JCT(SH:603657)2023-08-28 16:00Financial Performance - The company's operating revenue for the first half of 2023 reached CNY 892,006,987.90, representing a 28.48% increase compared to CNY 694,255,853.82 in the same period last year[17]. - The net profit attributable to shareholders of the listed company decreased by 36.77% to CNY 33,593,677.04 from CNY 53,128,952.19 in the previous year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 31,538,677.07, down 35.38% from CNY 48,808,390.18 year-on-year[18]. - Basic earnings per share decreased by 38.46% to CNY 0.24 compared to the same period last year[19]. - Diluted earnings per share decreased by 35.90% to CNY 0.25 compared to the same period last year[19]. - The total profit for the first half of 2023 was ¥43,974,952.87, compared to ¥61,483,863.96 in the same period last year, reflecting a decline of 28.5%[110]. - The total comprehensive income for the first half of 2023 was ¥40,197,697.29, down from ¥58,416,950.57 in the same period last year, a decrease of 31.1%[111]. - The operating profit for the first half of 2023 was ¥44,783,683.17, compared to ¥62,403,487.17 in the same period last year, reflecting a decrease of 28.3%[110]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -114,580,327.92, a decline of 232.26% compared to CNY 86,629,824.82 in the previous year[18]. - Operating cash inflow for the first half of 2023 was CNY 817,880,197.50, an increase of 18.8% compared to CNY 688,701,865.43 in the same period of 2022[116]. - Net cash outflow from operating activities was CNY -114,580,327.92, a decline from a positive cash flow of CNY 86,629,824.82 in the first half of 2022[116]. - The ending cash and cash equivalents balance was CNY 224,946,282.92, down from CNY 349,972,758.50 at the end of the first half of 2022[117]. - The total cash and cash equivalents decreased by CNY 111,116,296.89 in the first half of 2023, compared to an increase of CNY 38,132,470.97 in the same period of 2022[117]. Assets and Liabilities - The total assets decreased by 5.72% to CNY 2,051,952,368.62 from CNY 2,176,339,336.04 at the end of the previous year[18]. - The total liabilities decreased to CNY 936,607,743.42 as of June 30, 2023, from CNY 1,074,324,966.46 at the end of 2022, a reduction of about 13.0%[103]. - The total current assets as of June 30, 2023, amounted to CNY 1,483,002,617.98, a decrease from CNY 1,596,649,227.48 as of December 31, 2022, representing a decline of approximately 7.1%[101]. - The total equity attributable to the parent company at the end of the reporting period is CNY 1,115,344,625.20, an increase from CNY 1,012,693,495.39 at the end of the previous year, representing a growth of approximately 10.16%[124]. Operational Highlights - The company operates in the rubber and plastic products industry, specifically in the cleaning appliance hose sector[24]. - The company has established a comprehensive service system for cleaning appliance manufacturers, focusing on customized solutions[26]. - The company employs a "make-to-order" production model, aligning production with customer orders[27]. - The company has established six production bases in Jinhua, Suzhou, Malaysia, and Vietnam to enhance responsiveness to customer needs and reduce transportation costs[32]. - The company has built long-term relationships with renowned clients such as Midea, Dyson, and LG, leveraging its customer-centric service approach[31]. Research and Development - Research and development expenses grew by 10.80% to CNY 25,891,939.40, reflecting higher employee compensation and R&D investments[37]. - The company has developed a high-strength electronic hose for high-end vacuum cleaners, which won the third prize for excellent industrial new products and technologies in Zhejiang Province[29]. - Research and development expenses for the first half of 2023 were CNY 25,891,939.40, compared to CNY 23,368,112.95 in the same period of 2022, reflecting an increase of approximately 10.8%[109]. Risks and Compliance - The company has not reported any significant risks affecting normal operations during the reporting period[4]. - The company faces risks from raw material price fluctuations, primarily influenced by oil prices, which can impact profitability[46]. - The competitive landscape in the clean appliance hose industry remains intense, with many players concentrated in Jiangsu, Guangdong, and Zhejiang provinces, necessitating continuous innovation and capacity upgrades[46]. - The company has not violated decision-making procedures for providing guarantees to external parties[4]. Shareholder and Equity Information - The company completed the reserved granting registration for its 2022 restricted stock incentive plan, granting 707,750 shares to 28 key personnel, enhancing team cohesion[35]. - The company will not distribute profits or increase capital through stock conversion in the first half of 2023[52]. - The company granted a total of 797,750 restricted shares to 30 incentive recipients at a grant price of 11.91 CNY per share on February 10, 2023[53]. - The controlling shareholders have committed to not reducing their holdings below the issuance price for two years after the lock-up period ends[59]. - The company has committed to compensating investors for any losses incurred due to non-compliance with share reduction commitments[62]. Accounting Policies - The financial statements are prepared based on the assumption of going concern, with no significant doubts regarding the company's ability to continue operations[134]. - The company applies the accounting treatment for business combinations under common control and non-common control, adjusting capital reserves and retained earnings accordingly[140]. - The company recognizes revenue based on the transfer of control of goods or services to customers, with specific criteria for determining when control is transferred[190]. - The company recognizes deferred tax assets and liabilities based on the difference between the book value of assets and liabilities and their tax bases, calculated at applicable tax rates[198].