SACO(SZ:002025)2015-08-24 16:00Financial Performance - The company achieved total operating revenue of ¥900,677,082.95, an increase of 11.32% compared to the same period last year[26]. - Net profit attributable to shareholders reached ¥112,426,504.89, reflecting a growth of 17.38% year-on-year[18]. - Operating profit was reported at ¥140,836,061.61, which is a 17.22% increase from the previous year[26]. - The net cash flow from operating activities improved to ¥81,175,835.87, marking a significant increase of 42.57% compared to the same period last year[28]. - The company's operating revenue for the reporting period was ¥900,677,082.95, representing an increase of 11.32% compared to the same period last year[29]. - The operating cost increased to ¥529,823,532.40, reflecting a year-on-year growth of 6.83%[29]. - The company expects a net profit attributable to shareholders for the first nine months of 2015 to be between ¥15,200,000 and ¥17,370,000, representing a growth of 5.00% to 20.00% compared to the previous year[49]. - The gross profit margin in the electronic components industry was 41.30%, an increase of 2.49% year-on-year[34]. - For the first half of 2015, the company's earnings per share (EPS) was 0.26 RMB, adjusted from the previous year's EPS of 0.22 RMB based on the new total share count[89]. - The net profit for the first half of 2015 was CNY 80,958,288.22, an increase of 3.6% compared to CNY 78,539,053.70 in the same period of 2014[119]. Research and Development - Research and development expenses rose to ¥75,977,123.26, up 11.28% year-on-year, indicating a continued focus on new product development[27]. - Research and development investment rose to ¥75,977,123.26, marking an increase of 11.28% year-on-year[29]. Assets and Liabilities - The company's total assets increased by 9.03% to ¥3,088,207,702.09 compared to the end of the previous year[18]. - The total assets of Guizhou Aerospace Electric Co., Ltd. as of June 30, 2015, amounted to CNY 3,088,207,702.09, an increase from CNY 2,832,369,349.58 at the beginning of the period, reflecting a growth of approximately 9.05%[106]. - The company's total liabilities increased to CNY 897,816,978.73 from CNY 697,895,639.90, representing a rise of about 28.67%[107]. - Current assets totaled CNY 2,364,673,722.41, up from CNY 2,139,844,542.83, indicating an increase of approximately 10.51%[106]. - The company's inventory increased to CNY 367,760,570.08 from CNY 344,319,613.63, reflecting a growth of about 6.84%[106]. - The total liabilities increased to ¥589,867,567.08 from ¥406,006,589.47, indicating a rise of approximately 45%[112]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares for this period[7]. - The total number of shares increased from 330,000,000 to 429,000,000 due to the board of directors' election and changes in management[86]. - The largest shareholder, Guizhou Aerospace Industry Co., Ltd., holds 41.65% of the shares, totaling 178,666,306 shares[90]. - The total number of ordinary shareholders at the end of the reporting period was 32,914[90]. Cash Flow - The net cash flow from investing activities improved by 35.34%, with a net outflow of ¥29,822,905.55, indicating reduced cash payments for equipment procurement[31]. - Cash flow from operating activities generated a net amount of CNY 81,175,835.87, compared to CNY 56,938,339.67 in the previous year, indicating a significant increase of 42.5%[121]. - The company reported a net cash outflow from investing activities of CNY 29,822,905.55, an improvement from a net outflow of CNY 46,121,335.60 in the previous year[123]. Management and Governance - The company appointed new executives, including a new vice chairman and several vice general managers, as part of its board restructuring on May 17, 2015[99]. - The company has not undergone any significant transactions or contracts during the reporting period[79]. - The half-year financial report has not been audited[81]. Related Party Transactions - The total amount of related party transactions for sales of products was 113.15 million CNY, accounting for 12.56% of the total sales[67]. - The company reported a related party transaction amount of 1.16 million CNY for procurement of goods and 341.22 thousand CNY for water and electricity services during the reporting period[67]. Accounting Policies - The company adheres to the Chinese Accounting Standards, ensuring that the financial statements accurately reflect its financial position and operating results as of June 30, 2015[145]. - The company recognizes financial instruments, including financial assets, financial liabilities, and equity instruments, at fair value upon initial recognition[160]. - The company applies a percentage-based method for estimating bad debt provisions based on aging analysis, with rates of 5% for receivables within 1 year and 100% for those over 5 years[173]. Investment and Capital Expenditure - The company has ongoing investments in fixed assets, which increased to ¥98,270,598.12 from ¥88,304,722.51, showing a growth of approximately 11%[111]. - The company recognizes fixed assets when economic benefits are likely to flow to the enterprise and the cost can be reliably measured[195]. - The company recognizes borrowing costs as expenses in the current period unless they meet the criteria for capitalization[200].