Revenue Performance - The company's revenue for the first half of 2022 was RMB 420,042,000, a decrease from RMB 490,784,000 in the same period of 2021, reflecting a decline of approximately 14.3%[7] - Domestic market revenue was RMB 407,524,000 with a gross margin of 26.8%, compared to RMB 479,909,000 and a gross margin of 25.4% in the previous year[7] - The gross margin for the international market improved to 52.3% in the first half of 2022, up from 46.3% in the same period of 2021, despite revenue being RMB 12,518,000[7] - The group’s revenue for the first half of 2022 decreased by approximately 14.4% to about RMB 420.0 million from approximately RMB 490.8 million in the same period of 2021[26] - Revenue for the six months ended June 30, 2022, was RMB 420,042 thousand, a decrease of 14.3% compared to RMB 490,784 thousand in the same period of 2021[77] - Revenue from sales of electronic power components decreased to RMB 420,042,000 in 2022 from RMB 490,784,000 in 2021, representing a decline of 14.3%[92] Sector Performance - The company reported a significant revenue drop in the power transmission sector, with revenue of RMB 166,499,000 in 2022 compared to RMB 303,369,000 in 2021, reflecting a decline of approximately 45%[8] - In the power distribution sector, revenue was RMB 166,499 thousand, a decline of 45% compared to RMB 303,369 thousand in 2021[11] - The revenue from the ultra-high voltage direct current transmission segment increased by 40% to RMB 72,457 thousand from RMB 51,938 thousand in 2021[12] - The flexible direct current transmission segment saw a significant decline of 89%, with revenue dropping to RMB 20,912 thousand from RMB 197,413 thousand in 2021[13] - The electrification transportation sector experienced a 96% increase in revenue, reaching RMB 36,908 thousand compared to RMB 18,792 thousand in 2021[15] - The electric vehicle segment reported a staggering increase of 11,667%, with revenue rising to RMB 13,885 thousand from RMB 118 thousand in 2021[15] - The industrial and other sectors generated revenue of RMB 204,117 thousand, a 29% increase from RMB 157,748 thousand in 2021[18] Product Development and Innovation - The company delivered over 150,000 self-developed IGBT chips and nearly 20,000 IGBT modules in the first half of 2022, indicating a strong focus on product development[4] - The company plans to accelerate the development of its IGBT business, focusing on 1200V IGBT chips and the construction of a second packaging testing production line[5] - The company aims to complete the development of 1700V IGBT chips and other advanced modules in the near future, indicating ongoing innovation efforts[5] - The company has initiated the mass delivery of flexible DC transmission support capacitors, showcasing its commitment to new product launches[4] - The group is focusing on R&D, with new products like the 1200V IGBT chips and diode chips being recognized and ordered in various sectors including electric vehicles and renewable energy[24] Financial Performance - The gross profit margin improved to approximately 27.5% in the first half of 2022, up from 25.8% in the same period of 2021[28] - Other income and gains increased by approximately 39.3% to about RMB 24.8 million from RMB 17.8 million in 2021, mainly due to gains from forward foreign exchange contracts[29] - Pre-tax losses decreased from RMB 8.2 million to RMB 4.2 million, reflecting improvements in operational performance[36] - Net loss attributable to equity holders decreased by approximately 35.5% from RMB 11.0 million to RMB 7.1 million, driven by increased profits from non-IGBT businesses[38] - The company reported a basic and diluted loss per share of RMB 0.44, compared to RMB 0.67 in the previous year[77] - The total comprehensive loss for the period was RMB 12,744,000, compared to a loss of RMB 10,963,000 in the previous year[81] Cash Flow and Liquidity - The company reported a cash flow from operating activities of RMB 26,165,000 for the six months ended June 30, 2022, compared to RMB 252,915,000 for the same period in 2021, indicating a significant decrease[82] - Net cash flow from operating activities for the six months ended June 30, 2022, was RMB 13,954 thousand, a decrease of 94.2% compared to RMB 239,045 thousand in the same period of 2021[83] - Cash and cash equivalents as of June 30, 2022, amounted to RMB 547,135 thousand, down from RMB 587,176 thousand at the end of 2021[78] - Current ratio decreased from approximately 4.2 to 3.8, mainly due to an increase in accounts payable and notes[42] Shareholder and Corporate Governance - The company issued 1,635,948,000 shares as of June 30, 2022[49] - The company repurchased 4,000,000 shares at a total cost of approximately HKD 8,426,287 during the first half of 2022[49] - The repurchased shares were canceled in the first half of 2022[49] - The company emphasizes good corporate governance practices to enhance accountability and transparency[52] - Major shareholders hold approximately 23.35% and 1.18% of the company's shares, respectively[57] Tax and Financing - Income tax expenses increased by approximately 51.1% from RMB 4.5 million to RMB 6.8 million, mainly due to increased profits from businesses outside of self-produced IGBT[37] - Financing costs decreased by approximately 51.3% from RMB 8.0 million to RMB 3.9 million, mainly due to a reduction in outstanding bank loans[34] - Total tax expenses for the period amounted to RMB 6,765,000, up from RMB 4,506,000 in 2021, marking an increase of 50.1%[98] Trade Receivables and Payables - Trade receivables and notes increased by approximately 20.1% from RMB 629.3 million to RMB 755.8 million, primarily due to slower cash collection affected by the pandemic[40] - Trade receivables increased to RMB 668,525,000 as of June 30, 2022, compared to RMB 491,809,000 as of June 30, 2021, reflecting a growth of approximately 36%[102] - Trade payables amounted to RMB 210,479,000 as of June 30, 2022, compared to RMB 182,092,000 as of December 31, 2021, representing an increase of approximately 15.6%[104]
赛晶科技(00580) - 2022 - 中期财报