Heli Technology(SH:603917)2022-08-24 16:00Financial Performance - The company's operating revenue for the first half of 2022 was ¥312,351,564.22, a decrease of 11.14% compared to ¥351,518,252.70 in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2022 was ¥28,376,020.98, down 23.90% from ¥37,289,796.41 in the previous year[17]. - The basic earnings per share for the first half of 2022 were ¥0.1810, a decrease of 23.89% from ¥0.2378 in the same period last year[18]. - The weighted average return on net assets was 2.71%, down 0.68 percentage points from 3.39% in the previous year[18]. - The company reported a decrease of 26.91% in net profit after deducting non-recurring gains and losses, amounting to ¥19,784,053.26 compared to ¥27,068,745.72 in the previous year[17]. - The company reported a total profit for the first half of 2022 of CNY 30,793,830.01, down from CNY 37,057,190.12, reflecting a decline of 17.2% year-over-year[128]. - The company reported a total comprehensive income of CNY 32,625,459.44 for the current period[147]. Cash Flow and Investments - The net cash flow from operating activities increased by 2.37% to ¥60,526,167.99 compared to ¥59,125,582.28 in the same period last year[17]. - The net cash flow from investment activities decreased significantly by 171.46% to CNY -12,594,668.38, primarily due to a reduction in the recovery of financial investments[52]. - The net cash flow from financing activities increased by 55.59% to CNY -21,434,291.68, mainly due to the previous year's payment for equity transfer[53]. - The company reported a tax expense of CNY 2,818,656.38, compared to CNY 4,431,730.68 in the first half of 2021, reflecting a decrease of 36.3%[128]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,453,896,805.84, a decrease of 0.60% from ¥1,462,744,438.27 at the end of the previous year[17]. - The company's cash and cash equivalents at the end of the period increased by 47.23% to CNY 75,549,988.69[53]. - Total liabilities decreased from CNY 429,219,630.11 to CNY 412,032,277.32, a decline of about 4.0%[115]. - The company's long-term equity investments decreased to ¥1,541,967.70 from ¥2,495,859.26, a decline of about 38.4%[113]. Research and Development - Research and development expenses increased by 9.39% to CNY 17,780,922.47, indicating a commitment to innovation[52]. - The company has developed over 200 types of high-end casting and stamping molds, showcasing strong R&D capabilities in precision mold design and manufacturing[40]. - The company is actively promoting the research and application of non-heat treatment materials[50]. Market and Industry Trends - The decline in revenue and profit was primarily due to the impact of the pandemic and decreased sales of aluminum alloy components and products from the subsidiary Heli Braking[18]. - The automotive lightweighting trend is driving demand for aluminum alloy die-casting components, with major automakers transitioning to these materials[36]. - The company anticipates significant growth in the new energy vehicle sector, with projections indicating that by 2025, 25% of vehicle sales in China will be electric[38]. Business Model and Operations - The company operates in the specialized equipment manufacturing industry, specifically in the mold manufacturing sector, with a focus on automotive casting molds and aluminum alloy components[24][25]. - The company employs a "make-to-order" production model, ensuring customized products based on client specifications[32]. - The company has established a direct sales model, eliminating intermediaries and focusing on one-on-one customer engagement[35]. - The company has optimized its production process from "design first, then manufacture" to a "concurrent design and manufacturing" approach, improving production efficiency[46]. Environmental and Compliance - The company has implemented strict environmental operation standards and invested in pollution control measures, ensuring compliance with national environmental laws[74]. - The company is not listed as a key pollutant unit by the Ningbo Environmental Protection Bureau and has not faced any administrative penalties for environmental issues[74]. Shareholder Commitments and Governance - The company has committed to not reducing its shares during the lock-up period and will comply with relevant laws and regulations for any future share reductions[82]. - The company’s major shareholders promise to avoid holding shares in competing businesses and will not engage in activities that may compete with the company[89]. - The commitments made by the company and its major shareholders are effective immediately and are irrevocable during their tenure[90]. Management and Organizational Changes - The company has experienced changes in its senior management, with new appointments for the positions of board secretary and financial director[69]. - The total number of ordinary shareholders as of the end of the reporting period is 13,867[103].