Employee and Corporate Governance - As of June 30, 2023, the company had a total of 2,031 employees, an increase from 1,924 employees as of June 30, 2022[1] - The company has complied with all provisions of the Corporate Governance Code, except for the separation of the roles of Chairman and CEO, which are held by the same individual[6] - The company will continue to review and monitor its corporate governance practices to ensure compliance with the Corporate Governance Code[7] - The company has adopted the Model Code for Directors' securities transactions, with all directors confirming compliance for the six months ended June 30, 2023[8] - There were no changes in the information of directors or chief executives that required disclosure under the Listing Rules during the review period[10] - The company is committed to maintaining a stable leadership structure to effectively implement business decisions and strategies[6] Financial Performance - Revenue for the first half of 2023 reached RMB 996,415,000, representing a 7.9% increase from RMB 923,237,000 in the same period of 2022[24] - Gross profit decreased to RMB 176,238,000, down 32.8% from RMB 262,340,000 year-over-year[24] - Profit for the period was RMB 42,970,000, a decline of 49.1% compared to RMB 84,300,000 in 2022[24] - Total comprehensive income for the period was RMB 45,887,000, down 51.7% from RMB 94,969,000 in the previous year[25] - Basic and diluted earnings per share decreased to RMB 0.03 from RMB 0.08, reflecting a 62.5% decline[25] - Selling and distribution expenses were RMB 23,883,000, a decrease from RMB 28,483,000 in 2022[24] - Administrative expenses were RMB 88,988,000, down from RMB 102,935,000 year-over-year[24] - Other comprehensive income, net of tax, was RMB 2,917,000, compared to RMB 10,669,000 in the previous year[25] - The company reported an exchange difference on translation of foreign operations of RMB 7,551,000, down from RMB 16,497,000 in 2022[24] Equity and Dividends - The total equity as of June 30, 2023, was RMB 2,078,981,000, compared to RMB 2,099,959,000 at the beginning of the year[32] - The company distributed dividends amounting to RMB 69,388,000 to shareholders during the reporting period[36] - Mr. GE Yi is deemed to be interested in a total of 400,013,250 shares as of June 30, 2023, due to voting rights transferred from associated companies[14] Cash Flow and Investments - Net cash flows from operating activities for the first half of 2023 were RMB 34,680,000, a decrease from RMB 106,639,000 in the same period of 2022[50] - The company reported cash and cash equivalents at the end of the period amounting to RMB 414,843,000, compared to RMB 73,980,000 at the end of the previous year[50] - Cash generated from operations was RMB 81,318,000, with income tax paid amounting to RMB 46,638,000[50] - The company incurred net cash flows used in investing activities of RMB 80,800,000, a decrease from RMB 113,939,000 in the previous year[50] - Proceeds from borrowings amounted to RMB 196,366,000, while repayments of borrowings were RMB 123,146,000[50] Segment Performance - The battery materials segment reported a loss of RMB 116,584,000, while the dye and agricultural chemical intermediates segment achieved a profit of RMB 152,765,000[70] - The pigment intermediates and new materials segment generated a profit of RMB 58,026,000, contributing to a total segment profit of RMB 94,207,000[70] - The external customer revenue breakdown included RMB 217,966,000 from battery materials, RMB 585,414,000 from dye and agricultural chemical intermediates, and RMB 193,035,000 from pigment intermediates and new materials[70] - The company has ceased to report the "others" segment due to no revenue generated since 2022, focusing on its core operating segments[70] Assets and Liabilities - The Group's total assets as of June 30, 2023, amounted to RMB 3,390,492,000, an increase from RMB 3,195,239,000 as of December 31, 2022, representing a growth of approximately 6.1%[93] - The Group's total liabilities as of June 30, 2023, were RMB 1,311,511,000, compared to RMB 1,095,280,000 as of December 31, 2022, indicating an increase of about 19.7%[93] - The Group's non-current assets are primarily located in Mainland China, highlighting the geographical focus of its operations[90] Taxation and Impairments - Current income tax expense for the six months ended June 30, 2023, was RMB 47,414,000, compared to RMB 23,385,000 for the same period in 2022[129] - The impairment provision for trade receivables was RMB 8,870,000 as of June 30, 2023, compared to RMB 7,704,000 as of December 31, 2022[140] - The Group wrote down inventories by RMB 15,828,000 for the six months ended June 30, 2023, with no write-downs reported for the same period in 2022[139] Research and Development - Research and development costs rose significantly to RMB 23,660,000, up from RMB 8,823,000, marking a 168.5% increase compared to the same period in 2022[144] Financial Instruments and Fair Value - The fair value hierarchy includes Level 1, Level 2, and Level 3 valuations, with specific financial instruments categorized accordingly[18] - The Group's financial instruments at fair value include equity investments designated at FVOCI and financial assets at FVPL, which are subject to fair value measurement[18]
彩客新能源(01986) - 2023 - 中期财报