TJT(SZ:002977)2021-08-16 16:00Financial Performance - The company's operating revenue for the first half of 2021 was ¥166,856,262.61, representing an increase of 84.59% compared to ¥90,392,416.43 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was ¥48,050,867.50, up 69.44% from ¥28,358,641.62 in the previous year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥43,233,014.29, a 54.43% increase from ¥27,995,508.62 year-on-year[20]. - The basic earnings per share increased to ¥0.67, reflecting a growth of 48.89% compared to ¥0.45 in the same period last year[20]. - The company's revenue for the reporting period reached ¥166,856,262.61, representing an 84.59% increase compared to ¥90,392,416.43 in the same period last year[40]. - Operating profit for the first half of 2021 was CNY 56,533,633.75, up from CNY 33,571,280.15 in the first half of 2020, reflecting a growth of 68.2%[124]. - Net profit attributable to the parent company for the first half of 2021 was CNY 48,050,867.50, compared to CNY 28,358,641.62 in the same period of 2020, marking an increase of 69.6%[125]. - Chengdu Tianjian Technology Co., Ltd. reported a total comprehensive income of 58.6 million in the first half of 2021, representing a 41.6% increase compared to the previous period[136]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,194,197,737.10, which is a 6.26% increase from ¥1,123,832,495.50 at the end of the previous year[20]. - The total liabilities as of the end of the first half of 2021 amounted to CNY 243,483,036.75, an increase from CNY 199,718,662.65 at the end of the first half of 2020[121]. - Total equity attributable to shareholders of the parent company was CNY 950,714,700.35, compared to CNY 924,113,832.85 at the end of the first half of 2020, showing a growth of 2.9%[121]. - The company's current assets totaled CNY 1,042,747,370.22, compared to CNY 1,010,786,785.87 at the end of 2020, indicating an increase of about 3.2%[119]. - Cash and cash equivalents decreased to CNY 356,821,400.14 from CNY 457,499,639.63, representing a decline of approximately 22%[118]. - Accounts receivable rose to CNY 450,029,284.75, up from CNY 343,975,523.90, marking an increase of around 30.9%[118]. - The company's inventory increased to CNY 78,322,746.33 from CNY 73,280,357.84, showing a growth of about 6.4%[119]. - Non-current assets totaled CNY 151,450,366.88, up from CNY 113,045,709.63, reflecting a significant increase of approximately 33.9%[119]. Cash Flow - The net cash flow from operating activities was negative at -¥31,431,291.43, a decline of 222.59% compared to -¥9,743,490.15 in the same period last year[20]. - Cash inflow from operating activities for the first half of 2021 was CNY 49,515,560.13, down from CNY 57,096,334.43 in the first half of 2020[128]. - The total cash inflow from investment activities was 251,485,125.29 CNY, while cash outflow was 298,965,519.21 CNY, resulting in a net cash flow from investment activities of -47,480,393.92 CNY[129]. - The net cash flow from financing activities was -21,450,000.00 CNY, a decrease from 455,117,000.00 CNY in the previous period, reflecting reduced financing activities[130]. - The total cash and cash equivalents at the end of the period amounted to 353,576,105.56 CNY, down from 453,937,790.91 CNY at the beginning of the period[130]. - The total cash outflow for operating activities was 80,946,851.56 CNY, compared to 66,839,824.58 CNY in the previous period, showing an increase in operational expenses[129]. Research and Development - Research and development expenses increased by 24.16% to ¥5,168,223.24 from ¥4,162,426.23 in the previous year[40]. - The company has developed a new phased array product that is smaller, lighter, maintenance-free, and low-power, expanding its applications in military equipment[29]. - The company holds 23 authorized patents, primarily in high-frequency, high-power solid-state power modules, indicating strong technological capabilities[33]. - The company emphasizes understanding user needs and has developed advanced design concepts to provide tailored solutions in microwave front-end components[34]. Market Position and Strategy - The main revenue source during the reporting period was the airborne solid-state transmitter, which is crucial for missile radar guidance systems[28]. - The company has established a strong competitive advantage through technology accumulation and process optimization in the high-frequency, high-power solid-state microwave front-end sector[33]. - The company is positioned to benefit from the modernization of defense technology and the increasing demand for advanced military equipment[30]. - The company has a comprehensive business model that integrates R&D, manufacturing, sales, and service to meet user demands effectively[28]. - The company plans to expand its market presence and is focusing on new product development and technology innovation[104]. Risks and Compliance - The company emphasizes risks related to customer concentration, quality, technology, and investment project funding[5]. - The company faces risks related to high customer concentration, with two major clients being state-owned military enterprises[54]. - The company has maintained compliance with all relevant laws and regulations regarding share lock-up periods[72]. - The company has not faced any environmental penalties and does not belong to the category of key pollutant discharge units[66]. - The company has fulfilled all commitments made during the reporting period, with no violations noted as of June 30, 2021[70]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 15,703[103]. - The largest shareholder, Liu Jiyong, holds 36.01% of the shares, totaling 25,750,000 shares[104]. - Chen Lei, the second-largest shareholder, owns 23.08% of the shares, amounting to 16,500,000 shares[104]. - The company has a total of 53,600,000 shares, with 27,850,000 shares being subject to lock-up restrictions[101]. - The report indicates a significant interest from institutional investors, with several holding over 5% of the shares[104]. Corporate Governance - The financial report for the first half of 2021 was not audited[116]. - There were no significant related party transactions, including asset or equity acquisitions or sales, during the reporting period[80]. - The company did not engage in any major litigation or arbitration matters during the reporting period[79]. - The company has not engaged in any securities or derivative investments during the reporting period[50][51]. - The company has not implemented any employee stock ownership plans or incentive measures during the reporting period[63].