Tonhe TECH.(SZ:300491)2021-08-17 16:00Financial Performance - The company's operating revenue for the first half of 2021 was RMB 145,295,685.84, representing an increase of 86.51% compared to RMB 77,902,615.44 in the same period last year[32]. - The net profit attributable to shareholders of the listed company reached RMB 4,683,657.84, a significant turnaround from a loss of RMB 12,924,615.22 in the previous year, marking a growth of 136.24%[32]. - The net profit after deducting non-recurring gains and losses was RMB 1,055,607.37, compared to a loss of RMB 15,547,445.02 in the same period last year, reflecting an increase of 106.79%[32]. - The basic earnings per share improved to RMB 0.03 from a loss of RMB 0.08, indicating a growth of 137.50%[32]. - The company's revenue for the reporting period reached ¥145,295,685.84, representing an 86.51% increase compared to ¥77,902,615.44 in the same period last year, driven by growth in smart grid, new energy vehicles, and military equipment sectors[74]. - The net profit for the first half of 2021 was ¥4,683,657.84, a turnaround from a net loss of ¥12,924,615.22 in the first half of 2020[168]. - The total profit for the first half of 2021 was ¥4,437,715.84, compared to a total loss of ¥13,293,433.55 in the same period of 2020[168]. Assets and Liabilities - The total assets of the company at the end of the reporting period were RMB 968,208,792.54, which is a 4.14% increase from RMB 929,744,081.85 at the end of the previous year[32]. - The company's total liabilities amounted to CNY 272.45 million, an increase from CNY 234.65 million, representing a growth of approximately 16.1%[160]. - The company's accounts receivable at the end of the reporting period amounted to 318.23 million yuan, an increase of 8.27% compared to the beginning of the period[7]. - Inventory at the end of the reporting period was 121.93 million yuan, representing a 28.67% increase from the beginning of the period[13]. - The company's short-term borrowings were 59.83 million yuan, accounting for 6.18% of total liabilities, while long-term borrowings were 10 million yuan, representing 1.03%[82]. - The company's accounts payable reached 158.46 million yuan, which is 16.37% of total liabilities, reflecting a significant increase[82]. Research and Development - The company has increased its R&D investment to enhance its technological advantages and product competitiveness[9]. - The company's R&D investment for 2019, 2020, and the first half of 2021 was 36.21 million RMB, 38.94 million RMB, and 19.08 million RMB, representing 13.09%, 12.15%, and 13.13% of total revenue respectively[65]. - The company is focusing on R&D in power electronics technology to maintain its competitive edge in the market[94]. - The company plans to invest approximately 80 million RMB in the construction of a research and development center in Xi'an, aiming to enhance its R&D capabilities and attract top talent[61]. Market and Product Development - The company is actively involved in the new infrastructure construction sector, focusing on areas such as electric vehicle charging stations and power supply systems[24]. - The company launched a 20kW 1000V high-voltage fast charging product, achieving large-scale commercial use and gaining a high market share in the national grid charging equipment tender[42]. - The company plans to develop higher power charging modules (30kW, 40kW) and bidirectional charging and discharging modules to meet diverse customer needs[42]. - The company is expanding its military equipment sector by developing low-power and high-power DC/DC power modules, enhancing its market competitiveness[43]. - The company aims to leverage the growing demand for direct current power systems and smart integrated power systems driven by new energy projects[49]. Financial Management and Strategy - The company will not distribute cash dividends or issue bonus shares for the reporting period[17]. - The company is focused on optimizing its supply chain management to address the impact of rising material costs on gross profit margins[12]. - The company is actively pursuing domestic alternatives and expanding supplier channels to alleviate the impact of rising material costs on gross profit margins[96]. - The company has established a mutual aid fund to support employees facing significant hardships, reflecting its commitment to social responsibility[109]. - The company is promoting green energy initiatives and aims to contribute to ecological civilization through sustainable energy solutions[109]. Risks and Challenges - The company faces risks related to goodwill impairment from its acquisition of Hohwei Power, which may affect future profits[14]. - The company will closely monitor the operational performance of its acquired assets to mitigate goodwill impairment risks[16]. - The gross profit margin is under pressure due to rising procurement costs and increased competition in the electric vehicle and military sectors[10]. - Rising procurement costs due to global supply chain disruptions and material shortages are expected to continue impacting gross profit margins in the future[95]. - The company has not distributed cash dividends or issued bonus shares for the reporting period, indicating a focus on reinvestment[105]. Shareholder and Capital Structure - The company plans to issue shares to specific targets, with approval from the China Securities Regulatory Commission received on June 8, 2021[134]. - The total number of shares before the recent changes was 160,761,503, with a decrease of 7,681,251 shares in limited sale conditions, resulting in 33,183,569 shares remaining[138]. - Major shareholders include 贾彤颖 with 17.89% (28,757,002 shares), 马晓峰 with 14.93% (24,005,754 shares), and 李明谦 with 13.01% (20,919,414 shares)[144]. - The company is actively pursuing stock issuance to enhance its capital structure and support future growth initiatives[134].