Actblue (SZ:300816)2023-08-28 16:00Financial Performance - The company's revenue for the first half of 2023 was ¥511,036,577.08, representing a 17.25% increase compared to ¥435,866,944.41 in the same period last year[26]. - The net profit attributable to shareholders decreased by 32.95% to ¥15,304,902.08 from ¥22,826,171.78 year-on-year[26]. - The net cash flow from operating activities turned negative at -¥64,861,652.03, a decline of 221.37% compared to ¥53,442,178.80 in the previous year[26]. - The total assets increased by 11.26% to ¥1,994,819,030.24 from ¥1,792,900,889.22 at the end of the previous year[26]. - The company reported a significant decline in net profit after deducting non-recurring gains and losses, which fell by 99.63% to ¥28,098.58 from ¥7,631,288.98 year-on-year[26]. - The company achieved operating revenue of 51,103.66 million yuan, an increase of 17.25% compared to the previous year[43]. - The net profit attributable to shareholders was 1,530.49 million yuan, a decrease of 32.95% year-on-year, primarily due to exchange losses from the depreciation of the RMB against the Euro and impacts from the international political and economic environment[43]. - Operating costs rose to 42,913.30 million yuan, reflecting a 23.26% increase compared to the previous year[50]. - The gross margin for engine exhaust purification products was 15.91%, a decrease of 4.48% compared to the previous year[52]. Cash Flow and Liquidity - The net cash flow from operating activities was -64,861.65 million yuan, a decline of 221.37% year-on-year, mainly due to a reliance on acceptance bills for collections[50]. - The company reported a net increase in cash and cash equivalents of 11,812.78 million yuan, a 132.23% improvement year-on-year[50]. - The company reported a total cash and cash equivalents balance of 79,897,016.10 CNY at the end of the first half of 2023, down from 149,185,786.31 CNY at the end of the first half of 2022[167]. - The company received 269,600,000.00 CNY in borrowings during the first half of 2023, an increase from 220,000,000.00 CNY in the same period of 2022[167]. - The cash flow from investment activities showed a net outflow of -19,923,252.21 CNY, improving from -111,185,916.06 CNY in the same period of 2022[167]. Research and Development - The company is focused on developing new technologies for exhaust gas treatment systems[18]. - The company has developed core technologies in exhaust after-treatment, including catalyst formulation and coating technology, which support its product offerings[36]. - Research and development expenses amounted to 26,996.48 million yuan, down 6.30% from the previous year[50]. - The company plans to build a new research institute in Hefei using its own funds to attract talent and enhance its technological capabilities[71]. - Research and development expenses decreased to CNY 18,090,021.25 in the first half of 2023 from CNY 27,460,806.87 in the same period of 2022, showing a reduction of 34.2%[161]. Market Position and Strategy - The market share of the company's main products in the light-duty diesel truck segment reached 17.12%, an increase of 0.12% compared to the end of last year[42]. - The company has established partnerships with major clients such as Weichai Heavy Machinery and Yuchai Power, achieving bulk supply in the marine and non-road sectors[36]. - The company is positioned to benefit from the anticipated replacement demand of over 1 million vehicles annually from 2025 to 2029 due to the implementation of stricter emission standards[35]. - The company aims to expand its market share by enhancing product competitiveness and exploring new customer bases in the non-road mobile machinery and marine exhaust treatment markets[82]. Corporate Governance and Compliance - The company reported a plan not to distribute cash dividends, issue bonus shares, or increase capital from reserves[5]. - The company’s financial report has been confirmed as true, accurate, and complete by its board of directors and management[4]. - The company has not reported any changes in its information disclosure practices during the reporting period[24]. - The company has not reported any significant environmental penalties during the reporting period and adheres to national environmental regulations[100]. - The company has not engaged in any derivative investments or entrusted loans during the reporting period[76][78]. Subsidiaries and Investments - The company has a total of six wholly-owned subsidiaries and several controlled subsidiaries[15]. - The company reported a net loss of 2.53 million CNY from its subsidiary Aikelan Research Institute[80]. - The company achieved a total revenue of 12.75 million CNY from its subsidiary Zhonghailanhang, with a net profit of 1.49 million CNY[80]. - The total amount of raised funds is CNY 36,517.92 million, with CNY 273.32 million invested during the reporting period[67]. - Cumulative investment of raised funds reached CNY 32,097.08 million by June 30, 2023[67]. Financial Position and Capital Structure - The total liabilities at the end of the reporting period are 327,908,817.32 yuan[176]. - The total equity attributable to shareholders reached CNY 817,322,881.54, up from CNY 796,448,161.44, marking a growth of 2.2%[152]. - The company has maintained a stable capital structure with a total capital of 371,220,500.00 yuan[176]. - The company has not reported any significant changes in accounting policies or prior period error corrections[174]. - The company has maintained a consistent capital structure with no new shares issued during the reporting period[185].