HAILIANG(002203)2024-09-10 01:25Group 1: Financial Performance - In the first half of 2024, the company achieved revenue of 24.834 billion CNY, with net profit contributions from copper products amounting to 764.35 million CNY, reflecting a year-on-year growth of 3.7% [1] - The sales volume of copper and copper alloy products reached 506,900 tons, representing a year-on-year increase of 14.04% [3] - The gross profit margin for domestic sales was 4.18%, while for overseas sales it was 6.56% [2] Group 2: Supply Chain and Risk Management - The company operates 23 production bases globally and has established long-term stable business relationships with nearly 10,000 customers across 132 countries or regions [2] - A robust risk management system has been developed to mitigate the impacts of raw material price fluctuations and exchange rate volatility, ensuring stable performance [2] - The company adheres to a "zero exposure policy" for foreign exchange risks, matching foreign currency assets and liabilities to prevent speculative positions [2] Group 3: Strategic Initiatives - The establishment of a factory in Morocco aims to enhance local market service and support, leveraging local workforce advantages to capture market share [3] - The company plans to expand its market presence in Europe, the Middle East, and Africa for non-ferrous copper and copper alloy materials, as well as lithium battery copper foil [3] Group 4: Cash Flow and Operational Insights - The increase in cash flow outflow is attributed to a 450.51% rise in copper foil sales volume compared to the previous year, leading to higher inventory and accounts receivable [3] - The company maintains a positive outlook on order fulfillment, particularly for copper foil products, indicating a healthy order situation [3] Group 5: Investor Relations - The company decided not to adjust the conversion price of its convertible bonds, reflecting confidence in its long-term stable development and intrinsic value [4] - Continuous efforts are being made to strengthen operational management and ensure timely repayment of convertible bonds [4]