THD(SZ:300397)2021-08-26 16:00Financial Performance - The company's operating revenue for the first half of 2021 was approximately ¥253.68 million, a decrease of 63.89% compared to ¥702.53 million in the same period last year[21]. - The net profit attributable to shareholders of the listed company was a loss of approximately ¥7.66 million, representing a decline of 112.25% from a profit of ¥62.50 million in the previous year[21]. - The net profit after deducting non-recurring gains and losses was a loss of approximately ¥21.91 million, down 132.56% from a profit of ¥67.30 million in the same period last year[21]. - The basic earnings per share were -¥0.02, a decrease of 114.29% compared to ¥0.14 in the previous year[21]. - The total profit for the period was -1,167.83 million RMB, down 107.61% year-on-year, while the net profit attributable to shareholders was -765.62 million RMB, a decline of 112.25%[43]. - The company reported a total comprehensive loss of CNY 9.60 million for the first half of 2021, compared to a comprehensive income of CNY 130.94 million in the same period of 2020[200]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥1.88 billion, an increase of 0.04% from ¥1.88 billion at the end of the previous year[21]. - The net assets attributable to shareholders of the listed company increased by 18.41% to approximately ¥1.47 billion from ¥1.24 billion at the end of the previous year[21]. - Total liabilities rose to ¥408,434,931.13 from ¥398,834,611.02, with current liabilities slightly increasing[191]. - The company's equity attributable to shareholders increased to ¥1,468,946,204.72 from ¥1,240,529,239.15, indicating strong retained earnings[192]. - The company reported a total liabilities increase to CNY 330.42 million in the first half of 2021, up from CNY 246.40 million in the same period of 2020, representing a growth of 34.06%[196]. Research and Development - The company has a strong R&D focus on disruptive technologies, aligning with national defense modernization goals outlined in the 14th Five-Year Plan[37]. - R&D investment reached 60.88 million yuan, accounting for 13% of operating revenue, reflecting a 29.45% increase compared to the same period last year[51]. - Research and development expenses for the first half of 2021 were CNY 41.10 million, an increase of 23.93% from CNY 33.16 million in the first half of 2020[197]. Business Strategy and Market Position - The company has established three main business systems: military equipment, communication electronics, and next-generation integrated electronic information, focusing on five key business sectors including 5G RF and industry big data[29]. - The company aims to leverage its technological advantages to provide customized solutions based on clients' OPEX and CAPEX metrics, enhancing customer and product value[31]. - The company plans to enhance its core competitiveness in military equipment by focusing on technology upgrades and new product development[45]. - The company is committed to expanding its market presence both domestically and internationally, particularly in the telecommunications sector[43]. - The company aims to leverage the significant opportunities presented by 5G communication construction to expand the production capacity of civilian communication electronic products[105]. Risk Management - The management has highlighted potential risks and corresponding measures in the report, urging investors to pay attention to investment risks[4]. - The company is facing risks related to management and operational capabilities due to its rapid growth and expansion[105]. - The company is facing risks from international political and economic complexities, particularly due to US export controls affecting its clients and suppliers[108]. Corporate Governance and Compliance - The company has established a robust investor relations management system, ensuring timely and accurate disclosure of financial reports and maintaining good communication with investors[122]. - The company has not faced any administrative penalties for environmental issues during the reporting period and complies with relevant environmental laws[120]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[129]. Subsidiaries and Acquisitions - The company has established two new subsidiaries, Tianhe Jiamei and Guangsu Xincai, to enhance its layout in basic materials and 5G RF business, with the thermal conductive materials product line progressing smoothly[47]. - The acquisition of remaining equity in Huayang Communication and Nanjing Biao has been completed, enhancing the company's strategic layout in the communication electronics business[53]. - The company has completed the acquisition of 16% equity in Nanjing Biao, with a total investment of 163.4 million CNY[80]. Social Responsibility - The company actively participates in social responsibility initiatives, including supporting rural revitalization efforts by purchasing 1,052 barrels of cooking oil for local government projects[125]. - The company emphasizes safety production management, achieving a level 3 standardization in safety production while implementing comprehensive safety management practices[121].