Increase(SZ:300713)2023-08-28 16:00Financial Performance - The company's operating revenue for the first half of 2023 was ¥127,282,623.12, a decrease of 14.19% compared to ¥148,335,476.91 in the same period last year[25]. - The net profit attributable to shareholders was -¥15,541,087.27, representing a decline of 92.99% from -¥8,052,594.00 in the previous year[25]. - The cash flow from operating activities showed a net outflow of -¥10,012,399.07, which is a 17.39% increase in outflow compared to -¥8,529,089.25 last year[25]. - The total assets at the end of the reporting period were ¥927,396,649.32, down 10.38% from ¥1,034,759,422.92 at the end of the previous year[25]. - The net assets attributable to shareholders decreased by 2.10% to ¥657,795,255.29 from ¥671,917,722.84 at the end of the previous year[25]. - The basic earnings per share were -¥0.0985, a decrease of 93.14% compared to -¥0.0510 in the same period last year[25]. - The diluted earnings per share were also -¥0.0985, reflecting the same percentage decrease as the basic earnings per share[25]. - The weighted average return on net assets was -2.34%, down from -1.11% in the previous year[25]. - The company reported a significant increase in non-recurring losses, with the net profit excluding non-recurring items at -¥16,425,879.11, a 60.31% increase in loss compared to -¥10,246,547.74 last year[25]. Market and Industry Insights - The Chinese switch power supply market reached a scale of 183.2 billion in 2020, with a projected growth to 250 billion by 2025[32]. - The company operates in the smart high-frequency switch power supply sector, which is crucial for industries such as new energy vehicles, power, and telecommunications[33]. - New energy vehicle sales in China reached 3.747 million units in the first half of 2023, a year-on-year increase of 44.1%, with a market share of 28.3%[35]. - The charging infrastructure in China saw an increase of 144.2 thousand units in the first half of 2023, bringing the total to 665.2 thousand units, a 69.8% year-on-year increase[37]. - The domestic charging pile market is expected to add 958.4 thousand units in 2023, with significant growth in both public and private charging stations[38]. - The market space for charging piles in China is projected to reach 72.912 billion by 2025, with a CAGR of 50.95% from 2022 to 2025[40]. - The company is positioned to benefit from national policies supporting the development of new energy vehicles and charging infrastructure[42]. Research and Development - As of June 30, 2023, the company's R&D investment reached 26.37 million yuan, accounting for 20.72% of revenue, an increase from 16.38% in the same period last year[71]. - The company has a total of 132 R&D personnel, representing 24.67% of the total workforce, with core technical staff having years of experience in the field[71]. - The company has established a stable and mature technology research and development team, with a wide range of high-quality products and a diverse marketing network[49]. - The company aims to maintain its position as a leading supplier and solution provider in the power electronics industry, adhering to its corporate values of practicality, innovation, mutual benefit, and win-win cooperation[49]. - The company has increased its R&D investment due to a focus on product upgrades and market expansion, reflecting a commitment to technological advancement[71]. Investment and Financial Management - The company reported a total investment of CNY 38.5 million across all committed investment projects, with CNY 30.16 million utilized by the end of the reporting period[96]. - The company has committed to an investment project for the smart high-frequency switch power supply industrialization project with a total investment of CNY 23.5 million, achieving a funding progress of 100.30% as of the end of the reporting period[96]. - The company has established a supply chain system that allows for efficient procurement based on production plans, market forecasts, and customer orders[63]. - The company has implemented cost control measures through long-term supplier partnerships and scale procurement to reduce manufacturing costs[72]. - The company has maintained compliance with regulations regarding the use and management of raised funds, ensuring timely and accurate disclosures[98]. Corporate Governance and Compliance - The company adheres to relevant laws and regulations to protect shareholder rights, ensuring timely and accurate information disclosure[139]. - The company has established a comprehensive training mechanism to enhance employee competency and satisfaction, contributing to a harmonious labor relationship[141]. - The company maintains a fair supplier management system, ensuring the protection of supplier rights and fostering stable cooperation[143]. - The company emphasizes the importance of communication with stakeholders to balance interests and promote sustainable development[143]. - The company has not reported any significant changes in project feasibility for the committed investment projects[96]. Future Outlook and Strategic Initiatives - The company expects a revenue growth of 25% for the second half of 2023, driven by new product launches and market expansion[149]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2024[149]. - A strategic acquisition of a local tech firm is anticipated to enhance product offerings and customer reach[149]. - The company aims to launch three new products in Q4 2023, which are anticipated to contribute an additional 500 million yuan in revenue[151]. - The company is committed to sustainable practices, aiming for a 50% reduction in carbon emissions by 2025[149]. Shareholder Information - The total share capital increased from 157,781,250 shares to 158,718,664 shares due to the exercise of 937,414 stock options under the first phase of the stock option incentive plan[181]. - Major shareholder Yin Wei holds 44.36% of the shares, totaling 70,408,970 shares, with 52,806,727 shares being restricted[185]. - The company has not reported any significant impact on earnings per share or net asset value per share due to the stock option exercise[181]. - The company has complied with all necessary approvals for the stock option incentive plan and share changes[181].