四威科技二零二三年中期业绩报告

MANAGEMENT DISCUSSION AND ANALYSIS (I)RESULTS ANALYSIS During the six months ended 30 June 2023 (the “Period”),Chengdu SIWI Science and Technology Company Limited(the “Company” and together with its subsidiaries, the“Group”) was principally engaged in optical cablecomponent business, cable manufacturing business,optical fiber and optical device business and park operationbusiness. 156,171,066.8817.50%15,164,519.6214,948,146.2444.11%21,439,114.1110.33%104,619,286.9120.63% During the Period, the Group recorded a total operatingrevenue of RMB156,171,066.88, representing an increase ofapproximately 17.50% as compared with the correspondingperiod last year. During the Period, total operating revenuefrom the optical cable component business amounted toRMB15,164,519.62. Total operating revenue from the cablemanufacturing business amounted to RMB14,948,146.24,representing a decrease of approximately 44.11% ascompared with the corresponding period last year. Totaloperating revenue from the park operation businessamounted to RMB21,439,114.11, representing an increaseo f a p p r o x i m a t e l y 1 0 . 3 3 % a s c o m p a r e d w i t h t h ecorresponding period last year. Total sales of optical fibersby Chengdu SEI Optical Fiber Co., Ltd. (“Chengdu SEI”), aprincipal subsidiary of the Company, amounted toRMB104,619,286.91, representing an increase of 20.63% ascompared with the corresponding period last year. The increase in revenue from principal businesses wasmainly due to the increase in revenue from sales of opticalfiber driven by the market in the first half of 2023, and theincrease in revenue resulting from the commercialproduction of optical cable components in July 2022. 202320227 MANAGEMENT DISCUSSION AND ANALYSIS (II)REVIEW OF PRINCIPAL BUSINESSES To improve the performance of the Group, the Boardproactively adjusted the production and operationstrategies in response to the changes in internal andexternal environments of the Group and the market. Themajor business activities of the Group during the Period aresummarised as follows: I.Major operations 1. 1.Optical cable component business During the Period, although the businessvolume of the optical cable componentbusiness was not as high as expected due tothe business model, the capacity buildingachieved significant results. In terms of highand low frequency components, capacityutilisation improved significantly as comparedwith the same period last year and remainedstable due to various measures we adopted,such as improving the on-site productionmanagement, optimising the storage andtooling, developing tooling suitable for on-siteuse on production line, as well as adoptingassembly line mode and adjusting productionline layout. We also achieved processingcapability of millimeter wave products throughspecific trainings. In respect of optical fibercable components, the establishment of aproduction site and installation of equipmentwere completed and a trial production wasplanned to be initiated. At the same time, anembedment site with embedment capabilitywas established. MANAGEMENT DISCUSSION AND ANALYSIS 2.Cable manufacturing business 2. Currently, the demand of customers in the railtransit cable market has shifted from trackcable to special cable, new energy, power cableand submarine cable and other areas. As oneof the first batch of domestic track cablesuppliers with incomplete product mix, theCompany’s market expansion has beenaffected to a certain extent. During the Period,the Company focused on promoting researchand development of new products. Threesamples production and testing, simulatedacceleration life test and third party verificationresults for thin-walled rail transit cables werecompleted, and the direction of insulationtechnology was determined. The fluoroplasticcables project was approved and investigationon suppliers of XETFE materials, silver-platedconductor and extrusion equipment wascompleted. 3XETFE MANAGEMENT DISCUSSION AND ANALYSIS 3. 3.Optical fiber and optical device business I n t h e f i r s t h a l f o f 2 0 2 3 , t h e r e p e a t e dpostponement of China Mobile’s centralisedprocurement of optical fiber, coupled with anunforeseen reduction in tender volume and theanti-dumping campaigns initiated by variouscountries against domestic optical fiber andcable, has led to a decrease in domestic andinternational demand, resulting in highinventories of fiber optic enterprises anddownward movement of fiber optic prices. TheGroup exceeded its half-year business targetthrough various measures including maintainingits market sensitivity, formulating a pricingsystem in line with the market development,adopting a multi-directional and multi-channelmarketing strategy, increasing the sales of highvalue-added products, keeping abreast ofcustomers’ needs and actively exploring newcustomer resources. In addition, the Groupactively expanded its optical device products,c o m p l e t e d t h e v e r i f i c a t i o n p r o c e s s o f“