ELECSPN(SZ:002935)2021-08-19 16:00Financial Performance - The company's operating revenue for the first half of 2021 was ¥366,056,096.69, representing a 27.30% increase compared to ¥287,546,698.55 in the same period last year[26]. - The net profit attributable to shareholders for the first half of 2021 was ¥34,159,020.45, a 36.40% increase from ¥25,043,348.93 in the previous year[26]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥30,945,763.95, which is a 77.10% increase compared to ¥17,473,499.94 in the same period last year[26]. - The basic earnings per share for the first half of 2021 was ¥0.1642, up 36.38% from ¥0.1204 in the previous year[26]. - The total assets at the end of the reporting period were ¥1,955,973,257.95, reflecting a 6.94% increase from ¥1,829,064,435.12 at the end of the previous year[26]. - The net assets attributable to shareholders at the end of the reporting period were ¥1,328,642,059.10, a decrease of 1.33% from ¥1,346,484,663.65 at the end of the previous year[26]. - The net cash flow from operating activities was -¥85,318,091.45, an improvement of 53.73% compared to -¥184,403,268.75 in the same period last year[26]. - The weighted average return on net assets was 2.51%, an increase of 0.55% from 1.96% in the previous year[26]. Research and Development - R&D investment amounted to 32.21 million yuan, a slight increase of 0.78% compared to the previous year[44]. - The company has a strong focus on R&D, holding multiple patents and core technologies, which supports its position as a high-tech enterprise[36]. - The company has obtained 4 patent authorizations and registered 1 software copyright during the reporting period[44]. - The company has a total of 99 patents, including 56 invention patents, showcasing its strong technical capabilities[46]. - The company has established joint laboratories with the Chinese Academy of Sciences and Beijing University of Aeronautics and Astronautics for advanced research in atomic clock technology[46]. Market and Product Development - The company specializes in time frequency products and BeiDou satellite application products, with a complete product line that includes atomic clocks and frequency components, serving sectors like aerospace and defense[36]. - The company has launched multiple new civilian market products, enhancing its competitive strength in the consumer sector, particularly in BeiDou satellite watches[40]. - The revenue from Beidou satellite application products surged by 119.69% to ¥4,171,266.25, compared to ¥1,898,682.63 in the previous year[53]. - The company is focusing on expanding its military product market, achieving growth across various product units during the reporting period[56]. - The company is actively involved in the construction and demonstration of the BeiDou meteorological emergency communication system in several provinces, including Shanxi and Sichuan[40]. Financial Position and Cash Flow - The total liabilities amounted to CNY 627,331,198.85 as of June 30, 2021, compared to CNY 482,579,771.47 at the end of 2020, reflecting an increase of approximately 30.1%[177]. - The cash and cash equivalents decreased by 9.88% to ¥217,234,315.37 from ¥383,898,677.15, primarily due to cash dividends and material purchases[58]. - The company reported a significant increase in accounts receivable, which rose to ¥524,820,741.28, accounting for 26.83% of total assets, up from 21.81%[58]. - The net cash flow from financing activities was -$52.35 million, compared to -$80.02 million in the previous period[193]. - The ending balance of cash and cash equivalents was $216.14 million, down from $254.52 million in the previous period[193]. Risk Management - The company emphasizes the importance of risk awareness regarding market, technology, talent, and operational risks due to its involvement in military products[6]. - The company has identified talent risk as a critical issue, emphasizing the need to attract high-level R&D personnel to maintain its technological edge[74]. - The company is facing market risks due to increasing competition in the high-precision timing system sector, driven by national infrastructure projects[74]. - The company has experienced delays in its fundraising projects due to construction complexities and the impact of COVID-19, which may affect production capacity and delivery[74]. - The company is committed to strict pandemic prevention measures to mitigate potential impacts on product delivery and overall operations[76]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 20,287[139]. - China Electronics Technology Group Corporation holds 43.30% of the shares, totaling 90,067,926 shares[139]. - The total number of shares held by the top 10 shareholders includes significant stakes from state-owned and other institutional investors[142]. - The total number of shares held by directors and senior management at the end of the reporting period was 10,903,353 shares[154]. - The company did not experience any changes in its controlling shareholder during the reporting period[154]. Corporate Governance - The company actively manages investor relations and conducted a performance briefing for the 2020 fiscal year, engaging with institutional investors[88]. - The company has established a comprehensive employee rights protection system, ensuring compliance with labor laws and enhancing employee satisfaction[88]. - There were no significant lawsuits or arbitration matters during the reporting period[99]. - The company has no non-operating fund occupation by controlling shareholders or related parties[93]. - The semi-annual financial report has not been audited[95].