英可瑞(300713) - 2018 Q2 - 季度财报

Financial Performance - Total revenue for the first half of 2018 was CNY 121,560,299.96, a decrease of 13.20% compared to CNY 140,050,483.67 in the same period last year[18]. - Net profit attributable to shareholders was CNY 32,653,271.45, down 13.17% from CNY 37,607,650.47 year-on-year[18]. - Net profit after deducting non-recurring gains and losses was CNY 29,145,250.64, representing an 18.62% decline from CNY 35,812,686.01 in the previous year[18]. - The net cash flow from operating activities was negative CNY 9,873,477.57, a significant decrease of 162.12% compared to CNY 15,894,093.36 in the same period last year[18]. - Basic earnings per share decreased by 30.61% to CNY 0.34 from CNY 0.49 in the previous year[18]. - The company reported a total profit of ¥36,049,177.35, a decrease of 16.12% compared to the same period last year[48]. - The company reported a net profit margin of 18.5%, reflecting a stable financial performance amidst market fluctuations[83]. - The company reported a total current asset of CNY 813.13 million, down from CNY 856.02 million, a decline of approximately 5%[167]. - The company reported a total of CNY 27,340,000.0 in other comprehensive income[190]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 956,789,612.41, an increase of 5.28% from CNY 908,838,719.64 at the end of the previous year[18]. - The company’s total assets increased significantly, with cash and cash equivalents representing 34.09% of total assets, up from 18.55% in the previous year[65]. - The total amount of cash and cash equivalents decreased by 1,074.75% to CNY -141,515,967.72, mainly due to the purchase of structured deposits with idle raised funds[57]. - The company’s total liabilities amounted to CNY 191.37 million, a decrease from CNY 197.98 million, reflecting a decline of about 3.4%[168]. - The company’s retained earnings increased to CNY 215.35 million from CNY 189.86 million, an increase of approximately 13.4%[173]. Investments and Acquisitions - The company acquired 51% of Changsha Guangyi Converter Technology Co., Ltd. for CNY 68 million, making it a subsidiary[35]. - The company plans to invest in the smart high-frequency switching power supply industrialization project and the R&D center, with a total investment of ¥68,000,000 for acquiring 51% of Guangyi Power Conversion[53]. - The company is exploring potential mergers and acquisitions to enhance its product portfolio and market presence, with a budget allocation of 1,200 million for this initiative[84]. - The company completed the acquisition of 51% equity in Changsha Guangyi Converter Technology Co., Ltd. for a total of RMB 68 million, aiming to enhance its business scale and capabilities[99]. Research and Development - The company plans to enhance its R&D efforts, particularly in high-power efficient automotive charging power products and DC-DC power supplies[34]. - The R&D team consists of 69 members, accounting for 26.64% of the total workforce, focusing on innovative product development[42]. - Research and development expenses increased by 58.65% to CNY 12,168,563.78, reflecting the company's commitment to enhancing its R&D capabilities[57]. - The company is committed to enhancing its research and development capabilities to maintain its competitive edge in the technology-intensive industry[96]. Market Strategy and Expansion - The company aims to expand its market presence in electric vehicle charging and power operation modules, targeting high-performance product development[35]. - The company is focused on expanding its market share in power supply modules and automotive charging systems, despite facing intensified market competition[94]. - Market expansion plans include entering three new international markets by the end of 2018, targeting a 10% market share in each[84]. - The company is considering strategic acquisitions to enhance its technology capabilities, with a budget of 500 million RMB earmarked for potential deals[110]. Shareholder and Dividend Policies - The company plans not to distribute cash dividends or issue bonus shares[5]. - The board has approved a dividend policy that ensures a minimum payout ratio of 30% of net profits, reinforcing its commitment to shareholder returns[110]. - The company plans to distribute cash dividends of RMB 1.00 per share, totaling RMB 5,312,500, and will increase its total share capital to 95,625,000 shares after a capital reserve conversion of 8 shares for every 10 shares held[144]. - The company has a cash dividend policy that allows for mid-term cash dividends under certain conditions, including profitability and positive cash flow[111]. Operational Efficiency - The company has implemented cost-cutting measures that are expected to reduce operational expenses by 5% in the upcoming fiscal year[84]. - The company aims to improve operational efficiency, targeting a reduction in costs by 5% through process optimization initiatives[110]. - The company has established long-term partnerships with suppliers to improve manufacturing processes and reduce procurement costs[43]. Compliance and Governance - The company emphasizes compliance with regulatory requirements and transparency in its financial reporting practices to maintain investor confidence[110]. - The company committed to ensuring that its application documents do not contain false records, misleading statements, or significant omissions, and will bear legal responsibility for their authenticity, accuracy, completeness, and timeliness[108]. - The company will ensure that all documents related to its initial public offering are accurate and complete, and will bear legal responsibility for any discrepancies[108]. Risks and Challenges - The company faces risks related to declining gross margins due to increased competition and rising costs of raw materials, necessitating ongoing innovation and cost management[93]. - The company is actively monitoring raw material price fluctuations to manage production costs effectively[95]. - The company is addressing management risks associated with its rapid expansion and the need for effective governance and talent acquisition[100].