ST海越(600387) - 2021 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2021 was ¥3,230,374,669.56, representing a 16.93% increase compared to ¥2,762,746,334.30 in the same period last year[20]. - The net profit attributable to shareholders of the listed company decreased by 34.72% to ¥21,852,953.25 from ¥33,476,863.76 year-on-year[20]. - The total revenue for the first half of the year was ¥3,225,216,720.66, reflecting a year-on-year increase of 16.95%[50]. - The company achieved a sales revenue of 3.23 billion yuan in the first half of 2021, with a net profit attributable to the parent company of 22 million yuan[32]. - The total revenue for finished oil sales increased by 23.55% year-on-year, amounting to ¥1,731,003,170.44[48]. - The oil and gas business in Zhuji region completed a total sales volume of 400,200 tons, generating approximately 1.88 billion yuan in sales revenue[33]. - Northern Petroleum, a wholly-owned subsidiary, realized revenue of 1.316 billion yuan and a net profit of 32.30 million yuan, with an oil turnover of 2.5517 million tons and a trade volume of 535,800 tons in the first half of 2021[34]. Cash Flow and Financial Position - The net cash flow from operating activities was negative at -¥906,946,060.33, a significant decline of 508.12% compared to -¥149,139,699.51 in the previous year[20]. - The net cash flow from investment activities was negative at -¥48,226,716.08, a decline of 906.67% compared to a positive cash flow of ¥5,978,513.82 in the previous year[20]. - The net cash flow from financing activities was negative at -¥13,417,261.06, a 100.79% decrease from a positive cash flow of ¥1,693,440,444.13 in the previous year[20]. - The company's cash and cash equivalents decreased from 1,262,670,331.59 RMB at the end of 2020 to 321,434,618.86 RMB by June 30, 2021[106]. - The company reported a net cash outflow from investing activities of CNY -48,226,716.08, compared to a positive cash flow of CNY 5,978,513.82 in the previous year[130]. - The ending cash and cash equivalents balance was CNY 267,384,580.04, down from CNY 1,604,017,416.90 at the end of the first half of 2020[130]. Assets and Liabilities - The total assets increased by 4.04% to ¥4,281,158,556.18 from ¥4,115,055,598.50 at the end of the previous year[20]. - The total liabilities rose to CNY 981,065,361.21, an increase from CNY 792,273,636.35, indicating a growth of approximately 23.8%[108]. - The company's total assets decreased to ¥3,356,281,886.72 from ¥3,491,790,626.06, indicating a decline of 3.9%[114]. - The company's equity attributable to shareholders decreased slightly to CNY 3,140,968,680.67 from CNY 3,160,714,533.02, a decline of about 0.63%[109]. - The total owner's equity at the end of the reporting period was 2,692,619,500, reflecting an increase from the previous year[149]. Expenses and Income - Total operating costs amounted to ¥3,191,546,971.19, up from ¥2,724,745,409.54, reflecting a rise of 17.2% year-over-year[117]. - Tax and additional fees increased by 20.17% year-on-year, primarily due to increased revenue from subsidiaries[39]. - Sales expenses rose by 25.27% year-on-year, mainly attributed to increased sales costs from subsidiaries[39]. - Financial expenses surged by 1,105.59% year-on-year, primarily due to interest income recognition from fixed deposits in the previous period[39]. - Other income decreased by 80.72% year-on-year, mainly due to tax refunds received in the previous period[39]. - Investment income fell by 23.68% year-on-year, primarily due to changes in long-term equity investment income[39]. Shareholder and Equity Information - The company did not propose any profit distribution or capital reserve transfer plan for the first half of 2021, with no dividends or stock bonuses declared[65]. - The total equity attributable to shareholders at the end of the reporting period was 3,303,706,894.73 CNY, compared to 3,196,364,137.90 CNY at the end of the previous period, reflecting a growth of approximately 3.35%[145]. - The largest shareholder, Tongchuan Huineng Xinneng Co., Ltd., holds 89,934,087 shares, accounting for 19.21% of total shares[97]. - The company completed the cancellation of 3.63 million restricted stocks, reducing the total shares from 471,774,464 to 468,144,464[93]. Internal Control and Governance - The company has reported non-operating fund occupation by related parties, which has led to a negative opinion in the internal control audit report for 2020[6]. - The controlling shareholder, Tongchuan Huineng Xinnengyuan Co., Ltd., occupied funds amounting to CNY 14.03 billion as of April 30, 2021, with a new occupation of CNY 10.02 billion during the reporting period[78]. - There were no significant lawsuits or arbitration matters reported during the reporting period[82]. - The company did not provide any guarantees to third parties during the reporting period, with a total guarantee amount of CNY 14.17 billion, which accounts for 4.29% of the company's net assets[88]. Risk Management and Future Plans - The company plans to strengthen internal credit management and seek policy support to mitigate economic downturn risks[58]. - The company aims to enhance risk management and adjust business strategies in response to industry volatility and policy changes[59]. - The company will focus on maintaining existing customer relationships while actively expanding external markets to reduce customer concentration risks[59]. Accounting Policies and Financial Reporting - The financial statements are prepared based on the assumption of going concern and comply with the relevant accounting standards issued by the Ministry of Finance[154]. - The company adheres to the accounting standards, ensuring that the financial statements accurately reflect its financial position and operating results[157]. - The company uses Renminbi as the functional currency, except for two subsidiaries that use USD and HKD respectively[160]. - The group recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired in a business combination[162].