QINCHUAN(000837)2023-08-29 16:00Research and Development - The company implemented 36 key R&D projects during the reporting period, including the YKS7226 high-precision worm grinding machine, achieving domestic leading and internationally advanced grinding precision [4]. - The company is actively developing new products, including the HMC series high-rigidity and high-precision four-axis/five-axis horizontal machining centers, which will reach domestic advanced levels [4]. - The company is focusing on enhancing its digital factory transformation and high-end industrial mother machine innovation base projects [7]. - The company has completed the performance laboratory and digital painting workshop for the high-end CNC machine tool industry capacity enhancement project [7]. Financial Performance - The net profit attributable to the parent company decreased by 22.59 million yuan due to the bankruptcy liquidation of a wholly-owned subsidiary [10]. - The company reported a total revenue of 3,063.23 million yuan from a subsidiary, with a court ruling mandating repayment plus interest [63]. - The company's net profit for the current period is 26,262,177.93, a significant decrease from 118,916,554.50 in the previous period, reflecting a decline of approximately 78% [156]. - Total profit for the current period is 25,548,291.22, down from 120,411,814.82, indicating a decrease of about 78.8% [156]. - The company's operating profit is reported at 25,424,085.45, compared to 120,159,134.16 in the previous period, representing a decline of approximately 78.8% [156]. - Basic earnings per share decreased to ¥0.0897 from ¥0.1733, a decline of approximately 48.3% [154]. - Total operating revenue for the first half of 2023 was CNY 1,975,226,112.50, a decrease of 7.7% compared to CNY 2,139,343,839.59 in the same period of 2022 [178]. - Net profit for the first half of 2023 was CNY 89,036,214.52, a decline of 47.3% from CNY 168,737,262.46 in the first half of 2022 [179]. Cash Management - The company has a cash management balance of 120 million yuan from raised funds, with an unused balance of 61,500,651.24 yuan [18]. - The company plans to use up to RMB 250 million of temporarily idle raised funds for cash management, ensuring it does not affect the normal investment plan [38]. - The company's cash and cash equivalents increased to 2,228,071,403.40 from 1,229,390,825.74, showing a growth of approximately 81.5% [170]. - The cash inflow from operating activities for the first half of 2023 was ¥1,409,324,766.82, an increase of 22.8% compared to ¥1,147,081,316.44 in the same period of 2022 [183]. Investment and Fundraising - The total investment during the reporting period was 286,345,400 yuan, a decrease of 13.96% compared to 332,801,867.47 yuan in the same period last year [15]. - The total amount of raised funds in 2021 was RMB 78,242.62 million, with RMB 6,036.45 million utilized during the reporting period [38]. - As of June 30, 2023, the unused raised funds amounted to RMB 18,150.06 million, which will be used for subsequent project funding [38]. - The company plans to raise up to RMB 1.23 billion through a non-public offering of A-shares, with a maximum of 269,811,273 shares to be issued, representing 30% of the pre-issue total share capital [103]. - The funds raised will be allocated to several projects, including the "Qin Chuang Yuan·Qinchuan Group High-end Industrial Mother Machine Innovation Base Project (Phase I)" and the "Research and Industrialization of Rolling Functional Components in the New Energy Vehicle Sector" [103]. Environmental Protection - The company has implemented a two-stage treatment process for dust and smoke emissions, achieving over 99% removal efficiency, in compliance with national environmental standards [35]. - The environmental protection measures include wastewater treatment that meets national standards, with a focus on reducing carbon emissions [65][69]. - The company has a valid pollution discharge permit from January 1, 2023, to December 31, 2027 [51]. - The company has established emergency response plans for environmental incidents, registered with local environmental authorities [90]. Shareholder Information - The largest shareholder, Shaanxi Fastech Automotive Transmission Group Co., Ltd., holds 34.19% of the shares, with a decrease of 8,990,000 shares during the reporting period [110]. - The second-largest shareholder, Shaanxi Provincial Industrial Investment Co., Ltd., holds 10.25% of the shares, with a decrease of 8,993,600 shares during the reporting period [110]. - The company has a total of 103,943 ordinary shareholders at the end of the reporting period [110]. - The company has not reported any strategic investors or general corporations becoming among the top 10 ordinary shareholders due to new share placements [111]. Compliance and Legal Matters - There are no unfulfilled court judgments or significant debts due for the controlling shareholder during the reporting period [37]. - The company has no major litigation or arbitration matters during the reporting period [61]. - The company has not reported any administrative penalties related to environmental issues [64]. - The company has not encountered any situations where entrusted financial management could not recover principal or faced potential impairment [120]. Operational Efficiency - Cost reduction and expense control efforts improved by 16.20% compared to the same period last year, with 7,050 CTJ innovation improvement projects completed [5]. - The company has established a centralized control platform to meet management requirements for its subsidiaries [6]. - The company is enhancing its information security and business continuity through the implementation of a cloud desktop project [6]. - The company has implemented a monitoring plan for wastewater and air emissions, with sampling conducted twice a year [68].