Financial Performance - The company's operating revenue for the first half of 2024 was ¥57,630,652.33, a decrease of 56.76% compared to ¥133,287,340.72 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was -¥28,076,548.41, representing a decline of 195.77% from ¥29,317,591.15 in the previous year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥34,789,378.78, a decrease of 236.35% compared to ¥25,515,202.53 in the same period last year[18]. - The net cash flow from operating activities was -¥22,330,727.26, compared to -¥1,138,353.59 in the previous year, indicating a significant deterioration[18]. - The net assets attributable to shareholders at the end of the reporting period were ¥981,715,217.89, down 3.97% from ¥1,022,318,082.17 at the end of the previous year[18]. - Total assets at the end of the reporting period were ¥1,030,518,721.44, a decrease of 3.36% from ¥1,066,314,809.40 at the end of the previous year[18]. - Basic earnings per share decreased to -0.3810 yuan, a decline of 171.82% compared to the same period last year[19]. - The weighted average return on net assets dropped to -2.78%, a decrease of 11.05 percentage points year-on-year[19]. Research and Development - Research and development expenses accounted for 43.35% of operating revenue, an increase of 30.29 percentage points compared to the previous year[19]. - The company achieved a total R&D investment of ¥24,980,049.67, representing a 43.58% increase compared to ¥17,398,223.70 in the same period last year[34]. - The company obtained 21 new patents during the reporting period, including 19 invention patents and 2 utility model patents, bringing the total authorized patents to 109[33]. - The company has developed core technologies that maintain international advanced levels, including high-voltage MOSFET technology and new composite terminal structures[31]. - The company has developed several new products, including 650V, 900V, 1200V, and 1700V SiC MOSFETs, with ongoing reliability assessments for 2600V and 3300V products[37]. - The company has a strong market competitiveness due to its self-developed core technologies, which have not undergone significant changes during the reporting period[30]. Corporate Governance - The board of directors and management confirm the accuracy and completeness of the financial report, which has not been audited[4]. - There are no special arrangements for corporate governance or significant matters reported[7]. - The company has not violated decision-making procedures for external guarantees[7]. - The company emphasizes the importance of internal controls and governance to protect shareholder interests and ensure sustainable development[49]. Risk Factors - The company has outlined potential risks in the "Management Discussion and Analysis" section, specifically in the "Risk Factors" part[3]. - The company is facing risks of significant revenue fluctuations due to market demand changes, intensified industry competition, and product updates[50]. - There is a risk of core technology leakage, which could undermine the company's competitive advantage in the semiconductor industry[50]. - The semiconductor industry is currently in a state of oversupply, leading to price declines and increased operational costs for the company[50]. Shareholder Information - The company plans to distribute a cash dividend of 1 yuan (including tax) for every 10 shares, totaling approximately 7.37 million yuan based on a total share capital of 73,684,211 shares as of June 30, 2024[5]. - The profit distribution plan has been approved by the board and will be submitted for shareholder meeting approval[5]. - The company has committed to a continuous and stable profit distribution policy, prioritizing cash dividends, with a minimum of 10% of the distributable profit allocated as cash each year[128]. - The company will ensure compliance with legal regulations when adjusting profit distribution policies[131]. Financial Management - The company has committed to strict management of raised funds to enhance efficiency and accelerate project construction[135]. - The company has initiated cash management for idle fundraising, with an effective approval amount of RMB 60,000 million, and a cash management balance of RMB 36,000 million at the end of the reporting period[165]. - The company reported a total fundraising amount of ¥752,131,593.99, with a net amount after deducting issuance costs of ¥664,798,921.90[161]. - The company has not engaged in any significant asset or equity acquisitions or disposals during the reporting period[159]. Market Position - The company operates in the power semiconductor industry, which is a crucial part of the semiconductor supply chain, emphasizing the integration of chip design and manufacturing processes[23]. - The company adopts a Fabless business model, outsourcing wafer manufacturing and packaging, allowing it to focus on chip design and product sales[25][26]. - The sales model primarily consists of direct sales to well-known chip design companies, supplemented by a buyout-based distribution model[29]. - The company has expanded its customer base to over 400 clients, focusing on high-reliability applications in industrial control and new energy sectors[44]. Environmental Responsibility - The company has established an environmental protection mechanism but did not invest any funds in environmental protection during the reporting period[73]. - The company and its subsidiaries are not classified as key pollutant discharge units and have not faced any administrative penalties related to environmental issues[73]. - The company has not taken any carbon reduction measures during the reporting period[75]. Legal and Compliance - The company guarantees that the prospectus and other disclosure materials submitted to the China Securities Regulatory Commission and Shanghai Stock Exchange do not contain false records, misleading statements, or major omissions, and will bear legal responsibility for their authenticity, accuracy, completeness, and timeliness[118]. - The company will compensate investors for any losses caused by the failure to fulfill commitments, as per legal requirements[122]. - The company has committed to reducing or avoiding related party transactions, ensuring fairness and market pricing principles are followed[155].
锴威特(688693) - 2024 Q2 - 季度财报