TFE(SH:600237)2020-08-25 16:00Financial Performance - The company's operating revenue for the first half of 2020 was ¥382,883,551.24, a decrease of 6.73% compared to ¥410,513,064.04 in the same period last year[21]. - The net profit attributable to shareholders of the listed company improved to -¥4,510,819.68, a 71.00% increase from -¥15,556,311.48 in the previous year[21]. - The net cash flow from operating activities was ¥51,338,569.54, down 21.78% from ¥65,636,312.33 in the same period last year[21]. - The total assets at the end of the reporting period were ¥1,692,602,066.14, a decrease of 3.59% from ¥1,755,589,865.20 at the end of the previous year[21]. - The net assets attributable to shareholders of the listed company were ¥1,091,896,410.46, a slight decrease of 0.41% from ¥1,096,407,230.14 at the end of the previous year[21]. - Basic earnings per share for the reporting period were -¥0.00799, an improvement of 71.01% compared to -¥0.02756 in the same period last year[22]. - The weighted average return on net assets increased to -0.41227%, up from -1.25740% in the previous year[22]. - The company's revenue for the first half of 2020 was CNY 38,288.36 million, a decrease of 6.73% year-on-year[29]. - The net profit attributable to shareholders was CNY -451.08 million, an increase of 71% year-on-year[29]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -1,333.72 million, an increase of 20.32% year-on-year[29]. - The company's operating costs decreased by 5.67% to CNY 325,949.73 million compared to the previous year[30]. - The net loss for the first half of 2020 was CNY 2,824,215.14, an improvement compared to a net loss of CNY 16,086,794.72 in the same period of 2019[90]. - The company reported a total comprehensive income decrease of RMB 5,337,000 for the current period[120]. - The total equity attributable to shareholders at the end of the reporting period was 1,131,394,765.5 CNY, down from 1,281,503,263.6 CNY at the end of the previous year, reflecting a decline of about 11.7%[110]. Cash Flow and Financing - The net cash flow from financing activities was -¥19,386,139.76 in the first half of 2020, an improvement from -¥50,315,920.05 in the first half of 2019[97]. - The net cash flow from operating activities for the first half of 2020 was ¥71,571,430.18, a significant increase from ¥10,134,427.53 in the same period of 2019, representing a growth of approximately 608.5%[99]. - The total cash inflow from financing activities decreased to ¥107,572,994.39 in the first half of 2020, down from ¥136,625,907.77 in the first half of 2019, reflecting a decline of about 21.3%[101]. - The net cash flow from investing activities was -¥2,531,817.47 for the first half of 2020, an improvement compared to -¥4,902,093.55 in the same period of 2019, indicating a reduction in cash outflow by approximately 48.7%[99]. - The cash inflow from sales of goods and services was ¥285,107,600.29 in the first half of 2020, down from ¥304,960,778.21 in the first half of 2019, a decrease of about 6.5%[99]. - The cash outflow for purchasing goods and services was ¥157,970,602.54 in the first half of 2020, significantly lower than ¥240,370,235.05 in the same period of 2019, representing a decrease of approximately 34.3%[99]. Assets and Liabilities - Current assets totaled ¥928,834,202.27, down from ¥967,046,784.55, indicating a decrease of about 3.9%[80]. - Total liabilities decreased to ¥561,207,300.57 from ¥621,370,884.49, a decline of approximately 9.7%[82]. - Current liabilities totaled ¥537,156,340.37, down from ¥591,692,544.76, indicating a decrease of about 9.2%[81]. - Non-current assets amounted to ¥763,767,863.87, down from ¥788,543,080.65, reflecting a decline of approximately 3.1%[81]. - The company reported a cash flow net decrease of ¥30,751,934.49 for the first half of 2020, compared to a decrease of ¥7,047,471.51 in the same period of 2019, indicating a worsening cash position[101]. Research and Development - Research and development expenses decreased by 23.13% to CNY 11,262.89 million compared to the previous year[30]. - Research and development expenses for the first half of 2020 were CNY 11,262,893.35, down 23.5% from CNY 14,652,499.75 in the first half of 2019[88]. - Research and development expenses decreased to ¥7,089,449.41 in the first half of 2020 from ¥13,745,354.84 in the first half of 2019, a reduction of 48.3%[92]. Environmental and Social Responsibility - The company has committed to poverty alleviation efforts, achieving a 100% poverty alleviation rate for 13 households in 2020[53]. - The company provided a total of 1.83 million in funds and 1.3212 million in material donations for poverty alleviation initiatives[55]. - A total of 273 impoverished individuals were helped to escape poverty during the reporting period[55]. - The company has constructed 10 sets of dust collection devices and 10 exhaust stacks to control particulate emissions from its manufacturing processes[61]. - The company has disposed of 10.45 tons of hazardous waste (HW13) during the first half of the year[60]. - The company has established 6 sets of activated carbon adsorption devices to manage volatile organic compound emissions[61]. - The company has maintained compliance with environmental protection laws and regulations for all construction projects[62]. Corporate Governance - The company did not distribute profits or increase capital from reserves during the reporting period[4]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[6]. - The company has provided a risk statement regarding forward-looking statements, emphasizing the importance of investor caution[5]. - The company has not proposed any profit distribution or capital reserve transfer plans for the half-year period[44]. - The company’s major related transactions during the reporting period have been disclosed in the financial report[48]. - The board of directors underwent changes, with new members elected on July 1, 2020, including the appointment of Tong Aijun as chairman[75]. - There were no significant lawsuits or arbitration matters reported during the reporting period[45]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period was 64,768[70]. - The largest shareholder, Anhui Tongfeng Electronics Group Co., Ltd., holds 94,561,280 shares, representing 16.76% of total shares, with all shares frozen[71]. - There were no changes in the number of preferred shareholders with voting rights as of the reporting period's end[70]. Accounting Policies - The company adheres to the accounting standards for enterprises, ensuring that financial reports reflect true and complete financial conditions[130]. - The accounting period for the company runs from January 1 to December 31 each year[131]. - The company's functional currency for accounting purposes is the Renminbi[133]. - The company measures identifiable assets and liabilities of the acquired entity at fair value on the acquisition date, recognizing goodwill if the acquisition cost exceeds the fair value of net identifiable assets[136]. - The company consolidates financial statements based on control, including subsidiaries determined by voting rights and contractual arrangements[138]. - The company recognizes deferred tax assets or liabilities for temporary differences arising from unrealized internal sales losses in the consolidated balance sheet[142]. Financial Instruments and Investments - Financial instruments are recognized when the company becomes a party to the contract, with specific conditions for derecognition[150]. - Financial assets are classified based on the company's management business model and cash flow characteristics, with specific measurement methods for each category[151]. - The company measures expected credit losses for financial instruments in different stages, with stage one reflecting no significant increase in credit risk and stage two indicating a significant increase[160]. - The company assesses the credit risk of financial instruments at each reporting date to determine the appropriate loss provisions[160]. - The company recognizes impairment losses for financial assets based on adverse events affecting expected future cash flows[165]. - The company uses observable inputs for fair value measurement, prioritizing market data to determine the fair value of financial assets and liabilities[182].