Seashine(SZ:300885)2024-08-27 07:58Financial Performance - The company's operating revenue for the first half of 2024 was CNY 144,898,619.70, representing a 43.38% increase compared to CNY 101,062,293.81 in the same period last year[11]. - Net profit attributable to shareholders of the listed company reached CNY 30,700,192.27, an increase of 86.89% from CNY 16,426,989.47 year-on-year[11]. - The net profit after deducting non-recurring gains and losses was CNY 27,928,554.74, reflecting a significant increase of 126.00% compared to CNY 12,357,553.86 in the previous year[11]. - The net cash flow from operating activities was CNY 34,863,252.68, a remarkable increase of 345.98% from CNY 7,817,167.42 in the same period last year[11]. - Basic earnings per share were CNY 0.1224, up 86.87% from CNY 0.0655 in the previous year[11]. - Operating profit reached ¥36,445,672.49, an increase of 91.09% compared to the same period last year[15]. - The total profit amounted to ¥36,140,840.08, reflecting a growth of 90.59% year-on-year[15]. - The company reported a significant increase in other non-current assets to CNY 4,293,802.34 from CNY 1,734,572.34, marking a growth of about 147.5%[94]. - The company reported a total comprehensive income of CNY 31,002,094.71, compared to CNY 16,792,649.89 in the prior year[104]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 898,723,064.82, a slight increase of 0.10% from CNY 897,807,311.05 at the end of the previous year[11]. - The net assets attributable to shareholders of the listed company were CNY 831,515,783.82, showing a decrease of 0.46% from CNY 835,374,556.37 at the end of the previous year[11]. - Total current assets increased slightly to CNY 715,341,324.58 from CNY 712,639,790.14, reflecting a growth of approximately 0.37%[93]. - Total liabilities increased to CNY 67,207,281.00 from CNY 62,432,754.68, representing an increase of approximately 7.3%[95]. - The company's total liabilities increased to ¥64,440,327.60 from ¥56,766,122.26, reflecting a growth of 13.8%[100]. Research and Development - The company reported R&D expenses of ¥7,229,344.21, an increase of 21.32% compared to the same period last year, supporting innovation efforts[24]. - The company's R&D investment during the reporting period was ¥7,229,344.21, reflecting a 21.32% increase year-on-year[27]. - The company has accumulated a total of 69 patents and has been recognized as a high-tech enterprise in Jiangsu Province, reflecting its strong technical capabilities[26]. Market Expansion and Strategy - The company is actively expanding into new markets such as automotive, robotics, home appliances, and new energy[15]. - The company aims to continuously explore new technologies and materials to maintain its competitive edge in the powder metallurgy industry[26]. - The company plans to invest RMB 24,331.25 million in two projects: a new 4,000-ton high-grade powder metallurgy components project and a powder metallurgy new materials application R&D center[34]. - The company aims to expand into the soft magnetic products market for new energy vehicles and MIM products in 2024[48]. Governance and Compliance - The company has optimized its governance structure and internal controls, effectively managing operational and financial risks while improving capital efficiency[24]. - The company is committed to improving its corporate governance structure in compliance with relevant laws and regulations[60]. - The company has not engaged in any significant related party transactions during the reporting period[72]. Shareholder and Stock Information - The company plans not to distribute cash dividends or issue bonus shares[2]. - The company approved a share repurchase plan on March 6, 2024, with a total repurchase amount between 20 million RMB and 40 million RMB, at a price not exceeding 12.09 RMB per share[81]. - The total number of shares outstanding is 250,800,000, with 32.35% being restricted shares[81]. - The company’s major shareholders, including Chairman Zhou Guangrong and General Manager Xu Jiping, increased their holdings by a total of 1,814,307 RMB, exceeding their commitment of 1,000,000 RMB[77]. Risk Management - The management has outlined potential risks and countermeasures in the report, emphasizing the importance of risk awareness for investors[2]. - The company is closely monitoring foreign exchange trends and has increased the frequency of currency exchanges to mitigate risks associated with USD fluctuations[50]. - Rising labor costs are impacting future profitability, prompting the company to invest in smart manufacturing systems and automation to reduce labor expenses[51]. Environmental and Social Responsibility - The company has implemented a rooftop solar power generation plan, generating 961,900 kWh from January to June 2024 to reduce carbon emissions[59]. - The company has made a total donation of RMB 25 million to society as of the report approval date[63]. - The company has not faced any environmental violations or penalties during the reporting period[59]. Financial Management - The company's financial expenses decreased by 13.48% to -¥5,551,286.75, indicating improved financial management[27]. - The company’s tax expenses for the first half of 2024 were ¥5,440,647.81, compared to ¥2,535,965.68 in the same period of 2023, reflecting a substantial increase[100]. - The company has a 15% corporate income tax rate due to its high-tech enterprise certification, which is valid for three years[177].