YAPP(SH:603013)2024-08-27 08:51Financial Performance - As of June 30, 2024, the company's undistributed profits amounted to RMB 1,956,551,050.28, with a distributable profit of RMB 150,785,110.79 for the first half of 2024 [4]. - The company plans to distribute a cash dividend of RMB 0.05 per share, totaling RMB 25,629,963.20, which represents 17.00% of the distributable profit and 9.98% of the net profit attributable to shareholders for the first half of 2024 [4]. - The company's operating revenue for the first half of 2024 was CNY 3,852,343,935.23, a decrease of 2.48% compared to CNY 3,950,240,615.60 in the same period last year [17]. - Net profit attributable to shareholders was CNY 256,715,088.60, reflecting a year-on-year increase of 1.62% from CNY 252,620,566.25 [17]. - Basic earnings per share for the first half of 2024 were CNY 0.50, an increase of 2.04% from CNY 0.49 in the same period last year [18]. - The total revenue for the first half of 2024 reached RMB 345 billion, with a net profit of RMB 92.48 billion [56]. - The net profit for the first half of 2024 was approximately ¥150.79 million, an increase of 5.00% from ¥143.08 million in the first half of 2023 [81]. - The total comprehensive income attributable to the parent company's owners for the first half of 2024 was approximately ¥229.22 million, compared to ¥324.65 million in the same period of 2023, reflecting a decrease of 29.42% [79]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 27.51% to CNY 687,561,515.45, compared to CNY 539,220,083.65 in the previous year [17]. - Cash and cash equivalents at the end of the period amounted to ¥2,100,425,069.69, representing 31.56% of total assets, up from 26.81% last year [33]. - The total cash and cash equivalents at the end of the period reached CNY 2,082,397,254.98, up from CNY 1,518,077,398.86 at the end of the first half of 2023 [82]. - The cash inflow from other operating activities increased significantly to CNY 31,185,653.60, compared to CNY 15,971,171.93 in the first half of 2023, marking a growth of 95.5% [82]. - The company reported a decrease in cash inflow from sales of goods and services to CNY 3,628,222,344.38, down 1.2% from CNY 3,672,988,092.33 in the previous year [82]. Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 6,655,425,010.45, up 3.57% from CNY 6,426,242,838.79 at the end of the previous year [17]. - Total foreign assets are ¥2,540,205,259.28, accounting for 38.17% of total assets [35]. - The total liabilities increased to CNY 1,303,803,672.47 from CNY 1,209,575,856.54, marking an increase of 7.8% [76]. - The total owner's equity at the end of the reporting period is CNY 3,979,072,460.27, showing a positive trend compared to the previous period [86]. - The total amount of loans during the reporting period is RMB 40,308,155.77, with total repayments of RMB 47,310,066.09 [59]. Research and Development - The company's R&D expenditure increased by 14.73% year-on-year, with the number of R&D personnel rising by 10.59% [24]. - The company's research and development expenses for the first half of 2024 were approximately ¥125.23 million, an increase from ¥104.44 million in the same period of 2023 [80]. - The company specializes in the manufacturing of automotive parts, focusing on energy storage systems and thermal management systems [93]. Compliance and Governance - The board of directors has confirmed that there are no non-operating fund occupations by controlling shareholders or related parties [5]. - The report is unaudited, and the board of directors has ensured the authenticity of the financial statements [3]. - The company has not faced any non-compliance issues or penalties related to its directors, supervisors, senior management, or controlling shareholders [55]. - The company has strengthened its compliance management framework by appointing a Chief Compliance Officer and enhancing compliance training, contributing to a robust compliance culture [30]. Market Position and Strategy - The company is a leading player in the domestic fuel system market, ranking first in China and third globally [23]. - The company focuses on the research, development, manufacturing, and sales of energy storage systems and thermal management systems, serving the automotive and energy storage sectors [21]. - The company has established long-term stable relationships with suppliers, ensuring a reliable procurement process based on actual supply needs [22]. - The company is actively seeking mergers and acquisitions that align with its strategic development direction and enhance synergy with its technology and customer base [27]. Environmental and Social Responsibility - The company has implemented various energy-saving measures, including the replacement of low-efficiency motors and the establishment of a smart energy management platform, promoting a transition to a more refined and intelligent energy management model [30]. - The company has engaged in poverty alleviation efforts, procuring assistance materials worth 134,000 yuan during the reporting period [53]. - The company has not faced any environmental penalties and has complied with national ecological and environmental protection laws [50]. Financial Reporting and Accounting Policies - The financial report has been declared accurate and complete by the company's responsible persons, including the accounting supervisor [3]. - The financial statements are prepared based on actual transactions and in accordance with the accounting standards issued by the Ministry of Finance and the China Securities Regulatory Commission [95]. - The group recognizes revenue when control of goods or services is transferred to customers, which is indicated by the customer's ability to use or benefit from the product [161].