凤形股份(002760) - 2023 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2023 was ¥370,661,184.43, a decrease of 4.90% compared to ¥389,779,593.33 in the same period last year[22]. - The net profit attributable to shareholders was ¥21,051,556.57, down 25.03% from ¥28,078,966.47 year-on-year[22]. - Basic earnings per share decreased by 26.92% to ¥0.19 from ¥0.26 in the same period last year[22]. - The net profit after deducting non-recurring gains and losses was ¥11,722,434.28, a decrease of 9.62% from ¥12,969,865.23 year-on-year[22]. - The company's profit before tax decreased significantly, leading to a drastic reduction in income tax expenses by 87.63% to ¥409,368.51[39]. - The total comprehensive income for the first half of 2023 was CNY 21,051,556.57, down from CNY 28,078,966.47 in the previous year, reflecting a similar trend in profitability[139]. Cash Flow and Investments - The net cash flow from operating activities was negative at ¥-18,450,658.48, a decline of 145.38% compared to ¥40,659,991.80 in the previous year[22]. - The net cash flow from operating activities for the first half of 2023 was -18,450,658.48 CNY, a significant decrease compared to 40,659,991.80 CNY in the same period of 2022, indicating a decline of approximately 145.4%[144]. - The net cash flow from investing activities was -27,499,617.71 CNY in the first half of 2023, worsening from -14,421,354.56 CNY in the same period of 2022[145]. - Cash inflow from financing activities dropped significantly to 7,587,102.58 CNY in the first half of 2023, compared to 138,445,558.42 CNY in the first half of 2022, a decrease of approximately 94.5%[145]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,690,656,833.55, down 4.73% from ¥1,774,630,442.01 at the end of the previous year[22]. - The company's total current assets amounted to ¥1,009,160,342.81, a decrease from ¥1,089,857,635.52 on January 1, 2023, representing a decline of approximately 7.4%[129]. - Total liabilities decreased to CNY 703,717,367.95 from CNY 787,144,791.78 at the start of the year[131]. - Owner's equity as of June 30, 2023, was CNY 986,939,465.60, slightly down from CNY 987,485,650.23[131]. Research and Development - Research and development expenses were ¥18,970,004.82, a slight decrease of 0.61% from ¥19,087,182.04 in the previous year[39]. - The company has developed 16 invention patents and 142 utility model patents in the marine electric system solutions and special motors segment, demonstrating its strong R&D capabilities[35]. Market and Sales - Domestic sales accounted for 87.90% of total revenue at ¥325,828,032.73, while international sales increased by 56.40% to ¥44,833,151.70, representing 12.10% of total revenue[41]. - The company aims to expand its market presence in high-end grinding materials, leveraging its established reputation and customer relationships[36]. - The company reported a sales increase of 6.64% in the first half of 2023, reaching a total of 1,800 million[90]. Corporate Governance and Compliance - The company has outlined potential risks and countermeasures in its report, urging investors to be aware of investment risks[5]. - The company received a corrective order from the Jiangxi Securities Regulatory Bureau on April 6, 2023, and has taken measures to address the issues raised[88]. - The semi-annual financial report has not been audited[85]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 9,197[115]. - The largest shareholder, Taihao Group Co., Ltd., holds 23.28% of the shares, amounting to 25,142,857 shares, with 18,856,270 shares pledged[115]. - Jiangxi Taihao Technology Development Co., Ltd. holds 18.51% of the shares, totaling 19,988,706 shares, with 17,241,423 shares pledged[115]. Risk Factors - The company faces risks from economic recovery not meeting expectations, which could impact business expansion[65]. - The competitive landscape in the wear-resistant materials industry is intensifying, with many domestic manufacturers and low industry concentration[67]. - Fluctuations in raw material prices, such as scrap steel and high-carbon ferrochrome, directly impact production costs[66].