THEC(BJ:833509)2024-08-19 09:49Financial Performance - Operating revenue for the current period reached ¥86,112,800.18, an increase of 12.78% compared to ¥76,356,934.30 in the same period last year [19]. - Net profit attributable to shareholders was ¥18,860,881.46, reflecting a growth of 14.53% from ¥16,467,649.71 year-on-year [19]. - The net profit growth rate for the current period was 14.11%, compared to a decline of 29.01% in the same period last year [22]. - The company's gross profit margin declined to 55.58% from 58.87% year-on-year [19]. - The total operating revenue for the first half of 2024 reached ¥86,112,800.18, representing a year-on-year increase of 12.78% compared to ¥76,356,934.30 in the same period last year [32]. - The net profit for the period was ¥18,772,874.79, marking a 14.11% increase from ¥16,451,840.66 in the previous year [32]. - The total profit for the period was 20,604,912.67, up from 18,393,167.58 year-on-year, showing a growth of approximately 6.6% [187]. Cash Flow and Liquidity - The net cash flow from operating activities surged by 182.08%, amounting to ¥33,767,531.42 compared to ¥11,970,869.26 in the previous year [21]. - Cash flow from operating activities increased significantly by 182.08% to ¥33,767,531.42, driven by higher cash receipts from sales [38]. - Cash and cash equivalents increased to ¥52,382,934.46 from ¥46,495,462.36, a growth of approximately 4.05% [79]. - Cash and cash equivalents at the end of the period totaled CNY 52,382,934.46, up from CNY 61,375,180.76 at the end of the first half of 2023 [93]. - The company reported a significant increase in cash inflow from the redemption of financial products, amounting to 193,600,567.31 compared to 102,000,000.00 in the previous year [188]. Shareholder Returns - The company distributed a cash dividend of RMB 2.50 per 10 shares, amounting to 105% of the net profit for the period [2]. - The company completed its annual equity distribution for 2023 in May 2024 [2]. - The company paid out CNY 40,493,101.50 in dividends, compared to CNY 32,624,434.20 in the previous year, marking a significant increase [174]. - The company reported a profit distribution policy that allows for cash or stock dividends, with cash dividends not exceeding 10% of the total distributable profits [59]. Assets and Liabilities - Total assets decreased by 6.31% to ¥374,098,903.98 from ¥399,276,863.20 at the end of the previous period [20]. - The company's inventory decreased by 8.92% to 58.25 million RMB compared to the previous year [30]. - Total liabilities decreased from ¥55,206,265.66 to ¥50,274,943.49, a reduction of approximately 8.5% [82]. - The total amount of contract liabilities decreased to CNY 16,635,415.24 from CNY 17,883,784.75, indicating a decline of approximately 7% [166]. Research and Development - Research and development expenses amounted to 11.84 million RMB, representing an 8.97% increase year-on-year [27]. - The company is increasing R&D investment to develop new products and improve existing ones to enhance market competitiveness and sales revenue [46]. - Research and development expenses totaled CNY 11,842,304.47, an increase of 8.9% from CNY 10,867,177.96 in the same period last year [182]. Risk Management - The company has identified market competition risk due to the dominance of foreign competitors in the high-end electronic measurement instrument market [41]. - The company faces risks related to reliance on imported semiconductor chips, which are critical components in electronic measurement instruments, and is accelerating the development of domestic chip alternatives [45]. - The company has reported a significant risk of performance decline due to potential market demand shrinkage and increased competition, prompting a strategy to optimize product structure and focus on high-potential areas [45]. - The company maintains a focus on risk management, particularly in credit risk, liquidity risk, and market risk, to protect shareholder interests [199]. Corporate Governance - The company has not reported any significant changes in the scope of consolidated financial statements during the reporting period [40]. - The company has no significant litigation or arbitration matters during the reporting period, indicating a stable legal environment [48]. - The company has committed to minimizing related party transactions and has not engaged in any during the reporting period [63]. - The company’s board approved the proposal to grant reserved restricted stocks to core employees on September 14, 2023 [50]. Market Position and Strategy - The company aims to expand its market share and improve overall profitability by enhancing marketing strategies and leveraging its competitive advantages in technology and service [26]. - The company maintains a diversified sales model, including distributor, direct sales, ODM, and B2C models to enhance market reach [25]. - The company is actively involved in the power electronics sector, with multiple hardware engineers dedicated to this area [74]. Employee and Compensation - The company emphasizes employee rights protection, having established independent labor archives and social insurance accounts [42]. - The total compensation for employees listed in the report amounts to 984,825, with a total planned compensation of 1,550,000 [74]. - Total employees increased from 291 to 293, with a net addition of 26 employees during the period [76]. Financial Reporting and Compliance - The company has not reported any significant changes in accounting policies or estimates compared to the previous year's financial statements [104]. - The financial statements are prepared based on the principle of continuity of operations, adhering to the relevant accounting standards [110]. - The company confirmed that financial liabilities are categorized into four types, with detailed recognition and measurement criteria [113].