Financial Performance - The company's operating revenue for the first half of 2024 was CNY 265,616,439.94, representing a 51.20% increase compared to CNY 175,669,555.64 in the same period last year[15]. - The net profit attributable to shareholders of the listed company decreased by 10.99% to CNY 8,093,178.90 from CNY 9,092,497.87 year-on-year[15]. - The gross profit margin for the reporting period was 13.42%, down from 17.04% in the previous year[15]. - The basic earnings per share for the reporting period was CNY 0.08, down 11.11% from CNY 0.09 in the same period last year[15]. - The company reported a net profit of ¥7,974,081.11, a decrease of 12.30% from ¥9,092,497.87 in the previous year[27]. - The company's total revenue for the period reached ¥265,616,439.94, representing a 51.20% increase compared to ¥175,669,555.64 in the same period last year[27]. - The company's net profit margin improved, with net profit for the first half of 2024 showing a notable increase compared to the previous year, although specific figures were not disclosed in the provided data[65]. - The total profit for the first half of 2024 was ¥9,908,181.94, compared to ¥9,138,365.74 in the first half of 2023, marking an increase of 8.4%[67]. - The company's total comprehensive income for the current period is CNY 8,093,178.90, with a net profit distribution to shareholders of CNY -4,736,500.04[74]. Dividends and Shareholder Returns - The company issued cash dividends of CNY 0.45 per 10 shares, totaling CNY 4,736,500.04 distributed to shareholders[2]. - The annual profit distribution plan for 2023 was approved, with a cash dividend of RMB 0.45 per share, totaling RMB 4,736,500.04 based on 105,255,627 shares[83]. Assets and Liabilities - Total assets increased by 15.52% to ¥573,233,734.24, while total liabilities rose by 73.99% to ¥163,432,433.86[16]. - The company's total current assets increased to ¥381,319,794.26 as of June 30, 2024, up from ¥309,391,514.98 at the end of 2023, reflecting a growth of approximately 23.25%[59]. - Current liabilities rose significantly to CNY 153,984,823.59, compared to CNY 85,107,189.61, marking an increase of about 80.5%[60]. - Total liabilities reached CNY 163,432,433.86, compared to CNY 93,929,501.42, showing an increase of around 74%[61]. - The company's equity attributable to shareholders rose to CNY 405,657,035.83 from CNY 402,300,356.97, a marginal increase of about 0.6%[61]. Cash Flow - Operating cash flow turned negative at -¥47,086,643.20, a decline of 244.04% compared to the previous year[17]. - The net cash flow from operating activities for the first half of 2024 was -47,086,643.20 CNY, compared to 32,690,554.40 CNY in the same period of 2023, indicating a significant decline[69]. - Total cash inflow from operating activities decreased to 187,450,041.33 CNY in 2024 from 216,199,220.17 CNY in 2023, reflecting a drop of approximately 13.3%[69]. - Cash outflow from operating activities increased to 234,536,684.53 CNY in 2024, up from 183,508,665.77 CNY in 2023, representing an increase of about 27.8%[69]. Research and Development - The company obtained 4 new invention patents during the reporting period, enhancing its automation processing capabilities and core competitiveness[2]. - The company holds over 70 patents, including 6 invention patents, indicating a strong focus on R&D and innovation[21]. - Research and development expenses for the first half of 2024 were ¥7,347,450.31, down from ¥8,955,067.17, indicating a decrease of about 18%[65]. Market and Industry Outlook - The global connector market is projected to grow from $84.1 billion in 2022 to $95.4 billion by 2024, with a CAGR of 6.50%[22]. - The Chinese connector market is expected to reach ¥205.7 billion in 2023, growing to ¥218.3 billion in 2024[22]. - The company plans to continue expanding its market presence and developing new products and technologies[170]. Risk Management - The company faces risks from macroeconomic changes and high customer concentration, with sales to the top five customers accounting for a substantial portion of total revenue[39]. - The company acknowledges the risk of intensified market competition as global manufacturers shift production bases to mainland China[40]. - The company has implemented measures to mitigate bad debt risks associated with accounts receivable, including provisions for bad debts and efforts to shorten payment terms[41]. Corporate Governance - The company has not faced any delisting risks as per the report[7]. - The board of directors and senior management remain unchanged, with terms ending on December 7, 2024[55]. - Major shareholders include Zhao Qingfu and Li Liangwei, each holding 33.69% of shares, totaling 35,740,000 shares[51]. Accounting Policies - The financial statements are prepared based on the going concern assumption, indicating the company has the ability to continue operations for at least 12 months from the reporting date[89]. - The company did not change its accounting policies compared to the previous year[82]. - The company recognizes revenue based on significant judgments and estimates, which may impact revenue and expenses[160].
智新电子(837212) - 2024 Q2 - 季度财报