Desay Battery(SZ:000049)2023-08-30 16:00Business Focus and Strategy - The company focuses on the lithium battery industry chain, emphasizing power management systems and packaging integration, while actively promoting emerging businesses with high market potential, such as energy storage cells and advanced SIP packaging [45]. - The company is expanding its market presence in smart hardware assembly, targeting applications in smartphones, laptops, and energy storage products [45]. - The company is continuously optimizing its business structure and enhancing its manufacturing platform to maintain core competitive advantages in the lithium battery manufacturing sector [47]. - The company is focusing on automation and smart manufacturing, aiming to reduce direct labor and enhance product consistency and reliability [49]. - The company has established long-term stable relationships with core customers, leveraging direct sales models and participating in early-stage product R&D and design [25]. Financial Performance - Total revenue for the reporting period was ¥8,795,629,214.09, representing a year-on-year decrease of 7.20% [76]. - Revenue from smartphones was ¥3,972,197,850.25, accounting for 45.16% of total revenue, with a year-on-year decline of 6.03% [76]. - Revenue from smart wearables dropped significantly by 40.19% to ¥810,365,606.78, representing 9.21% of total revenue [76]. - The company reported a net loss of ¥2,447,840 for the reporting period, indicating challenges in profitability [84]. - Basic earnings per share for the first half of 2023 were RMB 0.5864, down from RMB 1.0269 in the same period last year [198]. Research and Development - The company has a strong R&D capability and innovation ability, with a leading position in technology levels for lithium battery products in various applications [48]. - The company has increased its R&D investment in SIP technology and energy storage cells, with R&D expenses rising by 18.86% year-on-year [50]. - The SIP business achieved sales of 730 million yuan in the first half of 2023, representing a year-on-year growth of 217.99% [50]. - The energy storage cell project commenced mass production in May 2023, with capacity ramp-up progressing smoothly [50]. Risk Management - The company is enhancing its foreign exchange risk management capabilities to mitigate potential adverse impacts from currency fluctuations [92]. - The company is facing risks from intensified market competition and declining gross margins in the lithium battery power management system and packaging integration sectors due to increased production capacity in the renewable energy market [103]. - The company plans to optimize product and customer structures to mitigate risks associated with high customer concentration [91]. Environmental and Social Responsibility - The company has implemented measures to reduce carbon emissions, including the construction of a 3MWp photovoltaic power generation project, which can save approximately 480 tons of standard coal and reduce CO2 emissions by about 2,000 tons annually [123]. - The company has achieved a cumulative grid-connected power generation capacity of 3.75MWp from its photovoltaic projects, generating approximately 3.9 million kWh of electricity per year [123]. - The company has not experienced any significant environmental penalties during the reporting period and has complied with environmental protection laws [122]. - The company strictly adheres to national environmental laws and regulations, ensuring the health and safety of employees during the manufacturing process [144]. Shareholder and Corporate Governance - The company held its first extraordinary general meeting of shareholders in 2023 with a participation rate of 45.48% on March 1, 2023 [95]. - The company’s board of directors approved a share placement plan to optimize capital structure and enhance risk resistance, which was approved by the Shenzhen Stock Exchange on June 2, 2023 [180]. - The company’s major shareholders did not change during the reporting period [187]. - The company has maintained a stable relationship with related parties, ensuring fair market pricing for transactions [152]. Investment and Capital Management - The company has invested 650.73 million yuan in various projects during the reporting period, with a cumulative investment of 2.7 billion yuan [56]. - The company has a total of 106 million RMB approved guarantees for subsidiaries, with an actual guarantee balance of 33.93 million RMB at the end of the reporting period [160]. - The company has invested 56.59 million RMB in bank financial products, with an outstanding balance of 25.61 million RMB [162]. - The company reported no overdue amounts from financial products, and no impairment losses were recognized [162].