奥士康(002913) - 2024 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2024 was CNY 2,147,370,990.70, representing a 5.19% increase compared to CNY 2,041,503,676.74 in the same period last year[11]. - The net profit attributable to shareholders of the listed company decreased by 20.04% to CNY 222,453,160.53 from CNY 278,214,809.88 year-on-year[11]. - The net profit after deducting non-recurring gains and losses was CNY 210,731,909.09, down 19.71% from CNY 262,448,395.67 in the previous year[11]. - The net cash flow from operating activities increased by 7.17% to CNY 325,298,206.94 compared to CNY 303,542,776.40 in the same period last year[11]. - The total assets at the end of the reporting period were CNY 7,769,568,972.51, a 5.62% increase from CNY 7,356,086,010.07 at the end of the previous year[11]. - The net assets attributable to shareholders of the listed company increased by 2.57% to CNY 4,213,134,678.88 from CNY 4,107,620,059.43 at the end of the previous year[11]. - Basic earnings per share decreased by 20.45% to CNY 0.70 from CNY 0.88 in the same period last year[11]. - The weighted average return on net assets was 5.29%, down from 7.09% in the previous year, a decrease of 1.80%[11]. Investment and Growth - The company plans not to distribute cash dividends or bonus shares for this reporting period[2]. - The company reported a total non-recurring profit and loss of ¥11,721,251.44, after accounting for various items including government subsidies and asset disposal losses[13]. - The PCB industry is expected to experience a compound annual growth rate (CAGR) of 5.4% from 2023 to 2028, driven by the recovery of the semiconductor industry and demand from innovative terminal products[15]. - The company focuses on high-value products such as AI servers, which are projected to account for 12.2% of overall server shipments in 2024, with a market value of $187 billion and a growth rate of 69%[17]. - In the automotive electronics sector, the demand for PCBs is expected to continue growing, with a significant increase in new energy vehicle production and sales, achieving a year-on-year growth of 30.1% and 32% respectively in the first half of 2024[18]. - The AIPC market is projected to grow at a CAGR of 44% from 2024 to 2028, with shipments expected to reach 205 million units by 2028, significantly increasing the demand for high-density interconnect (HDI) and multilayer PCBs[19]. - The company has established a global production layout with key bases in Hunan, Guangdong, and Thailand, enhancing its capacity to meet international market demands and mitigate risks from macroeconomic fluctuations[22]. Quality and Innovation - The company emphasizes product quality and has received multiple industry recognitions, including being named a national high-tech enterprise and a model factory for smart manufacturing[23]. - The company achieved breakthroughs in the development of multiple new PCB products, including high copper, automotive, energy boards, power amplifiers, antenna radar, and AI accelerator cards[25]. - The focus on high-end server products includes technological upgrades such as small-pitch BGA, SI database, back-drilling stubs, and alignment accuracy, enabling mass production capabilities[25]. - The company has established a comprehensive digital transformation across procurement, production, quality, and sales, enhancing management efficiency and cost control[26]. - A digital management platform supports real-time, visual, and controllable production resource management, optimizing resource allocation and decision-making[26]. Risk Management - The company has outlined potential risks and countermeasures in the report, emphasizing the importance of investor awareness regarding investment risks[2]. - The company is facing risks from raw material price fluctuations, particularly for copper and other commodities, and is implementing measures to manage these costs[52]. - The company emphasizes quality risk management and customer satisfaction through proactive communication and effective quality management systems[28]. Environmental Management - The company emphasizes environmental management and has obtained ISO14001 certification to mitigate environmental risks associated with its production processes[53]. - The company obtained a pollutant discharge permit on June 16, 2023, valid until June 15, 2028[62]. - The company and its subsidiaries are classified as key pollutant discharge units by environmental protection authorities[60]. - The company has implemented various environmental protection laws and standards, including the Environmental Protection Law and the Air Pollution Prevention Law[60][61]. - The company has made significant technological advancements in the research and development of products related to new energy vehicles and various control systems[25]. Shareholder Information - The annual shareholders' meeting had a participation rate of 72.72% on May 16, 2024[55]. - A total of 26 employees, including directors and senior management, hold 29,400 shares, representing 0.01% of the company's total equity[59]. - The company has no other equity incentive plans besides the existing employee stock ownership plan during the reporting period[58]. - The total number of shareholders at the end of the reporting period was 22,159, with the largest shareholder holding 50.42% of the shares[83]. - The largest shareholder, Shenzhen Beidian Investment Co., Ltd., holds 160,000,000 shares, which are pledged[83]. Financial Position - Total liabilities increased to CNY 3,556,434,293.63, up from CNY 3,248,465,950.64, representing a growth of 9.5%[100]. - Total equity rose to CNY 4,213,134,678.88 from CNY 4,107,620,059.43, an increase of 2.6%[100]. - The company reported a net profit margin improvement, with undistributed profits increasing to CNY 1,711,053,295.54 from CNY 1,598,471,687.79, a growth of 7.0%[100]. - The company’s total liabilities to equity ratio stands at approximately 0.84, indicating a stable leverage position[100]. Accounting and Reporting - The financial report for the half-year period was not audited[96]. - The company follows the accounting standards issued by the Ministry of Finance for financial reporting[126]. - The financial statements reflect the company's financial position and operating results accurately[129]. - The company adopts RMB as its accounting currency, while overseas subsidiaries use the currency of their primary economic environment[132]. - The company recognizes investment income from the difference between the fair value and book value of equity investments when losing control over subsidiaries[139].