[中报]博实股份(002698):2024年半年度报告摘要（英文版）
原标题:博实股份:2024年半年度报告摘要（英文版） （Abstract） Ⅰ. Important Notes This Abstract is extracted from Semi-Annual Report 2024. In order to have a full understanding of the operating results, financial condition and future development planning of the Company, investors are suggested to read the full report carefully on the media designated by the China Securities Regulatory Commission (the “CSRC”). The Company’s 2024 Semi-Annual Report is prepared and published in Chinese version, and the English version is for reference only. Should there be any inconsistency between the Chinese version and English version, the Chinese version shall prevail. All directors attended the Board Meeting in person for reviewing of this Semi-Annual Report. Indicate by check mark if independent auditor issues non-standard unqualified opinion. □Applicable √Not applicable Indicate by check mark if there is a pre-arranged plan of profit distribution or transferring capital reserve into common stock for the report period which has been reviewed by the Board of Directors. □Applicable √Not applicable The Company does not plan to issue cash or equity dividends, nor to convert equity reserve into share capital of the Company in the mid 2024. Indicate by check mark if preplan for preferred stocks profit distribution to shareholders for the report period which has been reviewed and approved by the Board of Directors. □Applicable √Not applicable II. Basic Situation of the Company 1. Company Profile
In order to speed up the planning and implementation of the construction function of the Company’s regional headquarters and provide convenience for value investment, the Company has set up a “Securities and Investment Affairs Office”, at No.18, Hongxin Road, Huaqiao Town, Kunshan, Suzhou, Jiangsu Province. Welcome securities investors to inquire about the further information. 2. Key Financial Data and Financial Indicators Does the Company need to make retroactive adjustment or restatement of the accounting data of the previous year. □Yes √No
3. Number of Shareholders and Shareholding Unit: Share
Shareholders holding more than 5%, the top 10 shareholders and the top 10 shareholders of unlimited tradable shares participate in the refinancing business to lend shares. □Applicable √Not applicable The top 10 shareholders and the top 10 shareholders of unlimited outstanding shares have changed from the previous period due to refinancing lending/restitution reasons. □Applicable √Not applicable 4. Change of the controlling shareholder or the actual controller Change of the controlling shareholder in the reporting period □Applicable √Not applicable The controlling shareholder did not change in the reporting period. Change of the actual controller in the reporting period □Applicable √Not applicable The actual controller did not change in the reporting period. 5. Number of preference shareholders and shareholdings of top 10 of them □Applicable √Not applicable The Company had no preference shareholders in the reporting period. 6. Corporate bonds that existed on the date when this Report was authorized for issue (1) Bond profile
(3) Top 10 convertible bond holders
III. Other Significant Events st The Company held the sixth meeting of the fifth Board of Directors on November 1 , 2023, reviewed and th passed the Proposal on the Plan to Buy back Part of the Company’s Shares. As of March 15 , 2024, the Company confirmed that this share buy-back plan has been completed, and the Company has done 7,203,019 shares buy-back of the Company in total, accounting for 0.70% of the total share capital, with the highest transaction price of RMB 17.88 per share and the lowest transaction price of RMB 10.58 per share. The total transaction amount is RMB 100,125,282.85 (excluding transaction fees). IV. Operating Performance Discussion and Analysis 1. Company Main Businesses during the Reporting Period (1) Industry overview during reporting period ①Industry overview According to the proportion of revenue during the reporting period, the Company’s main businesses in its industry are shown in the following figure： The core growth businesses of the Company are intelligent manufacturing equipment and industrial services rooted in intelligent manufacturing equipment, which belong to high-end equipment manufacturing industry and modern service industry respectively. Moreover, they are all key industrial directions supported and encouraged by the State. From the perspective of revenue composition, the revenue of two core growing businesses, intelligent manufacturing equipment and industrial services, account for 87% of total, environmental protection process and equipment accounted for 13%, which was supplemented beneficially to the Company’s overall performance. Intelligent Manufacturing Equipment： “Manufacturing is the main body of the national economy, the foundation of building the country, the instrument of rejuvenating the country and the foundation of strengthening the country.” Made in China 2025 points out that “accelerating the integrated development of the new generation of information technology and manufacturing technology and taking intelligent manufacturing are the main direction of the th in-depth integration of informatization and industrialization.” In recent years, the state issued the 14 th Five-Year Plan for Intelligent Manufacturing Development, the 14 Five-Year Plan for the Development of th Robot Industry, the 14 Five-Year Plan for In-depth Integration of IT Application and Industrialization, the th 14 Five-Year Plan for the Development of Digital Economy, “Robot Plus” Application and Implementation Plan, Implementation Opinions on Promoting Innovative Development of Future Industries, which th established the high-end equipment manufacturing industry in the “14 Five-Year Plan” and 2035 long term goals, promoted the layout of future industrial innovation and development, provided clear guidelines and directions for accelerating the construction of a manufacturing power, a digital industry and a digital China From the manufactory industry practice, large-scale Chinese manufacturing enterprises generally use automated product equipment, however, a low percentage of them are digitized among them, not much data is shared among factories, and fewer intelligent technologies are used. The overall level of intelligent manufacturing in China is still far away from the world’s advanced level. It is foreseeable that the demand for intelligent manufacturing equipment and intelligent factory overall solutions in internal driving force of leading manufacturing enterprise has long-term and continuous characteristics, with huge potential and without obvious periodicity. The Company has been engaging in the field of intelligent equipment for a long time, with independent intellectual property rights of intelligent manufacturing equipment products, to help China’s manufacturing promote quality and efficiency. Replacing imported equipment or industry-first applications to promote the technological progress of related industries with scientific and technological innovation. The Company’s intelligent manufacturing equipment are widely applied in petrochemical, sub-merged arc furnace, new energy, grain, animal feeds, building materials, medicine, food, port, and many other industries, to provide customers with efficient intelligent manufacturing equipment, and promote the application and implementation of the overall smart factory solution. In recent years, the State actively advocates the implementation of industrial digitalization strategies. The Company has accelerated the accumulation application of digital and intelligent technologies mastered. Now it has the designing and implementation capability of digital workshops，intelligent factories and overall solutions in multiple product application fields. The Company’s technology and intelligent equipment are in the leading position in the application field of domestic industry, no competitors in the same volume; In some fields, the Company products and technology applications are in the world leading level. The Company implements differentiation competitive strategy (technology leadership). With the accumulation and industrial application practice in the direction of automation, digital, intelligent manufacturing, the Company responses and guilds the market demand actively with rich product line and intelligent manufacturing overall solution; In recent years, the Company’s intelligent manufacturing equipment business has achieved sustained good and rapid development in terms of product innovation, application fields, revenue scale and profit level, and has brought desirable returns to shareholders. Industrial Service： th On March 16 , 2021, the National Development and Reform Commission, the Ministry of Science and Technology, the Ministry of Industry and Information Technology and the like totaling thirteen departments jointly issued the Opinions on Accelerating the High-quality Development of the Manufacturing Service Industry, pointing out, “manufacturing service industry is an important support for improving the competitiveness and comprehensive strength of manufacturing products.” Service-oriented manufacturing, as a new manufacturing mode and industrial form with the integrated development of manufacturing and service, is an important measure to promote the integrated development of China’s industries and build a modern industrial system, as well as an important direction for the deep integration of advanced manufacturing and modern service industries, also an important path to realize the transformation and upgrading of manufacturing and promote the high-quality development of manufacturing. Through innovation to optimize the form of production organization, operation management mode and business and output, transform from processing and assembly to “manufacturing + service”, from the mere sale of products to the sale of “product + service”, these are conducive to extending and upgrading the value chain, increase total factor productivity, product added value and market share. The production and operation management service of the Company’s for customers in intelligent manufacturing equipment field includes integrated industrial services for process plant and equipment daily operation, repair, maintenance, finished products outbound & inbound, transfer, truck loading and so on. The Company’s professional services contribute customers to concentrate resources on core competitiveness, reduce costs and increase efficiency, and achieve high-quality development. The Company relays on the leading technology advantage, and continues to vigorously promote the strategy of product and service integration over the years. The professional, economic, high-quality and efficient industrial service has been recognized and praised by customers. Based on the awards and encouragement of Company’s achievements in “manufacturing + service”, the Company was identified as “Pilot Unit of Advanced Manufacturing and Modern Service Industry” in August 2021 by the National Development and Reform Commission. In January 2023, the Company was selected into the “The Fourth Batch of Service-oriented Manufacturing Demonstration List” of the General Office of the Ministry of Industry and Information Technology. Over the years, based on the manufacturing industry, the Company’s industrial services achieved long-term sustained growth, the service network has covered all provinces, regions and municipalities in China except Hong Kong, Macao, Taiwan and Xizang; the service scale and profitability are in the leading position in the industry. The Company’s industrial services, on the one hand, will maintain a steady growth with the growth of product sales and equipment implement stock. On the other hand, this will actively develop the deep service needs of customers, after the Company undertakes and implements new production and operation industrial service projects, the service scale expansion is expected to accelerate. During 2024 H1, The Company’s overall industrial services revenue reached 359 million, increase 9.97% year-on-year. The revenue of industrial services, an important source that constitutes the Company’s revenue and profit, has grown year after year, this will enhance the whole Company’s ability to resist risks. Environmental Protection Process and Equipment: “Clear water and green mountains are gold and silver mountains. A sound ecological environment is not only natural wealth, but also economic wealth, which is related to the potential and sustainability of economic and social development.” Harbin Boao Environmental Technology Co., Ltd, the holding subsidiary of the Company, can collect and treat industrial waste sulfuric acid and sulfur-containing acid gases in chemical production to produce high-purity sulfuric acid for recycling production, and to recycle and reuse the heat energy released in the process to achieve energy saving, emission reduction, recycling, economic and environmental results. During the reporting period, due to the completion of the project in execution, delivery and acceptance, and the recognition of revenue, the proportion of environmental protection technology and equipment revenue has been greatly improved, reaching 13%, but the gross margin the current period is relatively low, environmental protection process and equipment played a beneficial complementary role in the overall ②Industry policy impact Intelligent manufacturing equipment, industrial services, and environmental protection process and equipment industries all are key industrial directions encouraged by the state and led by policies. In recent years, the state has issued intensive industrial policies and industry plans related to intelligent manufacturing, robot and digital economy, leading the development of the industry, promoting large-scale equipment renewal, and the related field is facing major development opportunities. At the same time, the technology accumulation and technological innovation of high-end equipment manufacturing enterprises are constantly improved, with the promoting of national digital infrastructure construction, the project application and implementation ability is becoming increasingly mature. From the Company’s long-term industrial practice in the field of intelligent equipment industry, equipment automation, digitalization and intelligent manufacturing are in great demand for China’s manufacturing enterprises, and the field of intelligent manufacturing equipment will continue to develop healthily. During the reporting period, the industry policies facing by the Company did not change significantly, please refer to Section Ⅲ: Operating Performance Discussion and Analysis，industry policy impact of 2023 Annual Report for details. (2) Company Main Businesses during the Reporting Period ①Main products, services and application level Overall Solution for Intelligent Manufacturing Equipment and Intelligent Factory Post-processing Intelligent Manufacturing Post-processing Intelligent Manufacturing Equipment for Solid Material Equipment for Rubber It is applied in the post-processing fields for the It is intelligent equipment and intelligent plant overall powder, granular materials or irregular materials of solution, applied in production process of synthetic petrochemical, new energy, grain, animal feeds, rubber and natural rubber and in the fields of product building materials, medicine, food, ports etc. (such as refining process, dewatering and drying process crushing, screening, bagging, boxing and transportation (rubber washing, cleaning and impurity removal, of new energy field polysilicon reduced silicon rods, dewatering, crushing and drying, etc.) and finished etc.), providing efficient automatic weighing, packaging product packaging process (weighing, baling, and palletizing intelligent manufacturing and detecting, conveying, packaging and palletizing, etc.) production equipment and overall solutions of smart factories. In the field of post-processing high-end equipment for powder and granular materials in China it has obvious Complete product line, covering natural rubber and advantages and a stable competitive position. In the field synthetic rubber; It is the only supplier which can of post-processing high-end equipment for the new provide complete large-scale systems worldwide. energ y field irregular polysilicon materials, the original first set of applications has promoted the upgrade of intelligent manufacturing in the industry. Robot Plus Intelligent Logistics, Warehousing Systems Connecting solid material post-processing intelligent manufacturing equipment with rubber post-processing (High temperature) Operation robot for submerged arc intelligent manufacturing equipment to realize furnace and serialized intelligent products, complete intelligent identification, outbound and inbound system solutions are applied for high-risk working warehousing management, logistics transshipment, environment as well as other special operation robots fully automatic vehicle loading, etc., which widely used and complete system solutions which can replace in many industries of national economy, to help high-risk, harsh working conditions, and heavy manual customers to build smart factory overall solutions. labor. (High temperature) Operation robot for sub-merged arc furnace and its surrounding systems are in leading Fully automatic loading machine has formed the first position worldwide in the field of calcium carbide; mover advantage of the scale of application, the It is carrying out innovative implementation of the intelligent workshop project for the calcium carbide arc market responded positively, the future demand in furnace, committed to promoting the production of many fields and industries has great potential fewer people, unmanned, safe, efficient and environmental”, and bringing the traditional industrial technology revolution with industry subversive technology. Industrial Services Based on intelligent manufacturing equipment, industrial services are mainly divided into integrated managed operation and maintenance services, equipment maintenance, maintenance, spare parts sales and other operation and maintenance, after-sales industrial services and supplementary industrial services for the application field of intelligent manufacturing equipment. Adhering to the Company’s technological leadership in the field of intelligent equipment, leading service capabilities and scale in the field ②Business mode The business model of large-scale intelligent manufacturing equipment is summarized from sales, production organization, product delivery and acceptance, revenue recognition and other links, as shown in the following figure: The content characteristics of the operation and maintenance aftermarket and complementary industrial services business models are summarized in the figure below: Industrial Services——Operation, Maintenanc e and After-sales Type Industrial Services Industrial Services——Supplementary Industrial Services and Miscellaneous The Company has long been committed to the innovation and development of intelligent manufacturing equipment in the field of product application of intelligent manufacturing equipment, to achieve the substitution of domestic equipment for imports and the independent and controllable core technology of major equipment. Through the implementation of differentiated competition strategy of technology leading, the Company continues to open up new markets and lead new demands. The Company’s long-term accumulation of core technical capabilities formed deep industrial application practical experience, the efficient technology development path, “point → line → whole”, as well as the main R&D of high technical barriers positioning, constitute the Company’s sustainable and healthy development of the main internal driving factors. The medium and long-term strategic plans, China Intelligent Manufacturing 2025 and 2035 etc., the intensive introduction of industrial promotion policies such as intelligent manufacturing, robotics, and digital economy, as well as the internal demand for automation, digitalization, and intelligent manufacturing, constitute the external motivation for the high-quality development of the Company. In recent years, the Company achieved outstanding results in technology leadership strategy, large system complete strategy, product service integration strategy. In the application field of the Company’s products, the continuous improvement of the Company’s overall solution capability of intelligent manufacturing, the implementation of smart factories, and the collaborative contribution of “intelligent equipment” + “industrial services” have consolidated the Company’s core competitive strength and achieved good and rapid development of business performance. The main business that is highly compatible with the development direction of China’s intelligent manufacturing will continue to contribute to the growth momentum of the Company. 2.Core Competitiveness Analysis As a technology innovation enterprise, the Company adheres to a differentiated competitive strategy of practical experience in industrial applications to maintain a competitive position in the field in which it is engaged over time. The Company’s intelligent manufacturing equipment and industrial service businesses are effectively synergized and optimally linked, and environmental protection process equipment to the Company’s overall performance constitutes a beneficial supplement. In recent years, the business scale has grown rapidly, and profitability has been greatly improved. With the steady improvement of the Company’s digitalization and intelligence in the direction of intelligent manufacturing equipment products, and the expansion of product application capabilities in intelligent manufacturing overall solutions and smart factories, the comprehensive competitiveness has been steadily enhanced. (1) Industry status The Company has a solid competitive advantage in the core growth business areas of intelligent manufacturing equipment and industrial services, and its main product, technology and application scale have been playing a leading role for a long time in the domestic product application field, and has won a number of industry awards. (2) Leading competitiveness of products and technologies Innovation is the source power to lead the development of technology enterprise, and technology-leading is an important core competitiveness of the Company. Facing the needs of the industry, the Company has increased investment in R&D, grasped new opportunities, expanded new fields, and continuously improved the product technology innovation ability and application ability. The technological leadership advantage continues to enhance and be a competitive position in the industry. From the perspective of intelligent manufacturing equipment product line, the Company’s intelligent equipment has advantageous technical features of accuracy and high operational reliability suitable for the customer production environment with high efficiency, safety and precise production requirements. In the domestic product application field, products and technology are at domestic leading level and international From the perspective of the overall solution of intelligent manufacturing, The Company applies artificial intelligence technologies such as machine vision recognition, deep learning, and robot control algorithms to innovative products in multiple categories, to create digital and intelligent production scenarios for customers, which realizes the overall solution of solid materials post-processing and sub-merged arc furnace smelting products intelligent workshop etc., help customers realize the digital and intelligent transformation and realize intelligent manufacturing. (3) Underlying technology accumulation and application platform technology to enhance the competitiveness. Mastering the underlying technology, algorithm and application platform technology can truly realize the autonomy and control of the core technology, and continuous promotion is the key technological path for the Company to implement the differentiated competition strategy of the Company’s technology leadership and enhance the core competitiveness. Taking the accumulation and development and application of the Company’s technology in the field of robot plus as an example, mastering these capabilities can rapidly develop robot products of different models and different functions according to the needs of the industry, which is the core technology that the company must master to implement digital workshops and smart factories and realize industrial digitalization. Legend：Development platform for mobile robot system based on autonomous navigation Note: This section is schematic diagram, some photos and blurred images, under the premise of technical confidentiality, are used to enhance investors’ understanding of relevant applications, the following is omitted. Legend：Motion control system Legend：R&D platform based on artificial intelligence (4) Performance-driven dual engines of two core growth businesses, “intelligent equipment” + “industrial service”. The Company integrates technology leadership in intelligent equipment and advantages of scale in product applications with industrial service closely, actively promotes the strategy of products and service integration and service business has sustained long-term growth. The Company’s professional, high-quality, efficient and advanced industrial service model is a win-win choice for customers’ continuous, stable and efficient production intelligent equipment and industrial services promote each other, interact positively and develop together. During 2024 H1, the Company’s industrial services revenue increased 9.97% year-on-year, reaching RMB 359 million, and continued to maintain steady growth; “intelligent equipment” + “industrial services” are the Company’s two core growth business, constituting the double engine driving the Company’s performance. Legend: The positive interaction between intelligent equipment and industrial service (5) “Point → Line → Whole”, the efficient R&D pathway. Throughout the Company’s technology, product development and industrialization process, the Company enters new industries and new fields usually with key single unit equipment (“points”); after breakthrough in solving the long-term constraints of industrial development pain points, quickly form an automated production line (“line”); With the accumulation of technology and the in-depth understanding of the industry, the Company forms the ability to develop a total solution (“whole”) for intelligent manufacturing in turn. This process of technological path from “point → line → whole” helps the Company to concentrate technical and financial resources, reduce product development risks, improve the efficiency of R&D investment outputs, open the ceiling of growth with new products, new fields, new applications, new markets, and comprehensively enhance the Company’s core competitiveness. Single unit sales (“point”), it is inevitable to face large competition, small the project potential contract, limited market space; The complete equipment sales (“line”), the competitive environment improves, the competitive pressure decreases, the market space increases, and the potential contract amount is enlarged; The overall solution of intelligent manufacturing (“whole”), limited competitors, strong competitiveness, Take the (high temperature) operation robot for sub-merged arc furnace as an example, the urgent demand for safety production and replacing labors for traditional calcium carbide sub-merged arc furnace industry, based on the industrial robot technology, the Company successfully developed and applied (high temperature) sub-merged arc furnace operation robot which replaces manual work in dangerous and harsh environments for calcium carbide which has epoch-making significance to traditional production (“point”), and successively developed ramming robot for calcium carbide, patrolling robot, intelligent pot transfer technology and other key production system (“line”), until forming science and technology innovation ability of an intelligent workshop overall solution that subverts the traditional production operations of the industry (“whole”), realizing few men, unmanned factories and intelligent manufacturing. (6) Based on the technological breakthroughs and accumulation of technology in a certain field, cross-industry “re-development” and “re-application” accelerate the Company’s core competitiveness. Based on the technological breakthrough and technology accumulation in the direction of special operation robots in calcium carbide high-temperature operation environment, the Company has carried out horizontal redevelopment for high temperature furnace operation environments of multiple submerged arc furnace, such as ferrosilicon, silicon manganese, industrial silicon, etc., also has achieved stage-by-stage application results and has signed orders for the products one after another. In the future, the Company may redevelop and reapply the technology formed in the overall solution of the intelligent factory of other calcium carbide submerged arc furnace to the field of submerged arc furnace mentioned above, accelerate the enhancement of the Company’s core competitiveness. Legend：The product atlas of special operation robot in high temperature environment (7) Smart workshops, smart factories, and overall solutions further enhance the Company’s competitive advantages. The Company applies intelligent technologies such as visual recognition, deep learning, robot control algorithm, and expert control strategy, combined with industrial Internet communication technology, to the overall solution of smart factories, in order to achieve the minimum number of people and unmanned workshops, and promote the upgrading of intelligent manufacturing industry in related industries. Customers relying on intelligent production decision-making management, achieve safe, efficient and precise production. The after-treatment intelligent workshop project of calcium carbide finished products delivered from the Company to customers has realized the replacement of manual work under dangerous, harsh and heavy working conditions with high-tech products, and subverted the traditional process, promote the change of production methods, improve the safety of workers and well-being, is of great significance to the calcium carbide industry, it is an innovative application that overturns the traditional way of craftsmanship; Secondly, the overall market space of the smart factory theoretically expected to form several times, ten times the market potential of the original high-temperature furnace operation robot. “Whole” which is the ability of the overall solution of the smart factory determines that the Company is in an advantageous position in the future market competition. Legend：Calcium carbide production intelligent workshop to achieve few people, unmanned production operations (8) Brand competitiveness The Company builds brand with quality, seeks progress with technology, and wins trust with service. Through high-quality products and efficient services, we strive to realize production automation, digitization and intelligent manufacturing for customers. The Company’s brand enjoys a constant leading in popularity, high reputation and customer loyalty in the main domestic product application fields. The Company pursues excellence, leads the development of intelligent manufacturing equipment in the application industry and builds up a stable, cooperative and win-win customer base for a long time. High-quality customer resources and huge potential demand for intelligent manufacturing equipment is the foundation and fertile soil of the Company’s sustainable and rapid development. (9) Achievements in intellectual property, proprietary technology and software copyright. During the reporting period, the Company obtained 33 patents approved by the State Intellectual Property Office, including 13 invention patents and 20 utility model patents; 6 software copyrights are approved by the National Copyright Administration. In addition to patent technology, the Company has a considerable amount of core technical know-how that exists in the form of proprietary technology by relying on confidentiality measures. The patents, proprietary technology and software copyright owned and mastered by the Company is the Company’s significant core competitiveness. (Note: The amount of intellectual property acquired during the reporting period may have a slight deviation due to the limitation of statistical time points, and is only for investors’ trend reference.) (10) Social and economic benefits The transformation of traditional industries with high technology is the responsibility and mission given to （未完）  |