TRUCHUM(SZ:002171)2024-08-27 10:37Financial Performance - The company reported a revenue of ¥24,818,864,639.54 for the current period, representing a 15.06% increase compared to ¥21,570,941,920.85 in the same period last year[12]. - Net profit attributable to shareholders was ¥168,601,908.91, a decrease of 20.93% from ¥213,234,042.70 in the previous year[12]. - The net profit after deducting non-recurring gains and losses was ¥114,003,210.42, down 26.08% from ¥154,232,664.98 in the same period last year[12]. - The net cash flow from operating activities was -¥1,489,453,507.72, a decline of 76.67% compared to -¥843,047,861.38 in the previous year[12]. - Total assets at the end of the reporting period were ¥19,732,600,305.82, an increase of 17.96% from ¥16,727,972,334.86 at the end of the previous year[12]. - The company's operating revenue for the current period reached ¥24,818,864,639.54, representing a year-on-year increase of 15.06% compared to ¥21,570,941,920.85 in the same period last year[46]. - The operating cost increased to ¥23,975,115,581.88, reflecting a year-on-year growth of 15.46% from ¥20,765,140,606.06[46]. - The company reported a total investment income of ¥14,592,899.55, contributing 6.67% to the total profit[50]. - Other income increased significantly by 166.76% to ¥364,722,613.83, primarily from government subsidies[51]. - The company experienced a 25.86% reduction in income tax expenses, which amounted to ¥19,325,849.32, down from ¥26,065,815.37 in the previous year[47]. Dividend Distribution - The company plans to distribute a cash dividend of 0.7 RMB per 10 shares (including tax) to all shareholders[3]. - The company does not plan to convert reserves into share capital during the dividend distribution[3]. - The company reported a cash dividend of 0.7 yuan per 10 shares (including tax), with a total cash dividend amounting to 90,602,397.13 yuan, representing 59.49% of the distributable profit[97][98]. - The total share capital for the dividend distribution is calculated based on 1,294,319,959 shares after excluding 29,926,306 shares held in the repurchase account[98]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report[2]. - The report includes a detailed section on risks and countermeasures faced by the company[2]. - The company has established a comprehensive risk control system to manage market, liquidity, credit, operational, and legal risks associated with derivative investments[63]. - The company has not engaged in speculative derivative investments during the reporting period[65]. - The company aims to mitigate raw material price fluctuation risks by implementing a sales-driven production strategy and increasing the proportion of long-term orders from strategic customers[89]. - The company faces intense competition in the high-end market as production capacity increases, prompting a focus on optimizing supplier strategies and enhancing product value[90]. - The company is collaborating with research institutions and military units to improve the success rate of high-end product development and mitigate R&D risks[91]. - The company is addressing talent retention risks by creating an attractive career development platform and implementing competitive compensation policies[92]. - The company is managing accounts receivable risks by enhancing customer credit management and linking receivables recovery to sales personnel incentives[93]. Research and Development - The company focuses on advanced copper-based materials and military carbon materials, aiming to become a leading manufacturer in the materials sector[16]. - The company has achieved significant R&D results in copper-based materials, with some technologies reaching advanced levels domestically and internationally[18]. - Research and development investment rose by 8.36% to ¥491,505,221.32, up from ¥453,586,323.21 in the previous year[47]. - The company has a strong R&D team with expertise in various fields, including aerospace design and composite materials, enhancing its innovation capabilities[35]. - The company has developed high-performance carbon fiber composite materials, achieving significant breakthroughs in carbon brake preforms for aircraft, marking a new phase in domestic military aircraft assembly[33]. - The company is exploring new technologies with an investment of 17,000 million aimed at sustainability and efficiency improvements[151]. Environmental Compliance - The company adheres to national and industry standards for emissions, ensuring compliance with various environmental regulations[103]. - The company has implemented new emission control technologies to reduce nitrogen oxide emissions to 17.11 tons annually[110]. - The company achieved a pollution control efficiency of 99% for particulate matter during the melting process at Anhui Chuangjiang High-tech Electric Material Co., Ltd[112]. - The company reported no environmental violations or incidents as of August 2023, with all environmental protection facilities operating normally[112]. - The company has established emergency response plans for environmental incidents, with all plans filed with local ecological environment departments[114]. - The company has committed to continuous investment in new environmental protection facilities and monitoring systems[115]. - The company reported a total nitrogen oxide emission of 3.607 tons and a total sulfur dioxide emission of 0.15 tons in the first half of 2024[106]. - Anhui Chujing High Precision Copper Strip Co., Ltd. has no instances of exceeding pollutant discharge standards in the first half of 2024[106]. Corporate Governance - The financial report ensures the accuracy and completeness of the data presented, with all board members present for the meeting[2]. - The company emphasizes shareholder rights protection, ensuring timely and accurate information disclosure to all shareholders, enhancing transparency and trust[124]. - The company has established a comprehensive internal control system to ensure fair treatment of all shareholders and stakeholders[124]. - The company actively engages with suppliers and customers, fostering trust and cooperation to uphold social responsibilities[124]. - The company has implemented an employee stock ownership plan that is expected to enhance employee motivation and operational efficiency, positively impacting long-term financial performance[101]. - The company has a structured compensation mechanism for uncollected receivables, involving cash and share compensation based on performance metrics[127]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share within the next two years[118]. - A strategic acquisition of a local competitor is in progress, which is anticipated to enhance production capacity by 30%[119]. - The company plans to continue focusing on market expansion and new product development to drive future growth[196]. - The company has set a performance guidance for the next quarter, projecting a revenue increase of 10% to 1.32 billion CNY[118]. - The company is implementing a new waste management strategy that is expected to lower operational costs by 10%[118]. Shareholder and Employee Engagement - The company held its first temporary shareholders' meeting on March 15, 2024, with an investor participation rate of 46.41%[95]. - The company appointed a new board secretary on July 18, 2024, following the resignation of the previous secretary due to job changes[96]. - The third employee stock ownership plan was extended for 6 months until September 5, 2024, and again for another 6 months until March 5, 2025, with over 2/3 of the participants agreeing to the extension[100]. - A total of 118 employees participated in the third employee stock ownership plan, holding 1,850,959 shares, which is 0.14% of the company's total equity[99]. - The fourth employee stock ownership plan included 519 employees holding 49,080,000 shares, representing 3.71% of the company's total equity[99]. Financial Instruments and Investments - The company issued 18.30 billion CNY in convertible bonds, with a total of 18.3 million bonds at a face value of 100 CNY each, with a six-year term[159]. - As of June 30, 2024, the remaining amount of convertible bonds is 1.82 billion CNY, with 18,225,225 bonds outstanding[161]. - The conversion price of the convertible bonds has been adjusted from 8.73 CNY/share to 6.17 CNY/share effective August 16, 2024[160]. - The company has committed a total investment of 60,000 million CNY for the high-precision copper alloy project, with 39,915.42 million CNY already invested, achieving a progress rate of 66.53%[68]. - The company has established several R&D platforms, including a provincial engineering center, to maintain its technological leadership in the industry[37]. Legal and Regulatory Compliance - The company has not reported any significant changes in its accounting firm during the reporting period[129]. - The company has not engaged in any violations regarding external guarantees during the reporting period[129]. - The company has not undergone any bankruptcy reorganization during the reporting period[130]. - The company has committed to ensuring compliance with environmental regulations and has outlined specific corrective measures to address any violations[134]. - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[129].