烽火电子(000561) - 2024 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2024 was ¥486,840,696.82, a decrease of 10.83% compared to ¥540,246,461.00 in the same period last year[10]. - The net profit attributable to shareholders was -¥49,601,908.17, compared to a profit of ¥4,333,265.73 in the previous year[10]. - The net cash flow from operating activities was -¥333,280,043.89, worsening from -¥178,068,763.47 in the same period last year[10]. - The total assets at the end of the reporting period were ¥4,141,658,697.47, down 3.87% from ¥4,308,330,726.99 at the end of the previous year[10]. - The net assets attributable to shareholders decreased by 2.79%, from ¥1,894,080,251.68 to ¥1,841,154,438.57[10]. - The basic earnings per share were -¥0.0821, compared to ¥0.0072 in the same period last year[10]. - The diluted earnings per share were -¥0.0820, also down from ¥0.0072 in the previous year[10]. - The weighted average return on equity was -2.65%, a decrease of 2.89 percentage points from 0.24% in the previous year[10]. Cash Flow and Investments - The company reported a significant increase in financial expenses, totaling CNY 111.41 million, compared to CNY 103.23 million in the previous year[84]. - The company’s investment activities generated a net cash outflow of -26,646,455.81 CNY, an improvement from -75,062,152.32 CNY in the previous year[90]. - The net cash flow from investment activities was 3,346,374.12 CNY, a significant recovery from -100,280,392.04 CNY previously, suggesting better investment performance[92]. - The company reported an investment amount of ¥26,006,770.19 for the current period, a significant increase of 1,850.31% compared to the previous year's investment of ¥1,333,467.08[24]. Subsidiary Performance - The subsidiary Shaanxi Fenghuo Communication Technology Co., Ltd. achieved a revenue of ¥10,255.76 million in 2024, representing a year-on-year growth of 27.19%[31]. - The subsidiary Shaanxi Fenghuo Hongsheng Technology Co., Ltd. reported a revenue of ¥13,213.73 million, an increase of 31.68% compared to the previous year[31]. Research and Development - Research and development investment increased by 7.93% to CNY 111.41 million compared to the same period last year[19]. - Research and development expenses rose to CNY 93.97 million, compared to CNY 91.62 million in the previous year, reflecting a 2.6% increase[84]. - Research and development expenses increased to 73,074,286.04 CNY, up from 69,830,259.19 CNY, reflecting a focus on innovation[86]. Shareholder Returns and Dividends - The company plans to distribute a cash dividend of ¥0.1 per 10 shares, totaling ¥603,698,677 as the base[2]. - The total cash dividend, including other methods, amounts to 9,122,594.80 yuan, which represents 100% of the distributable profit of 8,411,449.79 yuan[36]. - The company aims to enhance shareholder returns by increasing dividend levels and frequency in response to regulatory guidance[36]. Risk Factors - The company has faced risks including policy, operational, new business cultivation, and exchange rate risks, which may impact its future performance[32]. - The company reported no significant adverse factors affecting its production, operation, financial status, or ongoing profitability[2]. Corporate Governance - The company held its annual general meeting with a participation rate of 46.53% on May 13, 2024[34]. - The company reported no changes in major shareholders or actual controllers during the reporting period[70]. - The company has not engaged in any securities or derivative investments during the reporting period[26][27]. Environmental and Social Responsibility - There were no significant environmental issues or administrative penalties reported during the period, and all pollution control measures were compliant with national standards[39]. - The company has committed to social responsibility initiatives, including poverty alleviation and community support programs[40]. Related Party Transactions - The approved total transaction limit for related party transactions in 2024 is CNY 120.76 million, with actual transactions in the first half of 2024 amounting to CNY 56.37 million, which is within the approved limit[44]. - The approved annual limit for purchasing raw materials and accepting services from related parties is CNY 100.68 million, with actual procurement from related parties accounting for 5.07% of total procurement[44]. Financial Position - The total liabilities decreased from CNY 2,274,825,041.49 to CNY 2,184,257,175.06, a decline of about 3.98%[78]. - The total equity attributable to shareholders at the end of the first half of 2024 is CNY 1,984,913,163.46, reflecting a slight decrease from the previous period[96]. - The company's total share capital consists of 602,026,686 unrestricted shares, which is 99.63% of the total[66]. Accounting Policies - The financial report for the first half of 2024 was not audited[73]. - The company recognizes revenue when control of goods or services is transferred to the customer, following specific accounting policies[168]. - The company assesses the recoverability of deferred tax assets based on the likelihood of future taxable income[173]. Inventory and Receivables - The company reported a significant increase in inventory, which includes raw materials, work-in-progress, finished goods, and other consumables[135]. - The total accounts receivable at the end of the period amounted to ¥1,978,482,789.10, an increase from ¥1,795,478,380.12 at the beginning of the period[193]. - The provision for bad debts for accounts receivable was ¥219,769,282.66, representing a provision rate of 11.11%[194].