Financial Performance - The company's operating revenue for the first half of 2024 was CNY 410,668,431.55, a decrease of 25.57% compared to CNY 551,760,274.88 in the same period last year[14]. - The net profit attributable to shareholders for the same period was CNY 82,551,707.51, down 40.11% from CNY 137,834,301.21 year-on-year[14]. - The weighted average return on net assets based on net profit attributable to shareholders was 4.95%, down from 9.80% in the previous year[14]. - The basic earnings per share decreased by 45.24% to CNY 0.23 from CNY 0.42 year-on-year[14]. - The company's operating revenue for the period was CNY 410,668,431.55, representing a decrease of 25.57% from CNY 551,760,274.88 in the previous year[26]. - The company's net profit for the period was CNY 82,551,707.51, down 40.11% from CNY 137,834,301.21 in the previous year, primarily due to reduced sales prices and volumes[26]. - The gross profit margin decreased to 33.71% from 39.11% in the previous year, reflecting the impact of lower sales prices of silane gas and hydrogen[26]. - The company's operating profit for the first half of 2024 is 103,735,940.92, down from 175,866,562.15 in the first half of 2023, indicating a decrease of about 41%[65]. - The total profit for the first half of 2024 is 103,735,762.72, compared to 175,908,439.06 in the first half of 2023, indicating a decline of about 41%[65]. - The total comprehensive income for the first half of 2024 is 82,551,707.51, down from 137,834,301.21 in the first half of 2023, reflecting a decrease of approximately 40%[66]. Revenue and Cost Analysis - The company's operating costs amounted to ¥272,242,452.90, a decrease of 18.97% year-on-year, consistent with the decline in operating revenue[22]. - The average price of silane gas during the reporting period was CNY 179,900 per ton, a decrease of approximately 26% compared to CNY 241,600 per ton in the previous year, significantly impacting the company's gross profit[23]. - The company's main business revenue for the current period is ¥394,702,036.16, a decrease of 21.82% compared to the previous period's ¥504,831,645.91[28]. - Other business revenue decreased by 65.98%, from ¥46,928,628.97 to ¥15,966,395.39[28]. - The gross profit margin for gas and hazardous chemicals is 33.34%, down 13.87 percentage points from the previous year[29]. - The gross profit margin for technical services is 69.77%, a decrease of 7.80 percentage points year-on-year[29]. Cash Flow and Liquidity - The net cash flow from operating activities was ¥52,028,285.76, an increase of 154.25% compared to the previous period, driven by higher cash inflows from sales of goods and services[22]. - Cash and cash equivalents decreased to CNY 151,016,069.88 as of June 30, 2024, from CNY 189,844,968.76 at the end of 2023, indicating liquidity challenges[61]. - The ending balance of cash and cash equivalents increased to 148,368,478.45 from 202,357,227.96 in the previous period[68]. - The net cash flow from investment activities was -1,377,116.12, indicating a significant outflow compared to the previous period's outflow of -123,967,138.10[68]. - The net cash flow from financing activities was -39,460,357.49, an improvement from -135,934,722.50 in the prior period[68]. Assets and Liabilities - Total assets decreased by 8.56% to ¥2,273,750,074.07 from the previous year[15]. - Total liabilities decreased by 28.09% to ¥604,764,773.52 from the previous year[15]. - The company's debt-to-asset ratio (consolidated) improved to 26.60% from 33.83% in the previous year[15]. - The company's fixed assets increased by 28.10% to CNY 1,487,439,496.13, compared to 46.69% of total assets in the previous year[24]. - The company's long-term borrowings increased by 24.37% to CNY 101,407,527.66, reflecting new long-term loans taken during the reporting period[25]. Research and Development - The company has established a research and development center in collaboration with Shanghai Jiao Tong University and other institutions, focusing on high-purity silane production technology[20]. - The company's research and development expenses decreased by 33.71% to CNY 10,817,718.22, indicating reduced investment in R&D compared to the previous year[27]. - The company is focused on expanding its global market presence through new patents and product development[1]. Shareholder and Governance - The company implemented a profit distribution plan, increasing total shares from 324,661,590 to 422,060,067 after a stock dividend of 3 shares for every 10 held and a cash dividend of CNY 1.85 per 10 shares[1]. - The largest shareholder, China Pingmei Shenma Holdings Group Co., Ltd., holds 82,509,718 shares, accounting for 19.55% of total shares[50]. - The second-largest shareholder, Henan Pingmei Shenma Shoushan Carbon Materials Co., Ltd., holds 76,618,338 shares, representing 18.15% of total shares[50]. - The total number of shareholders with unrestricted shares is 7,881 as of the end of the reporting period[48]. - The board of directors consists of 9 members, with 3 supervisors and 9 senior management personnel[53]. Risk Management - The company faces risks related to internal management and control as it expands its operations and workforce[35]. - The company has established a governance structure to mitigate risks from its controlling shareholder, which holds 54.89% of the company's shares[35]. - Sales to the top five customers accounted for 54.06% of total operating revenue for the first half of 2024, indicating a high customer concentration risk[37]. Market and Industry Trends - The company is facing a significant impact on its performance in the first half of 2024 due to the expected rational return of silane gas prices and the ongoing adjustments in the photovoltaic industry[23]. - The company is closely monitoring developments in the photovoltaic industry to adapt its strategies accordingly[36]. - The company plans to explore new application areas and markets, including silicon-carbon anode materials, to stabilize market share and operational performance[36]. Compliance and Reporting - The financial report reflects the company's financial position and operating results accurately, adhering to the relevant accounting standards[80]. - The financial report was approved by the board of directors on August 28, 2024[77]. - The company has not reported any significant research and development expenditures during the reporting period[76].
硅烷科技(838402) - 2024 Q2 - 季度财报