TWH(SZ:002512)2024-08-30 10:09Financial Performance - The company's operating revenue for the first half of 2024 was ¥888,313,827.93, a decrease of 22.73% compared to ¥1,149,668,081.01 in the same period last year[11]. - The net profit attributable to shareholders was ¥2,066,150.89, down 79.88% from ¥10,268,157.05 year-on-year[11]. - The net cash flow from operating activities improved to -¥98,700,294.77, a 68.23% reduction in losses compared to -¥310,658,959.14 in the previous year[11]. - The total assets at the end of the reporting period were ¥4,234,367,940.04, reflecting a decrease of 4.17% from ¥4,418,707,276.21 at the end of the previous year[11]. - The basic earnings per share decreased to ¥0.0019, down 79.79% from ¥0.0094 in the same period last year[11]. - The company reported a significant increase in the net profit excluding non-recurring gains and losses, which improved by 91.23% to -¥3,697,367.41 from -¥42,178,330.32 year-on-year[11]. - The weighted average return on net assets was 0.45%, down from 1.35% in the previous year, indicating a decline in profitability[11]. - The company reported a net loss for the first half of 2024 of CNY 11,742,824.99, compared to a net loss of CNY 2,974,280.86 in the first half of 2023[89]. - The company reported a gross profit margin of approximately -6.4% for the first half of 2024, down from a positive margin in the previous year[88]. Revenue Breakdown - The company's total revenue for the reporting period was ¥888,313,827.93, a decrease of 22.73% compared to ¥1,149,668,081.01 in the same period last year[19]. - The revenue from the communication and electronic equipment manufacturing sector was ¥553,902,450.57, accounting for 62.35% of total revenue, down 15.21% year-on-year[20]. - The revenue from overseas sales increased by 194.68% to ¥241,594,018.96, while domestic sales decreased by 39.43% to ¥646,719,808.97[20]. - The software sector reported revenue of CNY 54,411,715.77, reflecting a significant decline of 86.71% year-over-year[21]. - The display device manufacturing sector experienced a remarkable revenue increase of 200.65%, totaling CNY 173,648,502.03[21]. Assets and Liabilities - The total assets at the end of the reporting period were ¥4,234,367,940.04, reflecting a decrease of 4.17% from ¥4,418,707,276.21 at the end of the previous year[11]. - The company's cash and cash equivalents decreased by 4.68%, totaling CNY 93,907,311.21 at the end of the reporting period[26]. - Accounts receivable increased to CNY 187,981,313.66, representing 4.44% of total assets, up from 2.89% the previous year[26]. - The total liabilities increased to CNY 2,224,429,230.50 from CNY 2,182,582,149.35, reflecting a rise in financial obligations[88]. - The total liabilities of the company have not been detailed in the provided documents, indicating a focus on equity and reserves in the financial reporting[110]. Cash Flow and Financing - The total cash flow from operating activities was negative CNY 98,700,294.77, improving from negative CNY 310,658,959.14 in the same period last year[93]. - The company raised CNY 449,410,000.00 from borrowings in the first half of 2024, compared to CNY 129,350,000.00 in the same period of 2023, indicating a significant increase in financing activities[94]. - The net cash flow from financing activities was -45,284,745.32 CNY, a decrease from 32,240,467.02 CNY in the previous period[96]. - The company reported a cash balance of CNY 93,907,311.21 at the end of the period, down from CNY 304,874,827.46 at the beginning[195]. Investment and Subsidiaries - The subsidiary Jinrui Xian reported a net profit of ¥10,933,211.67, contributing over 10% to the company's net profit[36]. - The subsidiary Xindongwang generated a net profit of ¥4,792,459.35, with total assets of ¥615,315,007.01[37]. - The subsidiary Haitiansilu experienced a net loss of ¥11,010,397.21, with total assets of ¥522,321,094.30[37]. - The subsidiary Fumi Technology reported a net loss of ¥22,787,919.87, with total assets of ¥2,647,938,717.23[38]. Governance and Management - The company has established a comprehensive governance structure and effective decision-making mechanisms to ensure stable development[18]. - The management highlighted potential risks and countermeasures in the report, emphasizing the need for investors to be aware of investment risks[1]. - The company faced liquidity risks and is enhancing internal management to address these challenges[40]. Research and Development - Research and development expenses were ¥52,556,820.75, a slight decrease of 1.20% from ¥53,194,841.84 in the previous year[19]. - The company is focusing on satellite communication products and new optoelectronic display materials, which require a multidisciplinary R&D team[41]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares for this reporting period[1]. - The company held its first extraordinary shareholders' meeting of 2024 on January 16, with a participation rate of 14.10%[43]. - The total number of ordinary shareholders at the end of the reporting period is 83,985, with major shareholders holding over 5% of shares[73]. Accounting Policies - The financial statements are prepared based on the assumption of going concern, indicating the company has at least 12 months of operational capability from the reporting date[114]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that its financial reports accurately reflect its financial position and performance[115]. - The company has not made any significant changes in accounting policies or prior period corrections during the current reporting period[108]. Related Party Transactions - The total amount of related party transactions for the first half of 2024 reached 119.32 million yuan, with a total approved transaction limit of 1.1028 billion yuan[56]. - The company purchased raw materials from Hengmei Optoelectronics and its subsidiaries for 60.6462 million yuan, accounting for 6.81% of similar transactions[55]. - The company provided software technology services to Hengmei Optoelectronics for 756,900 yuan, which is 16.82% of similar transactions[55].