Financial Performance - The company reported a revenue of ¥3,158,278,470.38, an increase of 8.84% compared to the same period last year[26]. - The net profit attributable to shareholders was -¥240,383,777.80, a decrease of 138.77% year-over-year[26]. - The gross profit margin fell to -2.01%, down from 29.77% in the previous year[26]. - Operating revenue for the current period was CNY 3,158,278,470.38, an increase of 8.84% from CNY 2,901,825,489.98 in the same period last year[46]. - The company’s net profit for the current period was a loss of CNY 240,383,777.80, a decrease of 139.28% compared to a profit of CNY 611,974,231.04 in the same period last year[46]. - The comprehensive gross margin for the company was -2.01% in the first half of 2023, down from 10.63% in the second half of 2022 and 29.77% in the first half of 2022[71]. - The net profit for the first half of 2023 was -139,335,277.44 CNY, compared to a net profit of 648,430,400.01 CNY in the same period of 2022, indicating a significant decline[129]. - The total comprehensive income for the first half of 2023 was -139,335,277.44 CNY, compared to 648,430,400.01 CNY in the first half of 2022[129]. Cash Flow and Financing - The net cash flow from operating activities was -¥555,237,652.67, a significant decline of 3,887.82% compared to the previous year[28]. - Cash flow from financing activities increased by 76.75% year-on-year, mainly due to funds raised from the company's listing on the Beijing Stock Exchange and increased cash from borrowings[55]. - The cash inflow from financing activities in the first half of 2023 was 1,407,548,131.92 CNY, compared to 659,943,506.88 CNY in the first half of 2022, indicating an increase of approximately 113.3%[133]. - The company’s short-term borrowings increased by 180.46% from the previous year, reaching 701.16 million RMB, indicating a significant rise in financing needs[43]. - The cash outflow for purchasing goods and services in the first half of 2023 was 2,964,325,320.96 CNY, compared to 2,000,550,431.64 CNY in the first half of 2022, representing an increase of approximately 48.1%[131]. Assets and Liabilities - Total assets decreased by 8.08% to ¥5,488,106,334.38, while total liabilities decreased by 23.76% to ¥2,735,441,882.37[27]. - The company reported a total of 3,075,267,356.14 CNY in current assets as of June 30, 2023, a decrease from 3,922,231,030.73 CNY as of December 31, 2022, representing a decline of approximately 21.6%[115]. - Total liabilities decreased from ¥3,588,089,838.84 in December 2022 to ¥2,735,441,882.37 in June 2023, a decline of approximately 23.8%[118]. - The company’s long-term borrowings increased to ¥329,000,000.00 from ¥315,000,000.00, indicating a slight rise in debt obligations[122]. Shareholder Information - The company raised 650 million RMB by issuing 50 million shares during its listing on March 23, 2023[4]. - The total share capital of the company is 611,510,821 shares, with no preferred shares issued[20]. - The controlling shareholder is Liu Guoan, holding 69,838,558 shares, representing 11.42% of the total shares[97]. - The actual controller is the Liu Jianbo family, with a total of 138,531,102 shares controlled, accounting for 22.65% of the total shares[98]. - The top five customers accounted for 83.63% of the annual revenue, indicating a high customer concentration risk[15]. Business Operations and Strategy - The company aims to turn losses into profits by enhancing technology research and development and improving product quality[36]. - The company plans to optimize production processes to reduce costs and improve product competitiveness[36]. - The company is positioned to capitalize on growth opportunities in the new energy vehicle and energy storage sectors through continuous product development[33]. - The company has established a complete process from precursor phosphates to cathode materials, enhancing its ability to meet customer needs[33]. - The company is actively seeking long-term partnerships for key raw materials to mitigate supply and price volatility risks[15]. Research and Development - Research and development expenses increased by 39.40% year-on-year, mainly due to significant increases in share-based payments[47]. - The company emphasizes continuous R&D investment to enhance product technology performance and reduce manufacturing costs[15]. Market Conditions - In the first half of 2023, the average price of battery-grade lithium carbonate dropped from 525,000 RMB per ton at the beginning of the year to 312,400 RMB per ton by June 30, marking a decrease of 40.5%[40]. - The average profit margin in the lithium iron phosphate industry has declined, with losses becoming a common phenomenon in the first half of 2023 due to fluctuating raw material prices[40]. - The energy storage battery market in China is projected to exceed 300 GWh in shipments by 2025, driven by government support and market demand[42]. Corporate Governance - The company has not faced any delisting risks as per the report[10]. - The company’s financial report has not been audited by an accounting firm[8]. - The board of directors consists of 9 members, while the supervisory board has 3 members[102]. - The company has not experienced any changes in its board of directors or senior management during the reporting period[106]. Environmental and Community Engagement - The company has not faced any environmental violations during the reporting period[65]. - The company has made a donation of CNY 50,000 to support local community activities[63].
安达科技(830809) - 2023 Q2 - 季度财报