CIMC ENRIC(03899)2022-09-07 08:31Financial Performance - Revenue for the first half of 2022 was RMB 8,948,693,000, representing a growth of 12.7% from RMB 7,940,016,000 in the same period of 2021[5] - Core profit rose by 34.5% to RMB 531,831,000, up from RMB 395,441,000 year-on-year[5] - Net profit for the period was RMB 453,619 thousand, a rise of 17.4% from RMB 386,305 thousand in 2021[11] - Basic earnings per share increased to RMB 0.219, up from RMB 0.195 in the same period last year[10] - The company reported a total comprehensive income of RMB 427,412 thousand for the period, slightly down from RMB 441,673 thousand in 2021[11] - The adjusted operating profit for the same period was RMB 660,527 thousand, up 14% from RMB 580,226 thousand in 2021[51] - The company recorded a profit of RMB 439.315 million for the six months ended June 30, 2022, compared to a profit of RMB 383.411 million for the same period in 2021, marking an increase of approximately 14.6%[19] Assets and Liabilities - Total assets increased by 9.8% to RMB 20,878,725,000 as of June 30, 2022, compared to RMB 19,024,673,000 at the end of 2021[5] - The total liabilities increased to RMB 12,200,215 thousand as of June 30, 2022, compared to RMB 10,524,996 thousand in 2021, reflecting a rise of 16%[54] - Non-current assets amounted to RMB 5,490,592 thousand, a marginal increase from RMB 5,441,478 thousand in the previous year[14] - The company’s net current assets were RMB 5,223,947 thousand, compared to RMB 5,071,926 thousand at the end of 2021[14] - The total equity attributable to the company's shareholders reached RMB 8,396.775 million as of June 30, 2022, compared to RMB 7,613.155 million at the end of June 2021, indicating an increase of approximately 10.3%[19] Cash Flow - Cash and cash equivalents increased significantly by 38.2% to RMB 4,384,547,000, compared to RMB 3,173,351,000 at the end of 2021[5] - Operating cash inflow for the six months ended June 30, 2022, was RMB 1,696,368 thousand, a significant improvement from a cash outflow of RMB 240,180 thousand in the same period of 2021[21] - Net cash from operating activities reached RMB 1,580,454 thousand, compared to a net cash outflow of RMB 408,780 thousand in the prior year[21] - The company incurred net cash outflow from investing activities of RMB 215,241 thousand, compared to RMB 137,624 thousand in the previous year[21] - The company paid dividends to shareholders totaling RMB 364,258 thousand, an increase from RMB 235,891 thousand in the same period of 2021[21] Market and Segment Performance - The clean energy segment's revenue slightly decreased by 4.8% to RMB 4,683,343,000, accounting for 52.3% of total revenue, down from 61.9% in 2021[119] - The chemical environment segment's revenue surged by 67.4% to RMB 2,550,409,000, representing 28.5% of total revenue, up from 19.2% in 2021[122] - The liquid food segment's revenue rose by 14.5% to RMB 1,714,941,000, making up 19.2% of total revenue, compared to 18.9% in 2021[122] - New orders signed in the first half of 2022 totaled RMB 10.7 billion, a 16.8% increase year-on-year[123] - The backlog of orders as of June 30, 2022, reached RMB 17.3 billion, a 41.7% increase compared to the same period last year[123] Research and Development - Research and development costs increased to RMB 217,949,000 in 2022 from RMB 196,686,000 in 2021, representing an increase of approximately 10.8%[61] - The group has initiated multiple R&D projects, including a 20-foot offshore low-temperature tank and a 1,500L large-volume LNG vehicle-mounted bottle[158] - The group successfully developed a 30MPa composite cylinder container and a 99MPa hydrogen storage system, maintaining market leadership in hydrogen storage and transportation[151] Shareholder and Stock Information - As of June 30, 2022, the major shareholder, China International Marine Containers (Group) Co., Ltd., holds 67.60% of the company's shares[180] - The total number of issued ordinary shares as of June 30, 2022, is 2,028,277,588[178] - The company granted a total of 120,370,000 stock options under the plan, with 29,941,000 options remaining unexercised[184] - The new stock option plan allows for a total of 193,660,608 options to be granted, representing 9.55% of the company's issued ordinary shares[188] Strategic Initiatives - The company aims to lead in clean energy, chemical environment, and liquid food sectors, focusing on technological advancement and product innovation[2] - The company plans to continue its market expansion and product development strategies, although specific new products or technologies were not detailed in the report[94] - The company is focusing on developing new products and technologies to support the low-carbon transformation in the liquor industry, with a target to reduce energy consumption per unit of industrial added value by 13.5% by 2025 compared to 2020 levels[172]