TQM(002510)2023-08-29 16:00Financial Performance - Revenue for the first half of 2023 increased by 49.10% to RMB 1,099,062,948.13 compared to the same period last year[22] - Net profit attributable to shareholders of the listed company rose by 18.68% to RMB 51,987,267.09 year-on-year[22] - Total assets grew by 7.48% to RMB 6,178,238,474.11 compared to the end of the previous year[22] - The company's weighted average return on equity (ROE) increased by 0.28 percentage points to 2.54%[22] - Operating cash flow improved by 4.94% to RMB -49,514,039.17 compared to the same period last year[22] - Basic earnings per share (EPS) increased by 18.71% to RMB 0.0552[22] - The company achieved a revenue of 1,099,062,948.13 yuan in the reporting period, a year-on-year increase of 49.10%[37] - The company's net profit attributable to shareholders of the listed company was 51,987,300 yuan, a year-on-year increase of 18.68%[37] - Total revenue increased by 49.10% to 1.099 billion yuan, with manufacturing accounting for 93.48% of total revenue[40] - Revenue from military products surged by 1,038.02% to 7.86 million yuan[40] - Gross margin for manufacturing decreased by 1.37% to 14.22%[41] - Gross margin for domestic sales decreased by 2.30% to 11.41%[41] - Total operating revenue for the first half of 2023 reached 1,099,062,948.13 yuan, a 49.1% increase from 737,121,679.11 yuan in the same period last year[155] - Net profit attributable to parent company owners was 100,168,471.16 yuan, a 108% increase from 48,181,204.07 yuan at the beginning of the year[149] - Revenue for the first half of 2023 reached 363,657,031.23 yuan, a significant increase from 234,849,134.21 yuan in the same period last year[159] - Operating profit for the first half of 2023 was 53,272,034.56 yuan, compared to 13,086,428.50 yuan in the first half of 2022[160] - Net profit for the first half of 2023 was 55,688,172.40 yuan, up from 15,864,475.72 yuan in the same period last year[160] - Comprehensive income for the first half of 2023 was 54,653,038.40 yuan, compared to 15,864,475.72 yuan in the first half of 2022[161] - Basic earnings per share for the first half of 2023 were 0.0552, up from 0.0465 in the same period last year[157] - Sales of goods and services received cash of 1,098,955,409.89 yuan in the first half of 2023, a 10.7% increase compared to 993,096,141.32 yuan in the same period of 2022[162] - Net cash flow from operating activities was -49,514,039.17 yuan in the first half of 2023, improving from -52,087,420.15 yuan in the same period of 2022[162] - Net cash flow from investing activities was -167,125,629.91 yuan in the first half of 2023, a significant decrease from 9,698,854.57 yuan in the same period of 2022[164] - Net cash flow from financing activities was 431,257,685.02 yuan in the first half of 2023, a substantial increase from 10,604,798.34 yuan in the same period of 2022[164] - The company's cash and cash equivalents increased by 217,184,275.86 yuan in the first half of 2023, compared to a decrease of 30,103,403.00 yuan in the same period of 2022[164] - Parent company's sales of goods and services received cash of 360,184,409.14 yuan in the first half of 2023, a 14.7% decrease compared to 422,319,755.66 yuan in the same period of 2022[166] - Parent company's net cash flow from operating activities was -22,145,425.63 yuan in the first half of 2023, improving from -131,789,813.81 yuan in the same period of 2022[166] - Parent company's net cash flow from investing activities was 42,180,454.07 yuan in the first half of 2023, a slight decrease from 46,135,604.89 yuan in the same period of 2022[167] - Parent company's net cash flow from financing activities was 25,267,507.66 yuan in the first half of 2023, a significant improvement from -19,475,837.82 yuan in the same period of 2022[167] - Parent company's cash and cash equivalents increased by 47,657,290.18 yuan in the first half of 2023, compared to a decrease of 103,553,319.82 yuan in the same period of 2022[167] - Total equity attributable to owners of the parent company at the end of the period was 2,086.35 million yuan, an increase from the previous year's 1,684.74 million yuan[169][171] - Comprehensive income for the period was -1,455.88 million yuan, a significant decrease compared to the previous period[169][170] - Owner's capital contribution and reduction amounted to 1,524.56 million yuan, primarily from other equity tool holders[170] - Profit distribution and other comprehensive income adjustments resulted in a net decrease of 1,475.88 million yuan in owner's equity[169][170] - Special reserves and other adjustments contributed 1,474.52 million yuan to the period's equity changes[171] - The company's total assets at the end of the period stood at 9,416,452.00 thousand yuan, with owner's equity accounting for 2,086.35 million yuan[169][171] - Other comprehensive income showed a negative impact of -1,455.88 million yuan on the company's financial position[169][170] - Capital reserves and retained earnings experienced significant fluctuations, with capital reserves decreasing by 1,473.82 million yuan[169][171] - The company's financial structure remained stable with a capital adequacy ratio of 36.21% at the end of the reporting period[169][171] - Profit allocation to shareholders decreased by 1,624.68 million yuan compared to the previous period[170] - Share capital increased by 28.6 million, reaching 941.645 million[172][173] - Other equity tools contributed 92.607 million to the capital increase[173] - Comprehensive income for the period totaled 105.211 million[172] - Total owner's equity at the end of the period was 2.033 billion[173] - Retained earnings decreased by 32.003 million[172] - Capital reserve increased by 14.443 million[173] - Other comprehensive income added 10.578 million[172] - Special reserve usage amounted to 14.376 million[173] - Other adjustments contributed 50.576 million to equity[173] - Total equity changes for the period amounted to 100.877 million[172] - Share capital increased by 472.0 million, reaching 941,645.76 million[176][177] - Capital reserve decreased by 375.8 million, totaling 58,236,621.27 million[176][177] - Comprehensive income decreased by 1,035,134.00 million, resulting in a total of 44,859,104.75 million[176][177] - Retained earnings increased by 55,688,172.40 million, reaching 566,647.95 million[176][177] - Total equity increased by 53,180,135.26 million, totaling 1,461,971,314.55 million[176][177] - Other equity instruments increased by 1,524.0 million, reaching 1,620.0 million[176] - Special reserve decreased by 2.0 million, totaling 1,474,523.8 million[177] - Undistributed profits decreased by 510,976.17 million, resulting in a total of 1,461,971,314.55 million[177] - Equity attributable to owners increased by 1,620.0 million, reaching 1,461,971,314.55 million[176][177] - Other comprehensive income decreased by 1,035,134.00 million, totaling 44,859,104.75 million[176][177] - The company's total comprehensive income for the period was RMB 8,859,500,000[179] - The company's total equity at the end of the period was RMB 1,408,791,179.29[180] Business Operations - The company's main business remains focused on automotive molds, with a significant portion being stamping molds[15] - The company's mold-related business achieved sales revenue of 480,245,500 yuan, a year-on-year increase of 48.44%[35] - The company's stamping business achieved sales revenue of 502,778,500 yuan, a year-on-year increase of 45.30%[35] - The company's aviation business achieved sales revenue of 36,481,100 yuan, a year-on-year increase of 20.69%[36] - The company's operating costs increased by 51.84% to 945,685,772.00 yuan due to the growth in sales scale[38] - The company's management expenses increased by 40.74% to 57,598,609.60 yuan due to improved economic conditions and increased employee compensation[38] - The company has a total of 214 patents, including 177 utility model patents and 37 invention patents[32] - The company has 3,227 employees, including 2,090 with university degrees and 871 technical R&D personnel[33] - The company's mold orders on hand amount to approximately 2.5 billion yuan, providing a solid foundation for future development[35] - Financial expenses increased by 423.63% to 20.55 million yuan due to an increase in bank interest-bearing liabilities[39] - R&D investment increased by 21.75% to 46.92 million yuan[39] - Net cash flow from financing activities surged by 3,966.63% to 431.26 million yuan due to an increase in bank interest-bearing liabilities[39] - Long-term loans increased by 3.47% to 562.26 million yuan[43] - Investment in the reporting period increased by 482.69% to 213.03 million yuan[47] - The company invested RMB 181.42 million in the construction of a car stamping and welding assembly production project, with a total investment of RMB 322.43 million[49] - The company issued convertible bonds with a total face value of RMB 471 million in 2019, and the net proceeds after deducting issuance costs were RMB 460.74 million[55] - The large-scale high-quality mold flexible production line intelligent expansion and upgrade project has an investment progress of 11.32%, with RMB 3.86 million invested in the reporting period[57] - The company extended the construction period of the large-scale high-quality mold flexible production line intelligent expansion and upgrade project to June 30, 2024, due to economic environment impacts and cost-saving measures[57] - The company used RMB 183.331 million of raised funds to replace pre-invested funds in the raised capital investment projects and self-raised funds for paid issuance expenses[58] - The company temporarily supplemented working capital with RMB 150 million of idle raised funds, which was fully repaid within 12 months[58] - The company temporarily supplemented working capital with RMB 250 million of idle raised funds, which was fully repaid within 12 months[58] - The company temporarily supplemented working capital with RMB 280 million of idle raised funds, which was fully repaid within 12 months[58] - The subsidiary Tianjin Tianqi Mo Zhitong Body Technology Co., Ltd. achieved revenue of RMB 551.1056 million and net profit of RMB 22.6228 million[63] - The subsidiary Shenyang Tianqi Mo Aviation Parts Co., Ltd. achieved revenue of RMB 36.8628 million and net profit of RMB 5.7184 million[63] - The subsidiary Hebi Tianqi Automotive Mould Co., Ltd. achieved revenue of RMB 42.157 million and net profit of RMB 7.6154 million[63] - The company's equity investment in Dongshi Automotive Technology Group Co., Ltd. contributed an investment income of RMB 33.4599 million[65] - The company operates in the automotive mold and stamping parts manufacturing industry, with products used in automotive component production[191] - The company has 18 subsidiaries included in the consolidated financial statements[193] Risks and Challenges - The company faces risks such as economic cyclical adjustments affecting the automotive mold industry and market risks[4] - The company faces risks from economic cyclical adjustments affecting the automotive mold industry, market competition, and uneven monthly income and profits[66] - The company has a risk of bad debts from accounts receivable, although the risk is currently low due to the strong creditworthiness of its major clients[67] - The company's core business is automotive molds, with significant and rapidly growing external investments, particularly in emerging fields with short technology iteration cycles and higher risks[68] - The company faces potential risks from exchange rate fluctuations due to its export business being predominantly settled in USD or EUR[69] - There is a risk of shortage of high-level technical talent, especially in mold development and debugging, due to intense competition for skilled professionals[69] Corporate Governance and Compliance - No cash dividends, stock dividends, or capital reserve to share capital conversion plans were announced[4] - The company's non-recurring profit and loss items included government subsidies and gains from financial asset transactions[26] - The company has established a comprehensive corporate governance structure and internal control system to protect shareholder interests[80] - The company emphasizes employee welfare, including social insurance and housing provident fund contributions, and focuses on talent development and retention[81] - The company adheres to a "safety first" policy and has implemented an ISO 14001 environmental management system to ensure sustainable development[82] - The company's controlling shareholders and related parties have not engaged in any business that competes with the company, and no violations of these commitments were reported during the period[85] - No non-operational fund occupation by controlling shareholders or related parties was reported during the period[86] - The company reported no illegal external guarantees during the reporting period[87] - The semi-annual financial report was not audited[88] - The company's subsidiary, TianJin Motor Dies Europe GmbH, is undergoing bankruptcy liquidation as of the report date[89] - The company is involved in 7 ongoing lawsuits with a total amount of 6,107.69 thousand RMB, none of which have formed estimated liabilities[90] - The company's associated transaction amount with Hunan Tianqi Automobile Technology Co., Ltd. is 1.9793 million yuan, accounting for 44.58% of similar transactions[92] - The company's associated transaction amount with Tianjin Tianqi Mold Aviation High-pressure Forming Technology Co., Ltd. is 4.0282 million yuan, accounting for 44.58% of similar transactions[92] - The company's associated transaction amount with Zhuzhou Tianqi Mold Technology Co., Ltd. is 4.2997 million yuan, accounting for 44.58% of similar transactions[93] - The company leased 31,271.80 square meters of land and 16,677.56 square meters of property from Tianjin Automotive Industry (Group) Co., Ltd. with an annual rent of 620,000 yuan for a 20-year term[104] - The company leased 2,047 square meters of factory space to Tianjin Langqi Mold Co., Ltd. with an annual rent of 614,100 yuan for a 3-year term[104] - The company leased 851 square meters of factory space to Tianjin Jinqu General Co., Ltd. with an annual rent of 255,300 yuan for a 6-year term[104] - The company leased 4,660 square meters of factory space to Tianjin Kaide Industrial Co., Ltd. with an annual rent of 1,230,200 yuan for a 1-year term[105] - The company leased 7,518 square meters of factory space to Tianjin Bestek Automotive Technology Co., Ltd. with an annual rent of 2,435,800 yuan for a 1-year term[105] - The company leased 1,600 square meters of office space and 1,200 square meters of heat pump workshop to Tianjin New Era Aerospace Technology Co., Ltd. with an annual rent of 840,000 yuan for a 5-year term[105] - The company leased 1,602 square meters of factory space to Tianjin Liansheng Precision Machinery Co., Ltd. with an annual rent of 403,700 yuan for a 15-year term[106] - The company leased 190 square meters of factory space to Lianchuang Machinery Equipment (Tianjin) Co., Ltd. with an annual rent of 47,900 yuan for a 3-year term[106] - The company's subsidiary leased 2,160 square meters of factory space and 112 square meters of office space to Tianjin Tianqi Mold Hangyu High-Pressure Forming Technology Co., Ltd. with an annual rent of 681,600 yuan for a 5-year term[106] - Subsidiary Tianjin Tianqi Automobile Mould Co., Ltd. leased 9,662 square meters of factory space to Tianjin Fengrui Automobile Technology Co., Ltd. for an annual rent of 2.2882 million yuan[107] - Subsidiary Tianjin Tianqi Automobile Mould Co., Ltd. leased 2,450 square meters of factory space to Tianjin Xinyao Mould Co., Ltd. for an annual rent of 77,300 yuan[107] - Subsidiary Tianjin Tianqi Automobile Mould Co., Ltd. leased 620 square meters of factory space to Tianjin Jinnuo Electromechanical Equipment Installation Engineering Co., Ltd. for an annual rent of 19,200 yuan[107] - Subsidiary Anhui Tianqi Motongwei Body Technology Co., Ltd. leased 14,210.88 square meters of factory space to Anhui Hongyuanda Automobile Intelligent Technology Co., Ltd. for an annual rent of 2.