TGC(SZ:300265)2021-04-27 16:00Financial Performance - The company's revenue for Q1 2021 was ¥282,319,339.23, representing a 32.41% increase compared to ¥213,210,721.47 in the same period last year[7]. - Net profit attributable to shareholders reached ¥12,719,991.22, a significant increase of 774.24% from ¥1,454,978.98 year-on-year[7]. - The net profit after deducting non-recurring gains and losses was ¥10,189,338.88, up 1,673.11% from ¥574,658.25 in the previous year[7]. - The basic earnings per share increased to ¥0.03, a rise of 650.00% compared to ¥0.004 in the same period last year[7]. - The total profit for the quarter increased by 473.42% year-on-year, driven by higher operating profits and reduced non-operating expenses[16]. - The company reported a 305.47% increase in operating profit, attributed to a higher sales proportion of high-margin products[16]. - Net profit for Q1 2021 was ¥10,996,549.09, significantly higher than ¥554,396.97 in the same period last year[56]. - The comprehensive income for the quarter was ¥9,813,309.29, a recovery from a loss of ¥7,097,012.76 in the same period last year[57]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,419,175,008.99, a decrease of 3.66% from ¥2,511,019,466.45 at the end of the previous year[7]. - The company's total assets decreased to ¥1,367,234,648.64 from ¥1,447,900,007.73, indicating a reduction in asset base[52]. - Total liabilities decreased to CNY 1,033,594,859.66 from CNY 1,129,660,300.89, a reduction of about 8.50%[48]. - Total liabilities increased to 1,129,660,300.89 CNY from 1,135,985,129.80 CNY, reflecting a minor adjustment due to the new leasing standards[72]. - The company's current assets totaled CNY 1,645,032,790.20, down from CNY 1,732,420,586.39 at the end of 2020, indicating a decrease of about 5.04%[46]. - Cash and cash equivalents decreased to CNY 416,472,678.44 from CNY 571,908,566.13, representing a decline of approximately 27.06%[46]. - Total equity attributable to shareholders increased to CNY 1,313,912,657.32 from CNY 1,301,603,908.30, reflecting a growth of approximately 0.94%[49]. Cash Flow - The company reported a net cash flow from operating activities of -¥96,837,940.69, which is a decline of 61.29% compared to -¥60,037,897.14 in the same period last year[7]. - The total cash inflow from operating activities was ¥327,484,981.63, compared to ¥270,003,951.81 in the previous period, showing an increase of about 21.3%[64]. - The net cash flow from investment activities was 8,979,514.96 CNY, a significant improvement compared to -1,499,093.70 CNY in the previous year[68]. - The company incurred research and development expenses of ¥1,711,637.80, an increase from ¥1,154,287.77 in the previous period, representing a growth of approximately 48.1%[59]. Shareholder Information - The company had a total of 30,309 shareholders at the end of the reporting period[10]. - The largest shareholder, Tongguang Group Co., Ltd., held 50.10% of the shares, amounting to 182,830,000 shares[10]. Research and Development - The company's research and development expenses increased by 39.91% compared to the same period last year, indicating a focus on innovation[16]. - The company plans to enhance R&D efforts to ensure its products and technologies remain industry-leading[26]. - The company has 223 patents and has participated in the drafting of 5 international IEC standards, indicating a strong position in technology and innovation[30]. Legal and Regulatory - The company is currently involved in a legal dispute that may impact future profits, but the outcome is still uncertain[32]. - The company is committed to maintaining its tax benefits as a high-tech enterprise, which currently enjoys a 15% corporate income tax rate[28]. - There were no violations regarding external guarantees during the reporting period[39]. Operational Insights - The company has ongoing contracts with significant orders, including a contract worth RMB 7,606 million with the State Grid Corporation[19]. - The total procurement amount from the top five suppliers accounted for 35.56% of the total procurement, down from 59.26% in the same period last year[24]. - The total sales amount from the top five customers accounted for 22.06% of the total sales, an increase from 13.94% in the same period last year[24]. Management and Strategy - The company aims to improve its management structure and internal controls to support its rapid asset expansion[31]. - The company is actively recruiting high-level talent to strengthen its management and R&D teams[31]. - The company faces risks from raw material price fluctuations, particularly for aluminum and optical fibers, which significantly impact production costs[26].