ECT(SZ:300679)2024-08-28 10:39Financial Performance - The company's operating revenue for the first half of 2024 reached ¥2,144,223,600.32, representing a 57.11% increase compared to ¥1,364,770,418.26 in the same period last year[11]. - Net profit attributable to shareholders was ¥307,566,074.70, a significant increase of 145.77% from ¥125,145,044.26 year-on-year[11]. - The basic earnings per share rose to ¥0.73, up 143.33% from ¥0.30 in the previous year[11]. - The gross profit margin for RF connectors and cable assemblies was 45.04%, with a year-on-year increase of 3.07%, while automotive connectors saw a gross profit margin of 40.78%, reflecting a 1.35% increase[36]. - The company reported a total profit of ¥338,194,136.48 for the first half of 2024, significantly higher than ¥136,225,029.54 in the previous year[124]. - The company's operating profit for the first half of 2024 reached ¥286,565,982.08, a significant increase from ¥122,466,511.55 in the same period of 2023, representing a growth of approximately 134%[127]. Assets and Liabilities - The total assets at the end of the reporting period were ¥6,533,403,936.31, reflecting a 3.80% increase from ¥6,294,397,634.94 at the end of the previous year[11]. - Total liabilities amounted to CNY 1,662,016,461.64, an increase of 2.9% from CNY 1,616,161,652.63[119]. - The company's total current liabilities increased to ¥1,412,533,841.71 in the first half of 2024, compared to ¥1,373,183,021.44 in the same period of 2023[124]. - The net increase in cash and cash equivalents was ¥101,424,273.72, a 227.08% improvement compared to a decrease of ¥79,810,493.72 in the previous year, indicating better cash management[35]. - Cash and cash equivalents at the end of the reporting period amounted to ¥1,408,362,415.35, accounting for 21.56% of total assets, a decrease of 0.51% from the previous year[39]. Research and Development - Research and development expenses amounted to ¥216,529,121.47, a 47.05% increase from ¥147,252,810.91 in the previous year, driven by increased revenue and R&D investment[35]. - The company’s research and development expenses increased to ¥195,461,610.33 in the first half of 2024, up from ¥127,210,600.22 in the same period of 2023, reflecting a growth of approximately 54%[127]. Market and Industry Trends - In the first half of 2024, the global smartphone market shipped 294 million and 285 million units in Q1 and Q2 respectively, with year-on-year growth of 7.8% and 6.5%[18]. - Domestic smartphone shipments reached 147 million units in the first half of 2024, representing a year-on-year increase of 13.2%[18]. - In the first half of 2024, domestic new energy vehicle production and sales reached 4.929 million and 4.944 million units respectively, with year-on-year growth of 30.1% and 32%[19]. - The market penetration rate of new energy vehicles reached 35.2% in the first half of 2024[19]. Corporate Governance and Shareholder Matters - The company plans not to distribute cash dividends or issue bonus shares for this reporting period[2]. - The company held its annual general meeting on May 16, 2024, with a participation rate of 41.94%[64]. - The company is committed to enhancing shareholder returns and maintaining sustainable development through effective governance and resource allocation[63]. - The first phase of the employee stock ownership plan has been fully terminated, with 5,803,788 shares sold, accounting for 1.37% of the company's total share capital[69]. Environmental Compliance and Social Responsibility - The company has complied with environmental protection regulations and received necessary permits, including a new pollutant discharge permit valid until January 2028[70]. - The company has established emergency response plans for environmental incidents, with specific plans for key subsidiaries[78]. - The company has actively participated in social responsibility initiatives, including poverty alleviation and educational support[81]. - The company has implemented a comprehensive employee welfare system to protect employee rights and promote a harmonious labor relationship[82]. Investment and Capital Expenditure - The company invested ¥74,895,734.40 during the reporting period, a significant increase of 376.44% compared to ¥15,720,000.00 in the same period last year[42]. - The company utilized ¥16,047.01 million for the construction of the connector industry base in Hefei, and ¥73,053.02 million for the technological transformation and capacity expansion project at the Shenzhen headquarters[44]. - The company has postponed the completion date of the connector industry base project in Hefei from December 31, 2023, to December 31, 2024, due to delays in construction and certification processes[47]. Risk Management - The company faces risks from the need to expand into non-mobile and automotive electronics sectors, as the consumer electronics market has shown signs of weakness[59]. - The company emphasizes the importance of retaining specialized talent to maintain market competitiveness, particularly in AI communication technology and automotive electronics[60]. - The company plans to implement measures to mitigate risks from rising raw material costs, which accounted for over 50% of production costs during the reporting period[60]. Financial Reporting and Compliance - The company's financial report for the first half of 2024 has not been audited[116]. - The company has assessed its ability to continue as a going concern for the next 12 months and found no significant doubts regarding its sustainability[150]. - The company’s accounting policies comply with the requirements of the enterprise accounting standards, reflecting the financial status, operating results, and cash flows accurately[152].