ROSHOW(SZ:002617)2023-08-23 16:00Financial Performance - The company's operating revenue for the first half of 2023 was approximately ¥1.30 billion, a decrease of 26% compared to ¥1.76 billion in the same period last year[15]. - The operating costs decreased by 33.96% to approximately ¥1.01 billion, down from ¥1.53 billion, primarily due to the decline in revenue[15]. - The financial expenses decreased by 48.23% to approximately ¥60.16 million, down from ¥116.20 million, due to reduced interest expenses[15]. - The total revenue for the reporting period was 1,304,463,430.6 RMB, a decrease of 26.00% compared to 1,762,899,360.5 RMB in the same period last year[116]. - The industrial manufacturing segment generated revenue of 854,925,253.32 RMB, accounting for 65.54% of total revenue, down 38.81% year-on-year[116]. - The photovoltaic business achieved revenue of 378,332,443.84 RMB, representing 29.00% of total revenue, with a year-on-year increase of 24.05%[116]. - The revenue from the electromechanical equipment segment was 115,227,334.57 RMB, showing a significant increase of 442.73% year-on-year[116]. - Net profit attributable to shareholders was ¥111,283,698.29, representing a significant increase of 431.23% year-on-year[121]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥100,184,882.38, up 527.58% from the previous year[121]. - The company's operating revenue for the reporting period was ¥1,304,463,430.62, a decrease of 26.00% compared to the same period last year[121]. Research and Development - Research and development expenses were approximately ¥41.98 million, a reduction of 37.08% compared to ¥66.73 million in the previous year[15]. - The company has a strong research team led by Dr. Chen Zhizhan, who has over 24 years of experience in silicon carbide crystal growth research[14]. - The company introduced a team led by Professor Chen Zhizhan in the silicon carbide field, aiming for rapid breakthroughs in applications for new energy vehicles and photovoltaic power generation[108]. - The company is committed to innovation as a driving force to enhance product competitiveness and develop new business categories[47]. - The company has established mechanisms to encourage technical innovation and ensure effective organization of R&D efforts[47]. Investments and Fundraising - The company raised a total of RMB 2,567,449,999.08 through a private placement of shares in 2021, with a net amount of RMB 2,512,526,098.54 after deducting issuance costs[36]. - As of June 30, 2023, the company has invested RMB 178,999,816.44 in fundraising projects, with RMB 42,772,397.48 invested in the current year[36]. - The balance of the fundraising account as of June 30, 2023, is RMB 2,333,526,282.10[36]. - The company reported a total of RMB 165,199,993.30 raised from a private placement in 2019, with a net amount of RMB 151,562,869.71 after expenses[36]. - The company has permanently supplemented working capital with remaining funds from terminated projects, including the "New Silicon Carbide Substrate Industrialization Project" and "Silicon Carbide R&D Center Project"[40]. Environmental Compliance - The company reported that its environmental emissions are within compliance limits, demonstrating adherence to regulatory standards[53]. - The company is committed to meeting environmental standards in its production processes[68]. - The company has a pollution discharge permit valid for 5 years, obtained on August 13, 2020[66]. - The company reported that all major pollutants are within the discharge standards, including particulate matter at 35 mg/m³ and non-methane total hydrocarbons at 3.8 mg/m³[68]. Market and Industry Outlook - The global market size for conductive silicon carbide substrates is expected to grow from $280 million in 2020 to $2.16 billion by 2027, reflecting a compound annual growth rate of 26%[9]. - The installed capacity for solar power generation in China reached approximately 470 million kilowatts by the end of June 2023, representing a year-on-year growth of 39.8%[10]. - The company is engaged in the production of silicon carbide, photovoltaic power generation, and enameled wire businesses, which are key strategic materials encouraged by national industrial policies[7]. - The company is focused on expanding its semiconductor materials production capabilities[66]. - The company is committed to supporting the national "dual carbon" goals through its investments in photovoltaic power generation and silicon carbide substrate chips[108]. Risks and Challenges - The company faces risks from macroeconomic fluctuations, with potential impacts on performance due to global economic recovery challenges and geopolitical tensions[47]. - The company is cautious about the implementation of its fundraising project for the third-generation power semiconductor (silicon carbide) industrial park, considering potential adverse changes in market conditions[47]. - The company has a pricing model for its enameled wire business that locks in copper prices plus processing fees to mitigate raw material price volatility risks[47]. Corporate Governance - The company has confirmed that all board members attended the meeting to review the semi-annual report[74]. - The company’s financial report is guaranteed to be true, accurate, and complete by the board of directors and management[85]. - The company has not disclosed any changes in its registered address or contact information during the reporting period[93]. - The company does not plan to distribute cash dividends or issue bonus shares for the current period[74]. - The employee stock ownership plan's second phase for 2022 was not completed, resulting in 600,000 shares becoming invalid, accounting for 0.03% of the total share capital[193].