申科股份(002633) - 2024 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2024 was ¥161,964,898.08, representing a 23.34% increase compared to ¥131,318,913.77 in the same period last year[11]. - The net profit attributable to shareholders was ¥6,635,411.47, a significant turnaround from a loss of ¥7,844,397.42 in the previous year, marking an increase of 184.59%[11]. - The net profit after deducting non-recurring gains and losses was ¥5,509,295.89, compared to a loss of ¥9,690,973.95 in the same period last year, reflecting a 156.85% improvement[11]. - The basic earnings per share increased to ¥0.0442 from a loss of ¥0.0523, representing a growth of 184.51%[11]. - The total assets at the end of the reporting period were ¥660,881,856.72, a slight increase of 0.60% from ¥656,967,124.29 at the end of the previous year[11]. - The net assets attributable to shareholders rose to ¥419,355,201.40, up 1.67% from ¥412,474,730.92 at the end of the last year[11]. - The company reported a net cash flow from operating activities of -¥11,711,909.09, an improvement of 41.34% compared to -¥19,966,963.28 in the previous year[11]. - The weighted average return on equity was 1.60%, a recovery from -1.84% in the same period last year, indicating a positive trend[11]. Revenue and Sales - The company's operating revenue for the reporting period reached ¥161,964,898.08, representing a year-on-year increase of 23.34% compared to ¥131,318,913.77 in the previous year, attributed to sales growth[24]. - Domestic sales accounted for 98.39% of total revenue, amounting to ¥159,353,131.60, a 35.69% increase from the previous year[27]. - The company reported a significant decline in foreign sales, which dropped to ¥215,561.48, a decrease of 97.17% from ¥7,621,101.47 year-on-year[27]. Costs and Expenses - The cost of goods sold was ¥125,481,105.70, reflecting a 16.02% increase from ¥108,159,254.72 year-on-year[25]. - Total operating costs increased to ¥156,215,085.59, up 10% from ¥142,076,286.52 year-on-year[77]. - Research and development expenses decreased to ¥7,563,308.13, down 12.85% from ¥8,678,612.30 year-on-year[25]. - The company experienced a significant reduction in financial expenses, which decreased to ¥699,595.34 from ¥1,573,776.92, a reduction of approximately 55.5%[79]. Market Position and Industry Insights - The global bearing market size was valued at $120.98 billion in 2023, with the Asia-Pacific region accounting for 40% of the market share, and is projected to reach $226.6 billion by 2030[18]. - The company is recognized as a key player in the thick-walled sliding bearing sector in China and holds a leading position in market share, technology development, and production processes[20]. - The company has established a comprehensive product series and specifications, making it one of the domestic manufacturers with the most diverse and complete range of thick-walled sliding bearings[23]. - The sliding bearing industry is influenced by macroeconomic cycles and investment in fixed assets, which significantly affects market demand[19]. Risk Management and Governance - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report[2]. - The company faces market competition risks due to the rapid development of the downstream equipment manufacturing industry, necessitating improvements in product quality and innovation[36]. - The company is addressing risks related to customer concentration by increasing new product development and expanding its customer base[36]. - The company has appointed new executives and board members as part of its governance structure, with several positions being filled effective June 18, 2024[39]. Cash Flow and Financial Health - Cash and cash equivalents decreased to ¥41,568,911.38, representing 6.29% of total assets, down from 9.30% last year, a decrease of 3.01%[30]. - Accounts receivable increased to ¥179,626,448.50, accounting for 27.18% of total assets, up from 20.89% last year, an increase of 6.29%[30]. - Inventory decreased to ¥139,822,470.58, making up 21.16% of total assets, down from 24.02% last year, a decrease of 2.86%[30]. - The company reported a net cash flow from investing activities of -700,630.00 CNY in 2024, compared to a positive cash flow of 3,130,720.00 CNY in 2023, indicating a significant shift in investment strategy[82]. Shareholder Information - The largest shareholder, He Quanbo, holds 28.12% of the shares, totaling 42,187,466 shares[61]. - The second-largest shareholder, Beijing Huachuang Yisong Asset Management Center, holds 13.76% with 20,643,750 shares[61]. - The total number of common stock shareholders at the end of the reporting period was 9,100[61]. - There were no reported relationships or concerted actions among the major shareholders[62]. Compliance and Regulations - The company strictly adheres to labor laws and regulations, ensuring all employees have signed labor contracts and receive timely social insurance and housing fund contributions[43]. - The company reported no significant environmental issues or administrative penalties related to environmental problems during the reporting period[42]. - The company has not reported any significant changes in accounting policies or prior period error corrections for the current reporting period[90]. Accounting and Financial Reporting - The financial statements were approved by the company's board of directors on August 28, 2024[95]. - The company adheres to the accounting standards issued by the Ministry of Finance and the China Securities Regulatory Commission for financial reporting[96]. - The company recognizes revenue when control of goods or services is transferred to the customer, either at a point in time or over a period[159]. - The company recognizes expected credit losses based on the risk of default, calculating the present value of the difference between contractual cash flows and expected cash flows[118].