Financial Performance - Revenue increased by approximately 20.36% to approximately RMB 49.914 billion[2] - Profit attributable to owners increased by approximately 1.09% to approximately RMB 928 million[2] - Basic earnings per share increased by approximately 1.09% to RMB 82.43[6] - The company reported a net profit of RMB 1.066 billion compared to RMB 1.008 billion in the previous year, an increase of approximately 5.7%[4] - The net profit for the six months ended June 30, 2024, reached RMB 928,222,000, a slight increase from RMB 918,209,000 in the same period of 2023, representing a growth of approximately 1.1%[23] - The group achieved a manufacturing revenue of approximately RMB 21.211 billion during the reporting period[41] - The group’s total revenue for the reporting period was approximately RMB 49.915 billion, an increase of about 20.36% year-on-year[58] Cost and Profitability - Gross profit decreased to RMB 2.546 billion from RMB 3.034 billion, a decline of approximately 16.1%[3] - Gross profit for the reporting period was approximately RMB 2.546 billion, a decrease of about 16.08% year-on-year, with a manufacturing gross margin of approximately 12.12%[59] - Other income increased by approximately 58.29% year-on-year to about RMB 1.242 billion, mainly due to increased government subsidies and interest income[60] Assets and Liabilities - Total assets increased to RMB 33.860 billion from RMB 29.340 billion, an increase of approximately 15.5%[7] - Total assets as of June 30, 2024, were approximately RMB 54.288 billion, an increase of about 16.12% compared to December 31, 2023[63] - Current liabilities increased to RMB 28.299 billion from RMB 23.286 billion, an increase of approximately 21.6%[8] - Total liabilities increased by approximately 25.57% to about RMB 35.544 billion as of June 30, 2024[63] - The debt-to-asset ratio as of June 30, 2024, is approximately 26.40%, up from 19.42% as of December 31, 2023[65] Research and Development - Research and development costs increased to RMB 942 million from RMB 829 million, an increase of approximately 13.6%[3] - Research and development costs rose from approximately RMB 829 million to about RMB 942 million, driven by an increase in the number of R&D projects[62] Shareholder Returns - The company declared a final dividend of HKD 0.43 per ordinary share, equivalent to RMB 0.3915, compared to RMB 0.3552 for the final dividend of HKD 0.40 per share in 2023, marking an increase of about 10.4%[22] - The company has not recommended an interim dividend for the six months ended June 30, 2024, and June 30, 2023[22] Employee and Operational Metrics - The total number of employees as of June 30, 2024, is 21,929, a decrease from 27,253 as of June 30, 2023, with employee costs for the reporting period amounting to approximately RMB 1.601 billion[68] International Expansion and Market Strategy - The company is committed to international expansion, with a focus on innovation and adapting battery products and energy solutions for global markets[40] - The group is actively expanding its international strategy, with production base construction in Vietnam and partnerships in Southeast Asia, Europe, and America[44] - The first overseas smart manufacturing base has been established in Vietnam, serving as a foothold for expanding into the Southeast Asian market[40] Product Development and Innovation - The company has developed and launched several new products, including the first electric motorcycle lead-acid battery and the next-generation sodium-ion power battery "TianSodium T2"[39] - The company launched a new generation 5MWh smart liquid cooling storage system, achieving industry-leading levels in adaptability, safety, and cycle life[49] - The company has established a comprehensive hydrogen energy solution covering various applications, including buses and loaders, contributing to local zero-carbon transportation initiatives[50] Environmental and Circular Economy Initiatives - The recycling rate for waste lead-acid battery components exceeds 99%, while the recovery rates for waste lithium-ion battery sulfate and lithium carbonate are over 98.5% and 90%, respectively[39] - The company reported external revenue of approximately RMB 1.554 billion from its circular economy initiatives during the reporting period[52] - The lead-acid battery recycling business generated revenue of approximately RMB 1.286 billion during the reporting period[53] - The group's lithium-ion battery recycling business generated revenue of approximately RMB 268 million during the reporting period[55] - The actual recycling volume of used lithium-ion batteries in 2023 was 623,000 tons, with the group capable of processing 10,000 tons of used ternary lithium-ion batteries annually[55] Governance and Compliance - The company has adopted corporate governance practices in compliance with the listing rules, with the chairman also serving as the CEO to enhance operational efficiency[73] - The financial information disclosed has not been audited but has been prepared in accordance with Hong Kong Accounting Standard 34[74]
天能动力(00819) - 2024 - 中期业绩