Jia Yuan Technology(688388)2024-08-28 10:11Financial Performance - In the first half of 2024, the company achieved operating revenue of 242,304.85 million CNY, a year-on-year increase of 16.62% [3] - The net profit attributable to shareholders was -10,519.82 million CNY, a year-on-year decrease of 595.15% [3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -12,281.72 million CNY, a year-on-year decrease of 2,259.04% [3] - The net cash flow from operating activities was -86,269.65 million CNY, a year-on-year decline of 297.26% [3] - As of the end of the reporting period, total assets were approximately 1,258,753.80 million CNY, a decrease of 1.67% from the beginning of the period [4] Production and Sales - The company produced approximately 24,000 tons of copper foil in the first half of 2024, a year-on-year increase of 0.12% [4] - Copper foil sales reached 25,000 tons, a year-on-year increase of 0.68% [4] - Lithium battery copper foil revenue was 185,213.81 million CNY, while standard copper foil revenue was 19,170.36 million CNY [5] Accounts Receivable - Accounts receivable increased by 107.13% compared to the end of the previous year, influenced by extended customer settlement periods [5] - The company increased bad debt provisions by 3,123.08 million CNY due to the rise in accounts receivable [5] Market Strategy and R&D - The company emphasizes high-quality development and aims to diversify and upgrade its product offerings [4] - R&D investment in the first half of 2024 totaled 13,505.87 million CNY, a year-on-year increase of 12.15% [8] - The company is actively developing composite copper foil and has established a trial production line for this purpose [9] Debt and Financing - As of June 30, 2024, the company had total assets of 1,258,753.80 million CNY and total liabilities of 540,860.12 million CNY, resulting in a debt-to-asset ratio of 42.97% [14] - The company has converted 261,606,000 CNY of convertible bonds into shares, representing 1.4390% of the total shares issued prior to conversion [12]