ECEC(SZ:002199)2021-08-27 16:00Financial Performance - The company's operating revenue for the first half of 2021 was ¥156,541,005.09, representing a 44.06% increase compared to ¥108,667,032.08 in the same period last year[17]. - The net profit attributable to shareholders was ¥21,357,630.40, a significant increase of 860.75% from ¥2,223,005.74 in the previous year[17]. - The net profit after deducting non-recurring gains and losses reached ¥16,638,216.66, compared to a loss of ¥1,338,958.82 in the same period last year, marking a 1,342.62% improvement[17]. - The net cash flow from operating activities was ¥25,153,498.68, up 55.04% from ¥16,223,790.36 in the previous year[17]. - Basic earnings per share increased to ¥0.0877, reflecting an increase of 863.74% compared to ¥0.0091 in the same period last year[17]. - Total operating revenue for the first half of 2021 reached ¥156,541,005.09, an increase of 44.1% compared to ¥108,667,032.08 in the same period of 2020[117]. - Net profit for the first half of 2021 was ¥21,357,630.40, significantly higher than ¥2,223,005.74 in the first half of 2020, marking an increase of 861.5%[118]. - The company’s total comprehensive income for the first half of 2021 was ¥21,357,630.40, compared to ¥2,223,005.74 in the same period of 2020[119]. Assets and Liabilities - Total assets at the end of the reporting period were ¥573,246,428.18, a 9.14% increase from ¥525,216,706.84 at the end of the previous year[17]. - The total liabilities of the company were CNY 147,367,343.35, compared to CNY 120,695,252.41 at the end of 2020, marking an increase of approximately 22.2%[109]. - The company's non-current assets amounted to CNY 258,977,295.04, up from CNY 233,435,635.25, which is an increase of about 11.0%[108]. - The cash and cash equivalents decreased to CNY 102,957,565.85 from CNY 110,980,864.61, representing a decline of approximately 7.5%[107]. - Accounts receivable increased to ¥83,890,063.63, representing 14.63% of total assets, up from 14.48% the previous year[38]. - Inventory levels rose to ¥85,138,321.51, accounting for 14.85% of total assets, an increase of 2.20%[38]. Research and Development - The company invested 8.57 million yuan in R&D, representing a 24.52% increase from the previous year[32]. - The company holds a total of 62 patents, including 7 invention patents and 55 utility model patents, indicating strong R&D capabilities[29]. - The company plans to enhance its R&D efforts to maintain a competitive edge in the quartz crystal component market, particularly in response to 5G and IoT demands[50]. Sales and Market Performance - Domestic sales accounted for 72.35% of total revenue, while international sales made up 27.65%, with a 12.05% increase in foreign sales[34]. - The sales of resonators contributed 98.68% to total revenue, with a 44.70% increase compared to the previous year[34]. - The gross profit margin improved due to increased sales of miniaturized products, reflecting the company's ability to leverage scale effects[27]. Corporate Governance and Management - The company plans not to distribute cash dividends or issue bonus shares[5]. - There were no changes in the company's board of directors, supervisors, or senior management during the reporting period[60]. - The company has not implemented any employee stock ownership plans or other incentive measures during the reporting period[57]. Compliance and Legal Matters - The company did not experience any environmental pollution incidents or violations during the reporting period[60]. - There were no major lawsuits or arbitration matters during the reporting period[70]. - The company has no non-operating fund occupation by controlling shareholders or related parties during the reporting period[65]. - The company has not conducted any major related party transactions during the reporting period[72]. Financial Management - The company is actively monitoring foreign exchange market fluctuations to mitigate risks associated with its high proportion of overseas sales[50]. - The company aims to explore new emerging business opportunities while carefully assessing market conditions and technological advancements[51]. - The company has invested CNY 100.02 million in bank wealth management products, with no overdue amounts or impairment provisions reported[85]. Accounting Policies - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring a true and complete reflection of the company's financial status as of June 30, 2021[151]. - The company adopts the Chinese Yuan (RMB) as its functional currency for accounting purposes[154]. - The company consolidates financial statements based on control, including all subsidiaries, and offsets internal transactions[156]. Intangible Assets and Investments - The company capitalizes development phase expenditures as intangible assets if they meet specific criteria, including technical feasibility and intention to complete the asset for use or sale[200]. - The estimated useful life for software is 5 years, while non-patented technology is estimated at 8-10 years, both using the straight-line method for amortization[199]. - The company uses the cost method for accounting long-term equity investments in subsidiaries, recognizing investment income based on declared dividends or profits[185].