TVT(SZ:002835)2021-08-26 16:00Financial Performance - The company achieved operating revenue of CNY 406.52 million, a 41.48% increase compared to the same period last year[21]. - Net profit attributable to shareholders was CNY 20.24 million, representing a decrease of 31.93% year-on-year[21]. - The net profit after deducting non-recurring gains and losses was CNY 9.63 million, down 64.22% from the previous year[21]. - The company reported a net cash flow from operating activities of CNY -37.81 million, an improvement of 32.49% compared to the same period last year[21]. - The total assets at the end of the reporting period were CNY 1,098.47 million, a slight increase of 0.05% from the end of the previous year[21]. - The net assets attributable to shareholders increased by 0.88% to CNY 758.38 million compared to the end of the previous year[21]. - The company's revenue for the reporting period reached ¥406,520,414.93, representing a year-on-year increase of 41.48% compared to ¥287,333,446.67 in the same period last year[38]. - The gross profit margin for the security video surveillance industry was 27.32%, down 11.05% from the previous year[42]. - The total operating revenue for the first half of 2021 reached ¥406,520,414.93, a significant increase of 41.4% compared to ¥287,333,446.67 in the first half of 2020[122]. - Net profit for the first half of 2021 was ¥20,244,578.66, a decrease of 31.8% from ¥29,739,423.79 in the first half of 2020[123]. Research and Development - Research and development investment amounted to ¥62,988,131.22, an increase of 18.81% from ¥53,015,724.08 in the previous year, accounting for 15.49% of total revenue[38]. - The company has expanded its core product categories, including multi-lens panoramic cameras and AI smart cameras, to drive continuous innovation and development[33]. - The company is committed to enhancing its technological strength through continuous investment in key core technologies, including cloud platforms and big data[33]. - The company has launched several AI-based products, including high-altitude throwing cameras and elevator battery car cameras, enhancing its application capabilities in the SMB market[32]. - The company aims to enhance its technological capabilities through ongoing research and development initiatives[139]. Market and Sales - The overseas market continued to experience rapid growth, with the company developing products tailored to overseas market demands[31]. - The overseas revenue accounted for 95.26% of total revenue, amounting to ¥387,238,299.26, with a year-on-year growth of 42.95%[40]. - A significant portion of the company's revenue comes from overseas markets, with risks associated with international trade tensions potentially impacting sales and profitability[56]. Risks and Challenges - The company faces risks related to technological updates and new product development, as well as market risks[6]. - The company's main products are subject to price fluctuations and gross margin risks due to changes in production costs, industry advancements, and raw material price volatility[56]. - The company faces exchange rate risks as a high percentage of export sales are denominated in USD, which could affect earnings if there are significant fluctuations in the USD/RMB exchange rate[56]. - The ongoing global COVID-19 pandemic poses risks to the company's operations and employee safety, with potential adverse effects on business performance if the economic situation worsens[57]. - Supply chain disruptions caused by the pandemic and political conflicts continue to pose risks to the company's operational capabilities[57]. Financial Management - The company plans not to distribute cash dividends or issue bonus shares[7]. - The company has engaged in entrusted financial management with a total amount of 15,000,000 CNY in bank financial products, with no overdue amounts reported[87]. - The company reported a derivative financial asset amounting to CNY 2,571,000.00 for the reporting period[47]. - The company did not engage in any securities investments during the reporting period[48]. - The company signed a property lease agreement with Shenzhen Bay Technology Development Co., Ltd. for R&D office space, with additional leases in cities like Shanghai, Beijing, and Wuhan[84]. Shareholder Information - The total number of shares decreased from 219,677,923 to 219,612,708 due to the repurchase and cancellation of 65,215 restricted shares[94]. - The total number of common shareholders at the end of the reporting period is 19,422[99]. - The largest shareholder, Guo Lizhi, holds 31.51% of the shares, totaling 69,190,848 shares[99]. - The second-largest shareholder, Liu Di, holds 24.07% of the shares, totaling 52,861,736 shares[99]. Cash Flow and Liquidity - The company's cash and cash equivalents as of June 30, 2021, amount to ¥302,213,885.87, a decrease from ¥346,284,948.90 at the end of 2020[113]. - The cash flow from operating activities showed a net inflow of -¥37,813,992.71, an improvement of 32.49% compared to -¥56,013,167.43 in the previous year[38]. - Total cash inflow from operating activities reached 468,882,147.04 CNY, compared to 339,501,915.37 CNY in the same period last year, reflecting a growth of approximately 38%[131]. - The cash outflow for purchasing goods and services was 362,855,936.07 CNY, up from 275,829,572.28 CNY, representing a 31.5% increase[131]. - The total cash and cash equivalents at the end of the period were 302,213,885.87 CNY, down from 208,406,999.15 CNY, reflecting a decrease in liquidity[133]. Accounting and Financial Reporting - The financial report for the first half of 2021 has not been audited[111]. - The financial statements are prepared in accordance with the Chinese Accounting Standards and reflect the company's financial position as of June 30, 2021[157]. - The company uses RMB as its functional currency for accounting purposes[160]. - The company has included financial statements from its subsidiaries in Huizhou and Hong Kong in the consolidated financial report[153]. - The company has not identified any significant doubts regarding its ability to continue as a going concern for the next 12 months[155].