THEC(BJ:833509)2022-08-22 16:00Company Performance - The company's operating revenue for the first half of 2022 was CNY 82,597,702.57, representing a 26.83% increase compared to CNY 65,124,166.50 in the same period last year [26]. - The net profit attributable to shareholders was CNY 23,278,326.03, which is a 14.01% increase from CNY 20,417,010.48 year-on-year [26]. - The gross profit margin decreased to 53.48% from 56.23% in the previous year [26]. - The total assets decreased by 6.98% to CNY 347,376,530.29 from CNY 373,454,878.05 at the end of the previous year [27]. - The total liabilities decreased significantly by 26.28% to CNY 54,749,026.41 from CNY 74,266,167.43 [27]. - The company reported a negative net cash flow from operating activities of CNY -1,628,546.57, a decline of 115.00% compared to CNY 10,858,033.56 in the previous year [28]. - The company’s basic earnings per share increased by 15.79% to CNY 0.22 from CNY 0.19 [26]. - The company achieved total revenue of ¥82,597,702.57, representing a year-on-year growth of 26.83% [41]. - Net profit attributable to shareholders was ¥23,278,326.03, with a year-on-year increase of 14.01% [41]. - Basic earnings per share rose to ¥0.22, reflecting a growth of 15.79% compared to the previous year [41]. Financial Position - The company's total assets at the end of the reporting period were ¥347,376,530.29, a decrease of 6.98% from the beginning of the year [41]. - The company's cash and cash equivalents increased by 23.21% to ¥62,720,256.89, accounting for 18.06% of total assets [45]. - Trade financial assets decreased by 44.92% to ¥65,000,000.00, representing 18.71% of total assets [45]. - Inventory increased by 31.54% to ¥69,808,211.97, which is 20.10% of total assets [45]. - The company's total liabilities decreased from CNY 74,106,207.97 to CNY 53,768,970.86, a reduction of approximately 27.5% [159]. - The total equity attributable to shareholders at the end of the reporting period is CNY 293,434,028.94, with a decrease of CNY 4,863,663.58 during the period [186]. Research and Development - The company focuses on the development of electronic measurement instruments, particularly in the field of precision impedance measurement, with over 20 years of experience [32]. - Research and development expenses increased by 7.45% to CNY 7,900,995.87, indicating ongoing investment in new technologies [50]. - The company emphasizes the importance of strong technical capabilities in the electronic measurement instrument industry and will enhance R&D management and talent acquisition to stay competitive [77]. - The company is committed to increasing R&D investment to achieve breakthroughs in high-end products and scale in mid-range products, aiming for domestic substitution and improved profitability [80]. Market and Competition - The company faces risks from intensified market competition, particularly in the high-end electronic measurement instruments sector, which is dominated by companies from the US, Germany, and Japan [11]. - The company emphasizes the need for timely technological updates and product development to avoid losing customers to foreign competitors [12]. - The electronic measurement instrument market in China is expected to exceed ¥400 billion by 2025, driven by policy support and rapid development of downstream industries [43]. - The company is focusing on technology innovation and market expansion to mitigate risks from intensified market competition and reliance on imported core components [71][73]. Cash Flow and Investments - The net cash flow from investing activities for the current period is 43,189,053.59, an increase of 147.55% compared to the previous period of -90,827,637.96 [59]. - The company reported cash investments totaling ¥155.5 million in government bond reverse repos on June 28, 2022 [90]. - The company has utilized idle self-owned funds for wealth management, including structured deposits and financial products, to enhance investment returns [91]. - The company has made cash investments of ¥10 million in various structured deposits throughout the first half of 2022 [89]. Social Responsibility - The company has committed to social responsibility by donating 100,000 to local pandemic prevention efforts and ensuring no layoffs or salary cuts during the pandemic [67]. - The ongoing COVID-19 pandemic may adversely affect the company's performance if domestic outbreaks recur, prompting the company to adopt flexible work arrangements to minimize production impacts [75]. Shareholder and Stock Management - The company has committed to stabilizing its stock price, with ongoing obligations set to end in January 2024 [92]. - The company will implement measures to prevent technology leaks and personnel turnover, which could adversely affect R&D capabilities and operational performance [79]. - The company has outlined specific conditions under which the stock price stabilization measures will be activated and terminated [97]. - The company will ensure that raised funds are used in a regulated, safe, and efficient manner, adhering to relevant laws and regulations [105]. Legal and Compliance - The company has not reported any significant litigation or arbitration matters during the reporting period, ensuring a stable legal environment for operations [87]. - The company has not engaged in any significant related party transactions or external guarantees, maintaining financial integrity [86]. - The company has committed to not repurchasing shares during the extended lock-up period [95].