QiaoYin(SZ:002973)2023-09-19 11:14Financial Performance - In the first half of 2023, the company achieved operating revenue of 1.999 billion CNY, a year-on-year increase of 4.43% [2] - The net profit attributable to shareholders reached 200 million CNY, up 27.87% year-on-year, with a net profit margin of 9.99%, an increase of approximately 1 percentage point [2] - The comprehensive gross profit margin improved to 26.16%, an increase of 1.83 percentage points [2] - As of the end of the reporting period, total assets amounted to 20.73 billion CNY, and net assets attributable to shareholders were 15.19 billion CNY, reflecting growth of 8.29% and 8.75% respectively compared to the previous year [2] Cost Control and Efficiency - The company has effectively controlled costs, with an expense ratio of 6.95%, down 2.56 percentage points from 2022 [2] - The management fee ratio was 6.95%, a decrease of 2.56 percentage points compared to 2022 [3] - The company has implemented measures such as optimizing organizational structure and strict budget control to enhance operational efficiency [2] Order and Market Position - In the first half of 2023, the company secured new orders totaling 2.063 billion CNY, with a backlog of 46.144 billion CNY [4] - As of September 18, 2023, the new order total reached 4.334 billion CNY, with an annualized amount of 666 million CNY [4] - The company has maintained a leading position in the industry for new contract totals over the past three years [4] Research and Development - In 2022, the company invested 28.42 million CNY in R&D, approximately 2.5 times that of 2021 [5] - R&D focuses on smart sanitation systems, solid waste treatment, and other innovative projects [5] - The company is exploring the introduction of unmanned equipment to enhance operational efficiency [5] Future Outlook - The company anticipates improvements in cash collection due to a recovering economy and enhanced local government financial strength [6] - Recent policies aimed at resolving local government debt risks are expected to facilitate better cash flow management [6] - The company plans to continue strengthening its core business to enhance shareholder value [6]