XJEC(SZ:000400)2023-08-28 16:00Financial Performance - The company's operating revenue for the first half of 2023 was ¥7,114,261,071.17, representing a 16.06% increase compared to ¥6,129,583,494.94 in the same period last year[12]. - The net profit attributable to shareholders was ¥548,329,751.82, up 20.65% from ¥454,495,957.82 in the previous year[12]. - The net profit after deducting non-recurring gains and losses was ¥527,405,160.97, reflecting a 20.47% increase from ¥437,798,684.35 year-on-year[12]. - The net cash flow from operating activities was ¥920,988,245.55, a significant improvement of 468.52% compared to a negative cash flow of ¥249,916,326.92 in the previous year[12]. - Basic earnings per share increased to ¥0.5438, a rise of 20.66% from ¥0.4507 in the same period last year[12]. - The gross profit margin decreased to 18.73%, down by 1.66% from the previous year, with operating costs rising by 18.48% to ¥5,781,449,532.59[28]. - The total revenue for the first half of 2023 was reported at 14,805.89 million, with a year-on-year increase of 2.27%[71]. - The company's net profit for the first half of 2023 reached CNY 645.88 million, an increase of 17.1% compared to CNY 551.50 million in the same period of 2022[102]. Assets and Liabilities - Total assets at the end of the reporting period were ¥20,376,025,306.07, marking a 7.47% increase from ¥18,956,189,965.61 at the end of the previous year[12]. - The net assets attributable to shareholders reached ¥10,500,969,820.87, up 4.17% from ¥10,080,416,125.75 at the end of the last year[12]. - The total liabilities increased to CNY 8,894,071,062.10 from CNY 8,054,517,276.31, representing a rise of 10.4%[98]. - The company's cash and cash equivalents stood at CNY 4,187,058,839.56, compared to CNY 3,593,909,192.71 at the start of the year, indicating a growth of 16.5%[97]. - The balance of accounts receivable as of June 30, 2023, was approximately CNY 7.19 billion, up from CNY 6.44 billion at the beginning of the year[94]. Investment and Research - Research and development investment increased by 27.67% to ¥257,610,009.44, compared to ¥201,776,675.56 in the previous year[25]. - The company has made breakthroughs in core technologies, including offshore platform energy management and virtual power plants, and launched new products such as IP68 rated single-phase smart energy meters[19]. - The company aims to enhance its technological capabilities through ongoing research and development initiatives, targeting a 15% increase in R&D investment[114]. Market and Operations - The company has seen significant progress in marketing, with international market growth and successful projects in countries like Chile[20]. - The company has improved its operational management, achieving 100% on-time delivery for major projects like the Baihetan-Zhejiang UHV project[21]. - The company reported a significant increase in international revenue, which rose by 76.34% to ¥79,987,618.72, compared to ¥45,359,964.94 in the previous year[27]. Risk Management - The company has acknowledged various industry and market risks in its report, which are detailed in the section on risk management[2]. - The company has faced risks including policy changes, market competition, raw material price fluctuations, and talent acquisition challenges[44]. - The company has adopted unified procurement strategies to mitigate risks associated with raw material price volatility[44]. Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares for this reporting period[2]. - The company held its annual general meeting on May 9, 2023, with a participation rate of 49.13%[45]. - The first extraordinary general meeting of 2023 was held on June 16, 2023, with a participation rate of 56.00%[45]. - The company has appointed new executives, including Xu Tao as General Manager and Fan Zhanfeng as Deputy General Manager, effective May 9, 2023[47]. Environmental Responsibility - The company has been recognized as a national-level green supply chain management enterprise and has received various awards for its contributions to green manufacturing[22]. - The company has implemented a green procurement policy, prioritizing the purchase of equipment with high resource utilization and low pollutant emissions[63]. - The company has achieved a welding fume collection and purification rate of over 90% through a centralized collection system, qualifying for self-initiated emission reduction measures during heavy pollution periods[57]. Shareholder Information - The company distributed a cash dividend of 1.4 CNY for every 10 shares to shareholders in June 2023[64]. - The company reported a total of 2 shareholder meetings held in the first half of 2023, with online voting available for all shareholders[64]. - The largest shareholder, China Electric Equipment Group Co., Ltd., holds 38.31% of the shares, totaling 386,286,454 shares[81]. Financial Reporting and Compliance - The company’s financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance[126]. - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired[130]. - The company’s investment in equity instruments is measured at fair value, with cost representing the best estimate in certain limited circumstances[142].