Revenue Performance - In the first half of 2023, the company's revenue from the high voltage direct current transmission sector decreased by approximately 27% compared to the same period in 2022[1]. - Revenue increased by approximately 9.4% to about RMB 459.5 million[53]. - Revenue from the power distribution sector was RMB 175,099 thousand for the six months ended June 30, 2023, with a gross margin of 39.8%, compared to RMB 166,499 thousand and a gross margin of 35.7% in the same period of 2022, showing a revenue increase of 5.4%[90]. - The group's revenue in the electrification transportation sector increased by approximately 6% compared to the same period in 2022[94]. - Revenue from the rail transportation segment reached RMB 31,293,000, reflecting a 45% increase from RMB 21,552,000 in the previous year[95]. - The electric vehicle segment saw a significant decline, with revenue dropping by 59% to RMB 5,700,000 from RMB 13,885,000[95]. - The group's revenue from self-developed IGBT in the energy storage sector grew by about 15% year-on-year[98]. - Total customer contract revenue from the sale of electronic power components was RMB 459,480,000, up from RMB 420,042,000 in the same period last year[101]. - Revenue from the foreign market increased by 59% to RMB 19,942,000, compared to RMB 12,518,000 in the prior year[126]. Profitability and Loss - The gross profit margin slightly decreased from approximately 27.5% in the first half of 2022 to about 27.0% in the first half of 2023[13]. - Gross profit rose by approximately 7.3% to about RMB 124.2 million[53]. - Loss attributable to equity holders of the parent company was approximately RMB 6.1 million, with a total comprehensive loss of about RMB 5.7 million[53]. - The company reported a pre-tax loss of RMB 6,088 thousand for the six months ended June 30, 2023, compared to a loss of RMB 7,149 thousand in the same period of 2022, indicating an improvement in performance[83]. - The group reported a basic loss per share based on a loss attributable to equity holders of RMB 6,088,000 for the period[108]. - The net loss margin improved from approximately -1.7% to -1.3% for the six months ended June 30, 2023[170]. Costs and Expenses - The company's sales cost increased by approximately 10.2% from about RMB 304.3 million in the first half of 2022 to about RMB 335.3 million in the first half of 2023, primarily due to increased revenue[12]. - Research and development costs rose by approximately 30.5% from about RMB 39.7 million in the first half of 2022 to about RMB 51.8 million in the first half of 2023, mainly due to increased R&D costs for self-produced IGBT and DC support capacitors[16]. - The total tax expense for the six months ended June 30, 2023, was RMB 8,412 thousand, compared to RMB 6,765 thousand in the same period of 2022, representing an increase of 24.3%[82]. - The group's administrative expenses rose by approximately 12.4% from about RMB 60.4 million to about RMB 67.9 million, mainly due to asset depreciation and an increase in personnel for self-produced IGBT[165]. Assets and Liabilities - Non-current assets totaled RMB 800.8 million, an increase from RMB 753.5 million[58]. - Current assets amounted to RMB 1,755.0 million, compared to RMB 1,743.1 million in the previous year[58]. - Total liabilities increased to RMB 230.2 million from RMB 173.8 million[59]. - The company reported a net asset value of RMB 1,901.997 million, slightly down from RMB 1,913.948 million[59]. - The company's capital debt ratio increased from about 7.6% as of December 31, 2022, to approximately 12.4% as of June 30, 2023[25]. - The current ratio decreased from approximately 4.3 as of December 31, 2022, to about 4.1 as of June 30, 2023, mainly due to increased bank borrowings[35]. Inventory and Receivables - The average inventory turnover days decreased from approximately 112 days as of December 31, 2022, to about 108 days as of June 30, 2023, mainly due to increased stock[22]. - The average turnover days for trade receivables increased from about 258 days as of December 31, 2022, to approximately 282 days as of June 30, 2023, primarily due to increased revenue[23]. - The total trade receivables as of June 30, 2023, were RMB 689,503 thousand, up from RMB 654,024 thousand as of December 31, 2022, reflecting an increase of approximately 5.4%[85]. - Trade receivables increased by approximately 7.5% from about RMB 798.2 million to about RMB 858.3 million, mainly due to revenue growth[141]. - The group's inventory increased by approximately 22.0% from about RMB 163.1 million to about RMB 199.0 million, primarily due to increased stocking[140]. Government Support and Future Outlook - The company has received various government subsidies related to its investments and technological advancements, which are recorded as deferred income in the financial statements[78]. - Government subsidies increased to RMB 12,109,000 from RMB 9,225,000, marking a growth of 31%[103]. - The company anticipates favorable market conditions in the second half of 2023, particularly in areas such as DC transmission, electric vehicles, and renewable energy generation, as new projects are expected to emerge[189]. Shareholder Actions - The company repurchased a total of 590,000 shares on the Hong Kong Stock Exchange, with a total purchase price (including related expenses) of approximately HKD 1,001,800[190]. - The company does not recommend the payment of any interim dividend for the six months ended June 30, 2023, due to a confirmed loss during this period[182]. - The group did not declare any dividends for the first half of 2023, consistent with the previous year[107].
赛晶科技(00580) - 2023 - 中期业绩