Financial Performance - For the six months ended September 30, 2025, the company reported revenue of RMB 2,496,895 thousand, a 26.3% increase from RMB 1,978,056 thousand in the same period of 2024[3] - Gross profit for the same period was RMB 862,956 thousand, representing a gross margin of approximately 34.6%, compared to RMB 634,943 thousand in 2024[3] - The net profit for the six months ended September 30, 2025, was RMB 502,253 thousand, up 47.7% from RMB 340,036 thousand in 2024[3] - The company’s earnings per share (EPS) for the period was RMB 1.36 (basic) and RMB 1.35 (diluted), compared to RMB 0.90 in the previous year[3] - The company's total revenue for the six months ended September 30, 2025, was approximately RMB 2,496,895 thousand, representing a year-on-year increase of about 26.2%[31] - Net profit for the same period was approximately RMB 502,253 thousand, reflecting a year-on-year growth of about 47.7%[41] - The gross profit margin increased by approximately 2.5 percentage points to about 34.6%, compared to approximately 32.1% in the previous fiscal year[33] - Basic earnings per share for the six months ended September 30, 2025, were RMB 1.354, compared to RMB 0.901 for the same period in 2024, reflecting a growth of 50.3%[20] Revenue Breakdown - Revenue from the sale of high-precision CNC machine tools was RMB 2,492,591 thousand, an increase of 26.2% from RMB 1,974,920 thousand in 2024[12] - Revenue from services provided was RMB 4,304 thousand, up from RMB 3,136 thousand in the previous year[12] - Sales revenue from the automotive parts sector reached approximately RMB 1.03 billion, accounting for about 44.0% of total sales, with a year-on-year growth of 51.7%[28] - The sales revenue from precision lathes increased by approximately RMB 333,127 thousand, a rise of about 19.4%, making it the largest contributor to the company's revenue[31] Assets and Liabilities - The company’s total assets as of September 30, 2025, were RMB 3,730,448 thousand, compared to RMB 3,594,974 thousand as of March 31, 2025[4] - The company’s net assets increased to RMB 3,364,351 thousand from RMB 3,134,162 thousand in the previous period[5] - The company’s inventory as of September 30, 2025, was RMB 987,262 thousand, compared to RMB 930,344 thousand as of March 31, 2025[4] - Total liabilities decreased to RMB 493,183,000 as of September 30, 2025, from RMB 610,517,000 as of March 31, 2025, a reduction of 19.2%[25] - Trade receivables as of September 30, 2025, amounted to RMB 1,648,587,000, compared to RMB 1,566,691,000 as of March 31, 2025, indicating an increase of 5.2%[22] Expenses and Investments - The company's income tax expense for the six months ended September 30, 2025, totaled RMB 201,274,000, an increase of 32.9% from RMB 151,455,000 for the same period in 2024[16] - The company's deferred tax expense for the six months ended September 30, 2025, was RMB 31,399,000, compared to RMB 15,918,000 for the same period in 2024, representing a significant increase of 97.5%[16] - Selling and distribution expenses increased by approximately RMB 13,897 thousand, or about 14.9%, accounting for approximately 4.3% of total revenue[35] - Capital expenditures for the six months ended September 30, 2025, were approximately RMB 14,243 thousand, primarily for property renovations and equipment financing[43] - The company invested approximately RMB 14,243,000 in fixed assets during the review period, including RMB 4,892,000 in machinery and equipment, RMB 6,152,000 in leased property renovations, and RMB 3,199,000 in other investments[45] Dividends and Shareholder Returns - The company declared an interim dividend of HKD 0.60 per share for the six months ended September 30, 2025, up from HKD 0.40 per share for the same period in 2024[17] - The company announced an interim dividend of HKD 0.60 per share for the six months ended September 30, 2025, an increase from HKD 0.45 per share in the previous year[53] - The company repurchased a total of 5,306,000 shares during the review period, with a total expenditure of approximately HKD 126,361,460[55] Market and Industry Outlook - The manufacturing sector's demand for CNC machine tools is expected to continue growing, with strong order growth in the first quarter of 2025 laying a solid foundation for sales performance[49] - The automotive industry may enter an adjustment period after three years of demand growth for CNC machine tools, while the 3C industry is expected to see a new demand upcycle due to product updates from leading smartphone manufacturers[50] - The company is well-positioned to benefit from the growing demand for small precision components driven by new technologies such as autonomous driving and AI applications[50] Corporate Governance - The company has adopted the corporate governance code as per the listing rules since its listing on September 25, 2017, and has complied with it during the review period, except for a deviation regarding the roles of the Chairman and CEO[58] - The company confirms that all directors have adhered to the standards set out in the securities trading code during the review period[59] - The audit committee has reviewed the unaudited consolidated interim financial results for the six months ending September 30, 2025, and discussed matters related to audit, risk management, and internal controls with management[60] - The current executive directors include Dr. Wang Xiaokun, Dr. Tang Donghao, Mr. Yu He Shengyi, and Mr. Li Junying, with independent non-executive directors providing oversight[63] Risk Management - As of September 30, 2025, the company had no significant contingent liabilities[46] - The company has no significant foreign exchange risk as most sales and purchases are conducted in RMB, with no foreign exchange forward contracts or derivative instruments in place[47] - The company has maintained a strict credit control policy, with trade receivables aging analysis showing no overdue amounts as of September 30, 2025[24] Liquidity and Financial Health - The company's cash and bank balances as of September 30, 2025, totaled approximately RMB 1,081,606 thousand, showing a stable liquidity position[42] - The current ratio improved to approximately 4.4 times, up from 3.7 times as of March 31, 2025[43]
津上机床中国(01651) - 2026 - 中期业绩