TES(SZ:003019)2021-08-29 16:00Financial Performance - The company's operating revenue for the first half of 2021 was ¥678,272,501.91, a decrease of 0.64% compared to ¥682,618,883.77 in the same period last year[23]. - The net profit attributable to shareholders was ¥64,911,307.45, down 11.80% from ¥73,595,626.53 year-on-year[23]. - The net profit after deducting non-recurring gains and losses was ¥55,584,301.95, representing a decline of 21.27% compared to ¥70,601,252.36 in the previous year[23]. - Basic earnings per share were ¥0.51, down 33.77% from ¥0.77 in the previous year[23]. - The net cash flow from operating activities was -¥188,347,588.28, a significant decrease of 4,365.81% from -¥4,217,544.59 in the same period last year[23]. - In the first half of 2021, the company achieved operating revenue of 678.27 million yuan, a year-on-year decrease of 0.64%, but a quarter-on-quarter increase of 32.72%[51]. - The net profit attributable to shareholders of the listed company was 64.91 million yuan, down 11.80% year-on-year, but up 72.69% quarter-on-quarter[51]. - The company reported a total revenue of ¥678,272,501.91 for the current period, a decrease of 0.64% compared to ¥682,618,883.77 in the same period last year[81]. - The company reported a total of 11,449.88 thousand yuan in related party transactions, accounting for 17.46% of similar transactions[138]. - The total amount of related party transactions during the reporting period was 11,971.71 thousand yuan[139]. Assets and Liabilities - Total assets increased by 13.10% to ¥1,679,619,115.61 from ¥1,485,124,137.28 at the end of the previous year[23]. - The net assets attributable to shareholders increased by 0.82% to ¥1,220,097,123.97 from ¥1,210,115,087.20 at the end of the previous year[23]. - Cash and cash equivalents decreased to ¥104,371,738.34, representing 6.21% of total assets, down from 18.64% at the end of the previous year, primarily due to increased cash outflows from operating activities[90]. - Accounts receivable increased to ¥326,282,359.03, accounting for 19.43% of total assets, up from 14.10% last year, mainly due to increased revenue[90]. - Inventory rose to ¥439,230,783.59, making up 26.15% of total assets, an increase from 19.14% last year, attributed to strategic material procurement amid global electronic component shortages[90]. - Short-term borrowings increased to ¥167,742,766.48, representing 9.99% of total assets, up from 4.13% last year, primarily for strategic material procurement[90]. - Total liabilities increased to CNY 459,521,991.64, up 67.0% from CNY 275,009,050.08[174]. - The company's total assets reached CNY 1,679,619,115.61, an increase of 13.1% from CNY 1,485,124,137.28[175]. Market and Business Strategy - The main business focus is on providing customized commercial smart interactive display solutions, including touch display screens and integrated machines[31]. - The online fitness equipment market is rapidly growing, with the company targeting this sector with interactive devices for smart treadmills and exercise bikes[34]. - The industrial automation sector shows significant demand for smart interactive display devices, enhancing production management efficiency[36]. - The gaming and entertainment sector utilizes the company's interactive display devices in gaming machines and advertising boards, focusing on low latency and high durability[40]. - The company’s products are also applied in transportation, logistics, and public services, with a broad market outlook driven by IoT technology and smart city initiatives[41]. - The market demand for commercial smart interactive display devices is driven by various sectors including retail, finance, healthcare, and education, indicating strong growth potential[43]. - The company operates under a JDM/ODM model, allowing for highly customized product development and strong independent innovation capabilities[50]. - The ongoing advancements in technology and the increasing application of smart interactive display devices in various industries are expected to drive market demand[46]. - The COVID-19 pandemic has accelerated the growth of new industries, such as online fitness, which presents additional market opportunities for smart interactive display devices[48]. - The company is actively expanding into the smart fitness market, supported by the national fitness plan aiming for a sports industry scale of 5 trillion CNY by 2025[64]. Research and Development - The company has a strong R&D team of 126 members, accounting for 16.98% of total employees, focusing on new product and technology development[72]. - The company has obtained 69 valid patents, with 34 in mainland China and 35 in Taiwan, showcasing its innovation capabilities[74]. - Research and development expenses rose by 4.78% to ¥24,862,978.96, indicating a continued investment in innovation[82]. - The company is committed to continuous research and development of new technologies and products to maintain competitiveness in the market[102]. Risk Management - The company faces risks related to high customer concentration, which could negatively impact operations if major clients reduce purchases[103]. - The company is actively expanding its domestic market to diversify its customer base and reduce risks associated with customer concentration[103]. - The company has implemented measures to hedge against foreign exchange risks, primarily using financial hedging tools[107]. - The company is monitoring changes in export tax rebate policies that could affect profitability due to its high export revenue[108]. - The company is taking steps to mitigate risks associated with raw material price fluctuations by establishing long-term supplier relationships[109]. - The ongoing COVID-19 pandemic poses risks to business operations, and the company is increasing raw material procurement to manage potential disruptions[110]. Corporate Governance and Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[7]. - A total of 4.6493 million stock options were granted under the 2021 stock option incentive plan, with an exercise price of 21.98 CNY per option[117]. - The total number of ordinary shareholders at the end of the reporting period was 19,173[158]. - The company has a total of 128,000,000 shares, with 96,000,000 shares subject to restrictions, representing 75.00% of total shares[156]. - Foreign investors hold 72,825,472 shares, accounting for 56.89% of the total shares[156]. - The largest shareholder, IPC Management Limited, holds 31.06% of the shares, totaling 39,750,400[158]. - The second-largest shareholder, Songbao Investment Limited, holds 11.25% of the shares, totaling 14,400,000[158]. - The company has not undergone any changes in its controlling shareholder or actual controller during the reporting period[162]. Social Responsibility and Sustainability - The company actively participates in social responsibility initiatives, providing employment opportunities for disabled individuals and supporting educational donations[128]. - The company has implemented several energy-saving initiatives, including establishing a photovoltaic power generation facility and promoting a "sponge city" concept[126].