协昌科技(301418) - 2025 Q2 - 季度财报

Section I Important Notice, Table of Contents, and Definitions This section provides critical disclaimers, outlines the report's structure, and defines key terms for clarity. Important Notice The company's management assures report accuracy while cautioning investors on risks like market competition, R&D, and fundraising projects, with no plans for dividends or bonus shares. - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report content[4] - Forward-looking statements regarding future plans and development strategies involve uncertainties, and investors are advised to note risks such as industry fluctuations, intensified competition, raw material price volatility, high customer concentration, product R&D and technological innovation, and fundraising projects[4] - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital[4] Table of Contents This section outlines the report's eight main chapters, encompassing company overview, financial performance, management analysis, governance, key events, share changes, and financial statements. Definitions This section defines key terms used throughout the report, including company entities, reporting periods, and critical technical terminology, to facilitate clear comprehension. - The company's controlling shareholder is Gu Ting, and the actual controllers are Gu Ting and Gu Ren[9] - The reporting period refers to January-June 2025, and the prior year period refers to January-June 2024[9] - Key technical terms include motion controller (specialized equipment for motor control), power chip (core component for power conversion in electrical equipment), and MOSFET (metal-oxide-semiconductor field-effect transistor)[9] Section II Company Profile and Key Financial Indicators This section presents an overview of the company's fundamental information and its key financial performance metrics. I. Company Profile Jiangsu Xiechang Electronic Technology Group Co., Ltd. (stock code: 301418) is listed on the Shenzhen Stock Exchange, with Gu Ting as its legal representative. - The company's stock abbreviation is "Xiechang Technology", stock code "301418", listed on the Shenzhen Stock Exchange[12] - The company's legal representative is Gu Ting[12] II. Contact Persons and Information The company's Board Secretary is Zeng Xiao and Securities Affairs Representative is Jiang Shida, with contact details provided for their Zhangjiagang office. - The Board Secretary is Zeng Xiao, and the Securities Affairs Representative is Jiang Shida[13] - The company's contact address is No. 1 Huatai Road, Gangkou Industrial Park, Fenghuang Town, Zhangjiagang City, Jiangsu Province[13] III. Other Information No changes occurred in the company's registered address, office address, website, email, information disclosure locations, or registration status during the reporting period. - The company's registered address, office address, website, and email remained unchanged during the reporting period[14] - Information disclosure and placement locations remained unchanged during the reporting period[15] - The company's registration status remained unchanged during the reporting period[16] IV. Key Accounting Data and Financial Indicators The company experienced significant declines in revenue, net profit, and basic EPS, with negative operating cash flow, indicating substantial pressure on profitability and cash flow. Key Accounting Data and Financial Indicators (Current Period vs. Prior Year Period) | Indicator | Current Period (CNY) | Prior Year Period (CNY) | Change from Prior Year Period | | :--- | :--- | :--- | :--- | | Operating Revenue | 155,860,221.76 | 191,257,506.23 | -18.51% | | Net Profit Attributable to Shareholders of Listed Company | 7,100,124.93 | 26,553,365.28 | -73.26% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains/Losses) | -5,891,404.10 | 20,047,332.87 | -129.39% | | Net Cash Flow from Operating Activities | -50,205,649.84 | 76,625,802.26 | -165.52% | | Basic Earnings Per Share (CNY/share) | 0.0972 | 0.3621 | -73.16% | | Diluted Earnings Per Share (CNY/share) | 0.0972 | 0.3621 | -73.16% | | Weighted Average Return on Net Assets | 0.44% | 1.65% | -1.21% | | Period-End Indicators | Current Period End (CNY) | Prior Year End (CNY) | Change from Prior Year End | | Total Assets | 1,750,534,290.96 | 1,691,031,233.85 | 3.52% | | Net Assets Attributable to Shareholders of Listed Company | 1,608,901,535.91 | 1,609,970,083.50 | -0.07% | V. Differences in Accounting Data Under Domestic and Overseas Accounting Standards The company reported no differences in net profit or net assets between domestic and international accounting standards during the period. - The company's financial reports for the reporting period show no differences in net profit and net assets when disclosed under International Accounting Standards compared to Chinese Accounting Standards[18] - The company's financial reports for the reporting period show no differences in net profit and net assets when disclosed under overseas accounting standards compared to Chinese Accounting Standards[19] VI. Non-Recurring Gains and Losses Items and Amounts Non-recurring gains and losses totaled CNY 12.99 million, mainly from government grants and fair value changes in cash management. Non-Recurring Gains and Losses Items and Amounts | Item | Amount (CNY) | Explanation | | :--- | :--- | :--- | | Government grants recognized in current profit or loss (excluding those closely related to normal business operations, compliant with national policies, enjoyed under fixed standards, and with a continuous impact on company profit or loss) | 1,687,322.57 | Mainly government grants received | | Gains and losses from changes in fair value of financial assets and liabilities held by non-financial enterprises, and gains and losses from disposal of financial assets and liabilities, excluding effective hedge accounting related to normal business operations | 14,981,662.32 | Mainly income from cash management | | Other non-operating income and expenses apart from the above | 38,338.61 | Mainly recovery of previously written-off accounts receivable | | Other profit and loss items meeting the definition of non-recurring gains and losses | 81,904.25 | Mainly handling fee refunds for personal income tax paid by the company on behalf of employees | | Less: Income tax impact | 3,794,355.61 | | | Impact on minority interests (after tax) | 3,343.11 | | | Total | 12,991,529.03 | | Section III Management Discussion and Analysis This section offers an in-depth analysis of the company's operations, financial performance, core competencies, and risk factors. I. Main Business Activities During the Reporting Period The company's core business in motion control products and power chips remained stable, but revenue and net profit significantly declined due to market competition and increased R&D and administrative expenses. - The company's main business focuses on the R&D, production, and sales of motion control products and power chips, with no significant changes in core business areas[24] - From January to June 2025, the company's operating revenue was CNY 155.86 million, a year-on-year decrease of 18.51%; net profit attributable to shareholders of the listed company was CNY 7.10 million, a year-on-year decrease of 73.26%[24] - The main reasons for the performance decline include intense competition in the electric two-wheeler market leading to a decrease in sales volume and prices of motion controller products, with gross profit margin falling by 7.42 percentage points year-on-year; additionally, R&D expenses and administrative expenses increased by CNY 2.53 million and CNY 2.17 million, respectively, to enhance competitiveness[24] (I) Main Business The company's core business in motion control products and power chips remained stable, but revenue and net profit significantly declined due to market competition and increased R&D and administrative expenses. - The company's main business has not undergone significant changes, focusing on the R&D, production, and sales of motion control products and power chips[24] - Operating revenue decreased by 18.51% year-on-year, and net profit attributable to the parent company decreased by 73.26% year-on-year[24](index=24&type=chunk