Financial Performance - For the six months ended June 30, 2021, the company achieved operating revenue of RMB 1,180,733 million, representing a year-on-year growth of 22.82%[5] - The net profit attributable to the parent company was RMB 34,470 million, an increase of 18.19% compared to the same period last year[5] - The gross profit for the period was RMB 125,769 million, a slight decrease of 0.74%, with a gross margin of 10.65%, down 2.53 percentage points year-on-year[11] - Operating costs increased by 26.39% year-on-year to RMB 1,054,964 million, primarily due to the growth in operating revenue[10] - The company reported a total profit of ¥88,153,586.67, a decrease of 10.8% from ¥98,888,351.92 in the same period of 2020[54] - Net profit for the first half of 2021 was RMB 44,961,001.90, compared to RMB 29,166,140.92 in the same period of 2020, indicating a significant increase[163] Assets and Liabilities - Total assets as of June 30, 2021, were RMB 5,998,472 million, an increase of 3.49% from the beginning of the year[14] - The company's debt-to-asset ratio was 72.92%, up from 72.05% at the beginning of the year[14] - The total liabilities increased to RMB 43,741,272,117.99 from RMB 41,761,205,970.92, reflecting a growth of approximately 4.7%[46] - The total equity attributable to the parent company as of June 30, 2021, was RMB 15,856,164,184.67, reflecting a decrease of RMB 7,492,907.27[70] - The total assets as of June 30, 2021, were RMB 59,984,724,515.39, an increase from RMB 57,961,256,485.83 at the end of 2020, reflecting a growth of approximately 3.5%[149] Cash Flow - The company reported a net cash outflow from operating activities of RMB -127,641 million during the period[15] - The cash inflow from operating activities amounted to CNY 11,622,727,524.82, an increase of 40.5% compared to CNY 8,254,444,539.71 in the previous period[61] - The cash outflow from operating activities totaled CNY 12,899,136,360.30, up from CNY 10,271,946,142.19, resulting in a net cash flow from operating activities of CNY -1,276,408,835.48, an improvement from CNY -2,017,501,602.48[62] - The total cash and cash equivalents at the end of the period were CNY 10,938,297,554.07, compared to CNY 6,860,883,611.75 at the end of the previous period, reflecting a decrease of CNY 359,748,671.24 during the period[66] Investments and Capital Expenditures - The company completed fixed asset investments of RMB 17,445 million in the first half of 2021, primarily for biomass cogeneration projects and technological upgrades for subsidiaries[18] - Total capital expenditure for the six months ended June 30, 2021, was RMB 231,888,860.89, an increase from RMB 222,342,081.94 in the same period of 2020[131] Employee and Compensation - The company has a total of 12,063 employees with a total salary of RMB 74,366 million as of June 30, 2021[24] - Key management personnel compensation increased to RMB 4,114,074.80 in the first half of 2021, up from RMB 2,603,009.05 in the same period of 2020[181] Research and Development - The company has completed the first prototype of a hub motor and the first electric wheel for heavy-duty mining vehicles in the first half of 2021[23] - Research and development expenses remained stable at ¥280,898,742.51, slightly up from ¥280,818,214.06 in the previous period[52] Corporate Governance and Compliance - The audit committee reviewed and approved the interim performance report for the six months ending June 30, 2021[36] - The company has complied with the Corporate Governance Code throughout the reporting period[35] - The financial statements are prepared in accordance with the current enterprise accounting standards, ensuring compliance and accuracy[79] Market and Future Outlook - The company forecasts that by the end of 2021, the national installed power generation capacity will reach 2.37 billion kilowatts, a year-on-year increase of approximately 7.7%[27] - The company plans to accelerate the development of new energy vehicles and enhance its market share in hydropower while addressing the challenges of traditional industry decline[28] Related Party Transactions - Total sales to related parties under the "Product and Service Framework Agreement" amounted to RMB 4,019,879.11 in the first half of 2021, a substantial increase from RMB 75,017.69 in the same period of 2020[170] - The company engaged in continuous related transactions, including a management contract and various service agreements, effective until 2022[167]
哈尔滨电气(01133) - 2021 - 中期财报