JEMC(SZ:000922)2023-08-17 16:00Financial Performance - The company's operating revenue for the first half of 2023 was ¥2,102,515,618.21, representing a 22.65% increase compared to ¥1,714,213,046.92 in the same period last year[93]. - Net profit attributable to shareholders was ¥199,598,612.38, up 31.09% from ¥152,257,651.15 year-on-year[93]. - The net profit after deducting non-recurring gains and losses was ¥173,742,785.49, reflecting a 33.54% increase from ¥130,108,825.74 in the previous year[93]. - The basic earnings per share increased to ¥0.33, a rise of 32.00% compared to ¥0.25 in the same period last year[93]. - The company's total assets decreased by 8.72% to ¥5,800,648,153.36 from ¥6,354,501,670.50 at the end of the previous year[93]. - The net assets attributable to shareholders increased by 4.38% to ¥3,135,800,549.41 from ¥3,004,105,352.45 at the end of the previous year[93]. - The net cash flow from operating activities was negative at -¥504,882,397.12, worsening by 196.92% compared to -¥170,037,566.85 in the same period last year[93]. - The company's half-year financial report has not been audited[45]. - The management highlighted the uncertainty in future earnings forecasts due to market conditions, emphasizing the need for investors to be aware of investment risks[71]. - The weighted average return on equity was 6.43%, an increase of 0.90% from 5.53% in the previous year[93]. Shareholder Matters - The annual shareholders' meeting had a participation rate of 44.07% on May 12, 2023[11]. - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[13]. - The company does not plan to distribute cash dividends or issue bonus shares for this fiscal year[72]. Legal and Compliance Issues - The company has faced claims from minority shareholders due to alleged false statements, impacting total profits[5]. - The company reported a total of 13 lawsuits as a plaintiff, with a total amount involved of 14.66 million yuan, and has won or settled all cases[48]. - The company has paid a total of 83.21 million yuan in compensation to 1,620 plaintiffs related to a securities false statement case, with ongoing cases still under review[50]. - The company has established a litigation working group to address legal risks and has compensated eligible shareholders through a one-on-one settlement approach[167]. - The company has not engaged in any related party transactions during the reporting period[54]. - The company has no non-operating fund occupation by controlling shareholders or other related parties during the reporting period[43]. - The company has not experienced any violations regarding external guarantees during the reporting period[44]. - The company is actively working on resolving competition issues with its controlling shareholder, with plans to transfer 51% of the shares of a subsidiary to eliminate competition[40]. - The company has not undergone any bankruptcy reorganization during the reporting period[46]. Environmental and Social Responsibility - The company has implemented measures to reduce carbon emissions, including upgrading dust collection bags for biomass boilers, resulting in improved air pollutant discharge[36]. - The company actively supported poverty alleviation efforts, purchasing local products worth 620,500 RMB to aid rural revitalization[37]. - The company has enhanced noise control measures, significantly reducing noise levels around its facilities[29]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[35]. - The company is committed to developing energy-saving, environmentally friendly, low-noise, and high-efficiency new products and technologies[37]. - The company has updated its emergency response plan for environmental incidents in accordance with local ecological environment bureau requirements[30]. - In the first half of 2023, the company paid a total of 9,680.67 RMB in environmental protection taxes[33]. Talent and Human Resources - The company completed social recruitment of 150 individuals and signed contracts with 81 fresh graduates during the reporting period[37]. - The company has established a "dual headquarters" model to enhance talent development and technological innovation, with 220 technical personnel, including 158 with senior titles[139]. Market and Product Development - The company has implemented measures to enhance its marketing strategies in response to macroeconomic conditions[4]. - The company has developed the first domestic nuclear-grade electric motor, achieving international advanced levels and filling domestic gaps, with voltage ratings from 380V to 10,000V and power ratings from 0.37kW to 12,000kW[115]. - The demand for lifting and metallurgical motors has increased due to environmental relocations and capacity replacement projects in the metallurgy industry, with the YZR series motors leading the market[112]. - The company has established a national explosion-proof motor engineering technology research center, focusing on independent research and development while collaborating with universities and research institutes[110]. - The company’s shielding motors and pumps have achieved a dominant market position, particularly in defense, nuclear power, and aerospace sectors, contributing significantly to key national projects[113]. - The company’s ordinary electric motors are facing pressure from global economic downturns and rising raw material prices, affecting their market position[116]. - The company’s vertical water pump motors are experiencing high demand, which is expected to become a new growth point for the company[120]. - The company has a procurement model that prioritizes quality, cost, and proximity, utilizing both public and self-bidding methods for sourcing materials[107]. - The company’s production model is based on "sales-driven production," allowing for multi-variety batch production according to customer demand[108]. - The company has developed the YBKK series high-voltage explosion-proof three-phase asynchronous motor, which boasts high efficiency, low noise, and a long service life, comparable to international advanced products[125]. - The company is a leading manufacturer of explosion-proof synchronous motors, with the 10,000kW-20p synchronous motor being the largest of its kind in China, featuring high starting torque and low starting current characteristics[126]. - The company has initiated the project for the development of high-voltage first-level energy-efficient motors, successfully producing prototypes that meet international advanced efficiency standards[127]. - The LNG low-temperature submersible motor has been patented, with the company capable of producing both high and low-pressure LNG products[128]. - The K1 class motor for pressurized water nuclear power plants has broken foreign technology monopolies, achieving domestic production capabilities for nuclear-grade equipment[129]. - The main helium fan for high-temperature gas-cooled reactors is a key power device, providing sufficient helium flow to remove heat from the reactor core, and is at the leading level internationally[130]. - The NEB series explosion-proof three-phase asynchronous motor has achieved UL and CSA certifications, enabling the company to enter the North American explosion-proof motor market[134]. Research and Development - The company's R&D investment increased by 15.78% to ¥181,798,910.32, up from ¥157,019,852.98, reflecting a focus on new product development and technology personnel compensation[147]. - The company held 254 valid patents as of June 30, 2023, including 22 invention patents, enhancing its market protection and competitiveness[144]. Financial Management - The company's financial expenses decreased by 22.66% to -¥5,555,459.98, down from -¥7,183,317.20, due to reduced interest expenses[147]. - The total amount of trading financial assets at the end of the period was ¥715,348,215.91, with a fair value change gain of ¥13,637,647.65 during the period[155]. - The company has no significant equity investments or non-equity investments reported during the period[158]. - The total balance of receivable dividends decreased from ¥333,419,795.81 at the beginning of the period to ¥298,419,795.81 at the end of the period, representing a decline of approximately 10.5%[179]. - The provision for bad debts increased from ¥62,934.11 at the beginning of the period to ¥307,368.62 at the end of the period, indicating a significant increase in provisions of approximately 387.5%[180]. - The total balance of other receivables decreased from ¥31,648,754.70 at the beginning of the period to ¥30,859,513.37 at the end of the period, reflecting a decrease of about 2.5%[191]. - The total amount of overdue receivables over 1 year reached ¥3,272,381.70, with 62.43% attributed to receivables over 5 years[200]. - The company recorded a provision for bad debts of ¥244,434.51 during the period, contributing to the total provision balance of ¥307,368.62[182]. - The balance of other receivables from Jiamusi Electric Motor Co., Ltd. was ¥298,419,795.81, unchanged from the previous period[179]. - The company reported a total of ¥11,341,594.96 in provisions for bad debts related to other receivables, after accounting for recoveries[194]. - The balance of deposits and guarantees increased from ¥8,242,851.58 to ¥9,551,806.46, showing an increase of approximately 15.9%[191]. - The company has identified significant overdue amounts, with the largest overdue receivable being ¥2,042,907.23, which accounts for 62.43% of the total overdue receivables[200].