经纬辉开(300120) - 2021 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 1,546,861,582.30, representing a 20.30% increase compared to CNY 1,285,796,727.42 in the same period last year[23]. - The net profit attributable to shareholders of the listed company decreased by 37.70% to CNY 26,294,846.37 from CNY 42,207,773.15 in the previous year[23]. - The basic earnings per share decreased by 37.67% to CNY 0.0566 from CNY 0.0908 in the previous year[23]. - The company reported a 4.16% increase in net profit attributable to shareholders after deducting non-recurring gains and losses, reaching CNY 22,490,225.69 compared to CNY 21,591,072.79 in the previous year[23]. - The company achieved operating revenue of CNY 1,546.86 million, a year-on-year increase of 20.30%[50]. - The net profit for the period was CNY 26.29 million, representing a year-on-year decrease of 37.70%[50]. - The company reported a non-recurring net profit of CNY 22.49 million, which is a year-on-year increase of 4.16%[50]. Cash Flow and Assets - The net cash flow from operating activities improved significantly to CNY 2,626,827.72, a 100.74% increase from a negative cash flow of CNY -357,022,607.82 in the same period last year[23]. - Cash and cash equivalents at the end of the reporting period amounted to ¥279,013,098.84, representing 6.72% of total assets, a decrease of 1.22% compared to the previous year[62]. - Accounts receivable increased to ¥831,036,195.21, accounting for 20.02% of total assets, up by 1.27% year-on-year[62]. - Inventory rose to ¥711,958,282.50, making up 17.15% of total assets, an increase of 3.36% due to rising material prices and delayed order deliveries[62]. - The company reported a significant decrease in long-term equity investments, down to ¥26,726,816.89, which is 0.64% of total assets, a decline of 3.65% due to loss of significant influence over a subsidiary[62]. - The company's total assets amounted to CNY 2,759,233,347.49, up from CNY 2,654,431,953.31 in the previous year, indicating a growth of 3.9%[182]. Business Operations - The main business involves the R&D, production, and sales of LCD display devices, touch modules, electromagnetic wires, and reactors, with applications in power, automotive, home electronics, medical devices, and industrial control[30]. - The company adopts a "make-to-order" production model, ensuring that raw materials are procured based on customer orders, which include integrated circuits, TFT displays, and flexible circuit boards[31]. - The sales of touch display products are primarily direct sales, with key markets in the United States, Europe (mainly the UK, France, and Germany), and Asia[33]. - The company has a strong position in the high-end electromagnetic wire sector, driven by demand from domestic ultra-high voltage projects[46]. - The company is actively expanding its product types and applications in new energy and civil sectors to strengthen its market position[46]. Research and Development - Research and development expenses rose by 17.99% to CNY 43.34 million, reflecting the company's commitment to innovation[57]. - The company has established a robust R&D management system to enhance product competitiveness and innovation[51]. - Ongoing research and development efforts have led to the introduction of two new technologies, which are anticipated to enhance production efficiency by 30%[107]. - The company is actively engaged in research and development of new technologies to drive future growth[148]. Market and Competition - The company faces intensified market competition in the touch display industry, which may lead to decreased product sales prices and overall profit decline if it fails to adapt to market changes in technology upgrades and quality control[82]. - The overseas sales business, primarily managed by subsidiaries in the US and Hong Kong, accounts for a significant portion of revenue, exposing the company to risks related to political, economic, and regulatory changes in those regions[84]. - The company is expanding into new product lines, including RF front-end modules, which may face risks from industry policies and market competition if not managed effectively[87]. Shareholder and Financial Policies - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company has a stable profit distribution policy, actively returning value to investors[115]. - The company has outlined a shareholder return plan for the next three years (2021-2023) to enhance investor confidence[148]. - The company has received approval from the Shenzhen Stock Exchange for the issuance of shares and is currently in the process of responding to inquiries from the exchange[149]. Social Responsibility and Compliance - The company continues to prioritize social responsibility, actively engaging with stakeholders and contributing to community development initiatives[113]. - The company emphasizes environmental protection and sustainable development as part of its corporate strategy[118]. - There were no significant environmental penalties reported during the period, indicating compliance with environmental regulations[110]. - The company has not reported any issues or questions regarding the use and disclosure of raised funds during the reporting period[74].