吉鑫科技(601218) - 2024 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2024 was CNY 580,345,840.03, representing a 2.42% increase compared to CNY 566,620,422.19 in the same period last year[17]. - The net profit attributable to shareholders of the listed company decreased by 37.25% to CNY 33,539,057.19 from CNY 53,452,184.96 year-on-year[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 48.95% to CNY 24,525,175.35 compared to CNY 48,041,479.63 in the previous year[17]. - The net cash flow from operating activities decreased by 16.24% to CNY 194,764,633.46 from CNY 232,521,598.60 in the same period last year[17]. - Basic earnings per share decreased by 37.86% to 0.0343 CNY compared to the same period last year[18]. - Diluted earnings per share decreased by 37.29% to 0.0343 CNY compared to the same period last year[18]. - The company's gross profit margin decreased due to a 10.46% increase in operating costs, which rose to approximately CNY 471.07 million from CNY 426.47 million[29]. - The company anticipates a slight loss in the casting business segment for the full year due to market price competition, but management is focused on improving profitability in the second half[28]. Assets and Liabilities - As of June 30, 2024, the net assets attributable to shareholders of the listed company were CNY 2,837,672,811.90, a decrease of 2.19% from CNY 2,901,146,375.51 at the end of the previous year[17]. - Total assets as of June 30, 2024, were CNY 3,651,318,988.09, down 2.35% from CNY 3,739,080,837.55 at the end of the previous year[17]. - The total liabilities decreased from CNY 836,910,657.46 to CNY 812,685,223.38, a reduction of approximately 2.9%[68]. - The total equity attributable to shareholders decreased from CNY 2,901,146,375.51 to CNY 2,837,672,811.90, a decline of about 2.2%[68]. - The company's total current assets decreased from CNY 1,769,369,090.19 to CNY 1,713,171,917.38, a decline of approximately 3.2%[66]. - The company's accounts receivable decreased from CNY 585,354,809.97 to CNY 542,102,501.79, a decrease of approximately 7.4%[66]. - The company's inventory increased from CNY 219,836,531.41 to CNY 276,184,504.14, an increase of approximately 25.5%[66]. Cash Flow - The net cash flow from operating activities decreased by 16.24% to approximately CNY 194.76 million, compared to CNY 232.52 million in the same period last year[29]. - Cash inflows from operating activities decreased to CNY 548,767,568.95 in the first half of 2024, down from CNY 691,947,935.95 in the same period of 2023, representing a decline of about 20.6%[78]. - The total cash outflows from operating activities were CNY 369,029,859.10 in the first half of 2024, down from CNY 483,856,928.82 in the same period of 2023, reflecting a decrease of approximately 23.7%[78]. - The net cash flow from financing activities was -¥5,658,126.07, a decrease from a positive cash flow of ¥26,872,022.41 in the first half of 2023, suggesting increased outflows for debt repayment and dividends[82]. Market and Industry Context - The wind power industry saw a 12% year-on-year increase in newly installed capacity, totaling 25.84 million kW in the first half of 2024[22]. - The cumulative installed capacity of wind power in China reached 467 million kW, a 20% increase year-on-year[22]. - The global wind power industry is projected to add 1210 GW of capacity from 2024 to 2030, reflecting a 10% upward revision in growth forecasts[22]. - The company faces increased competition in the domestic supply chain as its share of the global wind power casting supply dropped from 85% in 2020 to 70% in 2023[22]. Research and Development - Research and development expenses decreased by 43.36% to approximately CNY 17.39 million, down from CNY 30.71 million in the previous year[29]. - The company has filed for 1 invention patent and 8 utility model patents during the reporting period, with a total of 83 authorized patents by the end of the reporting period[25]. - The company is focusing on the development of new materials, specifically QT500-14, to meet the demands of high-power wind turbines[25]. Environmental and Social Responsibility - The company holds a pollution discharge permit valid from September 26, 2022, to September 25, 2027, for wastewater management[46]. - The company reported a total discharge of 18.1579 tons of particulate matter and 1.227 tons of VOCs in the current reporting period[46]. - The company donated 140,000 yuan to local public welfare initiatives in April 2024, contributing to community development[54]. Corporate Governance - The board of directors confirmed that all members attended the meeting and that the financial report is accurate and complete[3]. - The company has experienced a change in management, with WU JIE resigning from the positions of director, CFO, and board secretary due to personal reasons[42]. - The company has approved a stock incentive plan aimed at motivating employees, which was discussed in board meetings in March 2022[44]. Shareholder Information - The company plans to distribute a cash dividend of CNY 0.1 per 10 shares, totaling CNY 9,701,262.08, which accounts for 28.93% of the net profit attributable to shareholders for the first half of 2024[4]. - The total share capital as of June 30, 2024, is 977,095,932 shares, with adjustments made for share repurchases and other factors[43]. - The largest shareholder, Mr. Bao Shijin, holds 214,849,388 shares, representing 21.99% of the total shares, with 65,900,000 shares pledged[62].