富士达(835640) - 2024 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2024 was approximately ¥378.59 million, a decrease of 19.17% compared to ¥468.37 million in the same period last year[17]. - The net profit attributable to shareholders of the listed company was approximately ¥33.64 million, down 62.70% from ¥90.21 million year-on-year[17]. - The gross profit margin decreased to 34.09% from 42.18% in the previous year[17]. - Operating revenue decreased by 19.17% this period, while it increased by 18.65% in the same period last year[21]. - Net profit decreased by 57.38%, contrasting with a 17.92% increase in the previous year[21]. - The company's total assets at the end of the reporting period were 1.37 billion yuan, a decrease of 8.43 million yuan or 0.61% from the beginning of the period[28]. - The company's total liabilities at the end of the reporting period were 488.82 million yuan, an increase of 3.66 million yuan or 0.75% from the beginning of the period[28]. - The company's total comprehensive income for the first half of 2024 is CNY 34,130,630.30, a decrease from CNY 91,959,835.23 in the first half of 2023, representing a decline of approximately 63.0%[84]. Research and Development - The company obtained 6 invention patents in the first half of 2024, enhancing its innovation capabilities[2]. - Research and development investment during the reporting period was 42.93 million yuan, with significant progress in multiple key projects including multi-functional connectors and low-cost interconnects[29]. - The company is enhancing its R&D efforts in 5G-A and 6G technologies to strengthen its competitive advantage in the communication sector[32]. - Research and development expenses increased to CNY 42,927,052.37 in the first half of 2024, up from CNY 31,407,923.71, indicating a focus on innovation[81]. Market and Industry Trends - The global connector market size increased from $48.9 billion in 2011 to $81.9 billion in 2023, with a compound annual growth rate (CAGR) of 4.39%[30]. - China's connector market size reached approximately $25 billion in 2023, accounting for about 30.51% of the global market share[30]. - The 5G connector market in China is projected to grow from $6.267 billion in 2019 to $9.5 billion by 2025, driven by the acceleration of 5G infrastructure development[32]. - The number of satellite launches in China is projected to increase to around 100 in 2024, up from 67 in 2023, driven by both national strategic needs and the booming commercial space market[31]. Financial Position - The total assets at the end of the reporting period were approximately ¥1.37 billion, a slight decrease of 0.61% from ¥1.38 billion at the end of the previous year[18]. - The total liabilities increased by 0.75% to approximately ¥488.82 million from ¥485.16 million year-on-year[18]. - Cash and cash equivalents decreased by 29.07% to 164.83 million, accounting for 12.05% of total assets[34]. - Accounts receivable increased by 27.13% to 558.16 million, representing 40.82% of total assets[34]. - Inventory rose by 5.83% to 130.44 million, making up 9.54% of total assets[34]. Customer and Sales Concentration - The company's sales to its top five customers accounted for 76.15% of total revenue, indicating a high customer concentration risk[51]. - The company is actively expanding its product range and accelerating the promotion of new products to reduce the risk associated with high customer concentration[52]. Legal and Compliance - Fujita faced a legal ruling in the U.S. requiring compensation of $76.8779 million, but a Chinese court has deemed the underlying agreement invalid, reducing the risk of enforcement in China[53]. - The company has ongoing legal risk management measures in place to address potential future enforcement of the U.S. ruling if assets are acquired in the U.S.[53]. - The company has not undergone any changes in controlling shareholders or actual controllers during the reporting period[62]. Shareholder Information - The largest shareholder, AVIC Optoelectronics Technology Co., Ltd., holds 87,551,776 shares, representing 46.64% of the total shares[60]. - The total number of ordinary shares is 187,728,000, with 94.24% being unrestricted shares[59]. - The company distributed a total of CNY 62,933,400.00 to shareholders during the current period[93]. Employee and Management - The company employed a total of 1,299 employees at the end of the reporting period, with a net decrease of 2 employees[71]. - The number of technical staff increased from 286 to 289, while production staff rose from 731 to 737[71]. - The company appointed new independent director Liu Zicheng and board member Zhao Zhenzhen during the reporting period[69]. Cash Flow and Financing - The company's cash flow from operating activities was a net inflow of 14.70 million yuan, an increase of 30.87 million yuan or 190.85% year-on-year[28]. - Cash inflow from operating activities for the parent company was CNY 280,817,857.88, down from CNY 327,297,396.70, a decline of 14.14%[87]. - Cash outflow for purchasing goods and services decreased to CNY 129,055,809.35 from CNY 215,333,326.12, a reduction of 40.14%[85]. Accounting Policies - The company uses the accrual basis of accounting, with historical cost as the measurement basis for its financial statements[113]. - The company recognizes revenue when control of the goods or services is transferred to the customer, in accordance with the performance obligations outlined in contracts[115]. - The company assesses impairment of fixed assets and investment properties according to relevant accounting standards[177].