锡装股份(001332) - 2025 Q2 - 季度财报

Important Notice, Table of Contents, and Definitions This section contains the company's semi-annual report important notice, detailed table of contents, and key term definitions, with the board, supervisory board, and senior management guaranteeing report content truthfulness, accuracy, and completeness, and a proposed cash dividend of CNY 3 (tax inclusive) per 10 shares - The company's board of directors, supervisory board, and senior management declare and guarantee the truthfulness, accuracy, and completeness of the semi-annual report content and assume legal responsibility[3] - Chairman Cao Honghai and Chief Accountant Xu Gaoshang declare and guarantee the truthfulness, accuracy, and completeness of the financial report[3] 2025 Semi-Annual Profit Distribution Plan | Indicator | Content | | :--- | :--- | | Distribution Plan | CNY 3 (tax inclusive) cash dividend per 10 shares | | Bonus Shares | 0 shares (tax incl.) | | Capital Reserve Conversion to Share Capital | No conversion | | Share Capital Base | Total share capital registered on the equity registration date for distribution | | Implementation Time | Within 2 months after approval by the general meeting of shareholders | Company Profile and Key Financial Indicators This section outlines Wuxi Chemical Equipment Co., Ltd.'s basic information, contact details, and key accounting data and financial indicators for the reporting period, noting a slight year-on-year decrease in operating revenue and net profit but significant improvement in net cash flow from operating activities - Company stock abbreviation "Xizhuang Shares", stock code 001332, listed on Shenzhen Stock Exchange[15] - Legal representative is Cao Honghai, Board Secretary is Xu Gaoshang[15][16] 2025 Semi-Annual Key Accounting Data and Financial Indicators | Indicator | Current Period (CNY) | Prior Period (CNY) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 622,788,611.03 | 666,027,166.38 | -6.49% | | Net Profit Attributable to Shareholders of the Listed Company | 122,629,346.17 | 125,441,522.35 | -2.24% | | Net Profit Attributable to Shareholders of the Listed Company After Deducting Non-Recurring Gains and Losses | 117,874,432.43 | 120,120,840.26 | -1.87% | | Net Cash Flow from Operating Activities | 8,344,753.01 | -14,186,849.32 | 158.82% | | Basic Earnings Per Share (CNY/share) | 1.11 | 1.16 | -4.31% | | Diluted Earnings Per Share (CNY/share) | 1.11 | 1.16 | -4.31% | | Weighted Average Return on Net Assets | 5.01% | 5.52% | -0.51% | | Indicator | End of Current Period (CNY) | End of Prior Year (CNY) | Change from Prior Year-End | | :--- | :--- | :--- | :--- | | Total Assets | 3,412,623,316.32 | 3,428,562,165.48 | -0.46% | | Total Owners' Equity Attributable to Parent Company | 2,466,758,506.40 | 2,387,720,651.64 | 3.31% | 2025 Semi-Annual Non-Recurring Gains and Losses Items and Amounts | Item | Amount (CNY) | | :--- | :--- | | Government Grants Recognized in Current P&L (Excl. Recurring Impact) | 2,824,891.43 | | Fair Value Change Gains/Losses and Disposal Gains/Losses from Financial Assets/Liabilities Held by Non-Financial Enterprises | 2,320,206.87 | | Reversal of Impairment Provisions for Accounts Receivable Subject to Individual Impairment Testing | 1,000,000.00 | | Other Non-Operating Income and Expenses Apart from the Above | -551,082.14 | | Less: Income Tax Impact | 839,102.42 | | Total | 4,754,913.74 | Management Discussion and Analysis This section details the company's main business, operating model, market position, core competitiveness, financial performance, and risks and countermeasures during the reporting period, with a focus on metal pressure vessels for diverse applications, noting a year-on-year decrease in operating revenue but an improved gross profit margin due to high-throughput product sales Principal Business Activities During the Reporting Period The company primarily engages in the R&D, design, manufacturing, sales, and related technical services of metal pressure vessels, including heat exchange, reaction, storage, and separation pressure vessels, widely applied in refining and petrochemical, basic chemical, nuclear power, and solar energy sectors, adopting a "production-to-order" model and direct sales with pricing based on technical complexity and market conditions, and despite a 6.49% year-on-year decrease in operating revenue, the comprehensive gross profit margin increased by 2.16 percentage points to 33.93% due to a higher proportion of high-throughput product sales - Main business is metal pressure vessel R&D, design, manufacturing, sales, and related technical services, with product series including heat exchange, reaction, storage, and separation pressure vessels[28] - Products widely used in refining and petrochemical, basic chemical, nuclear power and solar power generation, high-tech ships and marine engineering, and other fields[28] - Adopts "production-to-order" and direct sales models, pricing considers cost, profit, production hours, manufacturing difficulty, brand, and product advantages[36][38][39] 2025 Semi-Annual Main Business Financial Performance | Indicator | Amount (CNY 10,000) | Year-on-Year Change | | :--- | :--- | :--- | | Operating Revenue | 62,278.86 | -6.49% | | Net Profit Attributable to Shareholders of the Listed Company | 12,262.93 | -2.24% | | Net Profit Attributable to Shareholders of the Listed Company After Deducting Non-Recurring Gains and Losses | 11,787.44 | -1.87% | | Comprehensive Gross Profit Margin | 33.93% | +2.16 percentage points | Analysis of Core Competencies The company's core competencies include high-quality products and customer resources, comprehensive domestic and international product certifications, strong R&D capabilities, diversified downstream customer distribution, global marketing and market expansion, and advantageous geographical location and operational management experience, leveraging long-term service to top-tier clients to build brand equity and competitive advantages while actively expanding into the new energy equipment industry to enhance anti-cyclical capabilities - Adheres to "high-end products, high-end market" positioning, qualified supplier for major domestic and international groups like China National Petroleum, Sinopec, Shell, ExxonMobil, and strategic partnerships with some renowned groups[41][47] - Holds top-tier domestic and international certifications including China Special Equipment Fixed Pressure Vessel Design License, A1 Large High-Pressure Vessel Manufacturing License, Civil Nuclear Safety Manufacturing License (Nuclear Safety Level 2, 3), and ASME "U", "U2", "S" stamp certificates[48] - Jiangsu Province High-Tech Enterprise, possesses Jiangsu Province High-Efficiency Heat Transfer and Energy Saving Engineering Technology Research Center and Jiangsu Province Postdoctoral Innovation Practice Base, actively developing new materials, products, and processes[49] - Diversifies downstream customer industries into high-tech ships and marine engineering, nuclear power, and solar energy to mitigate single-industry cyclical fluctuation risks[51] - Business expanded to over 20 countries and regions including Europe, the United States, Japan, Southeast Asia, the Middle East, Russia, and Australia[52] Main Business Analysis This section details the changes in the company's main business financial data, noting a 6.49% year-on-year decrease in operating revenue due to lower product sales volume and average selling prices, while selling and administrative expenses increased due to new equity incentive costs, and net cash flow from operating and investing activities significantly improved, with oil and petrochemical revenue growing by 17.76% and nuclear power and geothermal energy revenue by 2042.69%, despite declines in basic chemical and solar energy revenues, and heat exchange vessels remaining the primary product with reaction vessel revenue increasing by 174.35% Year-on-Year Changes in Key Financial Data | Item | Current Period (CNY) | Prior Period (CNY) | Year-on-Year Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 622,788,611.03 | 666,027,166.38 | -6.49% | Product sales volume and average selling price decreased | | Operating Cost | 411,484,934.59 | 454,461,248.16 | -9.46% | Product sales volume and average cost decreased | | Selling Expenses | 14,114,074.72 | 9,875,563.87 | 42.