江海股份(002484) - 2014 Q2 - 季度财报

Financial Performance - The company achieved operating revenue of ¥567,328,214.84, representing a year-on-year increase of 11.02%[28] - Net profit attributable to shareholders reached ¥76,440,706.50, reflecting a growth of 26.69% compared to the previous year[28] - The net cash flow from operating activities surged by 260.02% to ¥99,662,205.81, attributed to extended credit terms with suppliers[30] - The basic earnings per share decreased by 20.82% to ¥0.2297[20] - The weighted average return on equity improved to 5.12%, up from 4.35% in the previous year[20] - The company reported a net profit attributable to shareholders for the first nine months of 2014 expected to range from 115.04 million to 134.21 million RMB, representing a year-on-year increase of 20% to 40%[54] - The company reported a significant increase in capacitor market demand, with a focus on the development of film capacitors and polymer capacitors[60] - The company reported a net profit for the first half of 2014 reached CNY 78,770,226.18, representing a 22.5% increase from CNY 64,388,193.98 in the previous year[110] - The company’s net profit for the current period is 124,102,170 RMB, reflecting a significant increase compared to the previous year[132] Assets and Liabilities - Total assets as of June 30, 2014, amounted to ¥1,839,082,060.82, an increase of 1.29% from the end of the previous year[28] - The total assets of the subsidiary Mianyang Jianghai reached 568.14 million RMB, with a net profit of 13.27 million RMB for the reporting period[50] - The subsidiary Inner Mongolia Haili reported total assets of 1.37 billion RMB and a net profit of 73.84 million RMB[50] - The total assets of the company reached RMB 1.2 billion, reflecting a 10% increase compared to the previous year[146] - Total liabilities decreased to CNY 237,567,008.07 from CNY 263,340,677.39, a reduction of approximately 9.8%[104] - The total liabilities at the end of the reporting period were CNY 1.46 billion, reflecting a stable financial position[128] Investments and Capital - Total raised funds amounted to ¥82,000,000, with ¥6,641.3 million invested during the reporting period[42] - Cumulative investment of raised funds reached ¥59,945.47 million, with 11.99% of funds repurposed[42] - The company has invested CNY 61.2 million in the medium and high-voltage capacitor project, with a total investment of CNY 200 million planned for establishing Nantong Xinjianghai Power Electronics Co., Ltd[45] - The company has permanently supplemented working capital with all remaining raised funds amounting to CNY 62.55 million, including principal and interest, as of October 17, 2013[45] - The company has allocated 18,615,326 RMB to surplus reserves, demonstrating a commitment to financial stability and growth[134] - The registered capital of the company has been increased to 332,800,000 RMB following the capital reserve conversion plan approved in 2013[136] Market and Product Development - The company is focusing on expanding its market presence in aluminum electrolytic capacitors and film capacitors[29] - The company's revenue from electronic components reached ¥468,529,766.11, with a year-on-year increase of 10.01%[33] - The gross profit margin for electronic components was 25.56%, an increase of 3.71% compared to the previous year[33] - Revenue from electronic materials was ¥83,419,104.16, reflecting a significant year-on-year growth of 26.34%[33] - The production base for film capacitors is progressing rapidly, with breakthroughs in product technology and market expansion[31] - The company is currently focusing on expanding production capacity and improving product performance in its polymer solid aluminum electrolytic capacitor project[45] Shareholder Information - The company plans to distribute a cash dividend of 1.5 RMB per 10 shares, totaling 31.2 million RMB, based on the 2013 net profit of 129.17 million RMB[56] - The company’s total capital reserve was 809.91 million RMB, with a plan to convert capital reserves into additional shares at a ratio of 6 shares for every 10 shares held[56] - The total number of shares increased from 208 million to 332.8 million due to a capital reserve conversion, adding 124.8 million shares[90] - The company maintains a commitment to distribute at least 10% of the distributable profits as cash dividends annually[84] - The total number of ordinary shareholders at the end of the reporting period is 11,430[92] Governance and Compliance - The company has a structured governance framework, including a shareholders' meeting, board of directors, and supervisory board, ensuring effective oversight and decision-making[137] - The company has maintained compliance with accounting standards, ensuring that financial statements accurately reflect its financial position and performance[139] - The company did not undergo any changes in its board of directors, supervisors, or senior management during the reporting period[98] - The financial report for the first half of 2014 was not audited[100] Cash Flow and Financial Management - Cash flow from operating activities was CNY 523,960,614.71, compared to CNY 498,257,615.58 in the previous period, showing an increase of 5.2%[115] - The net cash flow from operating activities increased to ¥99,662,205.81, compared to ¥27,682,272.60 in the previous period, reflecting a significant improvement[116] - The company paid out ¥34,355,934.29 in dividends and interest during the period, compared to ¥17,435,949.15 in the previous period[117] - The ending balance of cash and cash equivalents decreased to ¥494,406,448.86 from ¥567,913,069.43[117] Accounting Policies - The company has established criteria for recognizing impairment losses on financial assets, ensuring accurate financial reporting[156] - The company uses a straight-line method for depreciation of fixed assets, with specific depreciation rates: buildings at 4.75%, machinery at 9.5%, and electronic and transportation equipment at 19%[171] - The company recognizes revenue from sales of goods when the significant risks and rewards of ownership have transferred to the buyer[193] - The company adopts the cost method for subsequent measurement of long-term equity investments, recognizing investment income when cash dividends or profits are declared by the invested entity[165]