Genbyte(003028)2024-08-26 13:58Financial Performance - In the first half of 2024, the company achieved operating revenue of 659 million CNY, a year-on-year increase of 26.90% [1] - The second quarter revenue reached 401 million CNY, marking a quarter-on-quarter growth of 55.20% and setting a record for single-quarter revenue [1] - Net profit attributable to shareholders was 90.42 million CNY, a decrease of 2.22% year-on-year, primarily due to product structure adjustments, exchange rate losses, and intensified industry competition [1] Business Segment Performance - Revenue from new energy products grew by 92.30% year-on-year, with a gross margin increase of 5.57% [2] - Smart appliance control products saw a revenue increase of 32.97%, while innovative small home appliances grew by 22.80% and large home appliances by 38.51% [2] - Electric tools revenue increased by 56.87%, whereas automotive electronics revenue decreased by 10.76% due to various factors [2] Capacity and Production - The company has expanded production facilities in Shenzhen and Vietnam, with revenue from the Vietnam facility increasing by 185.46% year-on-year, accounting for 20.26% of total revenue [2] - The company is enhancing automation and digitalization to improve manufacturing capabilities and production capacity [2] Dividend Policy - The company plans to distribute a cash dividend of 4.5 CNY per 10 shares (tax included) for the 2024 mid-year, representing a historical high in cash dividend ratio [2] Inventory and Accounts Receivable - The increase in accounts receivable is attributed to a focus on major clients and rapid sales expansion, leading to a significant rise in accounts receivable balance [3] - Inventory growth is driven by increased demand for raw materials and products, as well as preemptive stockpiling based on market conditions [3] Future Outlook - The company aims to enhance gross margins through new customer acquisition, product innovation, and cost control measures [3] - The new energy product segment is expected to continue growing, with plans to strengthen R&D and expand market share [4]