Financial Performance - The group achieved total operating revenue of RMB 33.457 billion in the first half of 2024, an increase of 11.84% compared to the same period last year[3]. - The net profit attributable to shareholders of the parent company for the first half of 2024 was RMB 1.691 billion, a decrease of 15.52% year-on-year[3]. - Earnings per share for the first half of 2024 were RMB 0.54, down from RMB 0.64 in the same period last year[3]. - Operating profit for the first half of 2024 was CNY 2,110,327,011.43, a decrease of 9.4% from CNY 2,329,548,256.58 in the same period of 2023[15]. - The company reported a total income tax expense of CNY 298,136,651.64 for the six months ended June 30, 2024, compared to CNY 230,333,499.86 for the same period in 2023, marking an increase of 29.4%[27]. - The company reported a significant increase of 301.67% in cash flow from financing activities, mainly due to increased borrowings[55]. Assets and Liabilities - As of June 30, 2024, total current assets amounted to RMB 83.666 billion, an increase from RMB 75.689 billion at the end of 2023[4]. - Total non-current assets as of June 30, 2024, were RMB 47.905 billion, up from RMB 45.419 billion at the end of 2023[5]. - Total assets reached RMB 131.570 billion as of June 30, 2024, compared to RMB 121.108 billion at the end of 2023[5]. - Total current liabilities increased to RMB 80.799 billion as of June 30, 2024, from RMB 71.249 billion at the end of 2023[7]. - Long-term borrowings rose to RMB 2.071 billion as of June 30, 2024, compared to RMB 1.383 billion at the end of 2023[9]. - The asset-liability ratio stood at 68.49%, an increase of 2.53 percentage points from the beginning of the year, indicating manageable asset structure risk[69]. Research and Development - Research and development expenses increased to CNY 1,347,828,439.49, representing a 25.8% rise compared to CNY 1,070,700,313.76 in the previous year[13]. - The company has established the Chengdu Innovation Research Institute and the Japan Energy Research Institute to strengthen technological innovation[46]. - The company plans to establish a technology achievement incubation pool to support innovative results with clear market value[76]. Orders and Revenue Growth - The group added new orders amounting to RMB 56.073 billion in the first half of 2024[3]. - The company’s revenue from foreign trade for the first half of 2024 was RMB 33,457,011,207.05, compared to RMB 29,915,296,549.01 in the same period of 2023, showing a growth of approximately 11.4%[32][34]. - In the first half of 2024, the company achieved new effective orders amounting to RMB 56.073 billion, representing a year-on-year increase of 14.77%[44]. Employee and Compensation - As of June 30, 2024, the total number of employees in the company is 18,104[87]. - The total employee compensation paid during the reporting period amounts to RMB 1,363.91 million[87]. - The company has implemented a performance management system to enhance management efficiency and effectiveness[89]. Market Position and Strategy - The company continues to maintain a strong competitive position in the high-end energy equipment industry, providing services and products across nearly 80 countries and regions globally[37]. - The company aims to enhance market development capabilities, technological innovation capabilities, risk control capabilities, and resource integration capabilities in the second half of 2024[80]. - The company will strengthen international market expansion and energy transition research, focusing on key regional markets and products to support overseas projects[73]. Dividends and Share Capital - The board of directors does not recommend the distribution of an interim dividend for the first half of 2024[3]. - The total share capital of the company as of June 30, 2024, is RMB 3,117,499,457, consisting of 2,777,499,457 A-shares and 340,000,000 H-shares[81]. - The company repurchased and canceled a total of 1,034,340 A-shares during the reporting period[83].
东方电气(01072) - 2024 - 中期业绩