JDM(SH:603088)2022-08-25 16:00Financial Performance - The company's operating revenue for the first half of 2022 was CNY 308,368,979.38, representing a 28.35% increase compared to CNY 240,260,580.22 in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2022 was CNY 65,760,936.16, a significant increase of 90.31% from CNY 34,554,984.37 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was CNY 52,743,631.38, up 87.08% from CNY 28,192,985.29 year-on-year[20]. - The basic earnings per share for the first half of 2022 was CNY 0.15, an increase of 87.50% compared to CNY 0.08 in the same period last year[21]. - The weighted average return on net assets increased to 11.58%, up 5.39 percentage points from 6.19% in the previous year[21]. - The gross profit margin for the company's main business was 38.22%, with the heat exchanger automation equipment series achieving a gross margin of 40.56%[39]. - The company reported a significant increase in sales expenses, which rose by 48.10% to ¥23.86 million, primarily due to increased revenue[37]. - The company reported a significant increase in investment income to ¥2,431,203.88 from ¥1,469,515.45 year-over-year[109]. - The total profit for the first half of 2022 was ¥76,616,266.54, an increase of 83.5% from ¥41,744,942.79 in the first half of 2021[109]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,157,842,978.06, a slight increase of 0.23% from CNY 1,155,173,272.48 at the end of the previous year[20]. - The net assets attributable to shareholders at the end of the reporting period were CNY 584,994,255.07, reflecting a 7.53% increase from CNY 544,027,305.66 at the end of the previous year[20]. - The company's cash and cash equivalents increased by 113.41% to ¥186,811,454.72, representing 16.13% of total assets, compared to 7.58% in the previous year[40]. - Trade financial assets decreased by 55.97% to ¥97,003,759.89, accounting for 8.38% of total assets, down from 19.07%[40]. - Accounts receivable decreased by 68.99% to ¥23,318,276.42, which is 2.01% of total assets, compared to 6.51% previously[40]. - The company's short-term borrowings decreased by 71.31% to ¥13,442,811.98, representing 1.16% of total liabilities, down from 4.06%[40]. - Total liabilities decreased to ¥564,771,964.17 from ¥603,206,962.55, a reduction of about 6.4%[98]. - The total assets at the end of the reporting period were approximately 500,852,801, indicating a stable asset base despite the losses[133]. Research and Development - The company has developed 118 patents, including 23 invention patents, enhancing its technological capabilities and product offerings[28]. - The company has invested in over 200 advanced CNC processing machines and added more than 20 new devices in the first half of the year to improve production efficiency[28]. - Research and development expenses for the first half of 2022 were ¥12,059,522.29, slightly up from ¥11,609,724.53, indicating continued investment in innovation[105]. - The company plans to focus on technological advancements and new product launches in the upcoming quarters[126]. Market and Business Strategy - The main business includes heat exchanger equipment and precision presses, with significant growth expected in the heat exchanger market due to rising demand in the air conditioning and cold chain industries[25]. - The precision press market is experiencing rapid growth driven by the increasing demand for electric vehicles, with a notable rise in the need for battery shell production equipment[26]. - The company anticipates continued growth in the heat exchanger export market as global manufacturing policies encourage a return to domestic production[25]. - The company is expanding into new markets, including the cold chain and new energy vehicle sectors, to seek new growth points[49]. - The company plans to enhance production capacity by investing in advanced production equipment, with a new precision machining workshop expected to be operational in the second half of 2022[34]. Shareholder and Capital Structure - The total share capital increased from 307,328,000 shares to 438,025,420 shares due to capital reserve conversion and bonus shares distribution[84]. - The cash dividend distributed was 0.18 RMB per share, totaling 55,319,040 RMB, along with 61,465,600 bonus shares issued[84]. - The basic earnings per share decreased from 0.21 RMB to 0.15 RMB after the share capital increase[85]. - The net asset value per share decreased from 1.90 RMB to 1.34 RMB following the capital changes[85]. - The largest shareholder, Ningbo Chengxing Holdings Co., Ltd., holds 137,575,486 shares, accounting for 31.98% of total shares[88]. - The second-largest shareholder, Ningbo Guangda Investment Co., Ltd., holds 25,816,164 shares, representing 6% of total shares[88]. Risk Management - The company faces risks related to market competition, particularly in maintaining technological advancement and brand influence in the HVAC equipment sector[46]. - The company reported a risk of inventory price decline due to long production cycles, which may lead to increased inventory backlog if orders rise[55]. - The company has committed to not providing financial assistance for the acquisition of restricted stock by incentive plan participants[76]. Compliance and Governance - The company has not received any penalties or corrective actions related to legal violations during the reporting period[78]. - There are no significant related party transactions that have not been disclosed in temporary announcements[78]. - The company has implemented measures to stabilize its stock price, including share buybacks and potential increases in shareholding by major shareholders and executives[71]. Financial Reporting and Accounting Policies - The company applies a unified accounting policy for the preparation of consolidated financial statements, reflecting the overall financial position, operating results, and cash flows of the group[151]. - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired in a business combination[149]. - The company measures identifiable assets, liabilities, and contingent liabilities at fair value on the acquisition date in a business combination[152]. - The company assesses expected credit losses for financial assets measured at amortized cost and those measured at fair value with changes recognized in other comprehensive income[169].