WAYS(SH:605218)2024-08-28 08:54Financial Performance - The company's revenue for the first half of 2024 reached ¥889,398,171.95, representing a 36.47% increase compared to ¥651,724,807.41 in the same period last year[16]. - Net profit attributable to shareholders decreased by 47.11% to ¥19,312,566.73 from ¥36,516,094.49 year-on-year[16]. - The net profit after deducting non-recurring gains and losses was ¥16,571,237.66, down 48.50% from ¥32,176,485.35 in the previous year[16]. - Basic earnings per share decreased by 46.62% to ¥0.0916 from ¥0.1716 in the same period last year[17]. - The weighted average return on net assets fell to 1.50%, a decrease of 1.50 percentage points compared to 3.00% in the previous year[17]. - The company reported a net cash flow from operating activities of ¥10,885,626.50, a significant improvement from a negative cash flow of ¥19,484,636.03 in the previous year[16]. - The company's total assets increased by 10.74% to ¥1,971,614,441.98 compared to ¥1,780,320,041.94 at the end of the previous year[16]. - The company's net assets attributable to shareholders decreased slightly by 0.50% to ¥1,263,314,629.92 from ¥1,269,725,441.64 at the end of the previous year[16]. - The company reported a total comprehensive income of ¥19,369,697.11 for the first half of 2024, down from ¥36,293,392.48 in the same period of 2023[95]. Operational Highlights - The company has established a strong customer base and brand influence in the automotive display sector, facilitating ongoing business growth[24]. - The company maintains stable partnerships with major automotive manufacturers including Mercedes-Benz, BMW, and Audi, enhancing its market position[21]. - The company focuses on R&D and production of backlight display modules, primarily serving the automotive and VR sectors[20]. - The company employs a "make-to-order" production model, aligning production with sales demand[22]. - The company has achieved mass production of 35.6-inch and 47.9-inch curved ultra-large vehicle backlight display modules[38]. - Mini LED backlight display modules have received multiple designated orders, with some products expected to enter mass production in the first half of 2024[40]. Research and Development - Research and development expenses amounted to 57.23 million yuan, accounting for 6.44% of sales revenue[36]. - The company has established a strong R&D team with a total of 117 authorized patents and 39 patents pending as of June 30, 2024[36]. - The company focuses on the development of dynamic anti-peeping backlight modules for smart cockpits, with mass production expected in the second half of 2024[36]. - The company has made significant technological advancements in developing Mini LED backlight technology for VR displays, which is expected to meet the high-definition requirements of VR headsets[41]. Financial Position - The company's total liabilities reached CNY 708,299,812.06, up from CNY 510,594,600.30, marking an increase of around 38.8%[89]. - Owner's equity decreased slightly to CNY 1,263,314,629.92 from CNY 1,269,725,441.64, a decline of about 0.5%[89]. - The company's cash and cash equivalents as of June 30, 2024, amount to ¥463,060,267.16, a decrease from ¥513,842,210.50 as of December 31, 2023[87]. - Accounts receivable increased to ¥475,009,954.91 from ¥392,434,115.77, reflecting a growth of approximately 21.0%[87]. - Inventory as of June 30, 2024, is reported at ¥222,139,850.51, up from ¥198,996,453.85, indicating an increase of about 11.6%[87]. Risk Factors - The company has described potential risks in its production and operation processes[4]. - The report includes a forward-looking statement risk declaration, indicating that future plans do not constitute substantial commitments to investors[4]. - The company faces risks from international trade uncertainties, which could indirectly impact sales due to the reliance on global markets[51]. - The company is exposed to technology substitution risks as emerging display technologies could potentially disrupt its market position in the future[52]. - The company has a significant exposure to currency fluctuations, particularly with the USD, which affects both export pricing and exchange gains or losses[54]. Corporate Governance - The financial report has been confirmed as true, accurate, and complete by the company's responsible persons[3]. - The board of directors has fully attended the board meeting[3]. - There are no violations of decision-making procedures regarding external guarantees[4]. - The company has not faced any non-operating fund occupation by controlling shareholders or related parties[4]. - The company has undergone changes in its board of directors and management, with several resignations and new appointments[60]. Environmental and Social Responsibility - The company has invested in environmental protection measures, including achieving ISO14001:2015 certification for its environmental management system[63]. - The company reduced carbon emissions by approximately 399.27 tons through solar power generation during the reporting period[64]. - The company actively provided employment opportunities in the central and western regions of China, contributing to poverty alleviation efforts[65]. - The company is committed to strict adherence to environmental laws and regulations, ensuring clean and stable production processes[63]. Shareholder Information - The company reported no profit distribution or capital reserve transfer to increase share capital during the reporting period[3]. - The company has not disclosed any significant changes in shareholder structure or share capital during the reporting period[6]. - The total number of ordinary shareholders as of the end of the reporting period is 21,207[83]. - The largest shareholder, Watanabe Yoichi, holds 124,576,382 shares, representing 58.53% of total shares[84].