Greenda(SH:603931)2023-08-27 16:00Financial Performance - The company's operating revenue for the first half of 2023 was ¥339.74 million, a decrease of 25.30% compared to ¥454.82 million in the same period last year[23]. - The net profit attributable to shareholders for the first half of 2023 was ¥77.72 million, down 16.45% from ¥93.02 million year-on-year[23]. - The net cash flow from operating activities increased by 25.15% to ¥99.71 million, compared to ¥79.67 million in the previous year[23]. - The net profit after deducting non-recurring gains and losses was ¥73.58 million, a decrease of 12.57% from ¥84.16 million year-on-year[23]. - The company achieved operating revenue of 339.74 million RMB in the first half of 2023, a decrease of 25.3% year-on-year[69]. - The net profit attributable to shareholders was 77.57 million RMB, down 16.62% year-on-year, while the net profit excluding non-recurring items was 73.43 million RMB, a decline of 12.76%[69]. - The company reported a total of CNY 90,372,299.50 in total profit for the first half of 2023, down from CNY 107,473,989.17 in the same period of 2022[156]. - The company reported a net loss attributable to shareholders for the period is CNY 49,889,595.00, indicating a challenging financial environment[170]. Assets and Liabilities - The company's total assets at the end of the reporting period were ¥1.56 billion, a slight increase of 0.47% from ¥1.55 billion at the end of the previous year[23]. - The total assets of the company at the end of the period amount to CNY 1,270,542,239.52, indicating a stable asset base[171]. - The total liabilities decreased to ¥188,401,315.15 from ¥212,073,476.27, a reduction of about 11.19%[149]. - The company's cash and cash equivalents dropped to ¥600,492,626.79 from ¥709,791,697.00, a decrease of approximately 15.39%[147]. - The total equity attributable to shareholders increased to ¥1,371,186,580.24 from ¥1,340,265,510.22, reflecting a growth of approximately 2.30%[149]. - The total current liabilities decreased to ¥169,613,336.44 from ¥192,787,522.59, a decline of about 11.99%[148]. Research and Development - The company holds 9 invention patents and 20 utility model patents, demonstrating strong R&D capabilities and industry recognition[58]. - The company’s R&D expenses amounted to 18.61 million RMB, a decrease of 21.24% compared to the previous year, reflecting a focus on cost management[69]. - The company is focusing on key technology breakthroughs in semiconductor materials, with ongoing projects aimed at localizing supply chains and enhancing self-sufficiency[67]. - The company has developed a more environmentally friendly carbonates electrolysis method for producing electronic-grade TMAH developer, enhancing product stability and reducing production costs[57]. Market and Industry Trends - The semiconductor display industry is showing signs of recovery, with TV LCD panel prices rising, leading to increased demand for upstream materials and improving the overall industry chain[50]. - OLED panel penetration in the smartphone market increased from 30% in 2020 to 42% in 2022, with further growth expected[51]. - AMOLED display panel shipment area is projected to grow from 14.1154 million square meters in 2022 to 34.7076 million square meters by 2029, representing a CAGR of 13.72%[51]. - The display industry is experiencing improved inventory and pricing conditions, with a forecasted moderate growth in demand for display panels in the second half of 2023[52]. Corporate Governance and Compliance - The management confirmed that there are no non-operating fund occupation situations by controlling shareholders or related parties[6]. - The company has not violated decision-making procedures for external guarantees[6]. - The board of directors and management guarantee the authenticity, accuracy, and completeness of the semi-annual report[7]. - The company has established a corporate governance structure including a shareholders' meeting, board of directors, and supervisory board[179]. - The company has committed to publicly disclose any failure to fulfill its commitments and to take measures to minimize investor losses[119]. Shareholder and Stock Information - The company reported no profit distribution plan or capital reserve transfer plan during the reporting period[4]. - The largest shareholder, Hangzhou Electric Chemical Group Co., Ltd., holds 84,055,846 shares, representing 42.12% of the total shares[138]. - The company plans to implement a stock buyback if the stock price falls below the latest audited net asset value for 20 consecutive trading days within three years post-IPO[98]. - The controlling shareholder is required to increase their stake in the company to stabilize the stock price, with a minimum purchase of 1% of total shares and a maximum of 5% in a single fiscal year[100]. Risk Management - The company has detailed potential risks in the report, which can be found in the management discussion and analysis section[6]. - The company faces risks related to safety production and environmental protection, which could adversely affect operations[76]. - The company is exposed to market risks due to potential fluctuations in macroeconomic conditions and downstream industry changes[79]. - The company has implemented measures to manage foreign exchange risks, but significant fluctuations in the RMB/USD exchange rate could still affect performance[81]. Environmental and Social Responsibility - The company is committed to reducing carbon emissions through energy-saving upgrades and digital transformation initiatives, including the establishment of a WMS intelligent warehousing system[88]. - The company has established measures to ensure that its controlling shareholders do not engage in activities that could harm the interests of the company and its shareholders[122].