PERI(SZ:300831)2023-08-29 16:00Financial Performance - The company's operating revenue for the first half of 2023 was ¥53,417,223.49, a decrease of 36.72% compared to ¥84,412,077.37 in the same period last year[22]. - The net profit attributable to shareholders for the first half of 2023 was ¥7,446,357.22, down 76.40% from ¥31,551,391.17 in the previous year[22]. - Basic earnings per share for the first half of 2023 were ¥0.0233, a decline of 76.37% from ¥0.0986 in the previous year[22]. - The company's gross profit margin for power electronic devices was 13.60%, with a decrease of 10.04% compared to the previous year[43]. - The company reported a profit margin of 14.0% in the first half of 2023, down from 37.4% in the same period of 2022[138]. - The company reported a total revenue of 26,931 million CNY for the first half of 2023, with a year-on-year growth of 12.81%[59]. - The company reported a total of 20,000 in entrusted financial management funds, with no overdue amounts or impairments recorded[63]. - The total comprehensive income for the first half of 2023 was CNY 357.81 million, showing a significant increase compared to the previous period[150]. Cash Flow and Financial Position - The net cash flow from operating activities decreased by 85.82%, amounting to ¥12,077,462.67 compared to ¥85,166,611.36 in the same period last year[22]. - The company's cash and cash equivalents decreased by 73.09% to ¥15,100,541.00 from ¥56,124,922.48 in the previous year, mainly due to the timing of sales payments and tax deferral benefits[40]. - The company's cash and cash equivalents rose to ¥354,000,718.57 from ¥338,900,177.57, an increase of about 4.1%[130]. - The company recorded a net increase in cash and cash equivalents of ¥15,100,541.00 for the first half of 2023, compared to ¥56,124,922.48 in the same period of 2022, a decrease of 73.1%[145]. - The cash flow from financing activities showed a net outflow of ¥28,790.91, an improvement from a net outflow of ¥112,198.10 in the first half of 2022[145]. - The total cash inflow from investment activities was ¥403,557,602.06, up from ¥372,856,174.99 in the first half of 2022, representing an increase of 8.3%[145]. Assets and Liabilities - Total assets at the end of the reporting period were ¥914,878,779.40, representing a decrease of 3.43% from ¥947,403,555.50 at the end of the previous year[22]. - The company's inventory increased to ¥117,562,808.00, representing 12.85% of total assets, up from 10.74% in the previous year[47]. - Total liabilities decreased to ¥64,473,130.57 from ¥94,722,562.72, a reduction of about 31.93%[132]. - Current liabilities totaled ¥61,860,003.61, down from ¥87,242,811.94, indicating a decrease of approximately 29.06%[132]. - The company's retained earnings slightly decreased from ¥302,757,888.43 to ¥300,284,245.65, a decline of about 0.49%[132]. Research and Development - Approximately 38.1% of the company's workforce is dedicated to research and development, with a team of about 156 personnel[33]. - The company's R&D investment increased by 52.00% to ¥5,402,071.03 from ¥3,553,925.62 in the previous year, indicating a continuous increase in R&D efforts[40]. - The company submitted 7 patent applications during the reporting period, including 3 invention patents, and obtained 5 authorized patents[36][37]. - The company has developed new power devices, including integrated gate commutated thyristors (IGCT) and high-voltage fast recovery diodes (FRD), successfully applied in several ultra-high voltage direct current transmission projects[33]. Market Position and Strategy - The main business focus remains on the research, production, and sales of power semiconductor devices, which are critical for energy distribution and control[30]. - The company has established a leading position in the high-voltage, high-power, and large-diameter thyristor market, holding a significant domestic market share[31]. - The company plans to focus on expanding its market presence and enhancing its product development capabilities in the upcoming quarters[139]. - The company aims to explore potential mergers and acquisitions to strengthen its market position[151]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares[4]. - The annual shareholders' meeting had a participation rate of 42.60% on June 16, 2023[72]. - The company did not distribute cash dividends or issue new shares from capital reserves during the reporting period[74]. - The company has completed its shareholding commitment, ensuring no transfer or management delegation of shares for 36 months post-IPO[83]. - The controlling shareholder has committed to increase their shareholding by at least 1% of the total share capital within 12 months, not exceeding 2%[83]. Compliance and Risk Management - The company emphasizes the importance of risk awareness for investors regarding forward-looking statements and future plans[3]. - The company has maintained compliance with environmental regulations and has not faced any administrative penalties[78]. - The company faces risks related to uneven investment in national direct current transmission projects, which may lead to revenue fluctuations[68]. - The company has implemented measures to optimize production and supply chain management to mitigate risks associated with revenue volatility[68]. Accounting and Financial Reporting - The financial report for the first half of 2023 has not been audited[128]. - The financial statements comply with the requirements of the accounting standards and accurately reflect the financial position and operating results as of June 30, 2023[167]. - The company uses the Chinese Yuan (RMB) as its functional currency for accounting purposes[170]. - The company recognizes impairment losses when the expected credit loss exceeds the current carrying amount of the impairment provision[192].