凌志软件(688588) - 2023 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2023 was ¥335,281,866.53, representing a 3.75% increase compared to ¥323,162,629.32 in the same period last year[22]. - The net profit attributable to shareholders of the listed company decreased by 14.86% to ¥48,800,796.23 from ¥57,320,126.56 year-on-year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 7.17% to ¥38,984,502.49 compared to ¥36,376,394.58 in the previous year[22]. - The net cash flow from operating activities increased by 27.71% to ¥45,764,641.02 from ¥35,834,110.20 in the same period last year[22]. - The net assets attributable to shareholders of the listed company decreased by 5.01% to ¥1,274,572,095.80 from ¥1,341,814,965.54 at the end of the previous year[22]. - Total assets decreased by 7.00% to ¥1,350,403,000.35 from ¥1,451,995,669.49 at the end of the previous year[22]. - Basic earnings per share decreased by 14.29% to CNY 0.12 compared to the same period last year[23]. - The weighted average return on equity decreased to 3.57%, down 0.88 percentage points from the previous year[23]. - The company reported a significant reduction in short-term borrowings, with current liabilities totaling ¥62,640,961.37, down from ¥94,900,777.24, a decrease of approximately 34.00%[168]. Research and Development - Research and development expenditure accounted for 12.63% of operating revenue, an increase of 1.77 percentage points year-on-year[23]. - Total R&D investment for the reporting period was approximately ¥423.54 million, a 20.65% increase compared to the previous year, representing 12.63% of operating revenue[50]. - The number of R&D personnel increased to 290, up from 253 in the previous year, representing 14.57% of the total workforce[57]. - Total compensation for R&D personnel reached ¥4,012.53 million, compared to ¥3,367.87 million in the previous year[57]. - Average salary for R&D personnel rose to ¥13.84 million from ¥13.31 million year-on-year[57]. - The company has developed proprietary technologies, including an automated testing platform and a low-code development platform, enhancing software development efficiency and quality[39]. - The company emphasizes independent R&D, tracking international technology trends to develop core technologies that drive performance growth, including project management and cloud computing solutions[39]. Market Position and Strategy - The company has established long-term partnerships with major Japanese financial institutions, developing core business systems across various sectors including securities and banking[32]. - The company maintains a stable client base and high technical maturity, positioning itself for growth in the software development service industry[30]. - The company has established a significant market position in Japan's financial software development services, becoming one of the largest suppliers for Nomura Research Institute since 2004[34]. - The company has accumulated over 70 clients in the domestic securities market, including major firms like Guotai Junan and Haitong Securities, laying a solid foundation for future growth in software solutions[34]. - The company’s revenue model primarily derives from software development services and application software solutions, with a focus on maintaining a stable partnership with key clients[36]. Technology and Innovation - The company is focused on leveraging emerging technologies in the financial sector, including cloud computing and big data[29]. - The company has developed a self-owned low-code development platform that enhances development efficiency and reduces technical barriers, supporting various front-end frameworks like Angular and Vue[40]. - The company’s cloud database technology enables real-time access to millions of product data, including inventory and pricing, utilizing AI for dynamic analysis[41]. - The company has developed a new generation internet securities trading platform based on big data analysis, supporting high concurrency and high availability[42]. - The company has implemented cloud computing technologies extensively, utilizing Amazon Web Services (AWS) for various projects, enhancing IT operational capabilities[45]. Financial Management and Investments - The company reported a significant increase in net cash flow from investing activities, which rose by 378.80% to ¥69,050,016.73, due to cash management activities involving structured deposits and financial products[87]. - The company has received approval for a share repurchase plan with a maximum price of RMB 16.3 per share, totaling between RMB 120 million and RMB 200 million[145]. - The company has utilized RMB 59 million of temporarily idle raised funds for cash management, investing in high-security, liquidity products[142]. - The company has a cash management plan in place for temporarily idle funds, with a maximum limit of RMB 160 million[142]. - The company reported a total fundraising amount of CNY 385,045,659.53, with a net amount of CNY 265,250,000.00 after deducting issuance costs[138]. Risks and Challenges - The company's reliance on the Japanese market poses a risk, as software development services for Japan remain a key revenue source[78]. - The company faces risks related to high customer concentration, particularly dependence on its largest client, Nomura Research Institute[79]. - The company has not reported any significant environmental information or changes during the reporting period[118]. - The company has not engaged in any competitive business activities or investments that may conflict with its operations[130]. Corporate Governance and Shareholder Relations - The company has not reported any changes in its board or senior management, ensuring stability in governance[113]. - The profit distribution policy emphasizes continuous and stable returns to shareholders, with cash dividends prioritized[129]. - The company commits to maintaining stock price stability and protecting minority investors' interests if the stock price falls below net asset value within three years post-listing[127]. - The company has established a detailed management system for related party transactions to ensure fairness and transparency[136]. - The company has not reported any significant changes in the audit opinions from the previous annual report[134].