CSI Intelligent Finance Xingrui Technology (002937) disclosed its 2022 semi-annual report on August 25. In the first half of 2022, the company achieved total operating income of 755 million yuan, a year-on-year increase of 29.42%; net profit attributable to shareholders was 77.2546 million yuan, a year-on-year increase of 22.82%; net profit excluding non-operating items was 80.2338 million yuan, a year-on-year increase of 39.20%; net cash flow generated by operating activities was 31.3657 million yuan, a year-on-year decrease of 37.49%; during the reporting period, Xingrui Technology's basic earnings per share was 0.26 yuan, and the weighted average return on assets was 7.12%.
semi-annual report stated that Xingrui Technology is a precision component manufacturing and R&D enterprise, with its products covering electronic connectors, structural parts, plastic shells, inlaid injection molding parts, etc. It is widely used in smart terminals, automotive electronics, new energy vehicle three-electric systems and consumer electronics. With innovative R&D and advanced manufacturing technology as the core, it focuses on the fields of new energy vehicle electromechanical systems and smart terminals, and provides customized system solutions for high-end customers in the industry.
According to the semi-annual report, the company achieved total operating income of 400 million yuan in the second quarter, a year-on-year increase of 47.57% and a month-on-month increase of 12.83%; net profit attributable to shareholders was 43.2409 million yuan, a year-on-year increase of 69.19% and a month-on-month increase of 27.13%; net profit excluding non-network was 47.6688 million yuan, a year-on-year increase of 138.02% and a month-on-month increase of 46.38%.
In the first half of 2022, the company's gross profit margin was 23.65%, a year-on-year decrease of 3.77 percentage points; the net profit margin was 10.15%, a decrease of 0.63 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 24.52%, a year-on-year decrease of 1.07 percentage points and a month-on-month increase of 1.85 percentage points; the net profit margin was 10.69%, a year-on-year increase of 1.27 percentage points and a month-on-month increase of 1.16 percentage points.
In the second quarter of 2022, the company's return on equity was 3.94%, an increase of 1.42 percentage points year-on-year and 0.78 percentage points month-on-month.
In the first half of 2022, the company's net cash flow for operating activities was 31.3657 million yuan, a year-on-year decrease of 37.49%; the net cash flow for financing activities was -53.5508 million yuan, a year-on-year decrease of 16.9136 million yuan; the net cash flow for investment activities was -56.8105 million yuan, a year-on-year decrease of -77.2417 million yuan in the same period last year.
In the first half of 2022, the company's operating income cash ratio was 101.41%, and the net cash ratio was 40.60%.
In terms of major changes in assets, as of the end of the second quarter of 2022, the company's cash and funds decreased by 20.20% from the end of the previous year, accounting for 6.92 percentage points of the company's total assets, mainly due to the increase in investment and dividend expenditure; construction projects under construction increased by 68.77% from the end of the previous year, accounting for 2.38 percentage points of the company's total assets, mainly due to the increase in infrastructure investment in this period; accounts receivable increased by 9.97% from the end of the previous year, accounting for 1.24 percentage points of the company's total assets, mainly due to the increase in sales revenue, corresponding to the increase in accounts receivable; inventory increased by 23.03% from the end of the previous year, accounting for 1.76 percentage points of the company's total assets, mainly due to the increase in raw materials and inventory commodities.
In terms of major changes in liabilities, as of the end of the second quarter of 2022, the company's contract liabilities increased by 179.32% from the end of the previous year, accounting for 0.03 percentage points of the company's total assets, mainly due to the increase in customer prepayments.
Judging from the inventory changes, as of the end of the first half of 2022, the company's inventory book balance was 180 million yuan, accounting for 16.37% of its net assets, an increase of 34.2683 million yuan from the end of the previous year. Among them, the inventory impairment provision was 4.3429 million yuan, and the provision ratio was 2.41%. In terms of debt repayment ability, the company's debt-to-asset ratio at the end of the second quarter of 2022 was 26.54%, an increase of 0.36 percentage points from the end of the previous year; the interest-bearing debt-to-asset ratio was 0.16%, a decrease of 0.20 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 shareholders are Ningbo Zheqi Investment Management Co., Ltd., Ningbo Hezhihe Investment Management Partnership (Limited Partnership), Ningbo Hezhirui Investment Management Partnership (Limited Partnership), Ningbo Ruizhi Investment Management Co., Ltd., Ningbo Hezhiqi Investment Management Partnership (Limited Partnership), Ningbo Hezhixing Investment Management Partnership (Limited Partnership), Ningbo Hezhizhi Investment Management Partnership (Limited Partnership). In terms of specific shareholding ratios, the holdings of Zhang Jian, CICC-China Construction Bank-CICC New Energy Stock Collective Asset Management Plan, and China-Europe Value Smart Selection Return Mixed Securities Investment Fund have increased.
| Share name | Stakeholder shares (10,000 shares) | Sales account for the total share capital (%) | Changes ratio (%) | |
|---|---|---|---|---|
| Ningbo Zheqi Investment Management Co., Ltd. | 7225.97 | 24.260179 | 1New | |
| 1Ningbo Hezhihe Investment Management Partnership (Limited Partnership) | 4084.8 | 13.714148 | New | |
| Ningbo Hezhirui Investment Management Partnership (Limited Partnership) | 2683.63 | 9.009931 | New | |
| New | ||||
| Ningbo Ruizhi Investment Management Co., Ltd. | 2208 | 7.413053 | New | |
| Ningbo Hezhiqi Investment Management Partnership (Limited Partnership) | 1315.89 | 4.417915 | New | |
| Zhang Jian | 1273.3 | 4.27494 | 0.68 | |
| 1 CICC-China Construction Bank-CICC Xinrui Stock Collective Asset Management Plan | 1050.02 | 3.525297 | 1.92 | |
| 1 Ningbo Hezhixing Investment Management Partnership (Limited Partnership) | 772.04 | 2 | 2.592011 | New |
| Ningbo Hezhi Intelligent Investment Management Partnership (Limited Partnership) | 671.89 | 2.25576 | New | |
| 1 China-Europe Value Intelligent Return Mixed Securities Investment Fund | 456.58 | 1.5329 04 | 0.35 |
In terms of chip concentration, as of the end of the second quarter of 2022, the company's total number of shareholders was 9,419, down 528 from the end of the first quarter, a decrease of 5.31%; the average shareholding market value increased from 452,600 yuan at the end of the first quarter to 584,700 yuan, an increase of 29.19%.
