Tstc(SH:600552)2017-08-25 16:00Financial Performance - The company's operating revenue for the first half of 2017 was ¥1,566,966,476.72, representing a 50.90% increase compared to ¥1,038,383,416.38 in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2017 was ¥35,172,972.65, a 26.49% increase from ¥27,806,827.44 in the previous year[17]. - The net cash flow from operating activities increased by 173.45%, reaching ¥12,462,414.17 compared to ¥4,557,474.06 in the same period last year[17]. - Operating profit for the first half of 2017 was 4,588.70 million yuan, up 35.39% from 3,389.36 million yuan year-on-year[30]. - Net profit reached 4,352.04 million yuan, reflecting a year-on-year growth of 23.50% from 3,523.97 million yuan[30]. - Basic earnings per share for the first half of 2017 was ¥0.0459, up 26.45% from ¥0.0363 in the same period last year[18]. - The weighted average return on net assets increased by 0.27 percentage points to 1.49% compared to 1.22% in the previous year[18]. Assets and Liabilities - The total assets at the end of the reporting period were ¥5,417,005,317.34, an 11.16% increase from ¥4,873,144,925.47 at the end of the previous year[17]. - Total liabilities increased to ¥2,954,783,778.81, compared to ¥2,403,521,328.77 at the beginning of the year, reflecting a 23% rise[85]. - The total current assets amounted to RMB 3,476,615,005.47, compared to RMB 2,926,266,751.76 at the beginning of the period, marking an increase of approximately 19%[81]. - The cash balance at the end of the period was ¥575,247,920.00, reflecting a 50.55% increase from ¥382,086,317.23 at the end of the previous period[31]. - The total assets of the company reached RMB 5,417,005,317.34, an increase from RMB 4,873,144,925.47 at the beginning of the period[80]. Market Position and Segments - The company operates in two main business segments: electronic information display and new materials, with products including capacitive touch screens and TFT-LCD glass thinning[21]. - The company maintained a 55% market share in the domestic electric melting zirconia industry, solidifying its position as an industry leader[24]. - Sales revenue for the mobile cover glass segment increased by 180% year-on-year, with production volume and market share also rising[28]. - The company’s electronic information display segment achieved a global market share of 15% in the flat panel market during the first half of 2017[28]. Cash Flow and Investments - The net increase in cash and cash equivalents was ¥222,678,790.78, a turnaround from a decrease of ¥418,604,195.22 in the previous year, marking a 153.20% improvement[31]. - Cash inflow from investment activities totaled ¥121,475,856.31, up from ¥87,179,327.68, indicating a growth of approximately 39.4%[91]. - Cash outflow for investment activities rose to ¥192,293,793.64 from ¥169,812,675.36, resulting in a net cash flow from investment activities of -¥70,817,937.33, an improvement from -¥82,633,347.68[91]. - Cash inflow from financing activities increased to ¥1,636,951,952.61, compared to ¥893,970,483.47, reflecting a growth of approximately 83.1%[91]. Risk Management - The company has no significant risks reported for the current period[5]. - The company has implemented strict risk management policies to mitigate accounts receivable risks[45]. - The company has faced significant sales pressure due to long account periods and intense market competition, leading to increased bad debt provisions[45]. Shareholder Information - The number of ordinary shareholders reached 27,844 by the end of the reporting period[69]. - The number of shares held by the top shareholder, Anhui Huaguang Optoelectronic Material Technology Group Co., Ltd., increased to 166,755,932 shares, representing 21.74% of the total shares[70]. - The company reported a total of 767,049,572 shares after a capital increase from reserves, doubling the previous total of 383,524,786 shares[67]. Accounting Policies - The company’s financial statements are prepared based on the going concern principle, adhering to the accounting standards set by the Ministry of Finance[112][113]. - The company applies the accounting treatment for business combinations under common control by measuring the acquired assets and liabilities at their book value in the consolidated financial statements[117]. - The company recognizes significant receivables individually for impairment testing if their balance reaches 2 million yuan or more, with provisions made based on expected future cash flows[127]. Taxation - The company benefits from tax incentives as a high-tech enterprise, allowing it to pay a reduced corporate income tax rate of 15%[181]. - The company has a corporate income tax rate of 15% for several subsidiaries, including Kaisheng Technology Co., Ltd. and Anhui Bengbu Huayi Conductive Film Glass Co., Ltd.[180][181][182][183][186]. Subsidiaries and Acquisitions - The company has a diverse range of subsidiaries, including 安徽省蚌埠华益导电膜玻璃有限公司 and 蚌埠中恒新材料科技有限责任公司, which contribute to its operational capabilities[111]. - The company acquired an additional 2.81% stake in its subsidiary Huayi Company for ¥12,570,000, making it a wholly-owned subsidiary[40].