SGEG(SH:601616)2024-08-28 08:29Financial Performance - The company's operating revenue for the first half of 2024 reached ¥435,351,508.63, representing a 12.53% increase compared to ¥386,870,838.95 in the same period last year[10]. - Net profit attributable to shareholders was ¥29,903,749.53, an increase of 88.35% from ¥15,876,758.98 in the previous year[10]. - The net profit after deducting non-recurring gains and losses was ¥25,589,550.38, up 92.91% from ¥13,265,095.83 year-on-year[10]. - The net cash flow from operating activities was ¥30,923,630.58, reflecting a 54.04% increase compared to ¥20,075,499.23 in the same period last year[10]. - Basic earnings per share for the first half of 2024 were ¥0.0350, an increase of 88.17% from ¥0.0186 in the same period last year[11]. - The total profit for the first half of 2024 was ¥41,674,658.51, up from ¥25,481,562.18 in the previous year, representing an increase of about 64%[58]. - The company reported a comprehensive income of RMB 5,474,606.15 for the first half of 2024[68]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,138,467,848.70, a 4.23% increase from ¥3,011,083,419.50 at the end of the previous year[10]. - The net assets attributable to shareholders decreased by 1.15% to ¥2,436,745,869.84 from ¥2,465,099,715.15 at the end of the previous year[10]. - Total liabilities amounted to ¥513,618,784.12, up from ¥387,407,595.89, representing a growth of 32.5%[53]. - Current liabilities increased to ¥494,173,874.58, compared to ¥367,681,077.87, marking a rise of 34.3%[52]. - The total current assets amounted to ¥1,736,966,764.39, a slight decrease of about 1.2% compared to ¥1,758,201,531.70[51]. Cash Flow - The company reported a net decrease in cash and cash equivalents of CNY 571,009,221.36, compared to a decrease of CNY 222,696,672.11 in the first half of 2023[63]. - The ending balance of cash and cash equivalents was CNY 572,869,367.12, down from CNY 880,613,190.70 at the end of the previous year[63]. - Cash inflow from investment activities totaled CNY 175,538,932.88, down 53.2% from CNY 375,162,017.22 year-on-year[63]. Research and Development - Research and development expenses amounted to CNY 22.69 million, up 6.36% compared to the previous year, with 8 patent applications filed[19]. - The company has accumulated nearly 300 industry technology patents and honors, with 8 new patents granted in the first half of 2024[16]. - The company's research and development expenses for the first half of 2024 were ¥5,533,361.64, compared to ¥5,072,100.65 in the same period last year, indicating a year-over-year increase of approximately 9%[59]. Market and Operations - In the first half of 2024, the company's main business includes power distribution and control equipment, with a focus on customized products and services[15]. - The company expanded its market presence in Southeast Asia and North America, resulting in a significant increase in overseas sales orders and product deliveries[19]. - The company’s marketing network covers economically active regions including the Yangtze River Delta, Pearl River Delta, and Beijing-Tianjin-Hebei areas, as well as key cities in central and western China[17]. Governance and Compliance - The company confirmed that it will strictly adhere to laws and regulations regarding related party transactions, ensuring no illegal occupation of the company's funds or assets, as per the commitment made on July 3, 2012[35]. - There were significant management changes, with the resignation of the Chief Financial Officer and Executive Vice President, and the appointment of new executives including two Vice Presidents and a new CFO[30][31]. - The company has not reported any violations or penalties against its directors, supervisors, or senior management during the reporting period, indicating strong governance[38]. Taxation and Grants - The company achieved a corporate income tax rate of 15% after obtaining the Shanghai High-tech Enterprise Certificate, valid for three years starting from December 12, 2023[176]. - The company reported government subsidies of ¥1,102,183.49, which are closely related to its normal business operations[12]. Financial Instruments and Accounting Policies - The company recognizes cash equivalents as short-term, highly liquid investments that are easily convertible to known amounts of cash, with minimal risk of value changes[92]. - The company assesses expected credit losses based on the weighted average of credit losses for financial instruments, considering the risk of default[104]. - The company recognizes impairment losses or gains in the current profit or loss based on changes in expected credit losses[104]. Shareholder Information - The total number of ordinary shareholders reached 44,949 as of the end of the reporting period[45]. - The company completed the cancellation of 81,899,681 shares, reducing its registered capital from CNY 935,575,000 to CNY 853,675,319[45]. - The total number of shares issued by the company is 853,675,319, with a registered capital of RMB 853,675,319[70].