生益电子(688183) - 2021 Q2 - 季度财报

Financial Performance - Revenue for the first half of 2021 was CNY 1,688,750,675.15, a decrease of 11.41% compared to CNY 1,906,157,016.14 in the same period last year[25]. - Net profit attributable to shareholders was CNY 128,934,594.64, down 56.59% from CNY 296,986,016.45 in the previous year[25]. - Net cash flow from operating activities was CNY 102,078,954.40, a decline of 72.80% compared to CNY 375,255,150.84 in the same period last year[25]. - Basic earnings per share decreased by 62.22% to CNY 0.17 from CNY 0.45 in the same period last year[28]. - The company's performance has decreased compared to the same period last year due to a slowdown in customer order demand and rising raw material costs[29]. - Basic earnings per share, diluted earnings per share, and basic earnings per share after deducting non-recurring gains and losses have decreased compared to the same period last year, mainly due to an increase in total share capital and a decline in net profit[29]. - The decline in revenue is primarily due to a reduction in demand for communication equipment products during the industry's adjustment period[81]. Assets and Liabilities - Total assets increased by 36.00% to CNY 6,216,964,789.03 from CNY 4,571,383,737.15 at the end of the previous year[25]. - Net assets attributable to shareholders rose by 94.06% to CNY 3,768,205,229.54 from CNY 1,941,769,208.16 at the end of the previous year[25]. - Cash and cash equivalents at the end of the period amounted to ¥1,319,069,337.74, representing 21.22% of total assets, a significant increase of 735.31% compared to ¥157,913,230.04 from the previous year[87]. - Fixed assets reached ¥2,614,358,643.32, accounting for 42.05% of total assets, with a year-on-year increase of 34.49% due to the completion of the first phase of the Ji'an Shengyi project[87]. - The company's capital reserve increased to ¥2,253,374,938.51, which is 36.25% of total assets, reflecting a 406.60% rise from ¥444,800,017.41 in the previous year due to the premium from the initial public offering[87]. Research and Development - R&D expenditure as a percentage of revenue increased by 0.68 percentage points to 5.25% from 4.57% in the previous year[28]. - The company has obtained 173 invention patents and established 8 industry standards, showcasing its strong R&D capabilities[49]. - The company is actively developing high-end PCBs for 5G energy systems and intelligent automotive radar control systems[49]. - R&D expenses amounted to approximately ¥88.74 million, a 1.82% increase from the previous period, representing 5.25% of total revenue[53]. - The company is currently developing 13 projects, with total expected investments ranging from ¥12 million to ¥40 million for each project, focusing on advanced PCB technologies for 5G and high-end applications[56][58]. Market and Industry Trends - The global PCB industry is projected to grow at a compound annual growth rate (CAGR) of 5.8% from 2020 to 2025, reaching a market value of $86.325 billion by 2025[44]. - The PCB market in mainland China is expected to grow at a CAGR of 5.6%, reaching $46.044 billion by 2025[45]. - The demand for high-frequency and high-speed PCBs is anticipated to increase significantly due to the expansion of 5G infrastructure[43]. - The automotive electronics sector is projected to see PCB usage increase to four times that of traditional fuel vehicles by 2025, driven by the rise of electric and intelligent vehicles[48]. Environmental Compliance - The company reported wastewater pollution monitoring compliance, with a total allowable discharge of 3,000 tons/day for wastewater at the Dongguan East City factory[102]. - The company operates its own wastewater treatment system for certain pollutants, including silver and nickel[102]. - The company has achieved compliance with industrial noise emission standards as per GB12348-2008[111]. - The company has received multiple environmental impact assessment approvals for its new projects, including a PCB manufacturing project with a capacity of 150,000 Ft²/month[117]. - The company has constructed wastewater and sewage treatment systems with a total processing capacity of 4,500 m³/d, achieving compliance in all pollutant discharges[123]. Shareholder and Corporate Governance - The company commits to not infringe on its interests during its tenure as a controlling shareholder and will not interfere with the company's management[152]. - The company has established a clear strategy to avoid conflicts of interest and ensure fair dealings with related parties[138]. - The company guarantees compliance with relevant laws and regulations regarding share reduction, including advance notice requirements[136]. - The company has committed to resolving related party transactions in accordance with regulations[138]. - The company will ensure compliance with commitments made during its initial public offering, including compensation for any losses incurred by investors due to non-compliance[157].