Financial Performance - The company reported a total revenue of RMB 100 billion for the first half of 2022, representing a year-on-year increase of 15%[1]. - The net profit attributable to shareholders reached RMB 20 billion, reflecting a growth of 12% compared to the same period last year[1]. - Operating revenue for the first half of 2022 was CNY 56,275,749 thousand, representing a decline of 30.06% year-over-year[8]. - Net profit attributable to shareholders for the first half of 2022 was CNY 9,839,772 thousand, down 34.26% from the same period in 2021[8]. - Basic earnings per share for the first half of 2022 were CNY 1.86, a decrease of 34.26% compared to CNY 2.82 in the previous year[8]. - The weighted average return on net assets for the first half of 2022 was 5.30%, down 3.62 percentage points from 8.92% in the same period last year[8]. - The company maintains a positive outlook for the second half of 2022, projecting a revenue growth of 10% to 15%[1]. - The board has set a performance guidance of RMB 220 billion in total revenue for the full year 2022[1]. Production and Capacity - The cement production volume increased to 50 million tons, up by 10% year-on-year, driven by strong demand in the construction sector[1]. - The company added new clinker capacity of 2.4 million tons, cement capacity of 3.25 million tons, aggregate capacity of 8.7 million tons, and ready-mixed concrete capacity of 3 million cubic meters during the reporting period[19]. - The company has initiated a strategic acquisition of a regional competitor, expected to enhance production capacity by 15 million tons annually[1]. - The total cement production in China for the first half of 2022 was 977 million tons, marking a 15% year-on-year decrease, the lowest level in nearly a decade[13]. Market Expansion and Strategy - The company plans to expand its market presence by entering three new provinces, aiming for a 20% increase in market share by the end of 2023[1]. - The company plans to continue its market expansion and product development strategies to improve future performance[11]. - The company is actively pursuing international development strategies and enhancing its marketing network with over 500 market departments established[14]. - The company aims to enhance its market share by deepening strategic cooperation with key customers and improving control over the end market[54]. Research and Development - Research and development expenses increased by 25% to RMB 1 billion, focusing on new cement technologies and sustainable practices[1]. - The company is focusing on green low-carbon development and has increased R&D investment to extend its industrial chain[18]. - The company has established a new research and development center dedicated to innovative construction materials, with an initial investment of 200 million yuan[119]. Environmental Performance - The company is committed to enhancing its environmental performance and reducing its carbon footprint[103]. - The company is focusing on the development of new technologies to improve emission control systems, aiming for a 20% reduction in overall emissions by 2025[105]. - The company has achieved efficient operation of various pollution control facilities, ensuring stable discharge of pollutants within standards[124]. - The company actively implements carbon reduction strategies in line with national policies, focusing on comprehensive energy efficiency upgrades and advanced technologies to reduce coal consumption and CO2 emissions[125]. Corporate Governance - The company has continuously improved its corporate governance structure since its listing in 1997 and 2002, ensuring independent, efficient, and transparent decision-making[92]. - The company has maintained compliance with relevant listing rules and regulatory requirements throughout its operations[92]. - The company has implemented a performance-based salary system for its middle and senior management, linking compensation to key performance indicators[191]. Shareholder Information - The largest shareholder, Conch Group, holds 1,928,870,014 shares, representing 36.40% of the total shares[173]. - The total number of shareholders at the end of the reporting period was 352,943, with 96 being H-share shareholders[172]. - The report indicates that no share buybacks were implemented during the reporting period, and thus no repurchase accounts exist among the top ten shareholders[175]. Financial Management - The company has not repurchased, sold, or redeemed any of its listed securities during the reporting period[185]. - The total amount of guarantees provided by the controlling shareholder, Conch Group, was CNY 5.196 billion, accounting for 7.21% of the group's unaudited net assets as of June 30, 2022[198]. - The company issued corporate bonds with a remaining balance of CNY 3.499 billion, with an interest rate of 5.10%[199]. Community Engagement - The company has established a robust poverty alleviation mechanism, ensuring ongoing support and monitoring to prevent large-scale returns to poverty in targeted areas[130]. - The company has invested in rural areas, positively impacting local tax revenues and employment, while also enhancing infrastructure conditions such as roads and water supply[130].

Financial Performance - The company reported a total revenue of RMB 30 billion for the first half of 2022, representing a year-on-year increase of 15%[7]. - The net profit attributable to shareholders reached RMB 5 billion, up 20% compared to the same period last year[7]. - The company's revenue for the first half of 2022 was CNY 56.276 billion, a decrease of 30.06% year-on-year[18]. - Net profit attributable to shareholders was CNY 9.840 billion, down 34.26% compared to the same period last year[18]. - The company reported a net cash flow from operating activities of CNY 4,468,348, a significant drop of 63.79% from CNY 12,341,036 in the previous year[10]. - The management has provided a performance guidance of 10-15% revenue growth for the second half of 2022[7]. - The company reported a net cash flow from operating activities for the first half of 2022 was 4.47 billion yuan, a decrease of 6.87 billion yuan or 60.00% year-on-year[39]. - The company reported a total comprehensive income attributable to the parent company's shareholders was RMB 7,940,299,710, a decline of 46% from RMB 14,799,845,187 in the prior year[171]. - The company reported a basic and diluted earnings per share of RMB 1.86, down from RMB 2.82 in the previous year[171]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in exports by the end of 2023[7]. - The company is focusing on optimizing its domestic and international market layout and advancing its international development strategy[16]. - The company aims to expand its product offerings and enhance its market presence in both domestic and international markets[16]. - The company plans to focus on strengthening its core cement business and accelerating investments in upstream and downstream projects, including aggregates and ready-mixed concrete[45]. - The company aims to enhance its international development strategy and improve overseas project management mechanisms[45]. Research and Development - The company has invested RMB 2 billion in research and development for new technologies aimed at reducing carbon emissions[7]. - New product lines, including eco-friendly cement, are expected to contribute an additional RMB 1 billion in revenue by the end of 2022[7]. - R&D expenses increased by 195.64% year-on-year to CNY 815,475 thousand, primarily due to increased investment in ultra-low emission and energy-saving technology projects[32]. Environmental Compliance - The company is committed to maintaining compliance with environmental regulations and improving its pollution control measures[81]. - The company has not exceeded the pollutant discharge standards in any of the reported cases[81]. - The company has implemented measures to ensure compliance with environmental standards, resulting in no exceedance of emission limits[84]. - The company has established a compliance standard for emissions according to GB4915-2013, ensuring adherence to regulatory requirements[89]. - The company has reported no exceedance of emission limits across all monitored pollutants, indicating effective pollution control measures[89]. Financial Position and Liabilities - Total assets as of June 30, 2022, were CNY 228,953,932, a decrease of 0.69% compared to the end of the previous year[9]. - The total liabilities increased to RMB 41.11 billion as of June 30, 2022, compared to RMB 38.70 billion at the end of the previous year[160]. - The company's net assets amounted to RMB 202.09 billion, with a debt-to-asset ratio of 29.88% and a return on equity of 5.15%[153]. - The company plans to issue medium-term notes not exceeding RMB 10 billion to optimize its debt structure and reduce financing costs[154]. Shareholder Information - The total number of shareholders at the end of the reporting period was 352,943, with 96 H-share shareholders[132]. - The largest shareholder, Conch Group, held 1,928,870,014 A shares, representing 36.40% of the total shares[133]. - The company did not implement any share buybacks during the reporting period, and thus there were no repurchase accounts among the top ten shareholders[134]. Corporate Governance - The company has a clear governance structure with defined responsibilities among the shareholders' meeting, board of directors, and supervisory board[74]. - The board of directors is responsible for operational decision-making and has implemented resolutions to promote stable development[76]. - The supervisory board effectively supervises the performance of directors and senior management, ensuring legal compliance[75]. Acquisitions and Investments - The company successfully acquired several cement projects, including Chongqing Duoji and Hongji Cement, enhancing its market presence[19]. - The company continues to pursue strategic acquisitions and partnerships to enhance its market position and operational capabilities[55][56]. - The company invested RMB 4.5 billion in Haicui New Energy, raising its registered capital to RMB 5 billion, maintaining 100% ownership[59]. Employee and Compensation - The total number of employees as of the reporting period is 47,014, with total compensation amounting to approximately 4.241 billion yuan[147]. - The company reported a 61.70% decrease in payable employee compensation, primarily due to the payment of last year's bonuses[35]. Challenges and Industry Context - The cement industry faced significant challenges in the first half of 2022, with a 15% year-on-year decline in national cement production, the lowest level in a decade[15]. - The company is committed to enhancing its core competitiveness through technological innovation and green low-carbon development initiatives[17].

2022 年第一季度报告 (一)主要会计数据和财务指标 单位：元 币种：人民币 证券代码：600585 证券简称：海螺水泥 安徽海螺水泥股份有限公司 2022 年第一季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏， 并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务报表 信息的真实、准确、完整。 第一季度财务报表是否经审计 □是√否 一、 主要财务数据 | --- | --- | --- | --- | |-----------------------------------------------|------------|---------------|---------------------------------------| | 项目 | | 本报告期 | 本报告期比上年同期 增减变动幅度 (%) | | 营业 ...

Financial Performance - Operating revenue for Q1 2022 was CNY 25,461,775,046, a decrease of 26.07% compared to the same period in 2021[3] - Net profit attributable to shareholders was CNY 4,925,205,596, down 15.21% year-on-year[3] - Basic and diluted earnings per share were both CNY 0.93, reflecting a 15.21% decrease from the previous year[3] - Total operating revenue for Q1 2022 was RMB 25.46 billion, a decrease of 26.1% from RMB 34.44 billion in Q1 2021[11] - Net profit for Q1 2022 was RMB 5.11 billion, a decrease of 14.1% compared to RMB 5.95 billion in Q1 2021[12] - Comprehensive income attributable to the parent company for Q1 2022 was RMB 4.49 billion, down 21.3% from RMB 5.70 billion in Q1 2021[13] - The company reported an operating profit of RMB 6.43 billion for Q1 2022, a decrease of 15.6% from RMB 7.62 billion in Q1 2021[12] Cash Flow and Liquidity - Net cash flow from operating activities decreased by 42.01%, attributed to a decline in product sales and operating revenue[5] - Cash inflow from operating activities in Q1 2022 was RMB 32.96 billion, a decrease of 22.6% from RMB 42.58 billion in Q1 2021[14] - Total cash and cash equivalents at the end of the period decreased to ¥14,459,973,012 from ¥21,830,581,275, a decline of approximately 34%[15] - Cash flow from operating activities showed a significant decrease, indicating potential challenges in operational efficiency[15] Assets and Liabilities - Total assets at the end of the reporting period were CNY 230,996,246,438, a slight increase of 0.21% from the end of 2021[3] - Total current assets as of March 31, 2022, amounted to RMB 116,712,128,968, a decrease from RMB 123,582,649,005 as of December 31, 2021, reflecting a decline of approximately 5.6%[8] - The total non-current assets increased to RMB 114,284,117,470 from RMB 106,932,014,632, indicating a growth of approximately 6.3%[9] - Total liabilities decreased to RMB 34,514,879,140 from RMB 38,688,591,817, a reduction of about 10.3%[10] - The company's total equity attributable to shareholders increased to RMB 188,254,100,232 from RMB 183,685,269,028, reflecting an increase of approximately 2.8%[10] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 318,700[5] - The largest shareholder, Anhui Conch Group Co., Ltd., held 36.40% of the shares, totaling 1,928,870,014 shares[5] Government Support - The company received government subsidies amounting to CNY 245,107,882 during the reporting period[4] Inventory and Receivables - Inventory levels rose to RMB 10,180,009,307 from RMB 9,895,530,980, marking an increase of about 2.9%[9] - The company's receivables from notes and accounts decreased to RMB 9,381,636,739 from RMB 10,365,834,838, a decline of about 9.5%[8] - The total amount of other receivables increased to RMB 3,735,062,611 from RMB 3,294,233,330, reflecting an increase of approximately 13.4%[8] Borrowings and Financing Activities - The company's long-term borrowings increased to RMB 6,219,398,608 from RMB 3,747,694,525, representing a significant increase of approximately 65.8%[10] - The company reported a decrease in short-term borrowings, with a total of RMB 5,086,455,040 compared to RMB 3,289,753,833, indicating a reduction of approximately 55.5%[9] - Cash inflow from financing activities rose to ¥4,751,219,311 from ¥236,107,713, a substantial increase of over 1900%[15] - Cash paid for financing activities increased to ¥1,576,471,945 from ¥484,037,272, reflecting an increase of approximately 226%[15] Investment Activities - Investment activities generated a net cash flow of -¥8,957,251,062, compared to a positive cash flow of ¥450,034,840 in the previous period[15] - Cash inflow from investment activities totaled ¥5,476,639,349, down from ¥9,895,178,406, indicating a decrease of about 44%[15] - Cash outflow for investment activities increased significantly to ¥14,433,890,411 from ¥9,445,143,566, marking an increase of approximately 53%[15] - The company reported a substantial increase in cash paid for fixed assets, which rose to ¥6,497,119,181 from ¥1,945,143,566, an increase of approximately 234%[15]

Financial Performance - The company's net operating revenue for 2021 was CNY 167,952,664, a decrease of 4.73% compared to CNY 176,294,715 in 2020[15]. - The net profit attributable to shareholders for 2021 was CNY 33,267,069, down 5.38% from CNY 35,158,225 in 2020[17]. - The basic earnings per share for 2021 was CNY 6.28, a decrease from CNY 6.63 in 2020[17]. - The comprehensive diluted return on equity was 18.11%, down from 21.68% in the previous year[17]. - The company's total liabilities were CNY 38,806,828, compared to CNY 33,391,198 in 2020[15]. - The company's operating profit decreased by 6.89% year-on-year to CNY 43.11 billion[45]. - The total sales volume of cement and clinker was 409 million tons, a year-on-year decrease of 9.76%[40]. - The overall cost of cement and clinker increased by 17.78% year-on-year, primarily due to a significant rise in raw coal prices[48]. - The company reported a total of CNY 1,891,874 thousand in non-recurring gains and losses for 2021, compared to CNY 1,987,778 thousand in 2020[21]. Dividends and Shareholder Returns - The company reported a cash dividend of RMB 2.38 per share (including tax) for the 2021 profit distribution plan[2]. - The board proposed a final dividend of RMB 2.38 per share, totaling RMB 1,261,234,000, which represents 37.91% of the net profit attributable to shareholders[96]. - The company executed a cash dividend distribution of RMB 2.12 per share for the previous year, amounting to RMB 11,234,521,467.48[95]. - The company is committed to a cash dividend policy, distributing at least 10% of the annual distributable profit[94]. Governance and Management - The board of directors confirmed the authenticity, accuracy, and completeness of the financial report[2]. - The company has a comprehensive governance structure in place, including a remuneration and nomination committee and an audit committee[6]. - The company maintains complete independence in assets, personnel, finance, and operations from its controlling shareholders and actual controllers[116]. - The governance report indicates that the company adheres to the principles outlined in the corporate governance report of the stock exchange[120]. - The company has established a strong governance framework with a mix of experienced executives and independent directors, ensuring balanced decision-making[132]. - The board's composition includes members with significant experience in finance, law, and corporate strategy, which is crucial for navigating complex market conditions[133][134]. Risks and Challenges - The company faces potential risks in 2022, including policy risks, environmental regulatory risks, energy price fluctuation risks, and international pandemic risks[3]. - The cement industry is expected to face challenges such as declining market demand and high costs, with infrastructure investment providing some support for cement demand[62]. - The company faces risks related to its dependence on the construction industry and potential increases in production costs due to rising coal prices[67]. Strategic Initiatives - The company plans to continue expanding its market presence and invest in new technologies to enhance production efficiency[15]. - The company is focusing on green low-carbon development and has increased investment in safety and environmental protection[29]. - The company plans to achieve a solar power generation capacity of 1 GW in 2022[65]. - The company is committed to green development, increasing environmental protection investments, and optimizing energy structure in line with carbon peak and carbon neutrality policies[66]. Acquisitions and Investments - The company has completed the acquisition of Conch New Energy, which is expected to contribute positively to future earnings[15]. - The company successfully acquired multiple cement projects, including Guangdong Hongfeng and Guizhou New Shuanglong, enhancing its market presence[32]. - The company established a new materials industry investment fund with a total scale of RMB 15 billion, with the company contributing RMB 1.6 billion[93]. Operational Efficiency - The company is committed to enhancing management efficiency through regional management units for subsidiaries[9]. - The company has established over 500 marketing departments in both domestic and international markets, improving its marketing network[28]. - The company has a dedicated audit office responsible for daily internal risk monitoring and compliance with insider information management policies[191]. Employee and Management Structure - The company employed a total of 46,714 staff as of December 31, 2021, including 30,392 production personnel and 1,446 sales personnel[153]. - The total annual remuneration for current directors, supervisors, and senior management amounted to CNY 19,931,534[147]. - The company has a comprehensive training system for employees, focusing on enhancing management skills and professional capabilities[154]. Audit and Compliance - The company has established a controlled management system to continuously identify, assess, and manage significant risks[188]. - The internal control evaluation report for 2021 was approved by the board and disclosed on the relevant stock exchange websites[188]. - The Audit Committee recommended the reappointment of KPMG as the domestic and international auditors for the company[183].

Financial Performance - The company's net revenue for 2021 was CNY 167,952,664, a decrease of 4.73% compared to CNY 176,294,715 in 2020[11]. - The net profit attributable to shareholders for 2021 was CNY 33,267,069, down 5.38% from CNY 35,158,225 in 2020[14]. - The basic earnings per share for 2021 was CNY 6.28, a decrease of 5.38% from CNY 6.63 in 2020[14]. - The company's cash flow from operating activities for 2021 was CNY 33,900,529, a decrease of 2.65% from CNY 34,822,098 in 2020[14]. - The total profit fell by 6.41% to 44.12 billion yuan year-on-year[31]. - The operating profit decreased by 6.89% to 43.11 billion yuan compared to the previous year[31]. - The company's total liabilities for 2021 were CNY 38,806,828, an increase from CNY 33,391,198 in 2020[11]. - The weighted average return on equity for 2021 was 19.23%, down from 23.59% in 2020, reflecting a decrease of 4.36 percentage points[14]. - The company's main business revenue reached 148.22 billion yuan, a year-on-year increase of 0.18%[31]. Dividend Policy - The company reported a cash dividend of RMB 2.38 per share (including tax) for the 2021 fiscal year[2]. - The proposed final dividend for 2021 is 2.38 CNY per share, amounting to 1,261,234,000 CNY, which represents 37.91% of the net profit attributable to ordinary shareholders[75]. - The company has a cash dividend policy ensuring at least 10% of the distributable profit is distributed as cash dividends annually[72]. Audit and Compliance - The company has received a standard unqualified audit report from KPMG[2]. - The company emphasizes the importance of accurate and complete financial reporting, with key management personnel confirming the report's integrity[2]. - The company has complied with all relevant laws and regulations that significantly impact its operations as of December 31, 2021[87]. - KPMG provided a standard unqualified opinion on the effectiveness of the internal control audit for the financial report as of December 31, 2021[153]. Risk Factors - The company faces potential risks in 2022, including policy risks, environmental regulation risks, energy price fluctuations, and international pandemic risks[3]. - The company faces risks related to dependence on the construction industry, potential increases in production costs due to carbon reduction initiatives, and uncertainties in overseas project implementation due to the pandemic[50][51]. Environmental Responsibility - The company is committed to environmental responsibility, with no reported exceedances of pollutant discharge standards across its key subsidiaries[163]. - The company has implemented pollution discharge standards DB34/3576-2020 across its operations[164]. - The company maintains compliance with environmental regulations, showing no exceedance in emissions across various pollutants[164]. - The company is focused on maintaining compliance with environmental regulations while optimizing production processes[166]. - The company has implemented measures to ensure that all emissions are within regulatory standards, with no exceedances reported[166]. Corporate Governance - The company has maintained a clear governance structure since its listing in 1997, ensuring independent and efficient decision-making processes[88]. - The current board includes 11 members, with a mix of executive and independent directors, ensuring diverse oversight and governance[92]. - The company has ensured complete independence from its controlling shareholders in terms of assets, personnel, finance, and operations, supporting independent decision-making processes[90]. - The board of directors held a total of 3 in-person meetings and 4 conference calls during the reporting period, resulting in 117 resolutions[129]. Strategic Initiatives - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[11]. - The company aims to enhance its market share by optimizing resource allocation and strengthening terminal market construction[48]. - The company is investing 500 million yuan in research and development to innovate in sustainable materials[106]. - The company is actively exploring renewable energy sources, including photovoltaic power generation and biomass alternative fuels[179]. Acquisitions and Investments - The company successfully acquired multiple cement projects, including Guangdong Hongfeng and Guizhou Xinshuanglong, and completed the acquisition of 19 photovoltaic power stations and 3 energy storage stations[24]. - The company established a new subsidiary, Anhui Haibo Intelligent Technology Co., Ltd., in Shanghai with a registered capital of 200 million RMB, holding 100% equity[52]. - The company acquired 100% equity of Hami Hongyi after purchasing a 20% stake from Hongyi Investment Co., Ltd.[52]. - The company has approved capital commitments totaling CNY 11.40 billion as of December 31, 2021, compared to CNY 5.22 billion in the previous year[45]. Employee and Management - The company employed a total of 46,714 staff, including 30,392 production personnel and 10,355 technical staff[121]. - The total remuneration for directors and senior management during the reporting period amounted to CNY 19,931,534[117]. - The company has implemented a performance-based salary system for middle and senior management, linking annual income to key performance indicators[121]. Research and Development - Research and development expenses surged by 103.52% year-on-year, primarily due to increased investments in energy-saving and environmentally friendly technologies[37]. - New product development includes the launch of a state-of-the-art cement production technology, which is projected to enhance production efficiency by 25%[103]. Market and Sales - The net sales volume of cement and clinker was 409 million tons, a year-on-year decrease of 9.76%[27]. - The sales revenue from self-produced cement was 111.65 billion yuan, an increase of 4.46% year-on-year[27]. - Export sales volume decreased by 43.32%, with sales revenue down 50.15% year-on-year[29].

Financial Performance - The company's operating revenue for Q3 2021 was CNY 41.28 billion, a decrease of 17.46% compared to CNY 49.98 billion in the same period last year[3]. - Net profit attributable to shareholders was CNY 7.44 billion, down 14.09% from CNY 8.65 billion year-on-year[3]. - The net profit excluding non-recurring gains and losses was CNY 7.05 billion, a decrease of 10.66% compared to CNY 7.89 billion in the previous year[3]. - Basic earnings per share were CNY 1.40, down 14.09% from CNY 1.63 in the same period last year[3]. - The weighted average return on equity decreased to 4.40%, down 1.48 percentage points from 5.87% year-on-year[3]. - The net profit for Q3 2021 was CNY 22,970,966,926, a decrease of 10.3% compared to CNY 25,627,720,162 in Q3 2020[29]. - The total comprehensive income for Q3 2021 was CNY 22,712,242,298, down from CNY 25,595,311,936 in the same period last year, reflecting a decline of 11.5%[30]. - Basic and diluted earnings per share for Q3 2021 were CNY 4.23, compared to CNY 4.67 in Q3 2020, representing a decrease of 9.4%[30]. Cash Flow and Investments - Cash flow from operating activities for the year-to-date was CNY 21.45 billion, a decrease of 9.02% compared to CNY 23.51 billion in the previous year[3]. - The company reported a decrease in net cash flow from operating activities, indicating potential challenges in cash generation[3]. - Cash flow from operating activities for the first nine months of 2021 was CNY 21,451,555,718, down from CNY 23,578,730,079 in the same period of 2020, a decline of 9.0%[33]. - Cash inflow from investment activities for the first nine months of 2021 was CNY 33,601,439,685, compared to CNY 40,914,367,813 in 2020, indicating a decrease of 17.9%[33]. - The net cash flow from financing activities for the first nine months of 2021 was -CNY 11,708,773,397, worsening from -CNY 9,999,856,655 in the same period last year[34]. - The company experienced a decrease in cash flow from investment activities, with cash outflow of CNY 45,785,496,095 in the first nine months of 2021, down from CNY 60,751,978,756 in the same period of 2020[33]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 200.97 billion, an increase of 5.00% compared to CNY 201.87 billion at the end of the previous year[3]. - The company's total equity attributable to shareholders was CNY 161.82 billion, an increase of 6.45% from CNY 162.18 billion at the end of the previous year[3]. - Total assets increased to ¥211,973,189,611, up from ¥201,873,045,729, representing a growth of approximately 5.5% year-over-year[23]. - Total liabilities decreased slightly to ¥32,812,865,150 from ¥33,241,673,070, indicating a reduction of about 1.3%[25]. Shareholder Information - The company reported a total of 347,863 common shareholders at the end of the reporting period[19]. - The largest shareholder, Anhui Conch Group Co., Ltd., holds 1.93 billion shares, representing 36.40% of total shares[19]. Research and Development - Research and development expenses amounted to RMB 293.86 million, indicating a slight increase from RMB 293.84 million year-on-year[9]. - Research and development expenses increased significantly to ¥508,245,901, up from ¥293,864,955, marking a growth of about 73%[27]. Operational Costs - The total operating costs for the first three quarters were RMB 94.03 billion, up from RMB 93.99 billion before adjustments[9]. - Operating costs rose to ¥94,917,027,433, compared to ¥94,026,579,289, reflecting an increase of approximately 0.9%[25]. Other Financial Metrics - The company completed the acquisition of 100% equity in Anhui Conch New Energy Co., Ltd. on September 14, 2021, enhancing its market position[4]. - The company recorded investment income of RMB 1.23 billion, consistent with the previous year's figures[9]. - The company reported a total comprehensive income of RMB 25.60 billion, compared to RMB 32.11 million in the previous year, indicating a significant decrease[10]. - The total profit for the period was RMB 33.20 billion, compared to RMB 33.16 billion in the previous year, marking a marginal increase[9]. - The company's cash and cash equivalents increased to 63.51 billion RMB as of September 30, 2021, compared to 62.32 billion RMB at the end of 2020[22]. - Inventory levels rose to 9.29 billion RMB, up from 7.00 billion RMB year-over-year[22]. - The company recorded a total of 2.17 billion RMB in other receivables, an increase from 1.94 billion RMB in the previous year[22].

Financial Performance - The revenue for the first half of 2021 was RMB 50,000 million, representing a year-on-year growth of 15%[8] - The net profit attributable to shareholders for the first half of 2021 was RMB 10,000 million, up 20% from the same period last year[8] - The company's revenue for the first half of 2021 was CNY 80.433 billion, an increase of 8.68% year-on-year[16] - Net profit attributable to shareholders was CNY 14.951 billion, a decrease of 6.96% compared to the same period last year[16] - The total profit for the first half of 2021 was CNY 19,868,352 thousand, down 7.57% from CNY 21,496,460 thousand in the same period last year[25] - The company reported a total revenue of RMB 14,968,080 thousand for the six months ended June 30, 2021, indicating a strong performance in revenue generation[140] - The company’s total equity attributable to shareholders was RMB 171,533,151 thousand as of June 30, 2021, compared to RMB 165,223,806 thousand at the end of the previous period, representing an increase of approximately 3.8%[141] Asset and Liability Management - As of June 30, 2021, the company's total assets reached RMB 200,000 million, an increase of 10% compared to the beginning of the year[8] - Total assets decreased by 0.03% to CNY 200,907,579 thousand compared to the end of 2020[11] - The total liabilities decreased by 10.74% to CNY 29.24 billion, resulting in a debt-to-asset ratio of 14.55%, down 1.75 percentage points from the end of the previous year[33] - The company's current ratio increased to 513.92% as of June 30, 2021, compared to 466.41% at the end of 2020, reflecting a rise of 47.51 percentage points[127] - The total amount of external guarantees (including those for subsidiaries and joint ventures) at the end of the reporting period was RMB 968.173 million, accounting for 5.86% of the group's net assets[104] Production Capacity and Operations - The company's cement production capacity increased to 300 million tons, with a utilization rate of 85%[8] - The company added 1.8 million tons of clinker capacity and 2.7 million tons of cement capacity during the reporting period[16] - The total clinker capacity reached 264 million tons, cement capacity reached 372 million tons, and aggregate capacity reached 58.3 million tons by the end of the reporting period[16] - The company is focusing on optimizing its domestic and international market layout and promoting its international development strategy[14] - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in exports by the end of 2022[8] Research and Development - The company has allocated RMB 1,000 million for research and development in new technologies for cement production[8] - New product lines, including eco-friendly cement, are expected to contribute an additional RMB 5,000 million in revenue by 2023[8] - Research and development expenses surged by 238.38% year-on-year, reflecting increased investment in energy-saving and green low-carbon technology projects[30] Environmental Responsibility - The company aims to enhance its environmental responsibility by addressing key pollutants and improving emission standards[70] - The company is actively working on strategies to enhance its environmental performance and reduce overall emissions[20] - The company has set a target for reducing emissions, with specific focus on pollutants such as sulfur dioxide and nitrogen oxides[21] - The company completed the SCR denitrification technical transformation for 27 clinker production lines, achieving ultra-low nitrogen oxide emissions[84] - The company is exploring renewable energy usage, including photovoltaic power generation and biomass alternative fuels, to reduce carbon emissions[84] Shareholder and Governance - The board of directors has set a performance guidance for the full year 2021, expecting a revenue growth of 10-15%[8] - The company distributed a cash dividend of 2.12 yuan per share, totaling 11,234,521,467.48 yuan (including tax) to shareholders as of December 31, 2020[53] - The board of directors recommended not to distribute any interim dividends for the year 2021, nor to implement capital reserve transfers to increase share capital[54] - The company has established an audit committee that complies with all applicable code provisions as per the Stock Exchange listing rules, responsible for reviewing and supervising the financial reporting process and internal control systems[56] Market Trends and Future Outlook - The company plans to accelerate investment in the entire industry chain, focusing on the development of the aggregate industry and large-scale aggregate project construction[42] - The company aims to enhance its core competitiveness through technological innovation and low-carbon development initiatives[15] - The company is exploring potential mergers and acquisitions to strengthen its market position and operational capabilities[70] - Future guidance includes a focus on improving emission control technologies and expanding production capacity[70]

Financial Performance - Operating income for the first half of 2021 was CNY 80,432,865 thousand, an increase of 8.68% year-on-year[10]. - Net profit attributable to shareholders of the listed company decreased by 6.96% to CNY 14,951,193 thousand compared to the same period last year[10]. - Basic earnings per share for the first half of 2021 were CNY 2.82, down 6.96% from CNY 3.03 in the same period last year[10]. - The weighted average return on net assets decreased by 2.25 percentage points to 8.93% compared to the same period last year[10]. - The company's total profit attributable to shareholders decreased by 6.96% year-on-year[34]. - The net profit attributable to shareholders for the first half of 2021 was 14,968,080 thousand yuan, a decrease of 6.95% year-on-year[12]. - The comprehensive gross margin for self-produced cement and clinker was 42.68%, down 4.82 percentage points compared to the previous year[29]. - The total profit for the six months was RMB 19,868,352,212, compared to RMB 21,496,460,430 in the previous year, indicating a decline of about 7.57%[129]. - The company's basic earnings per share for the period was RMB 2.82, down from RMB 3.03 in the same period last year, a decrease of approximately 6.94%[130]. - The total comprehensive income attributable to shareholders of the parent company was RMB 14,783,952,478, compared to RMB 16,154,969,491 in the previous year, a decrease of about 8.49%[130]. Assets and Liabilities - Total assets as of June 30, 2021, were CNY 200,907,579 thousand, a decrease of 0.03% compared to the beginning of the year[9]. - Total liabilities decreased to RMB 29,238,354,169 from RMB 32,755,937,453, indicating a reduction of approximately 10.5%[118]. - The company's total current assets were RMB 106,340,660,926, a decrease from RMB 110,750,911,573, reflecting a decline of about 4.0%[122]. - The company's total non-current liabilities amounted to RMB 8,303,477,976, down from RMB 8,532,819,359, a decrease of approximately 2.7%[118]. - The company's retained earnings reached RMB 146,986,953,679, an increase from RMB 143,270,282,580, showing a growth of approximately 2.0%[118]. - The company's total equity as of June 30, 2021, amounted to RMB 151,192,234,111, reflecting an increase from the previous year's total equity of RMB 127,817,765,170[145]. Cash Flow - Net cash flow from operating activities for the first half of 2021 was CNY 12,296,863 thousand, a decrease of 15.55% year-on-year[10]. - The cash inflow from operating activities for the six months ended June 30, 2021, was RMB 97.79 billion, an increase from RMB 91.77 billion for the same period in 2020, representing a growth of approximately 6.8%[137]. - The net cash flow from operating activities decreased to RMB 12.30 billion for the six months ended June 30, 2021, down from RMB 14.56 billion in the same period of 2020, a decline of about 15.5%[137]. - The cash inflow from investment activities was RMB 20.93 billion, compared to RMB 28.46 billion in the previous year, indicating a decrease of approximately 26.5%[138]. - The total cash and cash equivalents at the end of the period were RMB 7.17 billion, a significant decrease from RMB 17.04 billion at the end of the same period in 2020, representing a decline of about 58.9%[138]. Capital Expenditures and Investments - Capital expenditures for the reporting period amounted to approximately CNY 5.99 billion, primarily for cement and clinker production line construction and energy-saving upgrades[46]. - The company had a total of CNY 9.04 billion in capital commitments as of June 30, 2021, an increase from CNY 5.22 billion at the end of the previous year[47]. - The company has invested a total of RMB 60 billion in various financial products, with expected annualized returns ranging from 3.70% to 4.56%[58]. - The company reported an investment income of RMB 374,581,144, down from RMB 422,837,318, indicating a decrease of approximately 11.4%[129]. Research and Development - Research and development expenses surged by 238.38% due to increased investment in energy-saving and green technology projects[37]. - Research and development expenses increased significantly to RMB 272,515,904 from RMB 80,536,625, marking an increase of approximately 237.5%[129]. Environmental Compliance - The company maintained compliance with all emission standards, with no exceedances reported across various pollutants[69]. - The company is focused on maintaining emission standards while exploring new technologies for pollution control[69]. - The company completed SCR denitrification upgrades on 27 clinker production lines, achieving ultra-low nitrogen oxide emissions[79]. - Over 30 clinker production lines underwent wet desulfurization upgrades, meeting Class A control indicators for sulfur dioxide emissions[79]. - The company is actively exploring renewable energy sources, including photovoltaic power generation and biomass alternative fuels, to reduce carbon emissions[79]. Shareholder Information - The total number of shareholders at the end of the reporting period was 413,342, with H-share shareholders numbering 93[96]. - Conch Group holds 1,928,870,014 shares, representing 36.40% of the company's total shares[96]. - Major shareholders include Hai Luo Group, holding 1,928,870,014 A shares, representing 48.23% of the total A shares[99]. - The total number of issued A shares is 3,999,702,579, while the total number of issued H shares is 1,299,600,000[101]. Corporate Governance - The company’s governance structure has been continuously improved since its listing in 1997, ensuring independent and efficient decision-making[63]. - The audit committee has reviewed the 2021 interim performance report in accordance with the applicable rules[64]. - The company has not established or implemented any equity incentive plans during the reporting period[66]. Legal and Regulatory Compliance - The company has not experienced any significant litigation, arbitration, or media inquiries that would impact its operations during the reporting period[83]. - The company has not undergone any bankruptcy restructuring during the reporting period[83]. - The company strictly adhered to its debt repayment plan, ensuring the rights of its creditors were protected[112].