Homa(002668)2023-08-28 16:00Financial Performance - The company's operating revenue for the first half of 2023 reached ¥5,200,276,624.11, representing a 32.43% increase compared to ¥3,926,700,124.82 in the same period last year[22]. - The net profit attributable to shareholders for the first half of 2023 was ¥400,956,471.28, a significant increase of 157.29% from ¥155,791,112.70 in the previous year[22]. - The net cash flow from operating activities was ¥870,762,539.81, marking a 208.91% increase compared to ¥281,884,601.29 in the same period last year[22]. - Basic earnings per share for the first half of 2023 were ¥0.37, up 164.29% from ¥0.14 in the previous year[22]. - Total assets at the end of the reporting period amounted to ¥8,316,284,324.31, reflecting a 26.16% increase from ¥6,591,388,505.83 at the end of the previous year[22]. - The net assets attributable to shareholders increased by 43.07% to ¥1,204,553,039.83 from ¥841,804,621.89 at the end of the previous year[22]. Sales and Market Performance - In the first half of 2023, the company achieved refrigerator and freezer sales of 5.73 million units, a year-on-year increase of 27.5%[40]. - The export sales volume of refrigerators and freezers was 3.09 million units, a year-on-year increase of 1.9%[30]. - Domestic sales volume reached 2.846 million units, with a year-on-year growth of 2.3%[32]. - The proportion of mid-to-high-end large-capacity products in total sales increased to 44.4%, up 5.6 percentage points year-on-year[41]. - The company has maintained its position as the largest ODM refrigerator manufacturer in China, with a continuous 14-year record of leading in export sales[37]. Cost and Expense Management - Operating costs increased to ¥3,734,569,273.17, reflecting an 18.24% rise compared to the previous year[47]. - The company has implemented a cost control system that has reduced the expense ratio by 2.5 percentage points year-on-year[41]. - Research and development expenses rose by 11.81% to ¥166,204,130.05, indicating continued investment in innovation[47]. Risk Management - The company faces potential market and credit risks, which are discussed in detail in the risk management section of the report[3]. - The company aims to expand its non-European markets to mitigate risks associated with export business and reduce reliance on single markets and customers[69]. - The company will diversify its supplier and procurement resources to address the risk of significant fluctuations in raw material prices, which are critical to its operations[70]. - The company has established mechanisms for foreign exchange hedging to mitigate risks associated with exchange rate fluctuations, particularly as its export business is primarily denominated in USD and EUR[71]. - The company conducts strict credit assessments for customers to manage credit risk and has implemented measures such as export credit insurance to safeguard against potential financial losses[72]. Environmental and Social Responsibility - The company is classified as a key pollutant discharge unit according to environmental protection regulations[81]. - The company holds a national pollutant discharge permit valid from May 5, 2023, to May 4, 2028[81]. - The company invested CNY 818,000 in environmental governance and protection in the first half of 2023[85]. - The company paid CNY 4,000 in environmental protection tax during the same period[85]. - The company has established an energy management system and obtained ISO 50001 certification[87]. - The company has developed an emergency response plan for environmental incidents and conducts regular drills to ensure its effectiveness[85]. Corporate Governance and Shareholder Engagement - The company emphasizes the protection of investor rights by ensuring compliance with legal regulations and enhancing transparency through timely and accurate information disclosure[90]. - The first extraordinary general meeting of 2023 had an investor participation rate of 13.08% on March 1, 2023[75]. - The annual general meeting for 2022 had a higher investor participation rate of 70.02% on March 29, 2023[75]. - The company has implemented a shareholder return plan based on feedback from shareholders and independent directors[90]. Financial Reporting and Audit - The half-year financial report has not been audited, indicating a need for future financial scrutiny[102]. - The financial report for the first half of 2023 has not been audited[138]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that the financial statements reflect a true and complete view of its financial status[185]. Future Outlook and Strategic Initiatives - The company plans to enhance its R&D investment and upgrade automation production lines to improve product quality and manufacturing efficiency in response to market competition risks[69]. - The company plans to continue expanding its market presence and investing in new product development to sustain growth momentum[149]. - The company is actively pursuing a major asset restructuring by planning to acquire 100% equity of TCL Home Appliances (Hefei) Co., Ltd. to avoid competition and promote business integration[120].