Financial Performance - Revenue decreased by approximately RMB 79.6 million or about 6.0% to approximately RMB 1,244.8 million for the six months ended June 30, 2022[13]. - Gross profit margin declined by approximately 1.3 percentage points to about 14.3%[13]. - Profit for the period decreased by approximately RMB 3.2 million or about 6.1% to approximately RMB 49.7 million[13]. - Earnings per share decreased from RMB 2.95 to RMB 2.77[13]. - The board did not recommend the declaration of an interim dividend for the six months ended June 30, 2022[13]. - The company's revenue for the period was RMB 1,244,756 thousand, with a cost of goods sold of RMB 1,066,302 thousand, resulting in a gross profit of RMB 178,454 thousand[20]. - The pre-tax profit was RMB 75,999 thousand, and the total comprehensive income for the period was RMB 49,677 thousand[20]. - Basic and diluted earnings per share were both RMB 2.77[20]. - The company reported a net profit of RMB 49,677 thousand for the six months ended June 30, 2022, compared to RMB 52,899 thousand for the same period in 2021, indicating a decrease of approximately 6.0%[36][38]. - Gross profit decreased by approximately RMB 28.3 million or 13.7% to about RMB 178.5 million, with the overall gross margin dropping from 15.6% in the first half of 2021 to 14.3% in the first half of 2022, mainly due to intense price competition in the cable series products[130]. Revenue Breakdown - The external sales breakdown includes: RMB 573,598 thousand from the feeder cable series, RMB 481,322 thousand from the flame-retardant soft cable series, RMB 104,575 thousand from the optical cable series, and RMB 83,796 thousand from new electronic components[36]. - The revenue from the cable series increased by approximately 29.7% to about RMB 573.6 million, accounting for approximately 46.1% of total revenue[111]. - The revenue from the flame-retardant soft cable series decreased by approximately 18.9% to about RMB 481.3 million, with a gross margin decline of 1.2 percentage points to about 12.8%[112]. - The revenue from the optical cable series and related products decreased by approximately 54.2% to about RMB 104.6 million, with sales volume dropping by approximately 3.5 million core kilometers[113]. Cash Flow and Assets - The company’s cash and cash equivalents at the end of the period were RMB 479,455 thousand, up from RMB 459,272 thousand at the beginning of the period[27]. - The net cash generated from operating activities was RMB 14,154 thousand, a significant improvement compared to a net cash outflow of RMB 155,598 thousand in the previous year[27]. - The company reported a net cash outflow from investing activities of RMB 31,079 thousand, compared to RMB 8,591 thousand in the previous year[27]. - Non-current assets totaled RMB 503,949 thousand, while current assets amounted to RMB 5,180,138 thousand, showing a slight increase from the previous period[21]. Liabilities and Equity - The total liabilities increased to RMB 2,007,245 thousand, with trade and other payables significantly reduced to RMB 134,847 thousand from RMB 676,471 thousand[21]. - The total equity as of June 30, 2022, was RMB 3,650,632 thousand, reflecting a slight increase from RMB 3,600,955 thousand at the end of the previous year[21]. - As of June 30, 2022, total borrowings amounted to approximately RMB 1,826.1 million, an increase of about RMB 561.1 million compared to December 31, 2021[145]. - The capital debt ratio increased from approximately 16.5% on December 31, 2021, to about 30.2% on June 30, 2022, primarily due to financing classified as borrowing[147]. Research and Development - Research and development costs decreased by approximately RMB 7.9 million or 25.6% to RMB 22.9 million, primarily due to a reduction in the research budget for cable series and related products[136]. - The company is investing more resources into the research and development of millimeter-wave products to meet the performance demands of emerging fields such as AR and VR[121]. - The company has established a technology innovation alliance with the Chinese Academy of Forestry Sciences to promote IoT and AI applications in forestry and grassland sectors[122]. Market and Business Strategy - The company plans to continue expanding its business in the millimeter-wave market and enhance its presence in both domestic and international markets[105]. - The company aims to expand its overseas market presence, focusing on stable markets in Thailand and South Korea, and will participate in several online trade fairs to promote its products[126]. - The company plans to actively develop new customers and strengthen partnerships with well-known domestic enterprises and overseas companies to accelerate 5G infrastructure development[125]. - The global small base station market is expected to reach USD 25 billion in the next five years, indicating significant growth potential[2]. - The global IoT market is expected to exceed $1.1 trillion by 2026, with China's IoT market projected to reach $294 billion, becoming the largest in the world[122]. Corporate Governance - The company has complied with the corporate governance code as per the listing rules during the six months ended June 30, 2022[153]. - The company has established an audit committee responsible for reviewing and monitoring financial reporting procedures and risk management systems[175]. - The independent auditor has reviewed the interim financial information for the first half of 2022 according to the Hong Kong Institute of Certified Public Accountants' standards[175].
俊知集团(01300) - 2022 - 中期财报