TGC(SZ:300265)2021-08-20 16:00Financial Performance - The company's operating revenue for the first half of 2021 was ¥781,933,472.60, representing a 22.74% increase compared to ¥637,044,184.45 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was ¥37,278,618.21, up 12.46% from ¥33,148,050.97 in the previous year[18]. - The company reported a decrease of 5.41% in net profit after deducting non-recurring gains and losses, amounting to ¥27,078,306.12 compared to ¥28,625,807.07 in the previous year[18]. - The basic earnings per share remained unchanged at ¥0.10, while diluted earnings per share decreased by 9.09% to ¥0.10 from ¥0.11[18]. - The weighted average return on net assets was 2.82%, down from 3.07% in the previous year[18]. - The company reported a total non-operating income of 10,200,312.09, which includes government subsidies of 3,528,005.49 and gains from the disposal of non-current assets of 85,476.86[23]. - The company achieved a net profit of 6.304 million yuan, 7.9092 million yuan, and 11.8638 million yuan for the years 2017, 2018, and 2019 respectively, with a total of no less than 26.077 million yuan over three years[104]. - The company reported a significant increase in investment income, which amounted to CNY 78,400,961.86 in the first half of 2021, compared to CNY 279,931.20 in the same period of 2020[191]. Cash Flow and Financial Position - The net cash flow from operating activities was -¥213,602,552.16, a significant decrease of 10,904.05% compared to ¥1,977,059.60 in the same period last year[18]. - The company's cash and cash equivalents decreased by 8.41% to ¥377,329,812.28[48]. - The total amount of short-term loans as of June 30, 2021, was ¥679,462,643.08, compared to ¥652,907,591.69 at the end of the previous year[178]. - The cash inflow from operating activities totaled 690,875,313.26 CNY, while cash outflow was 904,477,865.42 CNY, leading to a negative cash flow from operations[194]. - The total cash inflow from financing activities was 453,034,390.32 CNY, while cash outflow was 394,987,440.46 CNY, resulting in a net cash flow of 58,046,949.86 CNY, contrasting with a net outflow of -220,515,486.24 CNY previously[195]. - The company's asset-liability ratio increased to 46.38% from 44.99% year-over-year[172]. - The total amount of funds raised for the projects has been adjusted, with ¥1,489.48 million allocated for permanent working capital, achieving 100% investment completion[71]. Investments and R&D - The company invested 28.06 million yuan in R&D, which is an increase of 8.55% year-on-year[33]. - The company has ongoing non-equity investments, indicating a strategic focus on expanding its operational capabilities[54]. - The company has established a management system to cope with rapid asset expansion, focusing on talent acquisition and training to maintain operational efficiency[90]. - The company plans to enhance R&D efforts for new products and technologies to maintain a competitive edge in the market[85]. - The company reported R&D expenses of CNY 28,055,390.62 for the first half of 2021, which is an increase of 8.4% compared to CNY 25,844,852.35 in the same period last year[185]. Market and Industry Outlook - The company operates in a cyclical industry closely tied to national economic development, with a stable demand outlook[30]. - The telecommunications industry saw a total telecom service revenue of 753.3 billion, a year-on-year increase of 8.7%, with 5G base stations reaching 961,000[29]. - The company is positioned to benefit from the accelerated construction of ultra-high voltage projects, which are expected to enhance clean energy transmission capabilities[28]. - The company is expanding its market presence, targeting a 25% increase in market share in the Asia-Pacific region by 2022[110]. - The company has outlined a positive outlook for the second half of 2021, projecting a revenue growth of 10% to 15% based on current market trends[108]. Shareholder and Corporate Governance - The company has committed to ensuring that no more than 25% of its shares will be transferred by the controlling shareholders during their tenure, and no transfers will occur within six months after leaving the position[104]. - The company has adhered to its commitments regarding the prohibition of related party transactions that could harm its interests, ensuring fair market pricing[105]. - The company has implemented an employee stock ownership plan, with the first phase completed and shares locked for 60 months[97]. - The company has no significant related party transactions during the reporting period[120]. - The company has not reported any changes in the shareholding of directors, supervisors, and senior management during the reporting period[154]. Legal and Compliance Matters - There are no significant litigation or arbitration matters reported that could impact the company's financial position[114]. - The company has not engaged in any external guarantees that violate regulations, maintaining compliance with financial standards[112]. - The half-year financial report has not been audited, which may affect investor confidence in the reported figures[113]. - The company has no trust or management situations during the reporting period[127]. Risks and Challenges - The company faces significant risks from raw material price fluctuations, particularly for aluminum and optical fibers, which could impact production costs and profitability[86]. - The company aims to improve supply chain management and utilize hedging tools to mitigate the impact of raw material price volatility[86]. - The company has established strict internal control measures for futures trading to manage associated risks effectively[75].