Financial Performance - For the six months ended June 30, 2021, China Titans Energy Technology Group recorded revenue of approximately RMB 132,664,000, an increase of about 18.63% compared to the same period last year[18]. - The company reported a loss attributable to owners of approximately RMB 9,504,000, a decrease of about RMB 7,077,000 compared to a loss of RMB 16,581,000 in the previous year[18]. - The company reported a net loss of RMB 10,036,000 for the six months ended June 30, 2021, compared to a net loss of RMB 17,144,000 in the prior year, reflecting a reduction in losses[67]. - The group reported a loss before tax of RMB (11,205) thousand for the six months ended June 30, 2021, compared to a loss of RMB (19,341) thousand in the previous year, indicating an improvement in financial performance[86]. - The basic and diluted loss per share for the six months ended June 30, 2021, was RMB 1.03, compared to RMB 1.79 in the same period of 2020[69]. Revenue Breakdown - Revenue from electric vehicle charging equipment reached approximately RMB 70,725,000, representing a growth of about 30.12% year-on-year[21]. - The sales of electric vehicle charging services increased by approximately 55.44%, totaling around RMB 12,481,000 for the reporting period[22]. - The total revenue for the first half of 2021 was approximately RMB 132,664,000, representing an 18.63% increase compared to RMB 111,827,000 in the same period of 2020[30]. - Total revenue for the six months ended June 30, 2021, was RMB 132,664 thousand, with segment revenues of RMB 49,217 thousand from DC systems, RMB 70,725 thousand from charging equipment, and RMB 12,481 thousand from charging services[85]. Cost and Profitability - The gross profit increased from approximately RMB 32,470,000 in 2020 to about RMB 44,025,000 in 2021, marking a substantial increase[32]. - The overall gross margin improved from approximately 29.04% in 2020 to about 33.19% in 2021[35]. - The gross margin for electric vehicle charging equipment rose by approximately 7.14% compared to the same period last year[36]. Operational Metrics - The domestic production and sales of new energy vehicles increased significantly, with a year-on-year growth of 134.9% in production and 139.3% in sales by the end of June 2021[24]. - The penetration rate of new energy vehicles rose from 5.4% at the beginning of the year to 9.4% by June 2021[24]. - The number of public charging infrastructure increased by 176% year-on-year, with a total of 26.6 million new charging facilities added in the first half of 2021[24]. Expenses and Liabilities - Administrative expenses increased by approximately 19.27% from RMB 26,106,000 to RMB 31,139,000 for the six months ended June 30, 2021[39]. - Financial costs increased by approximately 53.16% from RMB 3,309,000 to RMB 5,068,000 for the six months ended June 30, 2021, representing an increase in percentage of revenue from 2.96% to 3.82%[42]. - Current liabilities rose from RMB 254,706,000 to RMB 259,409,000, an increase of 1.8%[71]. Cash Flow and Assets - As of June 30, 2021, the group had cash and cash equivalents of approximately RMB 60,144,000, down from RMB 72,803,000 as of December 31, 2020[49]. - The company’s cash and cash equivalents increased from RMB 45,303,000 to RMB 60,144,000, an increase of 32.8%[70]. - The total assets as of June 30, 2021, amounted to RMB 555,517,000, compared to RMB 549,081,000 as of December 31, 2020, reflecting a slight increase of 1.6%[70]. Strategic Plans and Market Opportunities - The company anticipates new development opportunities in electric vehicle charging and DC power products due to the government's focus on energy conservation and emissions reduction[24]. - The company plans to explore development opportunities in the new energy market while continuing to implement its main business operations in the second half of 2021[61]. - The company aims to optimize existing battery swapping products and expedite the market launch of heavy-duty vehicle battery swapping and shore power products[62]. Shareholder Information - A total of 37,980,000 stock options were granted to directors and employees in July 2021 to incentivize performance and align interests with corporate goals[63]. - The company has not declared an interim dividend for the six months ended June 30, 2021, consistent with the previous year[64]. - The company’s executive directors held a total of 205,709,875 shares, representing approximately 22.24% of the issued shares as of June 30, 2021[114].
泰坦能源技术(02188) - 2021 - 中期财报