Financial Performance - Revenue for the six months ended June 30, 2021, was RMB 5,300,944, an increase of 22.8% from RMB 4,314,031 in the same period of 2020[8] - Gross profit for the period was RMB 1,873,176, with a gross profit margin of 35%, down from 41% in 2020[8] - Profit for the period attributable to owners of the Company was RMB 1,073,434, representing a 22.2% increase compared to RMB 878,414 in 2020[8] - Profit before tax for the period was RMB 1,512,922, an increase from RMB 1,336,559 in 2020[12] - The Company reported a profit for the period of RMB 1,106,396, compared to RMB 909,612 in the previous year[12] - The Group's revenue for the six months ended June 30, 2021, was RMB 5,300,944, an increase from RMB 4,314,031 in the same period of 2020, representing a growth of approximately 22.8%[22] - The net profit for the period was RMB 1,106.4 million, an increase of RMB 196.8 million from RMB 909.6 million in the same period of 2020[72] Assets and Liabilities - Total assets as of June 30, 2021, were RMB 23,186,225, up from RMB 21,634,251 as of December 31, 2020[9] - As of June 30, 2021, total assets less current liabilities amounted to RMB 18,814,164, a decrease from RMB 19,147,842 as of December 31, 2020, reflecting a decline of approximately 1.74%[14] - Non-current liabilities totaled RMB 2,282,936 as of June 30, 2021, a slight decrease from RMB 2,344,650 as of December 31, 2020[15] - The company's net assets were reported at RMB 16,531,228 as of June 30, 2021, down from RMB 16,803,192 at the end of 2020, reflecting a decrease of approximately 1.62%[15] - Total equity attributable to owners of the company was RMB 16,421,856 as of June 30, 2021, an increase from RMB 16,149,083 at the end of 2020, representing a growth of approximately 1.68%[15] Cash Flow and Working Capital - Net cash from operating activities for the six months ended June 30, 2021, was RMB 928,245, compared to RMB 1,519,984 for the same period in 2020, indicating a decrease of about 39%[19] - Cash and cash equivalents at the end of the period were RMB 7,115,874, down from RMB 9,156,644 at the end of June 2020, a decrease of about 22%[19] - Current assets amounted to RMB 12,504,743 as of June 30, 2021, compared to RMB 7,115,874 in current liabilities, resulting in net current assets of RMB 7,854,314[14] Segment Performance - Revenue from cement products was RMB 5,141,531, while concrete sales contributed RMB 159,413, indicating strong performance in the cement segment[23] - The segment result for the cement business was RMB 1,408,550, while the concrete business reported a segment result of RMB (45,021), leading to a total segment result of RMB 1,363,529[23] - Cement sales volume for the first half of 2021 was 14.14 million tonnes, up from 11.14 million tonnes in the same period of 2020[61] Dividends and Shareholder Information - The company recognized dividends of RMB 800,661 during the period, compared to RMB 783,426 in the previous year, indicating an increase in dividend distribution[17] - A final dividend of RMB 51.1 cents per share was paid during the six months ended 30 June 2021, totaling RMB 800,661,000[33] - As of June 30, 2021, Asia Cement holds a beneficial interest of approximately 67.73% in the Company, with additional interests controlled by related corporations[93] Market Outlook and Industry Trends - The overall market outlook for the cement industry is expected to be positive, despite rising prices of coal, sand, and gravel impacting costs[81] - The Group expects unfavorable factors affecting cement prices to subside after late August, anticipating a peak season in the second half of the year[56] - The cement industry is anticipated to remain stable due to supportive infrastructure policies and strict control of new capacity, despite rising costs of raw materials like coal and sand[82] Corporate Governance and Compliance - The Audit Committee reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2021, confirming compliance with applicable accounting standards[97] - The company has complied with all provisions of the Corporate Governance Code during the reporting period[97] - The Nomination Committee is responsible for reviewing the Board's structure and identifying qualified individuals for Board membership[98]
亚洲水泥(中国)(00743) - 2021 - 中期财报