In the first half of the year, net profit decreased by 124.58%year -on -year.

On August 30, Tianhe Defense disclosed the semi -annual report in 2022. The semi-annual report shows that the operating income of Tianhe Defense reported 241 million yuan during the reporting period, a year-on-year decrease of 5.16%; the net profit attributable to shareholders of listed companies was-1.017 billion yuan, a year-on-year decrease of 124.58%; Fall 50.00%.

"Daily Economic News" reporter noticed that as of the end of the reporting period, Tianhe Defense's account receivables were prepared for 377 million yuan, with relatively high amounts and a large risk of recovery.

In the first half of the year, net profit decreased by 124.58% year -on -year

It is reported that Tianhe Defense was established in 2001. It is a new high -tech enterprise supported by military and civilian key technology innovation and product development as its core. At present, the three major business systems and military equipment, 5G radio frequency, IoT perception, industry big data, digital ocean, and digital ocean are formed. Essence

The semi-annual report shows that the operating income of Tianhe Defense reported 241 million yuan during the reporting period, a year-on-year decrease of 5.16%; the net profit attributable to shareholders of listed companies was-1.017 billion yuan, a year-on-year decrease of 124.58%; Fall 50.00%.

Regarding the decline in the performance of this issue, Tianhe Defense said that due to the slowdown in the investment in 5G base stations, major domestic customers have decreased to the company's product demand; and due to factors such as the international economic situation, the company's civil products' business income declines; military orders orders are declined; In terms of, Tianhe Defense said that it is planning to organize product production in accordance with the contract scheduled planning. It has not been confirmed that the income has not been confirmed, which has a certain impact on the performance of military products. At the same time, the provision of bad debt preparations is also one of the reasons for the decline in performance.

According to the semi -annual report, the products that account for more than 10%of their operating income are electronic components and portable air defense missile command system products. During the reporting period, electronic components achieved revenue of 213 million yuan, a year -on -year decrease of 0.92%; the portable air defense missile command system series of products achieved revenue of RMB 117 million, an increase of 16.95%year -on -year.

Every reporter noticed that as of the end of the report, Tianhe Defense has a total of 16 subsidiaries. According to the semi -annual report, five of the 7 major subsidiaries that have a net profit that have been disclosed by the company reached more than 10%, five are in a loss state and their performance has declined. In this regard, Tianhe's defense said that it was mainly caused by factors such as decline in product gross profit margin, preparing for bad debt preparation, and increased R & D investment.

Bad debt preparation exceeds 300 million yuan

According to the semi -annual report, Tianhe's account receivables were 169 million yuan, accounting for 6.65%of the company's total audited assets in 2021. It is worth noting that the total book balance of Tianhe Defense's account receivable period was 546 million yuan, the bad debt preparation was 377 million yuan, and the proportion of bad debt preparations reached 69.01%.

Specifically, the balance of the account receivables prepared by the bad accounts based on the single meter accounted for 57.16%of the total amount at the end of the account. At the end of the period, the balance of the book was 312 million yuan, and the bad debts were prepared 309 million yuan, and the proportion of withdrawal was 99.17%. Essence

According to the semi -annual report, the end balance of the account receivable period of Tianhe's defense account within 1 year (including 1 year) was 145 million yuan, accounting for 26.51%of the total; 361 million yuan, accounting for 66.06%of the total. It can be seen that the risk of recovery of Tianhe's defense receivables is greater.

At the same time, each reporter noticed that 79.24%of the balance of the account receivable of Tianhe Defense originated from the top five customers in the balance. Tianhe's defense said that it is mainly due to the production model of Military Trade A. It is due to the unable to sell and recover the money in a timely manner in the military and trade companies, which affects the recovery of its account receivables on schedule.

Regarding the existing credit risk, Tianhe Defense said that the corresponding management of the corresponding accounts receivable will continue to increase the collection efforts in accordance with the classification and nature of the risk level and nature, strictly budget management, strive to improve the level of financial management, and actively control the scale of the receivables receivable. increase.

In addition, on August 30, Tianhe Defense disclosed the "Announcement of the Phase II of the West High-New Sky and Defense Phase II. , Construction of 5G Communication Industrial Park, expanding the structure of electronic products of civilian products, promoting the integration and development of military -civilian products, and improving the company's core competitiveness.

According to the 2021 annual report, among the operating income composition of Tianhe Defense, 83.17%of the electronic component manufacturing industry accounts for 8.46%of the electronic equipment manufacturing industry; the proportion of civil products' trade accounts for 0.43%, and the competitiveness is slightly insufficient.

It can be seen that Tianhe Defense is committed to exploring the transformation and upgrading of business. It is intended to continue to promote the development of a single military product business into a combination of military and civilian business and expand the new strategy and positioning of enterprises to develop.

In response to the above situation and the future development plan of Tianhe Defense, the reporter of "Daily Economic News" sent an outline of the interview to Tianhe Defense Director's mailbox, but as of press time, no reply was received.

Daily Economic News

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