TECHSEM(SZ:300046)2017-07-24 16:00Financial Performance - Total revenue for the first half of 2017 reached ¥141,785,949.11, representing a 65.12% increase compared to ¥85,870,111.90 in the same period last year[21]. - Net profit attributable to shareholders was ¥26,997,991.80, a significant increase of 163.16% from ¥10,259,342.20 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was ¥26,512,298.53, up 233.75% from ¥7,943,844.19 year-on-year[21]. - The net cash flow from operating activities was ¥53,344,582.29, an increase of 121.68% compared to ¥24,063,316.91 in the same period last year[21]. - Basic earnings per share rose to ¥0.1900, a 163.16% increase from ¥0.0722 in the previous year[21]. - The total profit amounted to 30.11 million yuan, with a year-on-year increase of 144.33%[37]. - The company achieved a revenue of 141.79 million yuan, representing a year-on-year growth of 65.12%[37]. - Operating profit increased by 150.09% to ¥29,538,826.74 from ¥11,811,491.22, mainly attributed to the contribution from Bihanchuntian[42]. - Net profit surged by 163.16% to ¥26,997,991.80 from ¥10,259,342.20, driven by the performance of Bihanchuntian[42]. - Cash flow from operating activities improved significantly, reaching ¥53,344,582.29, a 121.68% increase from ¥24,063,316.91, due to higher cash receipts from sales[42]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,025,716,341.88, a decrease of 2.44% from ¥1,051,359,063.55 at the end of the previous year[21]. - Accounts receivable increased by 36.73 million yuan, a growth of 71.45% compared to the beginning of the period[33]. - Prepayments increased by 8.91 million yuan, a growth of 297.54% compared to the beginning of the period[33]. - The company's cash and cash equivalents decreased from ¥315,684,954.60 to ¥304,421,807.17, a decline of approximately 3.99%[125]. - Total liabilities decreased from ¥259,294,047.09 to ¥213,757,333.62, a reduction of approximately 17.54%[127]. - The total assets decreased from ¥1,051,359,063.55 to ¥1,025,716,341.88, a decline of about 2.44%[126]. Research and Development - The company plans to enhance its research and development capabilities to keep pace with rapid technological advancements in the power semiconductor industry[7]. - Research and development expenses rose by 11.63% to ¥4,992,518.35 from ¥4,472,253.00, reflecting the company's commitment to innovation[42]. Strategic Initiatives - The company is pursuing an external acquisition strategy to enter the pan-cultural sector, aiming to mitigate risks associated with economic cycles[6]. - The company completed the acquisition of 100% of Bihanchuntian in June 2016, which positively impacted the financial performance by adding a new business segment[43]. - The company plans to integrate with Bi'an Spring to ensure the stable and rapid development of its dual main business strategy, addressing potential cultural and operational differences[67]. Market Conditions - The company is facing intense competition in the power semiconductor industry, with market demand declining and overcapacity issues, prompting a focus on new device R&D and high-end customer development to stabilize and increase market share[66]. - The company reported that the semiconductor market demand is weak, leading to underperformance in expected sales and benefits from fundraising projects[56]. Compliance and Governance - The financial statements were approved by the board on July 24, 2017, indicating a structured governance process[161]. - The company emphasizes compliance with relevant laws and regulations regarding related party transactions[75]. - The company has a structured approach to risk management, addressing integration risks and core talent retention strategies[66]. Shareholder Information - The total number of shares after the recent changes is 142,080,000, with 5,175,000 shares being reduced due to the lifting of restrictions on shares held by the controlling shareholder[105]. - The largest shareholder, Xiangyang Xinyiyuan Semiconductor Co., Ltd., holds 40.02% of the shares, totaling 56,860,000 shares[109]. - The company reported a total of 9,831 shareholders at the end of the reporting period[109]. Investment and Financing - The total amount of funds raised by the company is 58,805.3 million yuan, with 5,593.13 million yuan invested during the reporting period[54]. - The company has invested 25,969.73 million yuan out of a planned total investment of 26,500 million yuan in its fundraising projects, achieving 98.00% of the planned investment[56]. - The company incurred a net cash outflow from investing activities of ¥57,618,015.45, compared to a larger outflow of ¥93,907,583.04 in the previous period[141]. Legal and Regulatory Matters - The company has not conducted any significant litigation or arbitration matters during the reporting period[80]. - The company received a second feedback notice from the China Securities Regulatory Commission (CSRC) on July 19, 2017, requiring a written response within 30 working days[100]. Environmental and Social Responsibility - The company has not engaged in any major environmental protection issues and is not listed as a key pollutant discharge unit[96]. - The company has not conducted any poverty alleviation work or has plans for future initiatives[95].