TKRT(SH:688569)2021-08-26 16:00Financial Performance - The company reported a significant increase in revenue for the first half of 2021, with a year-on-year growth of 25%[3]. - The company's operating revenue for the first half of 2021 was CNY 402,258,531.76, a decrease of 24.85% compared to CNY 535,305,872.68 in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2021 was CNY 36,581,432.84, down 35.53% from CNY 56,743,001.15 in the previous year[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 32,994,781.59, a decline of 40.74% compared to CNY 55,682,320.23 in the same period last year[17]. - The net cash flow from operating activities for the first half of 2021 was CNY -93,417,620.62, compared to CNY 182,164,973.82 in the previous year, indicating a significant change[17]. - The company achieved a net profit of 51.12 million yuan for the first half of 2021, down 39.56% year-on-year, with net profit attributable to the parent company at 36.58 million yuan, a decline of 35.53%[108]. - The company reported a total comprehensive income of CNY 51,117,259.39 for the first half of 2021, down 39.4% from CNY 84,574,126.99 in the same period of 2020[198]. Market Expansion and Strategy - The company is expanding its market presence, targeting new regions with a projected market share increase of 10% by the end of 2021[3]. - The company is actively expanding its urban rail market, focusing on cities like Beijing, Shenzhen, Nanjing, and Xi'an to secure more orders[97]. - The company is also pushing to develop its overseas high-speed rail market, ensuring compliance with COVID-19 prevention measures while executing projects like the Jakarta-Bandung high-speed rail[98]. - The company aims to improve operational management and internal controls to increase revenue levels and overall profitability in the coming years[145]. Research and Development - R&D expenses increased by 35.78%, accounting for 7.71% of operating revenue, up 3.44 percentage points from the previous year[18]. - The total R&D investment amounted to ¥31,024,840.92, representing a 35.78% increase compared to ¥22,848,758.74 in the previous period[67]. - The company has developed new core technologies, including online visual inspection technology and fully automated powder zinc immersion technology, enhancing production efficiency and product quality[60][61]. - The company plans to invest 200 million yuan in research and development for new technologies over the next fiscal year[149]. - The company achieved a significant increase in R&D personnel costs due to the need for high-level researchers in interdisciplinary projects, particularly in new fastener systems and rail components[68]. Product Development and Innovation - New product development includes the launch of a next-generation rail technology, expected to enhance operational efficiency by 30%[3]. - The company has developed high-speed rail fasteners suitable for speeds of 250-350 km/h, addressing the needs of China's high-speed rail construction[28]. - The company has developed a viscosity-modifying material that significantly improves the workability and durability of self-compacting concrete, with applications in high-speed rail projects such as Beijing-Shenyang and Jinan-Qingdao[40]. - The company has developed a fatigue testing technology for rail fasteners, enhancing the accuracy and efficiency of product testing[59]. - The company has created a high-frequency excitation experimental platform for track systems, capable of conducting dynamic loading and frequency domain tests, enhancing the understanding of vibration characteristics[75]. Financial Management and Governance - The company emphasizes the importance of governance and compliance, ensuring all financial reports are accurate and complete[4]. - The board has approved a profit distribution plan, although no specific figures were disclosed for this period[5]. - The company has committed to ensuring the proper and legal use of raised funds, with a focus on risk prevention and compliance with regulations[145]. - The company will implement a strict dividend policy to ensure timely and continuous shareholder returns, as outlined in the three-year dividend return plan[145]. - The company has established a special account for the management of raised funds to ensure dedicated and regulated usage[145]. Risks and Challenges - The company has identified potential risks in the market, including supply chain disruptions, which could impact future performance[3]. - The company faces risks related to non-exclusive technology authorization from its controlling shareholder, which could significantly impact its operations if violated[101]. - The company is at risk of R&D failures due to external uncertainties and the complexity of projects, which could adversely affect profitability and development[102]. - The company reported delays in contract order deliveries, impacting revenue performance during the reporting period[112]. Shareholder and Equity Management - The company has committed to not transferring or entrusting others to manage its shares within 36 months from the date of listing[138]. - The company will comply with the regulations set forth by the China Securities Regulatory Commission regarding shareholder and executive share reductions[138]. - The company will announce any share reduction plans at least 15 trading days in advance[138]. - The company will not reduce its shareholding if it is under investigation by the China Securities Regulatory Commission or has been publicly reprimanded by the stock exchange within the last 3 months[140]. - The company will actively accept social supervision regarding its commitments made during the IPO process[147].