JEE(SH:688162)2024-08-30 10:58Financial Performance - Revenue for the first half of 2024 was RMB 1,506,969,745.49, a 1.73% increase compared to the same period last year[12] - Net profit attributable to shareholders of the listed company was RMB 23,478,922.30, a 14.53% increase year-on-year[12] - Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was RMB 4,626,502.31, a 45.74% decrease compared to the same period last year[12] - Operating cash flow for the period was RMB 118,340,159.72, a significant improvement from the negative RMB 559,069,656.33 in the same period last year[12] - Basic earnings per share (EPS) was RMB 0.17, a 13.33% increase year-on-year[13] - Basic EPS after deducting non-recurring gains and losses was RMB 0.03, a 50% decrease compared to the same period last year[13] - Total assets as of the end of the reporting period were RMB 7,185,328,343.46, a 0.34% increase compared to the end of the previous year[12] - Revenue for the reporting period reached 1,506.97 million yuan, a year-on-year increase of 1.73%[56] - Net profit attributable to shareholders of the listed company was 234.79 million yuan, a year-on-year increase of 14.53%[56] - Smart equipment business revenue was 1.161 billion yuan, a year-on-year decrease of 4.88%[57] - New energy vehicle motor and electronic control parts business delivered 85,800 units, a year-on-year increase of 74.75%, with revenue of 346 million yuan, a year-on-year increase of 32.76%[58] - Total assets at the end of the reporting period were 7,185.33 million yuan, an increase of 0.34% compared to the beginning of the period[56] - Equity attributable to shareholders of the listed company was 2,360.60 million yuan, an increase of 1.49% compared to the beginning of the period[56] - Net cash flow from operating activities was 118.34 million yuan, mainly due to increased customer repayments[56] - Revenue for the reporting period reached 1,506,969,745.49 yuan, a year-on-year increase of 1.73%[74] - Net profit attributable to shareholders of the listed company was 234,789,000 yuan, a year-on-year increase of 14.53%[72] - R&D expenses decreased by 15.82% to 110,649,261.17 yuan compared to the same period last year[74] - Operating cash flow improved significantly, with a net cash flow from operating activities of 118,340,159.72 yuan, compared to -559,069,656.33 yuan in the same period last year[74] - Total revenue for the first half of 2024 reached 1,506,969,745.49 RMB, compared to 1,481,319,374.48 RMB in the same period of 2023[146] - Total liabilities decreased slightly to 4,821,363,180.58 RMB from 4,831,705,419.59 RMB year-over-year[142] - Total assets increased to 6,369,570,090.59 RMB from 6,271,281,746.19 RMB compared to the end of 2023[144] - Net profit attributable to parent company owners increased to 147,933,095.58 RMB from 124,454,173.28 RMB[142] - Inventory decreased to 2,404,148,417.74 RMB from 2,562,041,442.14 RMB[143] - Accounts receivable increased to 746,900,770.26 RMB from 678,374,376.66 RMB[143] - Long-term loans increased significantly to 248,055,100.00 RMB from 20,000,000.00 RMB[144] - Contract liabilities remained stable at 1,898,081,654.42 RMB compared to 1,843,201,079.85 RMB[144] - Cash and cash equivalents decreased to 474,205,820.42 RMB from 706,443,459.20 RMB[143] - Total equity increased to 2,561,476,866.03 RMB from 2,445,724,187.15 RMB[145] - Management expenses increased to 79.85 million yuan, up 9.7% from 72.78 million yuan in the previous period[147] - R&D expenses decreased to 110.65 million yuan, down 15.8% from 131.45 million yuan in the previous period[147] - Net profit attributable to parent company shareholders increased to 23.48 million yuan, up 14.5% from 20.50 million yuan in the previous period[147] - Comprehensive income totaled 24.88 million yuan, up 10.5% from 22.51 million yuan in the previous period[148] - Basic earnings per share increased to 0.17 yuan, up 13.3% from 0.15 yuan in the previous period[148] - Parent company revenue increased to 1.27 billion yuan, up 8.8% from 1.17 billion yuan in the previous period[149] - Parent company net profit increased to 105.37 million yuan, up 49.3% from 70.56 million yuan in the previous period[150] - Parent company operating profit increased to 109.62 million yuan, up 59.3% from 68.83 million yuan in the previous period[150] - Operating cash flow for the first half of 2024 was RMB 118,340,159.72, a significant improvement from the negative RMB 559,069,656.33 in the same period of 2023[153] - Sales revenue from goods and services in the first half of 2024 reached RMB 1,846,638,493.47, up from RMB 1,381,227,743.91 in the same period of 2023[151] - Total comprehensive income for the first half of 2024 was RMB 106,130,405.85, compared to RMB 70,561,350.01 in the same period of 2023[151] - Cash received from tax refunds in the first half of 2024 was RMB 17,625,118.88, down from RMB 38,527,708.05 in the same period of 2023[151] - Cash paid for goods and services in the first half of 2024 was RMB 1,334,279,748.24, a decrease from RMB 1,458,633,111.68 in the same period of 2023[151] - Cash received from investments in the first half of 2024 was RMB 342,000,000.00, up from RMB 290,000,000.00 in the same period of 2023[153] - Cash paid for investments in the first half of 2024 was RMB 717,000,000.00, compared to RMB 467,392,140.00 in the same period of 2023[153] - Cash received from financing activities in the first half of 2024 was RMB 244,721,222.91, up from RMB 195,338,671.97 in the same period of 2023[153] - Net cash flow from financing activities in the first half of 2024 was RMB 21,947,460.16, down from RMB 147,109,827.43 in the same period of 2023[153] - The net increase in cash and cash equivalents for the first half of 2024 was negative RMB 236,702,472.93, compared to negative RMB 779,523,284.07 in the same period of 2023[154] - Investment activities resulted in a net cash outflow of -294,312,919.14 yuan, compared to -173,956,988.22 yuan in the previous period[156] - Financing activities generated a net cash inflow of 108,166,669.86 yuan, down from 143,675,878.75 yuan in the prior period[156] - The company's cash and cash equivalents decreased by 243,284,515.24 yuan, ending with a balance of 363,280,286.22 yuan[156] - Total owner's equity increased by 34,500,020.72 yuan, reaching 2,363,965,162.88 yuan at the end of the period[159] - Comprehensive income for the period contributed 24,877,747.69 yuan to owner's equity[158] - Capital reserves decreased by 1,051,501.97 yuan, while treasury stock reduced by 10,673,775.00 yuan[158] - The company allocated 23,478,922.30 yuan to undistributed profits during the period[158] - Owner's equity attributable to the parent company increased by 34,544,182.47 yuan[158] - Minority interests decreased by 44,161.75 yuan, ending at 3,362,619.83 yuan[159] - The company's initial cash and cash equivalents balance was 606,564,801.46 yuan at the start of the period[156] - The company's total owner's equity at the end of the period was 2,549,244,727.35 yuan, reflecting a decrease of 12,906,867.82 yuan compared to the beginning of the period[161] - The capital reserve increased by 10,966,906.04 yuan during the period, primarily due to equity incentives[160] - The company's undistributed profit decreased by 24,305,258.29 yuan, mainly due to profit distribution[160] - The comprehensive income for the period was 2,014,689.57 yuan, contributing to the owner's equity[160] - The company's total owner's equity in the parent company increased by 115,752,678.88 yuan, driven by a 105,366,665.01 yuan increase in undistributed profit[162] - The parent company's capital reserve decreased by 1,051,501.97 yuan, mainly due to equity incentives and other adjustments[164] - The parent company's other comprehensive income increased by 763,740.84 yuan during the period[162] - The company's total owner's equity in the parent company at the end of the period was 2,561,476,866.03 yuan[164] - The company's total owner's equity at the beginning of the period was RMB 2,537,410,731.04, and at the end of the period, it increased to RMB 2,572,551,025.91[165][166] - Comprehensive income for the period amounted to RMB 70,561,350.01[165] - The company's registered capital increased by RMB 40,000.00 due to owner contributions[165] - Capital reserve increased by RMB 10,966,906.04 during the period[165] - The company repurchased and canceled 84,150 restricted shares, reducing the registered capital by RMB 84,150.00[167] - The company's total assets at the end of the period were RMB 2,087,967,500.64[166] - The company's undistributed profits increased by RMB 25,756,593.97 during the period[165] - The company's capital reserve at the beginning of the period was RMB 2,077,000,594.60[165] - The company's total owner's equity increased by RMB 35,140,294.87 during the period[165] - The company's registered capital at the end of the period was RMB 137,387,500.00[166] R&D and Innovation - R&D investment accounted for 7.34% of revenue, a decrease of 1.53 percentage points compared to the same period last year[13] - The company has three R&D models: core technology independent R&D, customer-oriented R&D, and industry-academia collaboration[28] - The company has developed 26 core technologies in intelligent equipment and 15 core technologies in new energy vehicle motor and electronic control components, primarily through independent R&D[32] - Key intelligent equipment technologies include digital process planning, virtual reality production line technology, and virtual debugging technology, all developed in-house[32] - Developed a 5G-enabled digital twin system for real-time virtual-physical linkage in factory operations, integrating 3D simulation modeling for rapid scenario setup and real-time production optimization[33] - Introduced high-precision servo pressing technology with improved accuracy, speed, and reliability, achieving higher qualification rates and error-proofing capabilities[33] - Launched intelligent tightening technology with multi-axis synchronization, real-time torque monitoring, and database management for quality control[33] - Developed in-line measurement technology for automotive powertrains, achieving measurement precision comparable to imported equipment[33] - Implemented EOL testing technology for powertrains, leveraging database analysis and big data to reduce defect rates and optimize production processes[33] - Advanced flat copper wire automatic forming technology, achieving domestic-leading precision and efficiency for high-power density motor production[33] - Enhanced machine vision inspection systems with 3D and 2D capabilities for defect detection and dimensional measurement in smart manufacturing[33] - Developed automatic stacking technology for hydrogen fuel cells, ensuring high precision in membrane electrode and bipolar plate placement[34] - Introduced high-precision arc welding technology for large-scale energy storage equipment, meeting stringent sealing and precision requirements[34] - Optimized robot flexible hemming technology, reducing robot usage by 80% and floor space by 50% for door cover production[34] - Lightweight body connection and quality control technology: Developed a systematic connection testing process and database, enabling rapid selection of connection equipment configurations. Implemented pressure servo control and real-time quality monitoring technology to establish an online connection quality detection system[35] - Aluminum alloy closure forming technology: Established a CAE analysis platform for aluminum alloy body closure manufacturing, developed a complete solution for aluminum alloy closure forming, including rolling forming process and flexible forming core equipment[35] - Stainless steel body laser welding technology: Developed a laser welding solution for stainless steel body parts, achieving oxidation-free and deformation-free welding in narrow spaces (110mm) and long welds (2m)[35] - High-speed body production line technology: Achieved a production line cycle time of 10 seconds per station, significantly improving production efficiency and reducing equipment investment and floor space[35] - Intelligent manufacturing execution system: Developed a comprehensive system for lifecycle process control, including planning, production, quality, materials, equipment, warehousing, and shipping[35] - Industrial internet technology: Provided a full-stack enterprise integration platform, simplifying device access and control costs, and enabling comprehensive automation development[36] - High-reliability and high-performance electric drive control technology: Utilized adaptive modulation algorithms and optimized current loop control to achieve precise control and protection of electric drive systems[37] - IGBT junction temperature estimation technology: Developed a thermal resistance-capacitance network model for IGBT modules, enabling accurate temperature estimation and ensuring high reliability and safety[37] - Rotor temperature estimation technology: Implemented real-time rotor temperature estimation based on the motor's thermal network model[37] - High power density electromagnetic design technology: Optimized the magnetic circuit of the stator and rotor to achieve high power density and output characteristics[37] - The company has accumulated 987 authorized patents and 187 software copyright registrations as of June 30, 2024, with 106 new patents and 2 new software copyrights added in the reporting period[41] - The company's R&D investment in the reporting period was RMB 110,649,261.17, a decrease of 15.82% compared to the same period last year[42] - The proportion of R&D investment to operating income decreased by 1.53 percentage points to 7.34% in the reporting period[42] - The company has developed a highly integrated electric drive system technology, significantly reducing cost, volume, and weight while improving power density and NVH performance[8] - The company has achieved breakthroughs in SiC controller development, improving system efficiency, power density, and EMC/EMI levels[12] - The company has obtained ASIL D level process certification and ASIL C level product certification for its functional safety product development technology based on ISO26262[13] - The company has developed a multi-in-one electric drive system technology, achieving high integration, high efficiency, and low cost at the system level[14] - The company has optimized electromagnetic noise through electromagnetic force spatiotemporal order characteristics and structural design, improving NVH performance[6] - The company has developed a high-speed, low-noise reducer design technology, further enhancing NVH performance[7] - The company has established a functional safety process system for electric drive systems based on ISO26262 and GB/T 34590 standards[13] - The company has invested a total of 47,700 million yuan in 13 R&D projects, with a cumulative investment of 30,883.95 million yuan and a current period investment of 8,014.45 million yuan[46] - The number of R&D personnel is 746, accounting for 26.44% of the total workforce, with an average salary of 11.68 thousand yuan[47] - The R&D personnel consist of 15.68% with a master's degree or above, 72.12% with a bachelor's degree, and 12.20% with education below a bachelor's degree[48] - The age distribution of R&D personnel shows 54.42% under 30 years old, 41.29% between 30-40 years old, 3.62% between 40-50 years old, 0.54% between 50-60 years old, and 0.13% over 60 years old[48] - The company has completed the development of a multi-in-one electric drive product platform, with a total investment of 7,600 million yuan and a cumulative investment of 6,969.75 million yuan[44] - The development of motor control technology based on third-generation wide-bandgap semiconductor materials has been completed, with a total investment of 2,500 million yuan and a cumulative investment of 2,530.16 million yuan[44] - The company has developed a machine vision intelligent detection and recognition guidance system, with a total investment of 3,000 million yuan and a cumulative investment of 2,498.83 million yuan[44] - The development of a high-precision, high-speed positioning system for battery cell manufacturing has been completed, with a total investment of 1,300 million yuan and a cumulative investment of 1,178.07 million yuan[44] - The company has established a professional NVH testing laboratory, with a total investment of 8,200 million yuan and a cumulative investment of 7,161.11