TKD(SH:603738)2023-08-30 16:00Financial Performance - The company's operating revenue for the first half of 2023 was ¥385,454,366.71, a decrease of 26.60% compared to ¥525,168,244.33 in the same period last year[23]. - The net profit attributable to shareholders of the listed company was ¥47,086,612.36, down 65.30% from ¥135,697,474.89 in the previous year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥37,820,541.08, a decrease of 64.97% compared to ¥107,967,496.51 in the same period last year[23]. - The net cash flow from operating activities was ¥169,694,719.58, down 8.58% from ¥185,613,661.07 in the previous year[23]. - Basic earnings per share decreased by 81.54% to CNY 0.12 compared to the same period last year[24]. - Diluted earnings per share fell by 81.25% to CNY 0.12 year-on-year[25]. - The weighted average return on equity dropped by 5.68 percentage points to 2.56%[24]. - The company reported a net profit attributable to the parent company of ¥47.0866 million, down 65.30% year-on-year, while the net profit after deducting non-recurring gains and losses was ¥37.8205 million, a decrease of 64.97%[48]. - In Q2 2023, the company reported operating revenue of 210.0431 million yuan, a quarter-on-quarter increase of 19.74%, with net profit attributable to the parent company and net profit after non-recurring gains and losses rising by 46.29% and 54.64% respectively[48]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,079,519,500.96, an increase of 0.80% from ¥2,063,013,117.01 at the end of the previous year[23]. - The net assets attributable to shareholders at the end of the reporting period were ¥1,796,869,092.78, a slight decrease of 0.34% from ¥1,803,000,368.15 at the end of the previous year[23]. - The company's total liabilities increased to RMB 265,202,153.54 from RMB 243,836,686.85, representing an increase of about 8.5%[130]. - The company's total current assets decreased to RMB 825,449,338.41 as of June 30, 2023, from RMB 921,434,095.74 at the end of 2022, a decline of 10.4%[132]. - The company's long-term equity investments increased to RMB 13,294,502.78 from RMB 10,542,058.81, an increase of approximately 26.3%[129]. Research and Development - The company is focusing on high-end product innovation, including miniaturization and high stability, to enhance market competitiveness[32]. - The company aims to enhance its production capabilities and meet the quality requirements of major clients through ongoing R&D investments[32]. - Research and development expenses decreased significantly by 35.64% to approximately 19.25 million, attributed to the conclusion of certain R&D projects[54]. - The company has developed high-frequency quartz chips with processing capabilities of up to 300MHz and has achieved mass production of ultra-high frequency products[50]. - The company has successfully developed and industrialized quartz MEMS devices, establishing a technological foundation for the mass production of micro-sized and high-frequency crystal resonators[35]. Market and Industry Outlook - The quartz crystal frequency component industry is expected to grow due to advancements in 5G technology and the expansion of application scenarios[31]. - The market opportunities for quartz crystal components are expected to increase significantly with the rise of IoT and smart manufacturing[34]. - The Chinese government is providing policy support to boost the development of electronic components, which will benefit the quartz crystal frequency component industry[33]. - The company is focusing on expanding into emerging markets such as industrial and automotive electronics, adapting to changes in end-market demand[48]. Environmental and Social Responsibility - The company has established comprehensive pollution prevention facilities and has maintained normal operation and compliance with discharge standards during the reporting period[78]. - The company has implemented measures to reduce carbon emissions, including the development of low-power crystal oscillators and the installation of photovoltaic power generation systems[83]. - The company has achieved ISO 14001:2015 environmental management system certification and conducts annual third-party audits[83]. - The company encourages employees to use public transportation and electric vehicles to reduce carbon footprint[83]. - The company has provided financial support to registered impoverished employees, including waiving accommodation and utility fees, and offering monthly living subsidies[85]. Corporate Governance and Shareholder Commitments - The company’s major shareholders have committed to not reducing their holdings for three years post-IPO, with specific conditions for any future sales[89]. - The company’s board and senior management have pledged to uphold shareholder interests and adhere to regulatory requirements regarding compensation and benefits[92]. - The company has established measures to ensure compliance with commitments related to share repurchase and compensation for any potential losses due to regulatory violations[92]. - The company’s commitments are designed to protect shareholder interests and ensure compliance with regulatory standards[92]. - The company has committed to maintaining a robust corporate governance structure to ensure compliance with laws and protect shareholder rights[97]. Legal and Compliance Matters - The company has no significant litigation or arbitration matters during the reporting period[101]. - The company filed a lawsuit against Shenzhen Penghe in February 2023 for unpaid debts, with no payments received as of the report date[102]. - The company has initiated legal proceedings to recover performance compensation payments that have not been made by the performance commitment parties, with no payments received as of the report date[102]. Financial Reporting and Accounting Policies - The company’s financial statements are prepared based on the going concern assumption, with no significant doubts regarding its ability to continue operations[161]. - The company has implemented specific accounting policies for financial asset impairment and other transactions, in accordance with relevant accounting standards[162]. - The company recognizes impairment losses based on expected credit losses for financial assets measured at amortized cost and debt instruments measured at fair value, including receivables and debt investments[194]. - The company ensures that foreign currency translation differences are recognized in other comprehensive income or profit or loss upon disposal of foreign operations[182].