Financial Performance - The company's operating revenue for the first half of 2024 was ¥213,671,459.75, representing a 3.30% increase compared to ¥206,850,319.25 in the same period last year[11]. - The net profit attributable to shareholders of the listed company decreased by 78.86% to ¥5,722,062.35 from ¥27,072,185.69 year-on-year[11]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 69.70% to ¥3,459,731.88 from ¥11,418,664.36 in the previous year[11]. - The net cash flow from operating activities increased by 12.21% to ¥15,701,983.45 compared to ¥13,993,267.20 in the same period last year[11]. - Total assets at the end of the reporting period were ¥1,167,093,799.32, down 8.20% from ¥1,271,402,099.07 at the end of the previous year[11]. - The net assets attributable to shareholders of the listed company decreased by 3.05% to ¥959,492,259.33 from ¥989,626,856.98 at the end of the previous year[11]. - Basic earnings per share dropped by 76.92% to ¥0.06 from ¥0.26 in the same period last year[11]. - Diluted earnings per share also fell by 76.92% to ¥0.06 from ¥0.26 year-on-year[11]. - The weighted average return on net assets decreased to 0.58% from 2.68% in the previous year, a decline of 2.10%[11]. Research and Development - The company invested 16.15 million yuan in R&D during the first half of 2024, representing 7.56% of operating revenue, with a R&D team of 129 people, accounting for 11.61% of total employees[39]. - Research and development investment rose by 19.97% to ¥16,149,631.65, up from ¥13,461,519.38, indicating a focus on innovation[43]. - The company is committed to increasing R&D investment to keep pace with new technology requirements and continuously launch new products[70]. Product and Market Focus - The company specializes in low-voltage electrical products, including relays, distribution control, and electrical transmission and control systems, serving various industries such as machinery manufacturing and renewable energy[16]. - The product range includes over ten thousand varieties, with key categories such as relays, distribution control, and electrical transmission[17]. - The company’s product development focuses on automation and control, ensuring safety and reliability in electrical systems[21]. - The company focuses on developing and producing advanced servo drives, which utilize vector control algorithms for precise position and speed control, widely applied in various automation fields[24]. - The company has launched numerous new products in the renewable energy sector, including high-voltage DC relays and surge protectors, supporting green energy development[40]. Financial Management - The company has implemented a production management system that organizes production based on customer orders, enhancing efficiency in manufacturing processes[32]. - The company employs a direct procurement model for raw materials, ensuring compliance with technical and quality requirements through rigorous supplier evaluation processes[31]. - The company plans to strengthen raw material price monitoring and inventory management to respond effectively to market price changes[71]. - The company has committed to invest ¥270,030,000 in the industrial automation control electrical components smart manufacturing factory project, with 65.70% of the investment completed[55]. Shareholder and Equity Information - The company approved a cash dividend of 3.5 RMB per 10 shares (including tax) for the 2023 profit distribution plan, based on a total share capital of 102,447,600 shares[103]. - The total number of shareholders at the end of the reporting period is 8,412[108]. - The largest shareholder, Hu Zhixing, holds 16.81% of the shares, totaling 17,225,016 shares[109]. - The second-largest shareholder, Hu Zhilin, also holds 16.81% of the shares, totaling 17,225,015 shares[109]. Risks and Challenges - The company faces risks from fluctuations in raw material prices, which significantly impact gross profit margins due to the high proportion of direct materials in total costs[68]. - The domestic low-voltage electrical market is highly competitive, with strong multinational companies and local firms coexisting, leading to intensified competition[69]. - The company is at risk of losing customer resources and market share if it fails to respond timely to new technology trends and diverse product demands[70]. Compliance and Governance - The company has fulfilled all commitments made by actual controllers, shareholders, and related parties during the reporting period[80]. - There were no non-operating fund occupation situations by controlling shareholders or related parties during the reporting period[82]. - The company has not reported any significant litigation or arbitration matters during the reporting period[85]. Financial Reporting and Audit - The company’s financial report for the first half of 2024 has not been audited[115]. - The financial statements have been prepared in accordance with the relevant accounting standards and regulations[144]. - The company's financial report was approved by the board of directors on August 28, 2024[143].
欣灵电气(301388) - 2024 Q2 - 季度财报