TKD(SH:603738)2021-08-30 16:00Financial Performance - The net profit attributable to the parent company's shareholders for the first half of 2021 was ¥95,500,999.41, with cumulative undistributed profits reaching ¥196,652,875.17 as of June 30, 2021[4]. - The company's operating revenue for the first half of 2021 was CNY 563,353,073.22, representing a year-on-year increase of 131.37% compared to CNY 243,484,404.81 in the same period last year[21]. - The net profit attributable to shareholders of the listed company reached CNY 95,500,999.41, a significant increase of 1,725.80% from CNY 5,230,634.40 in the previous year[21]. - The net cash flow from operating activities increased by 516.95% to CNY 113,869,844.17, up from CNY 18,456,809.53 in the same period last year[21]. - Basic earnings per share rose to CNY 0.55, reflecting a growth of 1,733.33% compared to CNY 0.03 in the previous year[22]. - The comprehensive gross profit margin improved to 34.25%, up from 20.01% in the same period last year, an increase of 14.24%[76]. - The company achieved a total production of 1.649 billion units and a main business revenue of 504 million yuan in the first half of 2021, with a quarter-on-quarter revenue growth of 37.72% in Q2[50]. Dividend and Shareholder Returns - The proposed cash dividend distribution is ¥3.00 per 10 shares (including tax), with no bonus shares or capital reserve conversion into share capital planned[4]. - The company has established a three-year dividend return plan (2020-2022) to optimize its dividend policy and enhance shareholder returns[129]. - The company plans to distribute a cash dividend of 3.00 CNY per 10 shares (including tax) for the first half of 2021, without issuing bonus shares or increasing capital from reserves[109]. Corporate Governance and Management - The board of directors and management confirm the authenticity, accuracy, and completeness of the semi-annual report, with no false records or major omissions[7]. - The company has appointed new executives, including Wang Jintao as General Manager and Huang Xiaohui as Deputy General Manager, as part of its management restructuring[108]. - The fourth supervisory board, elected on May 7, 2021, will serve a three-year term, consisting of both employee and shareholder representatives[107]. - The company has committed to improving its corporate governance structure and internal control systems to protect shareholder rights and ensure compliance with legal regulations[129]. Research and Development - The company invested 24.64 million yuan in R&D, accounting for 4.37% of operating revenue, focusing on quartz chip technology and semiconductor photolithography processes[78]. - The company has accumulated 117 patents, including 12 invention patents, and has been involved in drafting national electronic industry standards[67]. - The company is focused on enhancing its market competitiveness and sustainable profitability to maximize shareholder investment value[129]. Market Trends and Industry Position - The company operates in the piezoelectric crystal industry, which is subject to various operational risks that are detailed in the report[7]. - The mobile terminal market is experiencing growth, with 5G smartphone shipments reaching 151 million units in the first seven months of 2021, a 94.3% year-on-year increase, accounting for 74.3% of total smartphone shipments[37]. - The automotive electronics market is projected to grow significantly, with the market size expected to reach $148.6 billion by 2026, driven by the increasing penetration of automotive electronics[39]. - The global TWS earphone market is expected to grow from over 250 million units in 2020 to over 500 million units by 2024, with a CAGR of 19.8% from 2020 to 2025, benefiting the electronic components industry[40]. Environmental and Social Responsibility - The company has implemented measures to reduce carbon emissions, including setting air conditioning temperatures to comply with national standards, effectively controlling electricity consumption[116]. - The company donated 20,000 CNY to support poverty alleviation efforts and provided additional living subsidies to impoverished employees[117]. - The company has achieved ISO 14001:2015 environmental management system certification and conducts annual third-party audits[115]. Risks and Challenges - The company faces risks related to technology research and development, particularly in adapting to market trends and ensuring product quality[96]. - The company is subject to risks from potential changes in tax incentives and subsidies related to its high-tech enterprise status[99]. - The company's overseas sales accounted for 15.75% of total revenue, exposing it to foreign exchange risks due to reliance on USD and JPY[101]. Financial Position and Assets - The company's total assets increased by 9.82% to CNY 1,513,543,874.48 from CNY 1,378,222,891.78 at the end of the previous year[21]. - The company's net assets attributable to shareholders reached CNY 898,479,064.00, marking a 10.43% increase from CNY 813,632,909.77 at the end of the previous year[21]. - The total liabilities increased to CNY 603.23 million, up from CNY 480.92 million, representing a growth of approximately 25.4% year-over-year[155]. Production and Capacity Expansion - The company has completed the second phase of the MEMS micro-nano lithography workshop, enhancing production capacity for high-value-added products such as kHz and MHz resonators[54]. - The company has established a complete quartz wafer production line, enabling large-scale production of high-end products and improving the performance of crystal oscillators[55]. - The company is leveraging technological innovation and domestic substitution trends to meet the increasing demand in the electronics components industry driven by 5G and IoT applications[50].