Hexing(SH:603556)2022-08-26 16:00Financial Performance - The company's operating revenue for the first half of 2022 reached ¥1,568,936,192.82, representing a 43.56% increase compared to ¥1,092,884,818.45 in the same period last year[14]. - Net profit attributable to shareholders of the listed company was ¥295,059,621.62, a significant increase of 90.60% from ¥154,805,324.43 in the previous year[14]. - The net profit after deducting non-recurring gains and losses was ¥244,828,755.63, which is a 251.29% increase compared to ¥69,694,248.73 in the same period last year[14]. - Basic earnings per share increased by 87.5% to CNY 0.6 compared to CNY 0.32 in the same period last year[15]. - The company's revenue for the reporting period reached CNY 1,568,936,192.82, representing a year-on-year increase of 43.56%[30]. - The net profit attributable to the parent company was CNY 29,505.96 million, showing a significant growth of 90.6% compared to the previous year[30]. - The operating cash flow for the reporting period was CNY 296,829,170.93, a significant increase of 258.71% compared to the previous year[34]. - The total operating costs for the first half of 2022 were ¥1,271,496,763.45, up from ¥1,029,568,796.02, reflecting a year-over-year increase of 23.5%[74]. - Net profit for the first half of 2022 was ¥294,877,983.85, compared to ¥153,923,901.06 in the same period of 2021, representing an increase of 92%[75]. Cash Flow and Assets - The net cash flow from operating activities was ¥296,829,170.93, a turnaround from a negative cash flow of -¥187,028,753.02 in the previous year[14]. - The total assets at the end of the reporting period were ¥7,624,286,634.09, reflecting a 5.77% increase from ¥7,208,255,470.41 at the end of the previous year[14]. - Cash and cash equivalents increased slightly by 0.19% to 3,003,799,333.28 CNY, representing 39.43% of total assets[35]. - Inventory rose by 9.70% to 750,108,099.70 CNY, now comprising 9.85% of total assets[35]. - The total amount of successful bids for smart meter projects from State Grid and Southern Grid increased by about 68% year-on-year[26]. - The total assets as of the end of the reporting period amounted to ¥6,932,550,899.52, up from ¥6,570,629,789.79, indicating a growth of 5.5%[73]. - The company's cash flow from operating activities amounted to CNY 1.93 billion, an increase from CNY 1.42 billion in the same period of 2021[80]. Shareholder Information - The company did not propose any profit distribution during this reporting period[3]. - The total number of ordinary shareholders at the end of the reporting period is 23,714[63]. - The largest shareholder, Zhejiang Haixing Holding Group Co., Ltd., holds 49.05% of the shares, totaling 239,713,292 shares[63]. - Li Xiaoqing increased her shareholding by 26,720,603 shares during the reporting period, bringing her total to 42,964,103 shares, which is 8.79% of the total[63]. - The company has not provided any guarantees for shareholders, actual controllers, or their related parties during the reporting period[59]. Market and Industry Insights - The global smart meter market is projected to grow from USD 11.4 billion in 2022 to USD 15.2 billion by 2026, with a CAGR of 6.7%[25]. - The investment in distribution network construction by State Grid and Southern Grid during the "14th Five-Year Plan" period is expected to reach CNY 1.5 trillion, creating significant development opportunities[27]. - The global smart grid revenue is projected to exceed USD 24 billion by 2023, with a compound annual growth rate of 33.4%[27]. - The company focuses on the power industry, providing green energy and smart energy solutions, with products categorized into smart electricity products, smart distribution products, and new energy products[19]. Risks and Challenges - The company has detailed the risks it faces in the report, urging investors to pay attention[4]. - The company faces risks from overseas market competition, prompting a strategy of localizing operations and enhancing compliance measures[42]. - Supply chain risks have arisen from unstable chip supply and commodity price fluctuations, impacting production costs[45]. - The company has faced management risks in overseas subsidiaries due to varying legal systems and cultural differences, exacerbated by COVID-19 travel restrictions[44]. Accounting and Compliance - The financial statements were approved by the board of directors on August 26, 2022[105]. - The company operates under the accounting standards issued by the Ministry of Finance, ensuring compliance with relevant regulations[107]. - The company has not reported any changes in accounting policies or prior period error corrections during the current reporting period[101]. - The company recognizes cash dividends as liabilities upon approval by the shareholders' meeting[182]. Corporate Social Responsibility - The company has actively participated in poverty alleviation initiatives, donating CNY 30,000 and investing CNY 150,000 in infrastructure projects in impoverished areas[54].