Tianfangbiao (871753): Net Profit In The First Half Of The Year Increased By 19.68% Year-On-Year

On August 30, Tianfangbiao Testing and Certification Co., Ltd. (hereinafter referred to as "Tianfangbiao" or "the Company") released the performance report for the first half of 2023, achieving revenue of 70.22 million yuan, up 10.15% year on year, and net profit of 13.17 million yuan, up 19.68% year on year.

At present, the company's main business involves the quality inspection and technical consultation of textiles, clothing, protective articles, shoes, bags, plush toys and other products. It has a certain influence in the functional testing of knitted products and fabrics in China. Next, let's take a look at the highlights of the semi annual report of Tianfang Standard.

Focusing on innovative R&D investment, it was rated as a "specialized, special and new" demonstration enterprise

Tianfangbiao is a state-owned testing technology service provider funded by Tianjin Tianfang Investment Holding Co., Ltd. It has two national laboratories, the National Knitting Product Quality Supervision and Inspection Center and the National Garment Quality Supervision and Inspection Center (Tianjin), as well as the China Industrial Textile Industry Test Center (Tianjin), It is the secretariat unit of the Knitwear Branch of the National Technical Committee for Textile Standardization and the Sportswear Branch of the National Technical Committee for Sporting Goods Standardization, leading the technological progress and standard system revision of the whole industry in the field of knitted clothing and sportswear. The company has four subsidiaries in Shanghai, Shenzhen, Guangdong and Tianjin, serving the main textile industry regions in China.

During the reporting period, the company was rated as a world-class "specialized, special and new" demonstration enterprise, and also as a "benchmark" enterprise for double hundred evaluation. In 2023, the company undertook 23 scientific research projects, including 2 provincial and municipal scientific research projects, and 6 bureau level scientific research projects. One invention patent and seven utility model patents have been authorized. Since this year, nine national industry standards have been drafted, 18 enterprise standards have been formulated for customers, 22 foreign language standards have been translated, and three national industry standards and technology conferences have been organized.

During the reporting period, R&D expenses increased by 29.47% year on year, which shows that the company has always focused on R&D innovation. At present, the company has a domestic well-known expert team and professional laboratory testing technicians in the textile and clothing field, has an innovative technology research and development team and efficient research and development project management experience, and can quickly transform research and development achievements into relevant national standards, industry standards or group standards.

The company has perfect standardization resources to track the latest standard testing technology and industry development trends at home and abroad in real time. The company has established a complete supply chain quality management understanding solution for raw material testing, production process quality control, semi-finished product inspection, brand laboratory patrol inspection and testing equipment calibration, factory inspection, bulk inspection, product certification, standard sample development and laboratory to laboratory comparison. The company has built its own service platform and brand influence, and has become a recognized comprehensive service provider integrating inspection and testing, technology research and development, standard preparation and revision, and product inspection and certification in the textile and clothing field in China.

Have long-term and stable customer relations, develop new product markets and create new growth points

The company's customers include market supervision departments at all levels, customs, brand companies, processing plants and e-commerce platforms. The company provides authoritative and credible third-party test reports to provide technical support for government product quality supervision and product quality improvement in the textile industry. The company's long-term service brands include Anta, Li Ning, Aimu, Sima, An Lifang, Aigao, Ma Tiannu, Wagol, etc., which shows the company's strong customer resources and industry position. During the reporting period, the company increased its customer development efforts and successfully won the bid for the project of "Physical and Chemical Testing of Bedding" of the Joint Service Support Army Quartermaster Quality Inspection Station, which opened up a new military product testing market and created a new growth point for the company.

At the same time, the company also undertakes the task of quality supervision and spot check of multi category products by the governments of all provinces, cities and regions, the comparative test work of consumer associations, and has participated in the weekly quality report column of CCTV and the special reports of popular science and 315 special programs of provincial and municipal television stations for many times. The company actively assumes social responsibility, maintains social order and protects the rights and interests of consumers. The company has established a long-term and stable cooperative relationship with the above major customers, who have highly evaluated the company's testing ability, technical level and service quality.

In recent years, the company's main business scale has grown rapidly, and the number of service fields and customers has continued to increase. High quality customer resources, stable customer structure, and continuously growing number of customers have made the company's testing business scale grow steadily, business performance grow continuously, and profitability increase significantly.