江航装备(688586) - 2024 Q2 - 季度财报

Financial Performance - Revenue for the first half of 2024 was ¥592,855,013.28, a decrease of 6.51% compared to ¥634,141,585.52 in the same period last year[12]. - Net profit attributable to shareholders was ¥104,155,789.87, down 22.20% from ¥133,868,960.60 year-on-year[12]. - Net profit after deducting non-recurring gains and losses was ¥87,776,758.91, a decline of 26.29% compared to ¥119,086,488.84 in the previous year[12]. - The net cash flow from operating activities was -¥119,893,324.15, compared to -¥102,286,797.64 in the same period last year[12]. - Basic earnings per share decreased by 45.83% to CNY 0.13 compared to the same period last year[13]. - Diluted earnings per share also decreased by 45.83% to CNY 0.13 compared to the same period last year[13]. - The weighted average return on equity decreased by 1.42 percentage points to 4.17% compared to the same period last year[13]. - The company reported a total R&D investment of ¥72,734,625.32 for the current period, representing a 14.77% increase compared to ¥63,374,206.39 in the same period last year[32]. - The company reported a significant decrease in investment cash flow, with a net cash flow of ¥14,489,447.74, down 87.39% from ¥114,909,973.26 in the previous year[47]. Assets and Liabilities - Total assets decreased by 2.52% to ¥3,494,563,921.49 from ¥3,584,944,155.52 at the end of the previous year[12]. - Net assets attributable to shareholders at the end of the reporting period were ¥2,480,704,163.90, a slight increase of 0.15% from ¥2,477,052,408.97 at the end of the previous year[12]. - Accounts receivable increased by 60.56% to ¥901,647,678.70, compared to ¥561,573,046.81 at the end of the previous year, indicating a decrease in cash collection[48]. - Total liabilities decreased to ¥1,013,859,757.59 from ¥1,107,891,746.55, a decline of about 8.5%[112]. - The company's equity attributable to the parent company reached 2.481 billion yuan, a year-on-year increase of 0.15%[45]. Research and Development - Research and development expenses accounted for 12.27% of operating revenue, an increase of 2.28 percentage points year-on-year[13]. - The company has accumulated 764 patents and received over 60 national and provincial-level scientific and technological awards[20]. - The company applied for 31 new patents during the reporting period, with 26 patents granted, bringing the cumulative total to 1,388 applications and 775 grants[31]. - The company is currently developing an emergency oxygen supply system for aircraft, which aims to meet the needs of cabin decompression conditions[28]. - The company reported research and development expenses for the first half of 2024 were ¥32,334,630.31, a slight decrease of 1.99% from ¥32,991,761.45 in the previous year[47]. Market Position and Strategy - The company operates in the aerospace equipment and special refrigeration sectors, focusing on oxygen systems and military refrigeration equipment[17]. - The company has successfully expanded its military refrigeration equipment to cover all branches of the armed forces, enhancing its market presence[17]. - The company is positioned as a core component integrator in the aviation manufacturing industry, focusing on aviation life support systems and fuel systems[19]. - The aviation manufacturing industry in China has entered a fast development track, with a complete technical and industrial system established[19]. - The company has established itself as the only domestic R&D and manufacturing base for aviation oxygen systems, covering all military aircraft and some civil aircraft[42]. Environmental and Social Responsibility - The company invested 884,600 RMB in environmental protection during the reporting period, with a 100% compliance rate for hazardous waste disposal[58][59]. - The company successfully passed the environmental management system re-certification in February 2024, demonstrating its commitment to high environmental standards[59]. - The company has established pollution control facilities, including wastewater treatment plants and hazardous waste storage, to manage its environmental impact[60]. - The company has a comprehensive emergency response plan for environmental incidents, which was revised and approved in April 2023[62]. - The company actively engaged in rural revitalization and public welfare activities, including donations to support disadvantaged community members[67]. Corporate Governance and Shareholder Relations - The company has committed to strict compliance with confidentiality laws and regulations to prevent the leakage of state secrets[89]. - The controlling shareholder, AVIC, has committed to not engaging in any business activities that directly or indirectly compete with the main business of Jianghang Equipment[74]. - The company emphasizes shareholder returns and will prioritize cash dividends in its profit distribution policy[71]. - The company will ensure compliance with laws and regulations regarding corporate governance to protect the interests of public shareholders[72]. - The company has a comprehensive plan to manage energy consumption and carbon emissions, promoting a transition to low-carbon development[66]. Financial Management - The company reported a total of 216,500,000 CNY in expected related party transactions for 2024, with actual transactions amounting to 124,439,100 CNY, representing approximately 57.5% of the expected amount[91]. - The company has a maximum daily deposit limit of 1,400,000,000 CNY with its related party, with an interest rate range of 0.205%-3.25%[93]. - The total amount of raised funds is approximately RMB 940.93 million, with RMB 499.89 million utilized by the end of the reporting period, representing a utilization rate of 53.10%[98]. - The company has allocated RMB 122 million for working capital, fully utilized by the end of the reporting period, achieving a 100% utilization rate[99]. - The company has not reported any major contracts or their performance during the reporting period[95].