GDTC(688186)2024-09-30 09:11Financial Performance - Net profit attributable to shareholders for the first half of 2024 was RMB 42.78 million, a decrease of 50.06% year-on-year [3] - Operating revenue for the first half of 2024 was RMB 1.88 billion, a decrease of 8.37% year-on-year [3] - Net cash flow from operating activities for the first half of 2024 was negative RMB 418 million [4] - Net cash flow from investing activities for the first half of 2024 was negative RMB 234 million [4] Profit Distribution - Proposed cash dividend of RMB 0.5 per 10 shares, totaling RMB 10.71 million [1] - Retained earnings as of June 30, 2024, were RMB 550.17 million [1] Subsidiary Performance - Subsidiary Deyang Guangda Dongqi New Materials Co Ltd achieved revenue of RMB 617 million and net profit of RMB 25.39 million in the first half of 2024 [2] Industry and Product Strategy - Main products include high-end special steel materials and wind power components, applied in sectors like new energy, rail transit, and aerospace [2] - Strategic focus on high-value-added products and optimization of product structure to improve profitability [2] - Wind power casting prices fell short of expectations, leading to adjustments in product mix [3] Capacity Expansion - Special alloy material expansion project is under construction, with partial equipment already in use, expected to be operational by December 2024 [3] Convertible Bonds - RMB 1.55 billion convertible bonds have not been converted, with a premium rate of 127% [3] - The company decided not to lower the conversion price of the bonds in September 2024 [4] Market and Investor Relations - Stock price fell by 47% and convertible bond price dropped by 34% in 2024 [3] - The company is actively managing operations to improve cash flow and market confidence [4]