依顿电子(603328) - 2021 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,308,024,073.80, representing a 19.63% increase compared to CNY 1,093,374,402.79 in the same period last year[22]. - Net profit attributable to shareholders decreased by 39.43% to CNY 74,571,015.03 from CNY 123,112,579.64 year-on-year[22]. - The net cash flow from operating activities was CNY 153,134,324.61, down 42.25% from CNY 265,155,531.13 in the previous year[22]. - Basic earnings per share for the reporting period were CNY 0.07, down 41.67% from CNY 0.12 in the same period last year[22]. - The company reported a decrease of 33.18% in net profit after deducting non-recurring gains and losses, amounting to CNY 72,285,518.33 compared to CNY 108,176,657.03 last year[22]. - The average selling price of products decreased by 6.97% year-on-year due to changes in product structure, despite an increase in shipment volume[31]. - The company experienced a foreign exchange loss of RMB 10.75 million during the reporting period, compared to a foreign exchange gain of RMB 11.90 million in the same period last year[31]. - The company achieved a revenue increase of 19.63% year-on-year, driven by enhanced customer relationships and the introduction of new product varieties, including small quantities of HDI for existing clients[51]. - The company reported a net profit of RMB 176.44 million for the first half of 2021 from its subsidiary, Yidun Zhongshan[72]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 4,342,940,038.79, an increase of 1.98% from CNY 4,258,800,889.88 at the end of the previous year[22]. - The net assets attributable to shareholders were CNY 3,293,845,791.64, a decrease of 0.78% from CNY 3,319,676,213.92 at the end of the previous year[22]. - Total liabilities amounted to CNY 1,118,463,491.01, compared to CNY 1,017,741,057.79 in the previous year, indicating a growth of 9.9%[167]. - The total equity decreased to CNY 2,862,469,717.17 from CNY 2,905,110,384.56, reflecting a decline of 1.5%[169]. - Current liabilities totaled ¥1,002,448,131.39, an increase from ¥906,239,688.97, reflecting a rise of about 10.5%[159]. - The total liabilities increased to ¥1,049,094,247.15 from ¥939,124,675.96, representing a growth of approximately 11.7%[159]. Research and Development - R&D investment for the reporting period was CNY 48.47 million, accounting for 3.71% of the company's total annual revenue, with two new utility model patents granted[51]. - The company has developed advanced technologies, including 5G high-frequency circuit board technology and high-density interconnect (HDI) boards, to maintain its technological leadership in the industry[51]. - Research and development expenses for the first half of 2021 were CNY 48,470,672.51, slightly up from CNY 47,477,542.89, indicating a focus on innovation[172]. Market and Industry Outlook - The PCB industry is projected to grow, with China's PCB output value expected to reach approximately USD 46.12 billion by 2025, reflecting a compound annual growth rate of 5.6% from 2020 to 2025[33]. - The PCB industry is expected to grow by 14.0% in 2021, up from a previous forecast of 8.6%, reflecting a positive market outlook[49]. - The automotive industry in China is expected to see sales exceed 26 million units in 2021, with a significant demand for PCBs driven by the new four modernizations (intelligent, electric, connected, and shared)[36]. Environmental Management - The company reported a total wastewater discharge of 1,717,104 cubic meters for the half-year period, significantly lower than the permitted discharge of 5,085,000 cubic meters[90]. - The actual emissions of chemical oxygen demand (COD) were 44.289 tons for the half-year, compared to the approved total emission limit of 254.25 tons per year[89]. - The company achieved a 100% compliance rate for environmental monitoring indicators during the reporting period[101]. - The company has invested in a nickel wastewater treatment system, which began testing in the first half of 2021, aiming to reduce hazardous waste and lower treatment costs[104]. - The company has established an ISO 14001:2015 environmental management system, ensuring effective operation and compliance with environmental regulations[101]. Shareholder Commitments and Governance - The company guarantees to strictly fulfill its commitments disclosed in the prospectus and will publicly explain any failure to do so[115]. - The company will compensate investors for losses incurred due to unfulfilled commitments by the controlling shareholder[115]. - The company has committed to not transferring more than 25% of its shares during its tenure and not transferring any shares within six months after leaving the position[110]. - The controlling shareholder, Yidun Investment, is allowed to reduce its holdings after the lock-up period, with a maximum reduction of 20% within two years[112]. - The company will disclose specific reasons for any failure to fulfill commitments and propose supplementary or alternative commitments to protect investor rights[115]. Operational Efficiency - The company has implemented strict production management and cost control measures, optimizing production processes to reduce costs effectively[39]. - The company has increased its automation level by adding multiple new machines, enhancing production efficiency and quality control[52]. - The company plans to continue enhancing its internal control systems to improve operational efficiency and risk management[55]. Community Engagement - The company emphasizes the creation of social value and actively participates in social welfare activities, supporting local education, culture, science, health, and poverty alleviation[106]. - The company has organized community service activities to assist local impoverished households, contributing to social development[106]. - The company has undertaken to support local poverty alleviation efforts and promote economic development in the community[106].