“Science and Technology Innovation Board Daily”, July 24 (Reporter Huang Xiumei) This evening (July 24), Hangya Technology revealed the first semi-annual report of a company listed on the Science and Technology Innovation Board in 2024.

The report shows that in the first half of this year, Hangya Technology achieved revenue of 0.34 billion yuan, an increase of 32.8% year on year; net profit to mother was 67.2107 million yuan, an increase of 97.76% year on year. During the reporting period, R&D investment was 23.22 million yuan, accounting for 6.84% of revenue, a decrease of 5.30 percentage points.

Hangya Technology focuses on R&D, production and sales of key components for aero engines and gas turbines and medical orthopedic implant forgings.

In terms of aero engine business, it is already a supplier to mainstream domestic and foreign aero engine manufacturers such as France's Safran Group, China Aviation Development Group, American GE Airlines, British RR, etc., as well as domestic engine design institutes.

In terms of products, Aviation-related business revenue for the first half of this year was 0.312 billion yuan, accounting for 92.96% of total revenue, up from 0.226 billion yuan in the same period last year. During the same period, medical-related business revenue was 23.67 million yuan, down from 27.57 million yuan in the same period last year.

Regarding the specific operating situation of the business, Hangya Technology said that the blade business, as the company's cornerstone business, maintained sustainable and steady growth in the first half of this year.

Specifically, Hangya Technology has pioneered the development of new products for other engine models for customers, and with the gradual increase in domestic next-generation engines, the smooth progress of commercial engine development and the strengthening of the trend of gas turbine import substitution, the share of the domestic blade business has gradually increased. Meanwhile, the international blade business has also formed a trend of rolling R&D and rolling growth.

Furthermore, in terms of the rotor structural parts business, the domestic turbine disc and chassis business both showed double growth in terms of model coverage and share.

In terms of medical orthopedic implant forgings, Hangya Technology has also joined Xerox and Johnson's global supplier lists.

On the evening of the same day (July 24), Hangya Technology issued an announcement to stop issuing convertible corporate bonds to unspecified targets.

Earlier, on August 7, 2023, Hangya Technology announced the financing plan for the first time, and plans to raise 0.5 billion yuan. Of this, 0.424 billion yuan was used for the second phase construction project of the three-phase production line for key aero engine components; 80 million yuan was used to supplement working capital.

Meanwhile, in the relevant termination announcement on the evening of today (July 24), Hangya Technology stated that since the second half of 2023, the macroeconomic environment and regulatory policies have changed significantly.

“The company's IPO fundraising project has been completed and put into operation, and it is expected that various production capacities can meet the business needs of the next two to three years. Moreover, at present, the company's debt ratio is not high, operating cash flow is stable, and the financial situation is relatively stable. In addition, the cost of indirect financing is relatively low. The company has the ability to raise the capital needed for development in the next few years through commercial credit, etc., and finally decided to terminate this financing plan.” According to Aviation Asia Technology.

Hangya Technology also mentioned in this year's semi-annual report that the construction of the overall plant and supporting facilities for the company's production capacity expansion project for key aero engine components has been fully completed.

The welding workshop built by the R&D center project has entered the equipment verification and product development stage, and its supporting X-ray inspection, large-scale corrosion lines, fluorescence lines, and vacuum heat treatment equipment is scheduled to be put into operation in the third quarter.

According to the data, as of the first half of this year, Hangya Technology's accounts receivable amount was 0.276 billion yuan, up 51.61% from the beginning of the year; the amount of notes receivable was 44.4797 million yuan, down 46.23% from the beginning of the year. As of the first half of this year, the company's inventory carrying amount was 0.174 billion yuan.