鼎胜新材(603876) - 2023 Q2 - 季度财报

Financial Performance - Basic earnings per share for the first half of 2023 was CNY 0.40, a decrease of 41.18% compared to CNY 0.68 in the same period last year[30] - Diluted earnings per share for the first half of 2023 was CNY 0.39, down 40.91% from CNY 0.66 year-on-year[30] - The weighted average return on net assets was 5.45%, a decrease of 5.93 percentage points from 11.38% in the same period last year[30] - The basic earnings per share after deducting non-recurring gains and losses was CNY 0.35, a decline of 47.76% compared to CNY 0.67 in the previous year[30] - The weighted average return on net assets after deducting non-recurring gains and losses was 4.72%, down 6.56 percentage points from 11.28% year-on-year[30] - Operating revenue for the first half of 2023 was CNY 9,218,600,075.75, a decrease of 19.46% compared to CNY 11,445,462,664.38 in the same period last year[37] - Net profit attributable to shareholders was CNY 350,408,172.78, down 41.28% from CNY 596,786,519.09 year-on-year[37] - Net profit excluding non-recurring gains and losses was CNY 303,634,758.04, a decline of 48.69% compared to CNY 591,784,835.42 in the previous year[37] - The total comprehensive income amounted to CNY 369,299,104.07, a decrease from CNY 588,667,255.24 in the previous period[63] - Net profit for the period was CNY 110,046,105.08, down from CNY 206,406,062.12 year-on-year, representing a decline of approximately 46.3%[64] - The total profit before tax was CNY 127,643,081.54, down from CNY 246,326,691.55, indicating a decline of approximately 48.1%[64] Cash Flow and Assets - The net cash flow from operating activities was CNY 1,157,053,455.71, showing a slight increase of 0.50% from CNY 1,151,343,041.75 in the same period last year[37] - The net cash flow from investment activities was negative CNY 479,423,119.63, compared to negative CNY 752,712,644.34 in the same period last year[44] - The net cash flow from financing activities was negative CNY 356,066,515.96, compared to negative CNY 203,493,740.62 in the same period last year[44] - The total assets at the end of the reporting period were CNY 24,043,508,520.45, an increase of 9.52% from CNY 21,954,060,892.02 at the end of the previous year[37] - The net assets attributable to shareholders at the end of the reporting period were CNY 6,287,926,217.82, a decrease of 0.26% from CNY 6,304,207,300.20 at the end of the previous year[37] - The total assets as of June 30, 2023, amounted to CNY 23.999 billion, with a debt-to-asset ratio of 73.85%[56] - The company's cash and cash equivalents at the end of the first half of 2023 amounted to approximately ¥609.13 million, slightly up from ¥599.01 million at the end of the first half of 2022[197] Research and Development - Research and development expenses for the first half of 2023 were CNY 484,392,096.01, a decrease of 7.2% from CNY 522,034,069.87 in the previous year[62] - The company is focusing on the development of new energy aluminum foil products, capitalizing on the growing demand for lithium batteries in the electric vehicle market[67] - Strategic partnerships have been established with leading battery manufacturers, including CATL, to enhance market position in the lithium battery aluminum foil sector[67] - The company is prioritizing the expansion of production capacity for high-end aluminum foil used in power batteries, which is a key development project[67] Financial Position and Equity - The total equity attributable to the parent company at the end of the period is 4,931,157,946.68 RMB, with a retained earnings of 1,845,194,902.69 RMB[173] - The company reported a total comprehensive income of 110,230,955.08 RMB for the current period, which includes a profit distribution of -97,953,567.80 RMB[179] - The capital reserve decreased by 386,593,809.21 RMB during the current period, while the total capital stock is 490,459,198.00 RMB[181] - The company’s total liabilities are not explicitly stated but can be inferred from the total equity and assets figures[179] Strategic Initiatives - The company established long-term strategic cooperation agreements with LG Energy, CATL Group, and SK Energy during the reporting period[91] - The company is focusing on lean management to reduce costs and improve efficiency[92] - The company is expanding its international sales primarily through direct sales, supplemented by distributors, to reach over 70 countries[90] - The company has established long-term stable cooperation with multiple electrolytic aluminum and aluminum processing enterprises, signing long-term supply contracts to mitigate price volatility risks[188] Inventory and Asset Management - The company measures inventory at the lower of cost and net realizable value, with provisions for inventory write-downs based on the difference between cost and net realizable value[111] - The company uses a perpetual inventory system and applies a monthly weighted average method for inventory issuance[133][134] - The company recognizes contract assets based on the rights to receive consideration that depend on factors other than the passage of time[135] Other Financial Information - The company reported a credit impairment loss of CNY -13,846,372.51, an improvement compared to CNY -17,041,229.31 in the previous period[64] - The foreign currency financial statement translation difference was CNY 19,191,378.20, a significant increase compared to CNY -3,864,606.98 in the previous period[63] - The company has no held-for-sale assets as of the reporting date[160] - The company has not reported any expected credit losses for debt investments or long-term receivables[161]