounts Receivable | 1,509,351,252.61 | 25.44% | 914,139,009.22 | 17.90% | 7.54% | Increased sales volume this period | | Short-Term Borrowings | 1,501,869,883.66 | 25.31% | 858,545,095.06 | 16.81% | 8.50% | Expanded business scale, increased financing | | Financial Assets Held for Trading | 44,041,583.52 | 0.74% | 755,729.40 | 0.01% | 0.73% | Due to purchase of wealth management products and structured deposits this period | | Prepayments | 138,299,682.55 | 2.33% | 44,188,412.22 | 0.87% | 1.46% | Due to increased inventory preparation this period | | Intangible Assets | 47,836,395.88 | 0.81% | 26,991,570.08 | 0.53% | 0.28% | Due to recognition of land use rights delivered for use as intangible assets this period | | Deferred Tax Assets | 72,802,223.02 | 1.23% | 38,368,818.17 | 0.75% | 0.48% | Due to increased deductible temporary differences | | Notes Payable | 671,344,261.08 | 11.32% | 994,188,421.97 | 19.47% | -8.15% | Due to maturity of prior period notes payable | - Sharetronic Hong Kong's total assets were CNY 104 million, net profit CNY 24.19 million, accounting for 3.69% of the company's net assets, with no significant impairment risk[48] - Financial assets measured at fair value totaled CNY 89.24 million at period-end, and financial liabilities totaled CNY 5.14 million[49] - Restricted assets at period-end primarily included bank acceptance bill deposits of CNY 25.59 million[50] Analysis of Investment Status During the reporting period, the company's investment amounted to CNY 216 million, a 7.74% year-on-year decrease, with total raised funds of CNY 719 million, of which CNY 239 million has been invested in projects like Anhui Sharetronic IoT smart terminal and storage expansion, Dongguan Tangxia IoT smart terminal production, Sharetronic Data Smart Factory, Shenzhen R&D Center, and working capital, all currently under construction, while the company engages in foreign exchange hedging to mitigate currency risk, with derivative investments totaling CNY 41.80 million at period-end - Investment amount for the reporting period was CNY 216 million, a year-on-year decrease of 7.74%[50] - Total raised funds were CNY 719 million, with CNY 239 million cumulatively invested, primarily in projects such as Anhui Sharetronic IoT smart terminal and storage device production line expansion, Dongguan Tangxia IoT smart terminal production, Sharetronic Data Smart Factory construction, Shenzhen R&D Center construction, and supplementary working capital[53][54] - All raised fund investment projects are currently under construction and have not yet generated expected benefits[54] - The company conducts foreign exchange hedging to mitigate exchange rate risks, with derivative investments totaling CNY 41.80 million at the end of the reporting period, representing 14.81% of the company's net assets[57] - Hedging operations aim to mitigate exchange rate risks, and the overall risk is controllable[58] Significant Asset and Equity Disposals During the reporting period, the company did not undertake any significant asset or equity disposals - The company did not dispose of significant assets during the reporting period[61] - The company did not dispose of significant equity during the reporting period[62] Analysis of Major Holding and Participating Companies Anhui Sharetronic IoT Technology Co., Ltd., a major holding subsidiary, has a registered capital of CNY 300 million, total assets of CNY 2.18 billion, net assets of CNY 1.441 billion, and achieved H1 revenue of CNY 1.538 billion and net profit of CNY 272 million; the company also established Sharetronic Xingxiang Technology (Shenzhen) Co., Ltd. and SHARETRONIC INC. during the period - Anhui Sharetronic IoT Technology Co., Ltd. achieved revenue of CNY 1.538 billion and net profit attributable to parent company of CNY 272 million in H1[63] - During the reporting period, the company invested in and established two subsidiaries, Sharetronic Xingxiang Technology (Shenzhen) Co., Ltd. and SHARETRONIC INC., which had a minor impact on overall production, operations, and performance[62] Risks Faced by the Company and Countermeasures The company faces multiple risks including product R&D, macroeconomic changes, global operations, talent management, and cloud platform data security, which it addresses by increasing R&D, optimizing supply chains, enhancing core competitiveness, adapting organizational structures, improving systems, strengthening talent development and incentives, and bolstering system security and information protection - Product R&D risk: The industry is rapidly evolving, requiring continuous innovation to maintain competitiveness. Countermeasures: Increase R&D investment, strengthen research in core technologies such as artificial intelligence, video cloud, and machine vision[65] - Macroeconomic environment change risk: Global economic uncertainty may affect the consumer electronics industry and the company's performance. Countermeasures: Closely monitor economic trends, accelerate R&D innovation, optimize the supply chain, improve operational efficiency, and strategically deploy product matrices across various price segments[65] - Globalization operation risk: Operating in multiple countries, the company faces challenges from language, culture, political, economic system differences, and geopolitical uncertainties. Countermeasures: Adjust marketing resource allocation based on business opportunities and comply with local laws and regulations[65] - Management organization and talent development risk: The industry is knowledge and technology-intensive, posing challenges to organizational structure, operational management, and talent reserves. Countermeasures: Explore organizational structures adaptable to multi-category global operations, improve systems and processes, implement talent梯队建设, and establish competitive compensation and stock option incentive mechanisms[66] - Cloud platform service data security and user information protection risk: The open IoT environment increases data leakage risks, and uncontrollable factors may lead to system failures. Countermeasures: Strengthen system security and information protection efforts, and respond promptly and effectively to data compliance legal risks[66][67] Registration Form for Investor Relations Activities During the Reporting Period During the reporting period, the company hosted 8 investor relations activities, including on-site visits and online discussions with institutional investors, individual investors, and all participants of online performance briefings, primarily discussing company operations and future outlook - A total of 8 investor relations activities were hosted during the reporting period, including on-site visits and online discussions[68][69] - The discussions primarily focused on the company's operating performance and future outlook[68][69] Implementation of 'Quality and Return Enhancement' Action Plan The company did not disclose an announcement regarding the 'Quality and Return Enhancement' action plan - The company did not disclose an announcement regarding the 'Quality and Return Enhancement' action plan[70] Section IV Corporate Governance Information on Annual and Extraordinary General Meetings During the Reporting Period During the reporting period, the company held its 2023 Annual General Meeting on April 15, 2024, with 46.53% investor participation, and resolutions were disclosed on Juchao Information Network - The 2023 Annual General Meeting was held on April 15, 2024, with investor participation at 46.53%[71] Changes in Directors, Supervisors, and Senior Management During the reporting period, there were no changes in the company's directors, supervisors, or senior management - The company's directors, supervisors, and senior management did not change during the reporting period[72] Profit Distribution and Capital Reserve Conversion to Share Capital During the Reporting Period The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the semi-annual period - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital for the semi-annual period[73] Implementation of Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures The first vesting period of the company's 2023 restricted stock incentive plan has met its conditions, with 1.4541 million restricted shares vested for 100 grantees, and the grant price adjusted due to equity distribution; the reserved portion's grant date and price have also been determined, with vesting registration completed on June 18, 2024, and shares listed on June 24, 2024 - The first vesting period of the 2023 restricted stock incentive plan has met its conditions, with 1.4541 million shares of restricted stock vested for 100 grantees[73] - Due to the 2022 equity distribution, the grant price for the 2023 restricted stock incentive plan was adjusted from CNY 19.35/share to CNY 19.29/share[73] - The reserved grant date was set as April 15, 2024, with 1.235 million shares of restricted stock granted to 18 grantees at CNY 19.29/share[175][421] - Due to the 2023 equity distribution, the grant price was again adjusted to CNY 19.178/share[74][421] - The vesting registration for the first vesting period of the initial grant was completed on June 18, 2024, and the shares were listed for trading on June 24, 2024[74] Section V Environmental and Social Responsibility Significant Environmental Issues The company and its subsidiaries are not classified as key polluting entities by environmental protection authorities - The company and its subsidiaries are not classified as key polluting entities by environmental protection authorities[76] Social Responsibility The company adheres to sustainable development, implementing clear environmental policies, increasing eco-investments, promoting energy saving, resource recycling, and renewable materials, while strictly complying with environmental regulations; it also prioritizes employee rights, fair recruitment, career development, competitive compensation, equity incentives, and occupational health and safety, actively supporting university graduate employment through recruitment and internships - The company formulates clear environmental policies, increases environmental protection investment, implements energy-saving and emission-reduction measures, promotes resource recycling and the use of renewable materials, and strictly complies with environmental regulations[76] - The company adheres to fair recruitment, provides career development opportunities, establishes a scientific compensation and benefits system, and implements equity incentive plans[76] - The company highly values employee occupational safety and health, providing a safe and comfortable working environment and regular health check-ups[76] - The company actively participates in campus recruitment, offering employment positions and internship opportunities to university students, along with comprehensive training and career development paths[77] Section VI Significant Matters Commitments Fulfilled and Overdue Unfulfilled by Controlling Shareholder, Shareholders, Related Parties, Acquirers, and the Company During and as of the End of the Reporting Period During the reporting period, there were no commitments by the actual controller, shareholders, related parties, acquirers, or the company that were either fulfilled or overdue and unfulfilled as of the end of the period - The company's reporting period showed no overdue unfulfilled commitments by related parties[78] Non-Operating Funds Occupied by Controlling Shareholder and Other Related Parties from the Listed Company During the reporting period, there were no instances of non-operating funds being occupied by the controlling shareholder or other related parties from the listed company - The company's reporting period showed no non-operating funds occupied by controlling shareholders or other related parties[79] Irregular External Guarantees During the reporting period, the company had no irregular external guarantees - The company had no irregular external guarantees during the reporting period[80] Appointment and Dismissal of Accounting Firms The company's semi-annual financial report is unaudited - The company's semi-annual financial report is unaudited[119] Board of Directors' and Supervisory Board's Explanation on 'Non-Standard Audit Report' for the Current Period Not applicable, as the company's semi-annual report is unaudited - Not applicable[81] Board of Directors' Explanation on 'Non-Standard Audit Report' for the Previous Year Not applicable, as the company's semi-annual report is unaudited - Not applicable[81] Bankruptcy and Reorganization Matters During the reporting period, the company did not undergo any bankruptcy or reorganization matters - The company did not undergo any bankruptcy or reorganization matters during the reporting period[81] Litigation Matters During the reporting period, the company had no significant litigation or arbitration matters; three other minor litigation cases totaled approximately CNY 4.78 million, not resulting in a provision for liabilities - The company had no significant litigation or arbitration matters during this reporting period[82] - Other litigation matters totaled 3 cases, with cumulative disputed amounts of approximately CNY 4.78 million, and no provisions for liabilities were formed[82] Penalties and Rectification During the reporting period, the company had no penalties or rectification situations - The company had no penalties or rectification situations during the reporting period[84] Integrity Status of the Company, its Controlling Shareholder, and Actual Controller Not applicable - Not applicable[85] Significant Related Party Transactions During the reporting period, the company engaged in ordinary related party transactions for goods, services, and labor, including leasing from Dongguan Hanyang Computer Co., Ltd., selling IoT smart terminals to Foxlink International Inc., and procuring chip packaging services from Shenzhen Chipsea Microelectronics Co., Ltd., all priced at market rates and within approved limits - Related party transactions for purchasing goods/receiving services totaled CNY 19.29 million, primarily including electricity, water, and other fees from Dongguan Hanyang Computer Co., Ltd., and services from Shenzhen Chipsea Microelectronics Co., Ltd[409][410] - Related party transactions for selling goods/providing services totaled CNY 0.51 million, primarily including sales of goods to Foxlink International Inc[411] - All related party transactions were priced at market rates and did not exceed approved limits[85][86][87] Significant Contracts and Their Performance During the reporting period, the company had no trusteeship or contracting arrangements; Shenzhen Futian offices, Anhui Sharetronic Industrial Park, and Sharetronic Thailand land are owned, with other offices and dormitories leased, and no lease projects impacting over 10% of total profit; the company provided several joint liability guarantees to subsidiaries, with a total outstanding guarantee balance of CNY 102 million at period-end, representing 36.20% of net assets, and no significant operating contracts or asset/equity disposals occurred - The company had no trusteeship or contracting arrangements during the reporting period[94][95] - The company owns properties/land in Shenzhen Futian, Anhui Sharetronic Industrial Park, and Sharetronic Thailand, with other offices and dormitories leased, and no lease projects impacting over 10% of total profit[96] - The company provided multiple joint liability guarantees to its subsidiaries, Sharetronic Hong Kong and Anhui Sharetronic, with a total outstanding guarantee balance of CNY 102 million at period-end[97][98] - The outstanding guarantee balance at period-end accounted for 36.20% of the company's net assets[98] - The company had no significant operating contracts or significant asset and equity disposals during the reporting period[101] Explanation of Other Significant Matters Controlling shareholder Sharetronic Smart Technology Co., Ltd. reduced its stake by 1% and voluntarily committed not to further reduce shares for six months; Foxlink Electronics (Tianjin) Co., Ltd., a concerted party of a 5%+ shareholder, completed a CNY 50.06 million share increase; and specific shareholder Anhui Gaoxin Jintong Anyi Phase II Venture Capital Fund (Limited Partnership) completed its share reduction and no longer holds company shares - Controlling shareholder Sharetronic Smart Technology Co., Ltd. reduced its stake by 1% and voluntarily committed not to further reduce shares within six months[102] - Foxlink Electronics (Tianjin) Co., Ltd., a concerted party of a shareholder holding over 5% of shares, completed a share increase of CNY 50.06 million[104] - Specific shareholder Anhui Gaoxin Jintong Anyi Phase II Venture Capital Fund (Limited Partnership) completed its share reduction and no longer holds company shares[105] Significant Matters of Company Subsidiaries Wholly-owned subsidiary Sharetronic Singapore established Sharetronic Inc. in the US; the company acquired 51% equity in Metabase (Beijing) Technology Co., Ltd.; and plans to invest CNY 368 million through its indirectly wholly-owned subsidiary Sharetronic Thailand to build a production base in Thailand - Wholly-owned subsidiary Sharetronic Singapore established a wholly-owned subsidiary, Sharetronic Inc., in the United States[106] - The company acquired 51% equity in Metabase (Beijing) Technology Co., Ltd. through an equity purchase, making it a controlling subsidiary[106] - The company plans to invest CNY 368 million through its indirectly wholly-owned subsidiary, Sharetronic Thailand, to construct a production base in Thailand[106] Section VII Share Changes and Shareholder Information Share Changes During the reporting period, 1.4541 million restricted shares from the first vesting period of the 2023 incentive plan were listed on June 24, 2024, with 695,300 shares locked after executive exercise, increasing total shares from 243.8 million to 245.3 million Share Changes for H1 2024 | Share Class | Quantity Before Change (Shares) | Percentage | Change (+,-) Other (Shares) | Quantity After Change (Shares) | Percentage | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 0 | 0.00% | 695,250 | 695,250 | 0.28% | | Of which: Domestic Natural Person Holdings | 0 | 0.00% | 695,250 | 695,250 | 0.28% | | II. Unrestricted Shares | 243,801,046 | 100.00% | 758,850 | 244,559,896 | 99.72% | | Of which: RMB Ordinary Shares | 243,801,046 | 100.00% | 758,850 | 244,559,896 | 99.72% | | III. Total Shares | 243,801,046 | 100.00% | 1,454,100 | 245,255,146 | 100.00% | - Share changes primarily resulted from the vesting of 1.4541 million shares from the first vesting period of the 2023 restricted stock incentive plan, which were listed for trading on June 24, 2024[108] - 695,300 shares were locked after executives exercised their rights[108] Restricted Share Changes During the reporting period, the company added 695,300 restricted shares, all executive lock-up shares for individuals like Pan Wenjun, Yi Zhou, Chen Liping, Gan Xing, Wu Chunlan, Chen Yawei, and Qu Yaneng, with a restriction that no more than 25% of their total holdings can be transferred annually during their tenure Restricted Share Changes for H1 2024 | Shareholder Name | Beginning Restricted Shares (Shares) | Increased Restricted Shares This Period (Shares) | Period-End Restricted Shares (Shares) | Restriction Reason | | :--- | :--- | :--- | :--- | :--- | | Pan Wenjun | 0 | 303,750 | 303,750 | Executive Lock-up Shares | | Yi Zhou | 0 | 202,500 | 202,500 | Executive Lock-up Shares | | Chen Liping | 0 | 67,500 | 67,500 | Executive Lock-up Shares | | Gan Xing | 0 | 40,500 | 40,500 | Executive Lock-up Shares | | Wu Chunlan | 0 | 40,500 | 40,500 | Executive Lock-up Shares | | Chen Yawei | 0 | 22,500 | 22,500 | Executive Lock-up Shares | | Qu Yaneng | 0 | 18,000 | 18,000 | Executive Lock-up Shares | | Total | 0 | 695,250 | 695,250 | | - The restriction reason is executive lock-up shares, where no more than 25% of the total shares held by executives can be transferred annually during their tenure[110] Securities Issuance and Listing On June 24, 2024, 1.4541 million A-shares from the first vesting period of the 2023 restricted stock incentive plan were listed at an issue price of CNY 19.178 per share - 1.4541 million shares of RMB ordinary A-shares from the first vesting period of the 2023 restricted stock incentive plan were listed for trading on June 24, 2024[111] - The issue price was CNY 19.178/share[111] Shareholder Numbers and Shareholding Structure At period-end, there were 18,495 common shareholders; among the top ten, Sharetronic Smart Technology Co., Ltd. held 23.47% and POWER CHANNEL LIMITED held 16.79%, with Ning Chen and Tan Yuexin holding some shares through margin trading and securities lending - Total common shareholders at period-end: 18,495 households[112] Top Ten Shareholders' Shareholding as of the End of the Reporting Period | Shareholder Name | Shareholder Nature | Shareholding Percentage | Period-End Shareholding (Shares) | Change During Period (Shares) | Unrestricted Shares Held (Shares) | | :--- | :--- | :--- | :--- | :--- | :--- | | Sharetronic Smart Technology Co., Ltd. | Domestic Non-State-Owned Legal Person | 23.47% | 57,555,021 | -6,764,020 | 57,555,021 | | POWER CHANNEL LIMITED | Overseas Legal Person | 16.79% | 41,181,000 | 0 | 41,181,000 | | Ning Chen | Domestic Natural Person | 2.79% | 6,853,159 | 6,622,459 | 6,853,159 | | Hong Kong Securities Clearing Company Limited | Overseas Legal Person | 1.28% | 3,150,977 | -3,102,353 | 3,150,977 | | Tan Yuexin | Domestic Natural Person | 0.94% | 2,301,300 | 2,159,800 | 2,301,300 | | China Merchants Bank Co., Ltd. - GF Electronic Information Media Industry Selected Stock Initiated Securities Investment Fund | Other | 0.90% | 2,206,700 | 1,809,300 | 2,206,700 | | Taikang Life Insurance Co., Ltd. - Investment-Linked - Industry Allocation | Other | 0.87% | 2,144,800 | -477,900 | 2,144,800 | | Shanghai Pudong Development Bank Co., Ltd. - Debon Semiconductor Industry Mixed Initiated Securities Investment Fund | Other | 0.86% | 2,100,056 | 1,198,739 | 2,100,056 | | Shanghai Juming Investment Management Co., Ltd. - Juming Jiangchuan No. 6 Private Securities Investment Fund | Other | 0.66% | 1,627,200 | -298,600 | 1,627,200 | | Xie Liang | Domestic Natural Person | 0.65% | 1,600,866 | 1,499,366 | 1,600,866 | - Shareholders Ning Chen and Tan Yuexin hold company shares through both ordinary securities accounts and margin trading and securities lending accounts[114] Cumulative Pledged Shares of Controlling Shareholder or Largest Shareholder and Their Concerted Parties Reaching 80% of Their Holdings During the reporting period, the cumulative pledged shares of the company's controlling shareholder or largest shareholder and their concerted parties did not reach 80% of their total holdings - The company's controlling shareholder or largest shareholder and their concerted parties' cumulative pledged shares did not reach 80% of their total holdings during the reporting period[115] Changes in Shareholdings of Directors, Supervisors, and Senior Management During the reporting period, shareholdings of directors, supervisors, and senior management remained unchanged, but the number of restricted shares granted increased by a total of 927,000 shares Changes in Shareholdings of Directors, Supervisors, and Senior Management for H1 2024 | Name | Position | Beginning Shareholding (Shares) | Increased Shares This Period (Shares) | Decreased Shares This Period (Shares) | Period-End Shareholding (Shares) | Restricted Shares Granted at Period-End (Shares) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Pan Wenjun | Director, General Manager | 0 | 0 | 0 | 0 | 405,000 | | Yi Zhou | Deputy General Manager | 0 | 0 | 0 | 0 | 270,000 | | Chen Liping | Deputy General Manager | 0 | 0 | 0 | 0 | 90,000 | | Gan Xing | Deputy General Manager, Board Secretary | 0 | 0 | 0 | 0 | 54,000 | | Wu Chunlan | Deputy General Manager | 0 | 0 | 0 | 0 | 54,000 | | Chen Yawei | Director | 0 | 0 | 0 | 0 | 30,000 | | Qu Yaneng | Chief Financial Officer | 0 | 0 | 0 | 0 | 24,000 | | Total | | 0 | 0 | 0 | 0 | 927,000 | Changes in Controlling Shareholder or Actual Controller During the reporting period, there were no changes in the company's controlling shareholder or actual controller - The company's controlling shareholder did not change during the reporting period[116] - The company's actual controller did not change during the reporting period[116] Section VIII Preferred Shares Information Preferred Shares Information During the reporting period, the company had no preferred shares - The company had no preferred shares during the reporting period[117] Section IX Bond Information Bond Information During the reporting period, the company had no bonds - The company had no bonds during the reporting period[118] Section X Financial Report Audit Report The company's semi-annual financial report is unaudited - The company's semi-annual financial report is unaudited[119] Financial Statements This section presents the company's H1 2024 consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity, detailing period-end, beginning-of-period, current period, and prior period amounts, reflecting financial position, operating results, and cash flows - As of June 30, 2024, the company's consolidated total assets were CNY 5.933 billion, total liabilities CNY 3.101 billion, and owners' equity CNY 2.832 billion[122] - In H1 2024, the company's consolidated total operating revenue was CNY 3.578 billion, net profit CNY 357 million, and net profit attributable to parent company shareholders CNY 358 million[128] - In H1 2024, the company's consolidated net cash flow from operating activities was -CNY 283 million, net cash flow from investing activities -CNY 97 million, and net cash flow from financing activities CNY 687 million[133] Consolidated Balance Sheet As of June 30, 2024, consolidated total assets were CNY 5.933 billion, with current assets at CNY 5.056 billion and non-current assets at CNY 876 million; total liabilities were CNY 3.101 billion, with current liabilities at CNY 2.948 billion and non-current liabilities at CNY 153 million; total owners' equity was CNY 2.832 billion, with equity attributable to parent company owners at CNY 2.823 billion Key Data from Consolidated Balance Sheet as of June 30, 2024 | Item | Period-End Balance (CNY) | Beginning Balance (CNY) | | :--- | :--- | :--- | | Total Assets | 5,932,884,059.34 | 5,106,002,002.18 | | Total Current Assets | 5,056,384,513.25 | 4,366,986,980.04 | | Total Non-Current Assets | 876,499,546.09 | 739,015,022.14 | | Total Liabilities | 3,100,613,416.80 | 2,675,061,625.44 | | Total Current Liabilities | 2,947,886,349.82 | 2,574,643,786.47 | | Total Non-Current Liabilities | 152,727,066.98 | 100,417,838.97 | | Total Owners' Equity | 2,832,270,642.54 | 2,430,940,376.74 | | Total Owners' Equity Attributable to Parent Company | 2,822,831,319.43 | 2,425,134,180.03 | Parent Company Balance Sheet As of June 30, 2024, parent company total assets were CNY 4.630 billion, with current assets at CNY 3.405 billion and non-current assets at CNY 1.225 billion; total liabilities were CNY 2.635 billion, with current liabilities at CNY 2.538 billion and non-current liabilities at CNY 97 million; total owners' equity was CNY 1.995 billion Key Data from Parent Company Balance Sheet as of June 30, 2024 | Item | Period-End Balance (CNY) | Beginning Balance (CNY) | | :--- | :--- | :--- | | Total Assets | 4,629,988,726.66 | 4,343,513,038.69 | | Total Current Assets | 3,404,802,913.57 | 3,204,556,224.66 | | Total Non-Current Assets | 1,225,185,813.09 | 1,138,956,814.03 | | Total Liabilities | 2,634,796,923.29 | 2,457,405,450.75 | | Total Current Liabilities | 2,537,990,260.00 | 2,420,554,645.56 | | Total Non-Current Liabilities | 96,806,663.29 | 36,850,805.19 | | Total Owners' Equity | 1,995,191,803.37 | 1,886,107,587.94 | Consolidated Income Statement In H1 2024, consolidated total operating revenue was CNY 3.578 billion, up 94.51%; total operating costs were CNY 3.116 billion; net profit was CNY 357 million, net profit attributable to parent company shareholders was CNY 358 million, and basic earnings per share were CNY 1.47 Key Data from Consolidated Income Statement for H1 2024 | Item | H1 2024 (CNY) | H1 2023 (CNY) | | :--- | :--- | :--- | | Total Operating Revenue | 3,578,049,798.15 | 1,839,517,640.63 | | Total Operating Costs | 3,115,875,445.93 | 1,693,939,077.04 | | Total Profit | 408,471,389.57 | 123,188,415.22 | | Net Profit | 357,183,254.49 | 112,046,403.80 | | Net Profit Attributable to Parent Company Shareholders | 357,780,204.86 | 113,014,448.22 | | Basic Earnings Per Share | 1.47 | 0.50 | | Diluted Earnings Per Share | 1.47 | 0.50 | Parent Company Income Statement In H1 2024, parent company operating revenue was CNY 1.780 billion, with a net profit of CNY 69 million Key Data from Parent Company Income Statement for H1 2024 | Item | H1 2024 (CNY) | H1 2023 (CNY) | | :--- | :--- | :--- | | Operating Revenue | 1,780,150,799.17 | 1,210,754,595.44 | | Total Profit | 74,091,663.00 | 89,300,026.44 | | Net Profit | 69,109,111.68 | 80,584,047.42 | Consolidated Cash Flow Statement In H1 2024, consolidated operating cash inflow was CNY 3.784 billion, outflow CNY 4.067 billion, resulting in a net outflow of CNY 283 million; investing cash inflow was CNY 119 million, outflow CNY 216 million, resulting in a net outflow of CNY 97 million; financing cash inflow was CNY 1.135 billion, outflow CNY 448 million, resulting in a net inflow of CNY 687 million; and net increase in cash and cash equivalents was CNY 325 million Key Data from Consolidated Cash Flow Statement for H1 2024 | Item | H1 2024 (CNY) | H1 2023 (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -282,636,844.33 | 122,377,206.19 | | Net Cash Flow from Investing Activities | -96,569,754.61 | -230,424,020.14 | | Net Cash Flow from Financing Activities | 687,057,689.78 | 729,501,539.16 | | Net Increase in Cash and Cash Equivalents | 325,490,608.85 | 627,586,297.82 | | Period-End Cash and Cash Equivalents Balance | 1,618,518,593.94 | 1,150,405,624.67 | Parent Company Cash Flow Statement In H1 2024, parent company net operating cash flow was negative CNY 203 million, net investing cash flow negative CNY 148 million, net financing cash flow CNY 571 million, and net increase in cash and cash equivalents was CNY 223 million Key Data from Parent Company Cash Flow Statement for H1 2024 | Item | H1 2024 (CNY) | H1 2023 (CNY) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -203,298,202.49 | -150,027,896.95 | | Net Cash Flow from Investing Activities | -147,805,345.81 | -170,827,454.67 | | Net Cash Flow from Financing Activities | 571,298,860.64 | 806,827,935.11 | | Net Increase in Cash and Cash Equivalents | 223,204,527.29 | 487,827,056.05 | | Period-End Cash and Cash Equivalents Balance | 1,022,327,578.53 | 714,032,394.65 | Consolidated Statement of Changes in Owners' Equity In H1 2024, consolidated owners' equity increased by CNY 401 million to CNY 2.832 billion, primarily due to a CNY 358 million increase in net profit attributable to parent company shareholders and a CNY 71.5 million increase from owners' contributions and capital reductions Consolidated Statement of Changes in Owners' Equity for H1 2024 | Item | Beginning Balance (CNY) | Change This Period (CNY) | Period-End Balance (CNY) | | :--- | :--- | :--- | | Share Capital | 243,801,046.00 | 1,454,100.00 | 245,255,146.00 | | Capital Reserve | 1,335,966,244.93 | 65,826,720.90 | 1,401,792,965.83 | | Other Comprehensive Income | 6,853,046.33 | -58,169.21 | 6,794,877.12 | | Retained Earnings | 803,932,507.96 | 330,474,487.71 | 1,134,406,995.67 | | Total Owners' Equity Attributable to Parent Company | 2,425,134,180.03 | 397,697,139.40 | 2,822,831,319.43 | | Minority Interests | 5,806,196.71 | 3,633,126.40 | 9,439,323.11 | | Total Owners' Equity | 2,430,940,376.74 | 401,330,265.80 | 2,832,270,642.54 | Parent Company Statement of Changes in Owners' Equity In H1 2024, parent company owners' equity increased by CNY 109 million to CNY 1.995 billion, primarily due to a CNY 69 million increase in net profit and a CNY 67 million increase from owners' contributions and capital reductions Parent Company Statement of Changes in Owners' Equity for H1 2024 | Item | Beginning Balance (CNY) | Change This Period (CNY) | Period-End Balance (CNY) | | :--- | :--- | :--- | | Share Capital | 243,801,046.00 | 1,454,100.00 | 245,255,146.00 | | Capital Reserve | 1,335,908,190.45 | 65,826,720.90 | 1,401,734,911.35 | | Retained Earnings | 271,817,016.68 | 41,803,394.53 | 313,620,411.21 | | Total Owners' Equity | 1,886,107,587.94 | 109,084,215.43 | 1,995,191,803.37 | Company Basic Information Sharetronic Data Technology Co., Ltd. has a registered capital of CNY 245 million, with Geng Kangming as legal representative, and a broad business scope including manufacturing and sales of home appliances, IoT devices, communication equipment, computer software/hardware, data processing, cloud computing, smart home, smart vehicle, and medical device sales; headquartered in Shenzhen Futian District, the financial report was approved on August 23, 2024, and 17 subsidiaries were included in the consolidation scope this period - The company's registered capital is CNY 245,255,146.00[150] - The company's legal representative: Geng Kangming[151] - The business scope is extensive, covering manufacturing and sales of household appliances, IoT devices, communication equipment, computer software and hardware, as well as data processing and storage sup