TFE(SH:600237)2022-08-19 16:00Financial Performance - The company's operating revenue for the first half of 2022 was approximately RMB 519.36 million, representing a 3.41% increase compared to RMB 502.23 million in the same period last year[21]. - The net profit attributable to shareholders for the first half of 2022 was approximately RMB 39.55 million, a 43.43% increase from RMB 27.58 million in the previous year[21]. - The net profit after deducting non-recurring gains and losses was approximately RMB 36.49 million, reflecting a 43.03% increase from RMB 25.51 million in the same period last year[21]. - The basic earnings per share for the first half of 2022 were RMB 0.0701, up 43.43% from RMB 0.0489 in the same period last year[21]. - The diluted earnings per share also stood at RMB 0.0701, reflecting the same percentage increase of 43.43% compared to the previous year[21]. - The weighted average return on net assets increased to 3.38%, up from 2.47% in the same period last year, an increase of 0.91 percentage points[21]. - The company reported a total profit of ¥38,469,290.99 for the first half of 2022, compared to ¥30,974,381.22 in the same period of 2021, an increase of 24.3%[88]. - Operating profit for the first half of 2022 was ¥35,881,369.41, up from ¥30,210,204.67, indicating a growth of 18.8%[88]. Cash Flow and Investments - The net cash flow from operating activities decreased by 44.63% to approximately RMB 33.45 million, down from RMB 60.42 million in the previous year[21]. - The company’s investment activities generated a net cash outflow of CNY 32.90 million, a decrease of 201.93% compared to the previous year[31]. - The net cash flow from operating activities for the first half of 2022 was ¥33,453,515.51, a decrease of 44.6% compared to ¥60,416,013.49 in the same period of 2021[95]. - The net cash flow from investing activities was -¥32,899,815.01, a significant decline from ¥32,275,968.86 in the first half of 2021[95]. Assets and Liabilities - The total assets at the end of the reporting period were approximately RMB 1.78 billion, an increase of 2.48% from RMB 1.74 billion at the end of the previous year[21]. - The total current assets as of June 30, 2022, amounted to RMB 1,073,838,629.09, an increase from RMB 1,027,992,183.47 at the beginning of the period, reflecting a growth of approximately 4.5%[79]. - The total amount of guarantees provided to subsidiaries during the reporting period is 11,285,000 RMB[65]. - The total liabilities amounted to CNY 542,610,910.21, slightly up from CNY 536,982,504.28, reflecting a growth of about 1.2%[81]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 47,153[68]. - The largest shareholder, Tongling Dajiang Investment Holding Co., Ltd., holds 111,705,979 shares, representing 19.79% of the total shares[70]. - The second-largest shareholder, China Construction Bank Corporation - Jiaoyin Shiluo De Alpha Core Mixed Securities Investment Fund, reduced its holdings by 6,135,640 shares, holding 14,024,989 shares, which is 2.49% of the total shares[70]. Expenses - Sales expenses rose by 30.01% to CNY 16.61 million, primarily due to increased sales activities[29]. - Management expenses increased by 40.84% to CNY 40.73 million, mainly driven by higher employee compensation[30]. - The company recorded a significant increase in management expenses, which rose to ¥40,731,829.48 from ¥28,920,241.86, reflecting an increase of 40.9%[87]. Environmental Compliance - The company has 12 dust particle emission outlets and 10 volatile organic compound emission outlets, all of which are compliant with environmental standards[48]. - The company achieved a chemical oxygen demand (COD) level of 150-199 mg/L, which is compliant with the discharge standards[47]. - The company constructed 12 sets of dust collection devices and 10 sets of activated carbon adsorption devices to control emissions, ensuring normal operation[50]. Legal Matters - The company has a civil lawsuit against Kunshan Longmeng Electronic Technology Co., Ltd. for 19.2588 million RMB, which is currently under court review[60]. Corporate Structure and Governance - The company has a total of 12 subsidiaries, with ownership stakes ranging from 61.74% to 100%[116]. - There were no significant changes in the board of directors or senior management during the reporting period[73]. - The company has undergone changes in control, with the controlling shareholder changing to Dajiang Investment in November 2020[113]. Research and Development - Research and development expenses increased to ¥16,728,795.46, up from ¥15,912,132.45, marking a rise of 5.1% year-over-year[87]. Financial Reporting and Accounting Policies - The company’s financial statements are prepared based on the assumption of going concern, with no identified issues affecting its ability to continue operations[118]. - The company adheres to the accounting standards set forth by the enterprise accounting principles, ensuring accurate reflection of financial status and results[120]. - The company recognizes expected credit losses based on the weighted average of credit losses for financial instruments, considering the risk of default[146].