ZZTCO., LTD.(SH:603767)2024-08-29 07:35Financial Performance - The company's operating revenue for the first half of 2024 was approximately ¥491 million, a decrease of 3.02% compared to ¥506 million in the same period last year[12]. - The net profit attributable to shareholders of the listed company increased by 9.48% to approximately ¥39 million, up from ¥35 million in the previous year[12]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥38 million, reflecting an 11.11% increase from ¥34 million in the same period last year[12]. - The net cash flow from operating activities was approximately ¥80 million, representing a 4.57% increase compared to ¥76 million in the previous year[12]. - Basic earnings per share for the reporting period increased by 8.33% to CNY 0.13 compared to CNY 0.12 in the same period last year[14]. - Net profit attributable to shareholders increased by 9.48% year-on-year, while operating revenue decreased by 3.02%[14]. - The total profit for the first half of 2024 was approximately ¥42.37 million, an increase of 10.7% from ¥38.32 million in the first half of 2023[71]. - The company reported a financial expense of approximately -¥3.06 million, compared to -¥2.99 million in the same period last year[71]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥1.784 billion, a decrease of 5.38% from ¥1.885 billion at the end of the previous year[13]. - The net assets attributable to shareholders of the listed company were approximately ¥1.433 billion, down 1.54% from ¥1.455 billion at the end of the previous year[13]. - The company's total assets amounted to CNY 1,783,591,180.81, a decrease from CNY 1,885,059,611.20 at the end of 2023, representing a decline of approximately 5.4%[61]. - The company's total liabilities of the company were CNY 350,557,252.83, down from CNY 429,580,326.03, showing a decrease of approximately 18.4%[63]. - The company's total equity as of June 30, 2024, was CNY 1,437,974,184.01, down from CNY 1,459,583,722.51 at the end of 2023, a decrease of 1.5%[66]. Research and Development - Research and development expenses increased by 15.74% to ¥23,034,856.38, driven by increased investment in new product projects[23]. - The company has a strong R&D team with over 20 years of experience in vehicle gear development, ensuring competitive development cycles for transmission assemblies[20]. - The company has initiated development projects for 6 new models of new energy reducers during the reporting period[22]. Environmental Impact - The company reported a total wastewater discharge of 101,714 tons for the year 2024, with a half-year discharge of 26,601.5 tons, including COD at 0.96 tons and ammonia nitrogen at 0.097 tons[32]. - The company has established an emergency response plan for environmental incidents, which was completed and filed in October 2021[38]. - The company has implemented automatic online monitoring for key pollutants, including pH, chemical oxygen demand, and flow[32]. - The company has maintained compliance with noise pollution standards, with measurements taken at various factory boundaries showing levels within acceptable ranges[34]. Corporate Governance - The company has no plans for profit distribution or capital reserve transfer for the first half of 2024[3]. - There were no significant risks that materially affected the company's production and operations during the reporting period[4]. - The report was not audited, and the management team has ensured the accuracy and completeness of the financial report[2]. - The company has not disclosed any updates on stock incentive plans or employee stock ownership plans[30]. Market and Industry Trends - In the first half of 2024, the automotive industry saw production and sales of 13.89 million and 14.04 million vehicles, respectively, representing year-on-year growth of 4.9% and 6.1%[19]. - The market share of new energy vehicles reached 35.2%, with production and sales increasing by 30.1% and 32% year-on-year, respectively[19]. - The company primarily engages in the research, production, and sales of automotive transmissions and gears, including products for electric vehicles[17]. Financial Management - The company has established a dynamic cost reduction tracking mechanism to enhance project profitability and competitiveness[22]. - The company has optimized its supply chain and procurement processes to reduce costs, achieving a "zero inventory" management approach for key raw materials[21]. - The company reported a significant reduction in cash flow from investing activities, which improved by 71.93% to -¥13,131,343.72 from -¥46,778,480.27[23]. Shareholder Information - The top ten shareholders hold a total of 309,000,000 shares, representing 99.99% of the total shares held by the top shareholders[55]. - The largest shareholder, Wenling Zhongtai Investment Co., Ltd., holds 93,556,478 shares, accounting for 30.31% of the total shares[55]. - The company has fulfilled its commitments regarding the lock-up period for shares, which lasts for 18 months from October 24, 2023[42]. Accounting Policies - The financial statements are prepared based on the principle of ongoing concern, ensuring compliance with accounting standards[89]. - The company has implemented specific accounting policies for financial instruments, inventory, fixed asset depreciation, and revenue recognition[89]. - The company recognizes expected credit losses based on the weighted average of credit losses, adjusted for the risk of default[103].