崇达技术(002815) - 2021 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2021 was ¥2,715,092,346.83, representing a 25.26% increase compared to ¥2,167,554,977.68 in the same period last year[23]. - The net profit attributable to shareholders of the listed company decreased by 9.04% to ¥245,291,588.55 from ¥269,682,015.72 in the previous year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥228,527,391.94, down 6.69% from ¥244,914,257.37 in the same period last year[23]. - The net cash flow from operating activities increased by 17.61% to ¥432,551,044.52, compared to ¥367,791,019.06 in the previous year[23]. - Total assets at the end of the reporting period were ¥8,200,769,059.64, a 6.73% increase from ¥7,683,984,221.64 at the end of the previous year[23]. - The net assets attributable to shareholders of the listed company increased by 0.92% to ¥4,235,154,113.60 from ¥4,196,722,795.60 at the end of the previous year[23]. - Basic earnings per share decreased by 9.68% to ¥0.28 from ¥0.31 in the same period last year[23]. - Diluted earnings per share also decreased by 9.68% to ¥0.28 from ¥0.31 in the previous year[23]. - The weighted average return on net assets was 5.72%, down from 6.82% in the previous year, a decrease of 1.10%[23]. Market and Industry Insights - The global PCB market is projected to reach 86.3 billion USD by 2025, with a compound annual growth rate (CAGR) of 5.8% from 2020 to 2025[40]. - The PCB market in mainland China is expected to reach 46.12 billion USD by 2025, maintaining a stable market share with a CAGR of 5.6%[42]. - The demand for HDI and packaging substrates is expected to drive significant growth in the PCB industry, with projected CAGRs of 9.7% and 6.7% respectively from 2020 to 2025[46]. Sales and Production - The company's domestic sales revenue grew by 26.66% year-on-year, with the domestic market share reaching 36.63%[35]. - The company's high-end PCB products saw a sales area increase of 21.07% in the first half of 2021, with HDI products experiencing a significant growth of 36.99%[52]. - The company achieved a production and sales area of 2.3738 million square meters and 2.31 million square meters respectively in the first half of 2021, with a sales volume increase of 33.77%[55]. - The company's export revenue reached CNY 1,632,908,645.69, accounting for 60.14% of total revenue, with a year-on-year growth of 21.22%[63]. Research and Development - Research and development expenses for the first half of 2021 amounted to CNY 119 million, focusing on 5G-related products and applications in communication transmission networks, core networks, and data centers[59]. - The company plans to continue increasing investment in R&D for 5G products to enhance overall competitiveness and production capabilities[59]. Environmental Compliance - The company reported a total nitrogen discharge of 2,377.05 kg, which is below the approved limit of 15,840 kg[95]. - The total phosphorus discharge was recorded at 92.83 kg, with no exceedance of the discharge standards[95]. - The company achieved a total copper discharge of 8.25 kg, compliant with the relevant pollution discharge standards[95]. - The total chemical oxygen demand (COD) was 16,046.63 kg, significantly below the approved limit of 63,360 kg[95]. - The company has implemented strict pollution control measures, resulting in no exceedance of discharge limits for various pollutants[95]. - The company is actively monitoring and managing its environmental impact, ensuring compliance with national standards[95]. Financial Management and Investments - The total amount of guarantees provided by the company during the reporting period reached CNY 401,800.5 million, with an actual guarantee amount of CNY 26,200 million[132]. - The company has entrusted financial management with a total amount of CNY 102,000 million, with an outstanding balance of CNY 65,000 million[135]. - The company decided to deregister its wholly-owned subsidiary Nantong Chongda, which had not commenced operations, to concentrate resources on strengthening its IC carrier board business[139]. Shareholder and Equity Information - The total number of shares decreased from 882,546,777 to 875,638,316, a reduction of 6,908,461 shares, representing a decrease of approximately 0.78%[144]. - The number of restricted shares held by shareholders decreased by 12,705,825 shares, from 458,648,376 to 445,942,551, a reduction of about 2.77%[146]. - The company repurchased and canceled 6,911,100 shares of restricted stock on June 1, 2021[147]. - The largest shareholder, Jiang Xuefei, holds 56.85% of the shares, totaling 497,821,720 shares[150]. Risks and Challenges - The company faces risks from macroeconomic fluctuations and industry cycles, which could impact profitability if economic recovery slows[80]. - The company's raw material costs account for approximately 70% of total costs, significantly influenced by copper, oil, and gold prices, which poses a risk to operational performance if prices fluctuate dramatically[81]. - Foreign sales contribute about 60% of the company's revenue, primarily settled in USD, making the company vulnerable to exchange rate fluctuations, particularly with the appreciation of the RMB[81].