Financial Performance - The company's operating revenue for the first half of 2024 was ¥221,214,323.89, a decrease of 37.15% compared to ¥351,982,469.62 in the same period last year[14]. - The net profit attributable to shareholders of the listed company was -¥18,344,648.82, representing a decline of 145.03% from ¥40,736,898.63 in the previous year[14]. - The gross profit margin decreased to 15.68% from 29.10% year-on-year[14]. - Operating revenue decreased by 37.15%, compared to an increase of 67.29% in the same period last year[17]. - Net profit decreased by 132.54%, while it increased by 30.13% in the same period last year[17]. - The net profit for the period was ¥14,989,636.01, down 132.54% compared to the previous year, with a net loss attributable to the parent company of ¥18,344,648.82, a decline of 145.03%[27]. - The company's production model remains stable, with a focus on optimizing capacity layout and increasing the output of high-end isostatic graphite products[27]. - The company reported a total operating revenue of ¥221,214,323.89, a decrease of 37.15% compared to the same period last year[41]. - The company's net profit for the first half of 2024 was -20,426,960.91 yuan, a significant decrease compared to a net profit of 41,629,869.28 yuan in the same period of 2023, representing a decline of approximately 149%[74]. - The company's total profit for the first half of 2024 was -20,426,960.91 yuan, down from 47,738,791.35 yuan in the first half of 2023, indicating a decline of approximately 142.7%[75]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,983,380,389.16, an increase of 3.52% from ¥1,915,937,556.88 at the end of the previous year[15]. - Total liabilities increased by 8.76% to ¥1,022,917,572.23 from ¥940,485,103.94[15]. - The company's debt-to-asset ratio (consolidated) rose to 51.57% from 49.09%[15]. - As of June 30, 2024, total assets amounted to ¥1,983,380,389.16, reflecting a year-on-year increase of 3.52%, while net assets decreased by 1.54% to ¥960,462,816.93[27]. - The company's short-term borrowings increased by 36.67% to ¥416,039,391.91, indicating a shift in financing strategy[29]. - The inventory level rose by 5.26% to ¥494,158,680.78, accounting for 24.91% of total assets[29]. - Total assets increased to CNY 1,983,380,389.16 as of June 30, 2024, up from CNY 1,915,937,556.88 at the end of 2023, representing a growth of approximately 3.4%[68]. - Current assets totaled CNY 1,102,553,396.22, an increase from CNY 1,052,582,818.51, reflecting a growth of about 4.7%[66]. - Total liabilities increased to CNY 1,022,917,572.23, up from CNY 940,485,103.94, reflecting a growth of approximately 8.8%[68]. Cash Flow - The net cash flow from operating activities improved by 63.00%, reaching -¥49,447,367.56 compared to -¥133,629,255.80 in the same period last year[16]. - The net cash flow from operating activities was -¥49,447,367.56, an improvement of 63.00% compared to the previous period[37]. - The net cash flow from investing activities was -¥33,038,385.21, a decrease of 56.82% year-on-year[37]. - The net cash flow from financing activities was ¥94,911,200.93, down 76.57% from the previous period[37]. - Operating cash inflow for the first half of 2024 was CNY 147,679,081.88, a decrease of 25% compared to CNY 196,879,905.61 in the same period of 2023[76]. - Operating cash outflow for the first half of 2024 was CNY 197,126,449.44, down from CNY 330,509,161.41 in the first half of 2023, indicating improved cash management[76]. - Cash inflow from financing activities in the first half of 2024 was CNY 320,763,216.21, down from CNY 565,147,968.24 in the same period of 2023[77]. Research and Development - The company specializes in the R&D, production, and sales of special graphite materials, being one of the largest in the domestic industry[23]. - The company established a provincial-level R&D platform, the Jiangxi Special Graphite Material Engineering Research Center, which has been officially recorded[2]. - Research and development expenses decreased by 17.56% year-on-year to ¥9,666,188.28, representing 4.37% of operating revenue[32]. - The company has been actively involved in national and industry standards development, enhancing its market position[2]. - The company has been recognized as a "National High-tech Enterprise" and a "National Intellectual Property Advantage Enterprise," enhancing its competitive edge[25]. Market and Strategy - The special graphite market is expected to maintain growth due to ongoing demand in lithium battery and photovoltaic industries, despite current price declines[28]. - The company plans to enhance its core competitiveness by optimizing production processes and reducing costs through lean production methods[27]. - The company plans to focus on expanding its market presence and investing in new technologies to drive future growth[69]. - The company's production and sales strategy is influenced by historical sales data, inventory levels, market conditions, and future demand forecasts[23]. Corporate Governance and Shareholder Information - Major shareholders include Li Haihang (10.49%), Deng Daqin (9.06%), and Li Jiangbiao (5.66%), collectively holding 44.16% of the shares[54]. - The company has a total of 8 board members, 3 supervisors, and 5 senior management personnel[58]. - The total shareholding of the top executives amounts to 26,005,982 shares, representing 27.9354% of the total ordinary shares[60]. - The company has not made any acquisitions or significant asset sales during the reporting period[44]. - The company has not repurchased any shares as of June 30, 2024, with a total share repurchase of 0 shares, representing 0.00% of the total share capital[49]. Accounting Policies and Financial Reporting - The company has implemented changes in accounting policies effective from January 1, 2024, with no impact on financial statements[21]. - The company follows the accrual basis of accounting and prepares its financial statements in accordance with the relevant accounting standards[97]. - The company has not made any changes to its accounting policies or estimates compared to the previous financial statements[88]. - The financial statements were approved by the board of directors on August 29, 2024[94]. Risks and Challenges - The company faces risks related to macroeconomic fluctuations, large accounts receivable, human resources, and potential further declines in operating performance[42]. - The company plans to enhance its market development efforts and improve cash flow management to mitigate risks associated with declining performance[42].
宁新新材(839719) - 2024 Q2 - 季度财报