FARATRONIC(SH:600563)2020-08-28 16:00Financial Performance - The company's operating revenue for the first half of 2020 was ¥836,519,434.17, representing a 5.37% increase compared to ¥793,871,786.13 in the same period last year[8]. - The net profit attributable to shareholders for the first half of 2020 was ¥230,323,747.34, which is a 9.95% increase from ¥209,477,697.18 in the previous year[8]. - The net profit after deducting non-recurring gains and losses was ¥217,865,804.94, reflecting an 11.46% increase from ¥195,462,870.43 in the same period last year[8]. - The total operating revenue for the first half of 2020 was ¥836,519,434.17, an increase of 5.4% compared to ¥793,871,786.13 in the same period of 2019[40]. - Net profit for the first half of 2020 reached ¥235,463,143.53, compared to ¥215,454,208.00 in the same period of 2019, representing an increase of 9.3%[40]. - The total comprehensive income for the first half of 2020 was approximately ¥236.25 million, compared to ¥215.47 million in the first half of 2019, reflecting a growth of 9.66%[41]. - The company reported a total profit for the current period of RMB 276,458,606.93, compared to RMB 215,454,208.00 in the previous period, reflecting an increase of approximately 28.3%[184][187]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 23.48% to ¥188,258,956.53, down from ¥246,017,547.79 in the previous year[8]. - The cash flow from operating activities generated a net amount of approximately ¥188.26 million, down from ¥246.02 million in the first half of 2019, a decrease of 23.5%[43]. - The company's cash and cash equivalents increased to approximately ¥667.19 million, up from ¥626.91 million, reflecting a growth of about 6.5%[33]. - The cash and cash equivalents at the end of the period total RMB 667,194,346.70, compared to RMB 626,905,338.83 at the beginning of the period, showing an increase of about 6.4%[189]. - The net increase in cash and cash equivalents for the period was CNY 40,289,007.87, compared to CNY 30,550,954.21 in the previous year[44]. Assets and Liabilities - The total assets at the end of the reporting period were ¥3,179,051,817.30, a decrease of 1.63% from ¥3,231,718,802.41 at the end of the previous year[8]. - The total liabilities at the end of the period amounted to 19,669,966.31 million RMB, with a significant increase in the power device integrated packaging technology development project, which rose to 186,404.37 million RMB[160]. - The company's total liabilities stood at approximately ¥558.26 million, a slight increase from ¥554.67 million, indicating a growth of about 0.3%[35]. - The total assets of the company reached CNY 3,122,886,556.61[100]. - The total amount of deferred tax assets at the end of the period is CNY 5,764,937.87, compared to CNY 5,969,976.94 at the beginning of the period, showing a decrease of approximately 3.4%[137]. Shareholder Information - The company did not distribute profits or increase capital reserves during the reporting period[2]. - The company did not propose any profit distribution or capital reserve increase for the half-year period[20]. - The total number of ordinary shareholders at the end of the reporting period was 10,543[26]. - The largest shareholder, Xiamen Fala Development Co., Ltd., held 84,000,000 shares, accounting for 37.33% of the total shares[27]. - The total equity attributable to shareholders at the end of the period was 2,500,974,316.26[50]. Research and Development - Research and development expenses rose by 12.28% to RMB 36.20 million, indicating a focus on innovation[14]. - The company is enhancing its R&D efforts for new energy film capacitors to meet market demands and improve overall product technology[12]. - The company has ongoing research and development projects, including a high-performance vehicle motor controller based on SiC modules, with an investment of 216,133.99 million RMB[160]. Market Position and Strategy - The company is a leading player in the film capacitor industry, ranking among the top three globally in production and sales[11]. - The market trend is shifting towards high-end, customized products, with an increasing focus on technology services and brand enhancement[11]. - The company is focusing on expanding its market presence through new product development and technology upgrades, particularly in the electric vehicle sector[160]. Risks and Compliance - The company faces risks from raw material price fluctuations, export operations, and exchange rate changes that could impact profitability[18]. - The company complied with environmental regulations, ensuring that wastewater, waste gas, and noise emissions met standards[24]. - The company has not engaged in any major equity or non-equity investments during the reporting period[16]. Accounting Policies and Financial Management - The financial statements are prepared based on the going concern principle and comply with the accounting standards issued by the Ministry of Finance[56]. - The company recognizes revenue according to its specific revenue recognition policy, which is detailed in the notes[58]. - The company uses the expected credit loss model for impairment of financial assets, assessing credit risk at each reporting date[65]. - The company recognizes financial liabilities at fair value through profit or loss, with transaction costs directly expensed[64]. Employee Compensation and Benefits - Employee compensation includes various forms of remuneration, with short-term compensation recognized as liabilities in the period services are provided[83]. - The total employee compensation payable decreased from ¥194,390,453.78 to ¥69,172,068.89, a significant reduction of approximately 64.5%[149].