Financial Performance - The company's operating revenue for the first half of 2024 was approximately ¥294.94 million, representing a 6.98% increase compared to ¥275.69 million in the same period last year[16]. - The net profit attributable to shareholders of the listed company reached approximately ¥10.66 million, marking a 14.70% increase from ¥9.30 million in the previous year[16]. - The gross profit margin for the reporting period was 15.84%, slightly up from 15.75% in the same period last year[16]. - The basic earnings per share increased to ¥0.22, a rise of 15.79% compared to ¥0.19 in the previous year[16]. - The company achieved a revenue of 295 million yuan, representing a year-on-year growth of 6.98%[25]. - The net profit attributable to shareholders reached 10.66 million yuan, with a year-on-year increase of 14.70%[25]. - The company's net profit for the first half of 2024 reached ¥6,804,301.61, a decrease from ¥10,596,653.52 in the same period of 2023, representing a decline of approximately 35.5%[85]. - The total profit for the first half of 2024 was ¥7,583,113.39, compared to ¥11,309,553.28 in the first half of 2023, reflecting a decline of approximately 33.5%[85]. - The company's operating profit for the first half of 2024 was ¥7,679,963.05, down from ¥11,217,760.04 in the first half of 2023, representing a decrease of about 31.5%[85]. Shareholder Returns - The company distributed cash dividends totaling ¥9.50 million in June 2024, reflecting its commitment to return value to shareholders[2]. - The company implemented a cash dividend distribution of 2.00 yuan per 10 shares, totaling 9.5 million yuan[25]. Assets and Liabilities - The total assets decreased by 6.32% to 576,152,774.11 yuan compared to the previous year[17]. - The total liabilities decreased by 11.26% to 299,295,995.87 yuan compared to the previous year[17]. - The company's debt-to-asset ratio (consolidated) improved to 51.95% from 54.83% year-on-year[17]. - The company's total assets amounted to ¥576,152,774.11, down from ¥615,046,532.48, indicating a decrease of approximately 6.3%[78]. - Total liabilities decreased to ¥299,295,995.87 from ¥337,260,126.69, reflecting a reduction of about 11.3%[77]. Cash Flow - The company's net cash flow from operating activities was -7.21 million yuan, a decline of 116.47% compared to the previous year[19]. - Cash flow from operating activities decreased significantly by 116.47%, resulting in a net outflow of 7,206,021.82 yuan compared to a net inflow of 43,740,084.28 yuan in the previous year[40]. - The company's cash and cash equivalents decreased to ¥61,418,271 from ¥80,953,345, a decline of approximately 24%[79]. - The company's cash and cash equivalents at the end of the period amounted to ¥94,051,163.87, a decrease from ¥145,225,963.80 at the beginning of the period[166]. Research and Development - The company is currently developing an IGBT technology for commercial high-power induction cookers, which has been recognized as a "Shenzhen Enterprise Innovation Record"[2]. - The company has commenced construction on a new R&D base with a planned area of over 110,000 square meters, classified as a major industrial investment project in Foshan[2]. - Research and development expenses for the current period amounted to CNY 14,883,623.67, accounting for 5.05% of operating revenue[31]. - The company's research and development expenses for the first half of 2024 were ¥5,089,138.27, down from ¥7,578,871.93 in the first half of 2023, indicating a decrease of approximately 32.9%[85]. Market Expansion and Innovation - The company is actively pursuing market expansion and innovation strategies to enhance its competitive position in the industry[2]. - The company is actively expanding its overseas market presence through various promotional strategies[23]. - The company plans to benefit from the promotion of energy-efficient home appliances under the new government policy aimed at upgrading consumer electronics[26]. - The company is positioned to capitalize on the growth of the smart home appliance industry as a supplier of intelligent controllers and solutions[26]. Risk Management - The company has implemented measures to address significant risk factors as outlined in its financial report[6]. - The company faces risks related to the inability to maintain supplier qualifications, which could lead to being replaced by other suppliers, impacting stable operations[46]. - The company has established long-term cooperative relationships with major appliance brands, but customer concentration poses risks to sales stability[46]. - The company has not experienced significant changes in major risks during the reporting period[48]. - The company has faced a decline in demand orders from downstream customers due to a complex economic environment[46]. - The company has implemented measures to strengthen customer service quality and reduce reliance on single customers[46]. Employee and Management - The company has a total of 685 employees at the end of the reporting period, an increase of 92 employees from the beginning of the period[72]. - The management personnel increased from 5 to 6, while production personnel rose from 365 to 451, reflecting a significant hiring effort[72]. - The company appointed new executives, including Liu Jian as a director and CFO, and Xiao Wensong as the chairman of the supervisory board[69]. Accounting and Compliance - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that the financial statements reflect the true financial condition as of June 30, 2024[102]. - The company has not reported any changes in accounting policies or prior period error corrections during the current period[90]. - The company has not made any changes to its accounting estimates during the reporting period[164]. - The company uses RMB as its functional currency for accounting purposes[103]. Inventory and Receivables - The total inventory at the end of the period was ¥88,389,832.66, up from ¥87,316,947.43 at the beginning, indicating a slight increase of about 1.2%[188]. - The total accounts receivable at the end of the period was ¥121,467,162.58, compared to ¥111,721,400.37 at the beginning, indicating an increase of about 8.3%[169]. - The provision for bad debts at the end of the period was ¥3,970,931.74, which is 3.27% of the total accounts receivable, slightly down from 4.09% at the beginning of the period[170]. - The company reported a total of ¥4,409,479.52 in bad debt provisions, with a recovery of ¥742,563.86 during the reporting period[170]. Investments - The company has a total of 9 subsidiaries included in the consolidated financial statements, with the largest holding being 100% in Xinhuike Research Institute[101]. - The company's investment in joint ventures increased to ¥27,109,174.57 from ¥26,504,213.62, showing a growth of about 2.3%[189]. - The total amount of capitalized interest for the Xinhuike R&D base construction project was not specified, but the project is funded by self-raised and raised funds[195]. Government Grants and Taxation - The company benefits from a corporate income tax rate of 15% due to its qualification as a high-tech enterprise[164]. - The company’s subsidiaries, such as Xin Hui Ke Electric and Xin Hui Ke Research Institute, also enjoy a 20% preferential tax rate under small and micro enterprise policies[165]. - The company has implemented changes in accounting policies effective from January 1, 2023, related to deferred income tax assets and liabilities[164].
鑫汇科(831167) - 2024 Q2 - 季度财报