CSI Intelligent Finance Liancheng Precision (002921) disclosed its 2022 semi-annual report on August 25. In the first half of 2022, the company achieved a total operating income of 645 million yuan, a year-on-year increase of 10.06%; net profit attributable to shareholders was 24

CSI Intelligent Finance Liancheng Precision (002921) disclosed its 2022 semi-annual report on August 25. In the first half of 2022, the company achieved total operating income of 645 million yuan, a year-on-year increase of 10.06%; net profit attributable to shareholders was 24.5953 million yuan, a year-on-year decrease of 48.92%; net profit excluding non-operating items was 21.9771 million yuan, a year-on-year decrease of 51.47%; net cash flow generated by operating activities was 9.3452 million yuan, a year-on-year decrease of 78.46%; during the reporting period, Liancheng Precision's basic earnings per share was 0.1976 yuan, and the weighted average return on assets was 2.10%.

According to the announcement, the company is mainly engaged in the research, development, design, production and sales of various precision mechanical parts. It mainly uses metals such as iron, aluminum, and steel as raw materials to manufacture metal components and metal parts through casting and processing. The products are widely used in commercial compressors, hydraulic machinery, commercial vehicles, construction machinery, agricultural machinery, passenger cars, diesel engines, photothermal power generation, environmentally friendly water treatment, high-speed rail and other industries. The main products are various precision mechanical parts, including hydraulic walking motor housing/rear end cover, reducer housing, hydraulic valve seat, crankcase, crankcase, crankcase cover, bearing seat, suspension bracket, shock absorber wheel/ring, shock absorber accessories housing, automobile water pump housing, etc.

According to the semi-annual report, the company achieved total operating income of 315 million yuan in the second quarter, a year-on-year increase of 1.20% and a month-on-month decrease of 4.67%; net profit attributable to shareholders was 14.9832 million yuan, a year-on-year decrease of 26.29% and a month-on-month increase of 55.88%; net profit excluding non-network was 12.6512 million yuan, a year-on-year decrease of 32.26% and a month-on-month increase of 35.66%.

In the first half of 2022, the company's gross profit margin was 17.12%, a year-on-year decrease of 7.82 percentage points; the net profit margin was 4.37%, a decrease of 3.73 percentage points from the same period last year. Judging from the single-quarter indicators, the company's gross profit margin in the second quarter of 2022 was 16.43%, a year-on-year decrease of 6.97 percentage points and a month-on-month decrease of 1.35 percentage points; the net profit margin was 5.49%, a decrease of 0.89 percentage points from the same period last year and an increase of 2.20 percentage points from the previous quarter.

In the second quarter of 2022, the company's return on equity was 1.16%, a year-on-year decrease of 1.16 percentage points and a month-on-month increase of 0.29 percentage points.

In the first half of 2022, the company's net cash flow in operating activities was 9.3452 million yuan, a year-on-year decrease of 78.46%, mainly due to the rise in prices of raw materials, fuel power and logistics costs for casting in this reporting period and the continued increase in labor costs; the net cash flow in financing activities was 380 million yuan, an increase of 359 million yuan year-on-year, mainly due to the receipt of funds raised by private placement of shares in this reporting period; the net cash flow in investment activities was -293 million yuan, a year-on-year decrease of -148 million yuan, mainly due to the purchase of large-scale certificates of deposit using temporarily idle private placement of shares raised funds in this reporting period.

In the first half of 2022, the company's operating income cash ratio was 105.14%, and the net cash ratio was 38.00%.

In terms of major changes in assets, as of the end of the second quarter of 2022, the company's cash and capital increased by 71.66% from the end of the previous year, accounting for 3.97 percentage points of the company's total assets, mainly due to the receipt of funds raised by private placement of stocks in this reporting period; the under-construction projects increased by 41.83% from the end of the previous year, accounting for 0.68 percentage points of the company's total assets, mainly due to the increase in equipment and factories under-construction at the end of the reporting period.

Judging from the inventory changes, as of the end of the first half of 2022, the company's inventory book balance was 392 million yuan, accounting for 30.87% of its net assets, an increase of 1.3018 million yuan from the end of the previous year. Among them, the inventory impairment provision was 4.0995 million yuan, and the provision ratio was 1.05%. In terms of debt repayment ability, the company's debt-to-asset ratio at the end of the second quarter of 2022 was 42.04%, a decrease of 7.28 percentage points from the end of the previous year; the interest-bearing debt-to-asset ratio was 28.01%, a decrease of 0.96 percentage points from the end of the previous year.

semi-annual report shows that among the top ten circulating shareholders of the company at the end of the first half of 2022, the new shareholder was Beijing Shengyuan Chengmei Consulting Co., Ltd., replacing the NoAn Youxuan Return Flexible Allocation Mixed Securities Investment Fund at the end of the first quarter. In terms of specific shareholding ratios, the holdings of Noan Pioneer Hybrid Securities Investment Fund have decreased.

In terms of chip concentration, as of the end of the second quarter of 2022, the total number of shareholders of the company was 10,900, an increase of 126 from the end of the first quarter, an increase of 1.17%; the average shareholding market value dropped from 190,900 yuan at the end of the first quarter to 174,500 yuan, a decrease of 8.59%.