Financial Performance - For the first half of 2022, the company reported revenue of RMB 10,131.7 million, a decrease of 2.5% compared to RMB 10,392.0 million in the same period of 2021[6]. - Gross profit for the same period was RMB 2,304.4 million, down 22.9% from RMB 2,994.3 million, resulting in a gross margin of 22.7%, compared to 28.8% in 2021[6]. - Operating profit decreased to RMB 822.8 million, representing an operating margin of 8.1%, down from 16.2% in the previous year[6]. - The net profit attributable to equity holders was RMB 477.0 million, a decline of 60.4% from RMB 1,203.5 million in the first half of 2021[6]. - Basic earnings per share for the first half of 2022 were RMB 0.11, compared to RMB 0.28 in the previous year[6]. - The net profit for the first half of 2022 was RMB 468,716,000, representing a significant decline of 62.5% compared to the previous year[12]. - Operating revenue was RMB 10,131,698 thousand, a decrease of 2.5% compared to RMB 10,392,021 thousand in the same period of 2021[100]. - The reported segment profit for the six months ended June 30, 2022, was RMB 1,164,661 thousand, down from RMB 1,905,042 thousand in the same period of 2021, indicating a decrease of about 38.8%[116]. Assets and Liabilities - The company’s total assets as of June 30, 2022, were RMB 30,973.0 million, an increase from RMB 28,963.7 million at the end of 2021[7]. - Total liabilities rose to RMB 11,771.8 million from RMB 10,209.8 million, resulting in a net debt-to-equity ratio of 6.0%, up from 5.6%[7]. - As of June 30, 2022, the company's total liabilities reflect a strategic focus on managing financial obligations effectively amidst ongoing market challenges[145]. - The company's total equity attributable to shareholders rose to RMB 18,936,357 thousand from RMB 18,488,234 thousand, an increase of 2.42%[104]. - The company's net assets increased to RMB 19,201,243 thousand from RMB 18,753,882 thousand, marking a growth of 2.38%[103]. Cash Flow and Financing - Cash generated from operating activities was RMB 1,262.4 million, down from RMB 2,021.0 million in the same period last year[6]. - The net cash flow from operating activities for the first half of 2022 was RMB 1,262,395,000, a decrease of RMB 758,570,000 compared to RMB 2,020,965,000 in the same period of 2021[42]. - The net cash generated from financing activities was RMB 470,136 thousand, compared to a net cash used of RMB (935,588) thousand in the same period of 2021[106]. - The company borrowed RMB 2,292,000 thousand in financing activities, significantly up from RMB 912,000 thousand in the same period of 2021[106]. Market and Sales Performance - In the first half of 2022, the company's cement sales volume decreased by 15.7% to 21,192 thousand tons compared to the same period in 2021[20]. - The average selling price of cement increased by 16.2% to RMB 393.0 per ton, while the average selling price of clinker rose by 26.8% to RMB 334.0 per ton[21]. - The overall cement market in China faced significant challenges, including demand contraction and rising costs due to external factors like the Russia-Ukraine crisis[9]. - High-grade cement sales decreased by 14.9% to 19,907 thousand tons, while low-grade cement sales decreased by 26.4% to 1,285 thousand tons compared to the same period last year[26][27]. - The company expects higher demand for cement products in the second half of the year due to the construction season starting in the second quarter[117]. Operational Strategy and Future Plans - The company is focusing on expanding its market presence and enhancing operational efficiency to improve profitability in the future[6]. - New product development and technological advancements are being prioritized to meet market demands and drive growth[6]. - The company aims to enhance internal management to improve production quality and sustainable profitability[12]. - The company plans to enhance customer service, expand the market, and stabilize prices to increase sales in the second half of the year[56]. - The company aims to strengthen production management and optimize production technology to reduce costs and improve efficiency[56]. Legal and Governance Issues - The company is facing a winding-up petition in the Cayman Islands, initiated by a shareholder, Tianrui, and has engaged legal counsel to address this matter[74]. - The company has been involved in significant litigation in Hong Kong against former directors, seeking various injunctive relief and damages due to alleged misconduct[81]. - The company has faced multiple court hearings regarding the winding-up petition and related claims, with a case management hearing scheduled for November 22, 2022[79]. - The company has ongoing litigation related to the acquisition of Liaocheng Meijing Zhongyuan Cement Co., with a payable amount of RMB 30,678 thousand as of June 30, 2022[143]. - The group is currently facing a winding-up petition in the Cayman Islands, initiated by a shareholder, Tianrui (International) Holdings Limited, and has engaged legal counsel for this matter[156]. Employee and Management Information - The company has 17,699 employees as of June 30, 2022, and emphasizes training for technical talent to improve work performance[57]. - Executive Director Li Huibao ceased to serve as President of Shandong Shanshui Cement Group Co., Ltd. since March 22, 2022[172]. - Li Huibao's annual basic salary is RMB 3.6 million, with bonuses based on performance indicators and assessment results calculated from this base salary[172]. - Key management personnel compensation for the six months ended June 30, 2022, was RMB 5,256,000, a decrease of 6.5% from RMB 5,623,000 in the same period of 2021[166]. Related Party Transactions - The total amount of related party transactions under the framework agreements with China National Building Material Group was RMB 619,199 thousand, with an annual cap of RMB 2,592,725 thousand[96]. - The group reported significant related party transactions, including sales of RMB 10,886,000 to subsidiaries of major shareholders, down 71.5% from RMB 38,322,000 in the same period of 2021[162]. - Mining service fees paid to subsidiaries of major shareholders amounted to RMB 250,060,000, up 17.3% from RMB 212,933,000 in the prior period[162].

Financial Performance - The company reported a total revenue of RMB 10.5 billion for the fiscal year 2021, representing a year-on-year increase of 15%[1] - The net profit for the year was RMB 1.2 billion, which is a 20% increase compared to the previous year[1] - Total revenue for 2021 reached RMB 24,659,544 thousand, an increase of 8.5% compared to RMB 20,891,454 thousand in 2020[7] - Gross profit for 2021 was RMB 7,259,549 thousand, with a gross margin of 29.4%, down from 33.3% in 2020[7] - Net profit attributable to equity holders was RMB 2,777,298 thousand, a decrease of 12.8% from RMB 3,186,993 thousand in 2020[7] - Operating profit margin decreased to 17.0% in 2021 from 22.3% in 2020[7] - Cash generated from operating activities was RMB 3,553,072 thousand, slightly up from RMB 3,509,672 thousand in 2020[9] - The company's revenue for the year was RMB 24,659,544,000, an increase of 18.0% compared to the previous year[32] - The gross profit for the year was RMB 7,259,549,000, which is a 4.2% increase from RMB 6,964,665,000 in 2020[45] - The operating profit decreased by 9.9% to RMB 4,198,280,000, down from RMB 4,659,112,000 in the previous year[45] - The total sales cost as a percentage of revenue increased to 70.6%, up 3.9 percentage points from 66.7% in the previous year[47] Production and Sales - The cement production volume reached 15 million tons, up 10% from the previous year[1] - Cement sales volume increased to 55,832 thousand tons in 2021, up from 51,250 thousand tons in 2020, representing a growth of 9.1%[10] - The average selling price of cement rose to RMB 362.0 per ton in 2021, compared to RMB 330.7 per ton in 2020, an increase of 9.5%[10] - The total sales of cement reached 55,832 thousand tons, representing an increase of 8.9% year-on-year[32] - High-grade cement sales reached 52,099 thousand tons, a year-on-year increase of 14.8%, while low-grade cement sales dropped to 3,733 thousand tons, a decrease of 36.4%[41] - The sales volume of concrete increased by 26.4% to 3,553 thousand cubic meters[37] - The average selling price of concrete decreased by 6.0% to RMB 427.2 per cubic meter[37] Market Expansion and Strategy - The company plans to expand its market presence in the northeastern region of China, targeting a 25% market share by 2025[1] - New product lines, including eco-friendly cement, are expected to contribute an additional RMB 500 million in revenue in the next fiscal year[1] - A strategic partnership with local construction firms is anticipated to enhance project delivery efficiency by 30%[1] - The company aims to achieve a 10% reduction in production costs through operational efficiencies by the end of 2022[1] - Plans for potential acquisitions in the Shandong region are under consideration to bolster market position[1] - The management has provided a revenue guidance of RMB 12 billion for the next fiscal year, reflecting a growth target of 14%[1] Financial Position and Assets - Total assets increased to RMB 28,963,687 thousand in 2021, up from RMB 27,677,443 thousand in 2020[8] - The debt-to-equity ratio improved to 5.6% in 2021 from 13.9% in 2020, indicating a stronger financial position[8] - The group's total liabilities decreased by 13.4% to RMB 10,209,805,000 from RMB 11,795,426,000 in the previous year[53] - The net capital debt ratio improved to 5.6%, a decrease of 8.3 percentage points compared to 13.9% in 2020[53] - The cash and cash equivalents balance at the end of the year was RMB 1,423,171,000, reflecting a net change of RMB 16,028,000[58] Operational Capacity - As of December 31, 2021, the total cement production capacity of the group is 94,790 thousand tons, and the total clinker production capacity is 50,472 thousand tons[15] - The Shandong region has the highest cement capacity at 51,470 thousand tons and clinker capacity at 25,928 thousand tons[15] - The Northeast operational area has a cement capacity of 27,250 thousand tons and clinker capacity of 14,304 thousand tons[15] - The group operates multiple production facilities across Shandong, Liaoning, Inner Mongolia, Shanxi, Shaanxi, and Xinjiang regions[16] Research and Development - The company has allocated RMB 300 million for research and development of new technologies in cement production[1] - The group continues to explore new technologies and products to enhance its competitive edge in the cement industry[20] - The company is committed to developing new technologies and products to improve its competitive edge in the cement industry[27] Environmental and Regulatory Considerations - The implementation of "dual carbon" policies is anticipated to significantly impact the cement industry, promoting low-carbon development and industry upgrades[72] - The company plans to enhance its carbon reduction technology investments and participate actively in the carbon trading market[72] - The company aims to implement technology upgrades to improve energy efficiency and reduce emissions, aligning with the industry's dual carbon goals[78] Corporate Governance - The company has adopted the corporate governance code principles and has committed to maintaining high standards of corporate governance[150] - The board of directors consists of 3 executive directors and 3 independent non-executive directors, ensuring a balanced and independent governance structure[155] - The company has established a code of conduct for directors regarding securities trading, which all directors confirmed compliance with during the reporting period[153] - The Audit Committee consists of three independent non-executive directors, ensuring oversight of the company's financial reporting and risk management processes[167] Legal and Compliance Issues - The company is currently involved in significant litigation in the Cayman Islands, with a petition for liquidation filed by shareholder Tianrui International[191] - The company is actively defending against claims related to the cancellation of certain convertible bonds issued in 2018[193] - The ongoing litigation is expected to impact the company's operations and financial performance, although specific financial implications are not detailed in the provided documents[198]

SUNNSY CHINA SHANSHUI CEMENT GROUP LIMITED 中國山 水 水 泥 集 團 有 限 公 司 (於開曼群島註冊成立的有限公司) 股份代號：691 2021 中期報告 211 目 錄 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |---------------|-------|-------|-------------------------------|-------|-------|-------|-------|-------|-------|-------|-------|-------|-------|-------|-------|-------|-------|-------|-------|-------|-------|-------|-------|-------| | (I) | | | 釋義 . ...

SUNNSY CHINA SHANSHUI CEMENT GROUP LIMITED 中國山 水 水 泥 集 團 有 限 公 司 ( 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ) 股份代號：691 2020 年報 錄 | --- | --- | --- | |-------|----------------------------------------------------------------|-------| | (I) | 釋義 . | 2 | | (II) | 公司信息 | 4 | | (III) | 財務及業務數據摘要 . | 6 | | (IV) | 公司概况 | 8 | | (V) | 管理層研討與分析 | 20 | | (VI) | 董事會報告 . | 41 | | (VII) | 股本及主要股東、董事持股情況 . | 48 | | | (VIII) 董事·高級管理層及員工基本資料 | 54 | | (IX) | 企業管治報告 . | 62 | | (X) | 重要事項 . | 83 | | (XI) | 獨立核數師報告 | 91 | | | (XII) 綜合損益表 | | ...

CHINA SHANSHUI CEMENT GROUP LIMITED 中國山 水 水 泥 集 團 有 限 公 司 ( 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ) SUNNSY 股份代號：691 2020 中期報告 the world and and | --- | --- | --- | |-------|------------------------------------|-------| | | | | | 目 | 錄 | | | | | | | (I) | 釋義 | 2 | | (II) | 公司信息 | 4 | | (III) | 主要數據 | 6 | | (IV) | 管理層討論與分析 | 7 | | (V) | 股本及主要股東·董事持股情況 . | 25 | | (VI) | 重要事項 | 31 | | (VII) | 中期財務報告(未經審核) (VIII) 其他 | 38 | 中 國 山 水 水 泥 集 團 有 限 公 司 • 2 0 2 0 中 期 報 告 1 (I) 釋 義 於本中期報告內，除非文義另有所指，否則下列字句具有以下涵義： | --- | --- | --- ...

SUNNSY CHINA SHANSHUI CEMENT GROUP LIMITED 中國山 水 水 泥 集 團 有 限 公 司 ( 於 開 曼 群 島 註 冊 成 立 的 有限 公 司 ) 股份代號：691 2019 年報 Comment Comment 目 錄 | --- | --- | --- | |-------|-----------------------------------------------------------------|-------| | | | | | (I) | 釋義 . | 2 | | (II) | 公司信息 | 4 | | (III) | 財務及業務數據摘要 | 6 | | (IV) | 公司概况 | 8 | | (V) | 管理層研討與分析 | 19 | | (VI) | 董事會報告 . | 41 | | (VII) | 股本及主要股東、董事持股情況 . | 49 | | | (VIII) 董事·高級管理層及員工基本資料 | 55 | | (IX) | 企業管治報告 . | 63 | | (X) | 重要事項 . | 84 | | (XI) | 獨立核數師報告 | ...

SUNNSY CHINA SHANSHUI CEMENT GROUP LIMITED 中國山 水 水 泥 集 團 有 限 公 司 ( 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ) 股份代號：691 2019 中期報告 and and and and and the see and | --- | --- | --- | --- | |-------|-------|-------------------------------|-------| | | ll | 錄 | | | | (I) | 釋義 | 2 | | | (II) | 公司信息 | 4 | | | (III) | 主要數據 | 6 | | | (IV) | 管理層討論與分析 | 7 | | | (V) | 股本及主要股東·董事持股情況 . | 24 | | | (VI) | 重要事項 | 31 | | | (VII) | 中期財務報告(未經審核) | 39 | | | | (VIII) 其他 . | 87 | 中 國 山 水 水 泥 集 團 有 限 公 司 • 2 0 1 9 中 期 報 告 1 (I) 釋 義 於本中期報告內，除 ...

SUNNSY CHINA SHANSHUI CEMENT GROUP LIMITED 中 國 山 水 水 泥 集 團 有 限 公 司 ( 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ) 股份代號：691 2018 年報 the world and a works 錄 釋義 . (I) 2 公司信息 (II) 4 財務及業務數據摘要. (III) 6 公司概况 (IV) 8 (V) 管理層研討與分析 19 (VI) 董事會報告 . 40 股本及主要股東·董事持股情況 . (VII) 47 (VIII) 董事·高級管理層及員工基本資料 54 企業管治報告 . (IX) 65 重要事項 (X) 89 (XI) 獨立核數師報告 105 (XII) 綜合損益表 . 116 (XIII) 綜合損益及其他綜合收益表 ... 117 (XIV) 綜合資產負債表 118 (XV) 綜合權益變動表 . . 120 (XVI) 綜合現金流量表 . 121 (XVII) 綜合財務報表附註. 123 中 國 山 水 水 泥 集 團 有 限 公 司 • 2 0 1 8 年 報 1 (I) 釋 義 「本公司」或「公司」或 「中 ...