东风集团股份(00489) - 2023 - 中期业绩

Financial Performance - Dongfeng Motor Group reported revenue of RMB 45,677 million for the six months ended June 30, 2023, representing an increase from RMB 44,396 million in the same period of 2022, a growth of approximately 2.9%[3] - The gross profit for the first half of 2023 was RMB 4,986 million, down from RMB 5,212 million in the prior year, indicating a decrease of about 4.3%[3] - The net profit attributable to shareholders for the period was RMB 206 million, a significant decline from RMB 5,118 million in the previous year, reflecting a decrease of approximately 96%[3] - The total comprehensive income attributable to equity holders of the parent for the period was RMB 3,522 million, compared to RMB 2,498 million in the previous year, an increase of approximately 41.0%[4] - The company reported a basic and diluted earnings per share of RMB 14.79 for the first half of 2023, compared to RMB 63.84 in the same period of 2022, a decrease of approximately 76.8%[3] Assets and Liabilities - The company's total assets as of June 30, 2023, amounted to RMB 316,711 million, down from RMB 330,036 million at the end of 2022, a reduction of about 4.0%[5] - Non-current assets increased to RMB 148,708 million from RMB 147,032 million, showing a slight growth of approximately 1.1%[5] - As of June 30, 2023, the total equity attributable to equity holders of the parent company is RMB 156,604 million, a slight increase from RMB 155,852 million as of December 31, 2022[6] - The total liabilities decreased to RMB 151,475 million from RMB 164,500 million, indicating a reduction of approximately 7.9%[6] - The current liabilities totaled RMB 112,774 million, down from RMB 130,069 million, reflecting a decrease of about 13.3%[6] Cash Flow - Operating cash flow for the six months ended June 30, 2023, was RMB (7,954) million, compared to RMB (3,895) million for the same period in 2022, indicating a significant increase in cash outflow[9] - Cash used in operating activities amounted to RMB (6,442) million, an increase from RMB (2,132) million in the previous year[9] - The total cash and cash equivalents decreased by RMB 3,722 million, compared to an increase of RMB 13,170 million in the same period last year[9] - As of June 30, 2023, cash and cash equivalents stood at RMB 61,660 million, slightly down from RMB 62,041 million at the end of the previous period[9] Shareholder Activities - The company repurchased treasury shares worth RMB 207 million during the period[7] - The company did not declare any interim dividends for the six months ended June 30, 2023, consistent with the previous year[31] - The company repurchased 84,850,000 shares during the six months ended June 30, 2023[32] Sales and Market Performance - In the first half of 2023, the company sold approximately 945,500 vehicles, a year-on-year decrease of 23.4%[43] - The sales of self-owned passenger vehicles reached 156,800 units, down 30.9% year-on-year[43] - The commercial vehicle segment achieved sales of approximately 175,800 units, with a slight increase of 0.7% year-on-year[43] - The sales volume of new energy vehicles was approximately 119,600 units, increasing its share of total sales by 2.2 percentage points[43] - The overseas export sales reached 81,200 units, marking a year-on-year growth of 28.1%[43] Research and Development - The company incurred research and development expenses of RMB 2,001 million for the six months ended June 30, 2023, down from RMB 2,488 million in 2022, reflecting a focus on cost management[26] - The company reported a 49.2% year-on-year increase in R&D investment for new energy vehicles[43] Economic Environment - The overall economic environment in China showed signs of recovery, with GDP growth of 5.5% year-on-year in the first half of 2023[49] - The new energy vehicle market continued to grow rapidly, with a year-on-year increase of 44.1% in sales, reaching 3.747 million units[49] Corporate Governance - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange listing rules[79] - The external auditor, Ernst & Young, has reviewed the unaudited financial statements for the six months ended June 30, 2023[79] - The board of directors includes three executive directors and three independent non-executive directors[80]