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国鸿氢能(09663) - 2024 - 中期业绩
SINOSYNERGYSINOSYNERGY(HK:09663)2024-08-30 13:42

Financial Performance - Total revenue for the six months ended June 30, 2024, was approximately RMB 133.0 million, a decrease of 37.3% compared to the previous period[1]. - Loss attributable to owners of the company for the same period was approximately RMB 212.3 million, compared to a loss of RMB 124.3 million in the previous period[1]. - Basic loss per share was RMB 0.41, compared to RMB 0.30 in the previous period[1]. - Gross profit for the six months ended June 30, 2024, was RMB 770,000, significantly lower than RMB 36.9 million in the previous period[2]. - Operating loss for the period was RMB 207.96 million, compared to RMB 95.41 million in the previous period[2]. - The company's gross profit decreased from approximately RMB 36.9 million to about RMB 0.8 million, with the gross margin dropping from 17.4% to 0.6%[45]. - The company reported a net impairment loss on financial assets and contract assets increased from approximately RMB 25.0 million to about RMB 44.6 million, primarily due to an increase in expected credit loss provisions for trade receivables[48]. Revenue Breakdown - Revenue from hydrogen fuel cell systems was RMB 130,939 thousand, down 37.1% from RMB 208,370 thousand in the previous year[15]. - The total revenue for the six months ended June 30, 2024, was RMB 133,012 thousand, a decrease of 37.3% compared to RMB 212,271 thousand for the same period in 2023[15]. - Sales volume of hydrogen fuel cell systems decreased from 59,790.0 kW in the previous period to 34,645.0 kW in the reporting period, while sales volume of hydrogen fuel cell stacks dropped from 1,053.4 kW to 240.0 kW[42]. - The average selling price of hydrogen fuel cell systems increased from RMB 3,484.2 per kW to RMB 3,779.4 per kW, while the average selling price of hydrogen fuel cell stacks rose from RMB 1,692.6 per kW to RMB 1,799.4 per kW[42]. Assets and Liabilities - Total assets as of June 30, 2024, amounted to RMB 4,920.87 million, an increase from RMB 4,863.52 million as of December 31, 2023[4]. - Total liabilities as of June 30, 2024, were RMB 1,706.24 million, compared to RMB 1,472.66 million as of December 31, 2023[5]. - Cash and cash equivalents were RMB 277.84 million as of June 30, 2024, compared to RMB 604.72 million as of December 31, 2023[5]. - Trade receivables as of June 30, 2024, amounted to RMB 1,990,271,000, an increase from RMB 1,927,473,000 as of December 31, 2023, showing a growth of approximately 3.2%[25]. - Trade payables amounted to RMB 717,414,000 as of June 30, 2024, a decrease from RMB 773,700,000 as of December 31, 2023, reflecting improved cash flow management[29]. Expenses - Employee benefits expenses increased to RMB 105,765 thousand, up 14.4% from RMB 92,494 thousand in the previous year[17]. - Administrative expenses increased from approximately RMB 86.7 million to about RMB 113.5 million, primarily due to increased depreciation expenses related to production facility construction[49]. - Research and development expenses exceeded RMB 65.3 million, representing a year-on-year increase of 34.1%[37]. - Financing costs netted approximately RMB 6.1 million during the reporting period, compared to a net financing income of about RMB 2.1 million in the previous period, mainly due to increased borrowing costs[52]. Corporate Actions and Governance - The board has resolved not to declare any interim dividend for the reporting period[1]. - The company will not declare an interim dividend for the reporting period[71]. - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange listing rules and has complied with all applicable provisions during the reporting period[72]. - The H shares of the company are set to be listed on the Hong Kong Stock Exchange on December 5, 2023[7]. Strategic Initiatives - The company is currently evaluating the impact of new accounting standards that will take effect in future periods[11]. - The company plans to focus on upgrading core product research and development, including high-efficiency hydrogen fuel cell stacks and systems[61]. - The company aims to enhance its management and operational efficiency through continuous talent recruitment and training[62]. - The company intends to expand production capacity based on regional hydrogen energy industry policies and market demands[64]. - The company successfully entered the list of suppliers for BASF's hydrogen energy truck logistics project in Greater China, supporting low-carbon logistics[36]. Market and Product Development - The new generation GIII fuel cell stack achieved a rated performance of 1.3 W/cm², an improvement of over 20% compared to the previous generation[37]. - The company launched the new high-power Hongxin GIII series stacks and Hongtu H series systems, with single stack power exceeding 200 kW[35]. - The company is developing breakthrough technologies for megawatt-level proton exchange membrane (PEM) electrolyzers and 1,000 Nm³ alkaline electrolyzers to enhance hydrogen production efficiency[38]. - The proportion of R&D personnel reached approximately 37% of the total workforce, with a 15% increase in employees holding a bachelor's degree or higher compared to the same period in 2023[39].