创力集团(603012) - 2024 Q2 - 季度财报

Definitions This chapter defines key terms used in the report, including company name, regulatory bodies, reporting period, major shareholders, and subsidiaries, providing a foundation for understanding the report content - The reporting period is from January 1, 2024, to June 30, 2024[8] - The controlling shareholder is China Coal Machinery Group Co., Ltd., and the ultimate controlling person is Shi Liangxi[8][101] - Several important subsidiaries are listed, including Suzhou Chuangli, Datong Tongli, and Zhejiang Zhongmei[8] Company Profile and Key Financial Indicators This chapter provides the company's basic information, contact details, stock overview, key financial data, and indicators for the reporting period, along with a detailed list of non-recurring gains and losses Company Information This section outlines the company's basic registration information, including its Chinese name, abbreviation, foreign name, and legal representative - The company's Chinese name is Shanghai Chuangli Group Co., Ltd., abbreviated as Chuangli Group[9] - The company's legal representative is Shi Liangxi[9] Contact Person and Information This section provides contact details for the company's Board Secretary, including name, address, phone, fax, and email - The company's Board Secretary is Chang Yulin, contact number 021-59869117, and email shcl@shclkj.com[10] - Both the company's registered address and office address are located at No. 889 Xinkang Road, Qingpu District, Shanghai[11] Information Disclosure and Document Custody Location Changes This section specifies the company's information disclosure newspapers, website address, and report custody location, noting no changes during the reporting period - The company's selected information disclosure newspapers are China Securities Journal and Securities Daily, and the website address for half-year reports is **www.sse.com.cn**[13](index=13&type=chunk) - There were no changes in the company's information disclosure or document custody locations during the reporting period[13] Company Stock Overview This section briefly introduces the company's stock type, listing exchange, stock abbreviation, and code - The company's stock type is A-shares, listed on the Shanghai Stock Exchange, with stock abbreviation Chuangli Group and stock code 603012[14] Key Accounting Data and Financial Indicators This section presents the company's key accounting data and financial indicators for the first half of 2024, including operating revenue, net profit, and earnings per share, with year-on-year comparisons Key Accounting Data for the First Half of 2024 | Indicator | Current Period (Jan-Jun) (RMB) | Same Period Last Year (RMB) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,150,747,150.99 | 1,149,188,071.18 | 0.14 | | Net Profit Attributable to Shareholders of the Listed Company | 98,590,845.07 | 169,191,391.77 | -41.73 | | Net Profit Attributable to Shareholders of the Listed Company Excluding Non-Recurring Gains and Losses | 89,415,721.06 | 144,882,269.85 | -38.28 | | Net Cash Flow from Operating Activities | 40,994,253.36 | 25,898,798.39 | 58.29 | | End of Period Indicators | End of Current Period (RMB) | End of Last Year (RMB) | Change from End of Last Year to End of Current Period (%) | | Net Assets Attributable to Shareholders of the Listed Company | 3,620,437,017.65 | 3,612,273,238.85 | 0.23 | | Total Assets | 6,756,454,141.17 | 6,636,767,697.47 | 1.80 | Key Financial Indicators for the First Half of 2024 | Indicator | Current Period (Jan-Jun) | Same Period Last Year | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (RMB/share) | 0.15 | 0.26 | -42.31 | | Diluted Earnings Per Share (RMB/share) | 0.15 | 0.26 | -42.31 | | Basic EPS Excluding Non-Recurring Gains/Losses (RMB/share) | 0.14 | 0.22 | -36.36 | | Weighted Average Return on Net Assets (%) | 2.70 | 5.11 | Decrease of 2.41 percentage points | | Weighted Average RONAE Excluding Non-Recurring Gains/Losses (%) | 2.45 | 4.37 | Decrease of 1.92 percentage points | - Net profit attributable to shareholders of the listed company decreased by 41.73% year-on-year, and basic earnings per share decreased by 42.31% year-on-year[15][16] - Net cash flow from operating activities increased by 58.29% year-on-year[15] Non-Recurring Gains and Losses Items and Amounts This section details the company's non-recurring gains and losses for the first half of 2024, including disposal gains/losses on non-current assets, government subsidies, and fair value changes Non-Recurring Gains and Losses Items and Amounts for the First Half of 2024 | Non-Recurring Gains and Losses Item | Amount (RMB) | | :--- | :--- | | Gains/losses on disposal of non-current assets | -103,044.52 | | Government subsidies recognized in current profit or loss | 11,189,215.39 | | Gains/losses from changes in fair value of financial assets and liabilities held by non-financial enterprises, and gains/losses from disposal of financial assets and liabilities, excluding effective hedge accounting related to normal business operations | -390,250.05 | | Reversal of impairment provisions for receivables subject to individual impairment testing | 807,667.52 | | Gains/losses from debt restructuring | -8,890,864.85 | | Other non-operating income and expenses apart from the above | 3,103,152.02 | | Less: Income tax impact | 4,960.54 | | Minority interests impact (after tax) | -3,464,209.04 | | Total | 9,175,124.01 | - Total non-recurring gains and losses amounted to RMB 9,175,124.01[18] Management Discussion and Analysis This chapter deeply analyzes the company's industry environment, main business development, core competencies, operating strategies, and key initiatives during the reporting period, along with a detailed discussion of financial status, investment activities, and potential risks Industry and Main Business Overview for the Reporting Period This chapter elaborates on the supply and demand situation in the coal industry and the competitive landscape of the coal machinery market during the reporting period, and details the company's main business, product coverage, and market position in coal machinery equipment manufacturing and services Industry Overview for the Reporting Period This section analyzes the supply and demand conditions of China's coal industry and the competitive landscape and development trends of the coal machinery market in the first half of 2024 - In the first half of the year, raw coal output from industrial enterprises above designated size was 2.27 billion tons, a year-on-year decrease of 1.7%, with the decline narrowing by 2.4 percentage points compared to the first quarter[19] - The coal machinery market is highly competitive, with macroeconomic conditions driving coal machinery enterprises to empower high-quality development of coal enterprises through digitalization, intelligence, and complete sets of equipment[20] - The intelligentization process in the coal machinery industry is accelerating, moving towards "smart manufacturing"[20] Main Business Operations for the Reporting Period This section details the company's main business, product types, market coverage, and industry ranking in coal machinery equipment manufacturing and services, emphasizing its investment in technological innovation and intelligent manufacturing - The company primarily engages in coal machinery equipment manufacturing and services, with products covering intelligent coal shearers, tunneling equipment, emulsion pump stations, spray pump stations, belt conveyors, monorail hoists, and more[20] - As of the end of 2023, the company's mining equipment products had covered over 2,000 coal mines nationwide[20] - According to the evaluation results of the China Coal Machinery Industry Association, Chuangli Group ranked 16th among China's Top 50 Coal Machinery Industrial Enterprises in 2023[20] - During the reporting period, the company achieved operating revenue of RMB 1.151 billion, a year-on-year increase of 0.14%, and invested RMB 57.1257 million in R&D expenses[21] - The company was successfully selected for the "2023 Qingpu District Smart Factory" list, continuously increasing technological transformation investment under the leadership of "Digital Chuangli"[21] Analysis of Core Competencies for the Reporting Period This chapter elaborates on the company's core competitive advantages in talent and technology, customer relationships, cost control, after-sales service, systems and mechanisms, and product technology, which collectively support its leading position in the coal machinery industry Talent and Technology Advantages The company possesses a high-caliber R&D and innovation team and continuously enhances talent reserves and technical strength through a sound incentive mechanism and industry-university-research cooperation - The company has an R&D and innovation technical team composed of high-caliber talents, including national experts, professors, post-doctors, doctors, and masters[21] - The company's internal incentive mechanism is well-developed, promotion channels are clear and transparent, and it collaborates with universities and research institutes to build industry-university-research bases[21][22] Customer Advantages The company, with its leading technology, has established long-term, diversified, and in-depth cooperation models with large state-owned coal production enterprises, ensuring stable customer relationships and business continuity - The company's main customers are large state-owned coal production enterprises, such as Shenhua Group, Jinneng Group, and Huayang Group[22] - The company has established diversified, in-depth, and long-term cooperation models with major key customers to ensure the stability and continuity of coal mining operations[22] Cost Advantages Through informatization management, lean production, and specialized collaboration, the company effectively controls product quality and costs throughout the entire process, forming significant process and cost advantages - The company focuses on full-process quality control, utilizing informatization management to ensure transparency from procurement to inventory, thereby reducing inventory[23] - The company fully implements lean production projects, strengthens 6S management, and leverages advanced manufacturing equipment and its advantageous location in the Yangtze River Delta to promote specialized collaboration[23] After-Sales Service Advantages Leveraging its service network covering major coal-producing regions nationwide, the company provides fast and efficient one-stop after-sales service and enhances service quality through regular training - The company adheres to a service philosophy of speed, precision, care, and value-added, relying on its service network across major coal-producing regions nationwide[23] - The company has established well-equipped regional overhaul and maintenance centers, staffed with high-caliber service engineers and ample spare parts reserves, and provides regular training[23] System and Mechanism Advantages The company possesses flexible systems and mechanisms, enabling rapid response to production and operational issues, and forms brand competitiveness through strong R&D capabilities, diversified product structure, and scientific management mechanisms - The company's systems and mechanisms are flexible, allowing for extremely rapid decision-making and resolution of production and operational issues[23] - The company's strong R&D capabilities, diversified product structure, professional talent team, scientific management mechanisms, and excellent corporate culture collectively form its brand competitiveness[23] Product Advantages The company's products adapt to the trends of automation, informatization, intelligence, and complete sets of equipment, enhancing market competitiveness through technological empowerment and moving towards becoming a leading enterprise in high-end coal machinery equipment - The company's products adapt to the development of automation, informatization, intelligence, and complete sets of equipment, moving towards becoming a leading enterprise in high-end coal machinery equipment[23] - The level of product technological empowerment has increased, translating into product technology's competitiveness in the market[23] Geographic Location Advantages Headquartered in a leading city of the Yangtze River Delta integration, the company benefits from a concentration of professional talent and a strong industrial base, which is conducive to long-term product quality improvement - The company's headquarters is located in a leading city of the Yangtze River Delta integration, a hub for professional talent[23] - The superior geographic location enables the company to fully utilize its strong industrial base and price advantages to continuously improve quality in the long term[23] Discussion and Analysis of Operations This chapter reviews the company's operating strategies and key initiatives during the reporting period in response to macroeconomic and industry changes, including market expansion, R&D innovation, production optimization, quality management, internal management, and group governance, aiming to enhance efficiency, innovation, and core competitiveness Market Operations In terms of market operations, the company has established a systematic marketing system, strengthened new market development and existing market maintenance, improved after-market business and brand promotion, and gradually achieved intelligent and digital warehousing management - The company further established a systematic marketing system, clarified the group's marketing system organizational structure, and scientifically and rationally laid out the market[25] - It strengthened new market development, improved the maintenance and consolidation of strategic markets, and deeply cultivated existing markets to increase market share[25] - While consolidating and expanding the complete machine market, it ensured the development of after-market business and strengthened new media operations and brand promotion[25] - It improved the management of spare parts consignment warehouses and direct warehouses, strengthened supervision of unsettled spare parts, and gradually achieved intelligent and digital warehousing management[25] Research and Development Work In R&D, the company organized and managed scientific research projects, enhanced research, analysis, and laboratory capabilities, kept pace with new industry technologies, strengthened the development of new products and technologies, and planned smart mine projects - It organized and managed scientific research and technology projects, ensuring clear research levels, key objectives, and progress plans[25] - It enhanced the construction of research, analysis, and laboratory capabilities, strengthened cross-disciplinary technology integration capabilities, and continuously kept pace with new industry technologies[25] - It carried out cost reduction, quality improvement, and upgrade modifications for existing products to address customer pain points, and collaborated with academician expert workstations to enhance the overall intelligence level of products and plan smart mine projects[25] Production Work In production, the company advanced lean management projects, optimized workshop assembly models, strengthened quality awareness, implemented overall production planning, and emphasized safety and 6S management - It further advanced the progress of lean management projects, optimized workshop assembly models, and improved labor efficiency[25] - Centered on the company's overall quality management requirements, it strengthened quality awareness, improved processing and assembly processes, and ensured continuous product quality improvement[25] - It implemented the company's overall production planning, improved capacity planning layout, achieved spot supply of wearing parts, and emphasized safety management and 6S management[25] Quality Management The company continuously promotes the quality management philosophy of "focusing on sources, controlling processes, and strict final inspection," strengthens process technology management and all-staff quality awareness training, and standardizes measurement standards and supplier management - It continuously promoted the quality management philosophy of focusing on sources, controlling processes, and strict final inspection, and implemented it in practical work[25] - It strengthened internal and external process technology management, regularly carried out relevant work, and further promoted and standardized the implementation of processes[25] - It enhanced all-staff quality awareness, continuously promoted quality training, launched quality month evaluation plans, and implemented quality pacesetter selection activities[25] - It systematically carried out comprehensive metrology management work, and implemented requirements to all outsourced suppliers, unifying measurement standards; it also improved testing methods and ex-factory acceptance standards[26] - It strengthened the management of core "suppliers" to meet the company's development requirements[27] Management Structure In its management structure, the company clarified departmental and employee job responsibilities, strengthened executive leadership, improved work processes, and built a management platform through digital projects to achieve unified group-wide management - It further clarified departmental responsibilities and employee job responsibilities, and the company implemented departmental responsibility reporting activities[27] - It strengthened executive responsibilities, requiring executives to focus on and lead the company's development direction and operating strategy[27] - It strictly enforced system implementation, enhanced the execution capabilities of middle and senior management, and improved the company's management efficiency[27] - Through the implementation of the Digital Chuangli project, it built a digital and informatized management platform, implemented comprehensive budget management, and achieved unified management of group-wide documents, accounts receivable, human resources, customer management, inventory materials, and material procurement[27] Group Performance Appraisal System and Policy Objective Management The company improved its policy objective management and performance appraisal system, emphasizing work planning, quality, and timeliness, and linking performance to compensation and promotion to incentivize company development - The company improved policy objective management, emphasizing work planning, work quality, and work timeliness to drive the appraisal system[27] - The policy objective management work adhered to the principle of data-driven decisions, linking performance and policy objective appraisals to compensation and employee promotions[27] - It further standardized the performance appraisal system, refined performance appraisal standards to ensure transparency, objectivity, fairness, and accuracy, and achieved survival of the fittest[27] Group Governance Model The company explores a practical management model for its second-tier subsidiaries, aiming for overall synergistic development across the group through sound systems, strengthened control, and resource sharing, and is committed to becoming a first-class intelligent coal machinery equipment service provider - It further explored a second-tier subsidiary management model that aligns with the company's actual situation, moving towards an overall synergistic development model for the entire group[27] - Through sound systems, it established standardized and effective mechanisms for the respective authorities of the group and subsidiary management, information communication and feedback, and decision-making and approval procedures[27] - It strengthened the group's control, guidance, and supervision over the management of personnel, finances, and materials of its subsidiaries, and improved the group's investment, procurement, financial, and audit management of each subsidiary[27] - The company is committed to becoming a first-class intelligent coal machinery equipment service provider[27] Key Operating Performance for the Reporting Period This chapter details the company's financial statement item changes, asset and liability status, investment activities, and potential risks during the reporting period, revealing key information at the operational, financial, and strategic levels Analysis of Main Business This section explains the reasons for changes in operating revenue, costs, various expenses, and net cash flow through an analysis of relevant financial statement items Financial Statement Related Account Changes Analysis Table | Account | Current Period Amount (RMB) | Same Period Last Year Amount (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,150,747,150.99 | 1,149,188,071.18 | 0.14 | | Operating Cost | 664,006,178.77 | 617,630,595.33 | 7.51 | | Selling Expenses | 178,122,532.00 | 215,195,969.01 | -17.23 | | Administrative Expenses | 87,475,314.85 | 79,545,822.56 | 9.97 | | Financial Expenses | 11,092,315.14 | 7,649,749.73 | 45.00 | | R&D Expenses | 57,125,740.53 | 63,951,287.47 | -10.67 | | Net Cash Flow from Operating Activities | 40,994,253.36 | 25,898,798.39 | 58.29 | | Net Cash Flow from Investing Activities | -51,813,841.70 | -28,955,186.04 | -78.94 | | Net Cash Flow from Financing Activities | 115,849,103.86 | -56,490,393.64 | 305.08 | - The increase in operating costs was primarily due to an increase in various cost expenses[29] - The decrease in selling expenses was primarily due to a reduction in agency and service outsourcing fees and share-based payment expenses[29] - The increase in financial expenses was primarily due to an increase in interest expenses[29] - The increase in net cash flow from operating activities was primarily due to a decrease in cash paid for goods purchased, services received, and various taxes and fees paid[29] - Net cash flow from financing activities significantly increased by 305.08%, primarily due to the receipt of accounts receivable factoring funds[29] Analysis of Assets and Liabilities This section analyzes the composition and changes in the company's assets and liabilities at the end of the period, and discloses the restricted status of major assets Analysis of Assets and Liabilities Changes | Item Name | End of Current Period (RMB) | Proportion of Total Assets at End of Current Period (%) | End of Last Year (RMB) | Proportion of Total Assets at End of Last Year (%) | Change from End of Last Year to End of Current Period (%) | Explanation | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 866,594,862.51 | 12.83 | 733,320,785.33 | 11.05 | 18.17 | No significant change | | Notes Receivable | 31,223,496.72 | 0.46 | 47,311,488.12 | 0.71 | -34.00 | Primarily due to a decrease in commercial acceptance bills not yet due at the end of the current reporting period | | Receivables Financing | 191,388,637.16 | 2.83 | 337,901,717.10 | 5.09 | -43.36 | Primarily due to a decrease in bank acceptance bills not yet due at the end of the current reporting period | | Other Current Assets | 41,866,135.22 | 0.62 | 26,361,584.76 | 0.40 | 58.81 | Primarily due to an increase in prepaid VAT and corporate income tax at the end of the current reporting period | | Long-term Prepaid Expenses | 12,943,430.20 | 0.19 | 2,405,020.89 | 0.04 | 438.18 | Primarily due to an increase in unamortized factoring fees during the current reporting period | | Other Non-current Assets | 70,077,038.58 | 1.04 | 44,910,356.42 | 0.68 | 56.04 | Primarily due to an increase in prepaid long-term asset payments at the end of the current reporting period | | Employee Benefits Payable | 37,946,740.20 | 0.56 | 60,463,887.78 | 0.91 | -37.24 | Primarily due to the payment of year-end bonuses accrued in the previous year during the current reporting period | | Taxes Payable | 43,310,839.43 | 0.64 | 70,037,716.09 | 1.06 | -38.16 | Primarily due to the payment of Q4 income tax and December VAT from the previous year during the current reporting period | | Non-current Liabilities Due Within One Year | 199,351,079.73 | 2.95 | 61,721,925.38 | 0.93 | 222.98 | Primarily due to an increase in long-term borrowings reclassified to non-current liabilities due within one year at the end of the current reporting period | | Long-term Borrowings | 162,044,533.66 | 2.40 | 50,520,837.43 | 0.76 | 220.75 | Primarily due to an increase in long-term borrowings at the end of the current reporting period | | Long-term Payables | 11,181,636.00 | 0.17 | 18,962,684.00 | 0.29 | -41.03 | Primarily due to a decrease in long-term payables at the end of the current reporting period | Major Asset Restriction Status as of the End of the Reporting Period | Item | Book Value at End of Period (RMB) | Reason for Restriction | | :--- | :--- | :--- | | Monetary Funds | 164,380,905.88 | Bank acceptance bill margin and performance bond | | Receivables Financing | 55,418,301.56 | Pledge guarantee | | Investment Properties | 21,626,915.20 | Bank credit mortgage | | Fixed Assets | 83,522,190.31 | Bank credit mortgage | | Intangible Assets | 26,491,820.08 | Bank credit mortgage | | Long-term Receivables | 57,484,046.59 | Pledge guarantee | | Long-term Receivables Due Within 1 Year | 31,457,697.00 | Pledge guarantee | | Total | 440,381,876.62 | | Analysis of Investment Status This section analyzes the company's overall external equity investment situation and discloses significant equity investments and financial assets measured at fair value - The company's investment activities align with its development strategic plan, contributing to business growth, seeking new profit growth points, and enhancing technological capabilities and competitiveness[34] Significant Equity Investments | Investee Company Name | Main Business | Is Target Primarily Investment Business | Investment Method | Investment Amount (RMB 10,000) | Shareholding Ratio (%) | Consolidated | Source of Funds | Progress as of Balance Sheet Date | Impact on Current Period P&L (RMB 10,000) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Chuangli Group Coal Machinery Intelligent Equipment (Inner Mongolia) Co., Ltd. | Coal machinery related products | Yes | New establishment | 3,060.00 | 51.00 | Yes | Own funds | Not yet contributed | 0.00 | Financial Assets Measured at Fair Value | Asset Category | Beginning Balance (RMB) | Fair Value Change P&L for Current Period (RMB) | Accumulated Fair Value Change in Equity (RMB) | Current Period Purchase Amount (RMB) | Current Period Sale/Redemption Amount (RMB) | Other Changes (RMB) | End of Period Balance (RMB) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | I. Recurring Fair Value Measurements | | | | | | | | | (I) Financial assets at fair value through profit or loss | 12,804,890.32 | -466,933.56 | | | | | 12,337,956.76 | | (2) Equity instrument investments | 2,481,156.76 | | | | | | 2,481,156.76 | | (3) Performance commitment compensation | 9,856,800.00 | | | | | | 9,856,800.00 | | (III) Other equity instrument investments | 24,532,463.93 | | -6,069,546.64 | | | | 24,532,463.93 | | (VI) Receivables financing | 337,901,717.10 | | | | | -146,513,079.94 | 191,388,637.16 | | Total assets measured at fair value on a recurring basis | 375,239,071.35 | -466,933.56 | -6,069,546.64 | | | -146,513,079.94 | 228,259,057.85 | - Equity instrument investments in financial assets at fair value through profit or loss use public market stock prices as fair value[326] - Receivables financing uses the face amount as fair value due to its short remaining term[326] - Other equity instrument investments are measured using the assessed value confirmed by appraisal as a reasonable estimate of fair value[326] Other Disclosure Matters This section discloses the macroeconomic and industry risks, policy risks, and operational risks that the company may face - The company faces macroeconomic and industry risks, including changes in international political and economic conditions, economic structural transformation and upgrading, coal total quantity control, and stricter environmental protection standards[41] - In terms of policy risks, the introduction of carbon neutrality and carbon peak targets may affect the future energy supply structure, bringing changes to the company's market environment[41] - Regarding operational risks, the company has a large amount of accounts receivable, posing certain operational management risks[41] Corporate Governance This chapter outlines the company's shareholders' meeting activities, changes in directors, supervisors, and senior management, as well as the progress of profit distribution plans and equity incentive plans during the reporting period, reflecting the company's dynamics in governance structure and incentive mechanisms Overview of Shareholders' Meetings This section introduces the date of the company's 2023 Annual Shareholders' Meeting, the disclosure website, and the resolutions passed - The 2023 Annual Shareholders' Meeting was held on May 16, 2024, and approved thirteen proposals, including the 2023 Board of Directors' Work Report, the 2023 Supervisory Board Work Report, and the 2023 Financial Final Account Report[42] Changes in Directors, Supervisors, and Senior Management This section discloses changes in the company's directors, supervisors, and senior management during the reporting period - During the reporting period, the company appointed Gao Youjin as Deputy General Manager[43] Profit Distribution or Capital Reserve Conversion Plan This section states that the company has no profit distribution or capital reserve conversion to share capital plan for the current reporting period - The company has no profit distribution or capital reserve conversion to share capital plan for the current reporting period[43] Status and Impact of Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures This section details the implementation progress of the company's 2022 Restricted Stock Incentive Plan, including the lifting of restrictions for the initial and reserved grants, and share repurchase and cancellation matters - The company granted restricted shares to incentive recipients in July and September 2022, totaling 15 million shares, with a grant price of RMB 3.01/share[44] - In September 2023, the conditions for the first lifting of restrictions for the initial grant portion of the company's 2022 Restricted Stock Incentive Plan were met, and 5.248 million shares were listed for trading[44] - In November 2023, the conditions for the first lifting of restrictions for the reserved grant portion were met, and 0.432 million shares were listed for trading[44] - Due to one incentive recipient losing eligibility, the company repurchased and canceled 0.8 million restricted shares, changing the company's total share capital from 651.56 million shares to 650.76 million shares[44][45] Environmental and Social Responsibility This chapter briefly describes the company's environmental protection and social responsibility efforts, including environmental information disclosure and poverty alleviation and rural revitalization work, noting no significant progress or detailed information requiring disclosure during the reporting period Environmental Information This section states that the company is not a key pollutant-discharging entity and did not disclose subsequent progress of environmental information or measures and effects to reduce carbon emissions during the reporting period - The company is not classified as a key pollutant-discharging entity by environmental protection authorities[45] - During the reporting period, the company did not disclose subsequent progress or changes in environmental information[45] - The company did not disclose measures taken or their effects in reducing its carbon emissions during the reporting period[45] Specific Progress in Consolidating Poverty Alleviation Achievements and Rural Revitalization This section states that the company did not disclose specific progress in consolidating poverty alleviation achievements and rural revitalization during the reporting period - The company did not disclose specific progress in consolidating poverty alleviation achievements and rural revitalization during the reporting period[45] Significant Matters This chapter details the company's fulfillment of various important commitments, external guarantees, progress in the use of raised funds, and other significant matters during and continuing to the end of the reporting period, reflecting the company's compliant operations and strategic implementation Fulfillment of Commitments This section details the various commitments made by the company's actual controller, controlling shareholder, directors, supervisors, senior management, and the company itself regarding initial public offering, equity incentives, and other aspects, along with their fulfillment status - The company's actual controller Shi Huahui, controlling shareholder China Coal Machinery Group, and its related party Jusheng Investment, as well as shareholders holding 5% or more of the shares, have all strictly fulfilled their commitments to resolve horizontal competition[46] - The company's actual controller Shi Huahui and controlling shareholder China Coal Machinery Group have strictly fulfilled their commitments to resolve related party transactions[47] - The company's directors, supervisors, and senior management, Guan Yaping, Geng Weidong, Rui Guohong, and Chang Yulin, have strictly fulfilled their commitments regarding share transfer restrictions during their tenure[47] - The company committed to repurchasing all newly issued shares in its initial public offering if the prospectus contains false records, misleading statements, or major omissions[47][49] - The company committed that when cash dividend conditions are met, the annual cash dividend amount should not be less than 15% of the distributable profit realized in that year[51] - China Coal Machinery Group Co., Ltd. and others committed that the non-recurring net profit of China Coal Technology for the 2021-2024 period would not be less than a specific amount, and would compensate for any shortfall[51] - Yang Taoren and others committed that the net profit of Shandong Bangmai Intelligent Technology Co., Ltd. for 2023-2025 would not be less than a specific amount[51] Non-Operating Fund Occupation by Controlling Shareholder and Other Related Parties During the Reporting Period This section states that there was no non-operating fund occupation by the controlling shareholder or other related parties during the reporting period - During the reporting period, the company had no non-operating fund occupation by the controlling shareholder or other related parties[52] Irregular Guarantees This section states that the company did not provide external guarantees in violation of prescribed decision-making procedures during the reporting period - During the reporting period, the company did not provide external guarantees in violation of prescribed decision-making procedures[52] Half-Year Report Audit Status This section states that the company's half-year report was not audited - This half-year report was not audited[3] Changes and Handling of Matters Related to Non-Standard Audit Opinions in Last Year's Annual Report This section states that there were no changes or handling of matters related to non-standard audit opinions in the company's last year's annual report - There were no changes or handling of matters related to non-standard audit opinions in the company's last year's annual report[53] Bankruptcy Reorganization Matters This section states that there were no bankruptcy reorganization matters for the company during the reporting period - During the reporting period, the company had no bankruptcy reorganization matters[53] Significant Litigation and Arbitration Matters This section states that there were no significant litigation or arbitration matters for the company during the reporting period - During the reporting period, the company had no significant litigation or arbitration matters[53] Listed Company, its Directors, Supervisors, Senior Management, Controlling Shareholder, and Actual Controller Suspected of Violations, Penalties, and Rectification This section states that there were no suspected violations, penalties, or rectification situations involving the company, its directors, supervisors, senior management, controlling shareholder, or actual controller during the reporting period - During the reporting period, the company, its directors, supervisors, senior management, controlling shareholder, and actual controller had no suspected violations, penalties, or rectification situations[53] Explanation of the Integrity Status of the Company, its Controlling Shareholder, and Actual Controller During the Reporting Period This section states that the integrity status of the company, its controlling shareholder, and actual controller was good during the reporting period - During the reporting period, the integrity status of the company, its controlling shareholder, and actual controller was good[53] Significant Related Party Transactions This section states that during the reporting period, the company had no related party transactions related to daily operations, asset or equity acquisitions/disposals, joint external investments, or related party creditor-debtor relationships that were disclosed in temporary announcements and had no subsequent progress or changes - During the reporting period, the company had no related party transactions related to daily operations that were disclosed in temporary announcements and had no subsequent progress or changes[53] - During the reporting period, the company had no related party transactions involving asset or equity acquisitions or disposals[53] - During the reporting period, the company had no significant related party transactions involving joint external investments[54] - During the reporting period, the company had no related party creditor-debtor relationships[54] Significant Contracts and Their Performance This section discloses the company's significant guarantees performed and not yet fully performed during the reporting period, including the total amount of guarantees to subsidiaries and their proportion to net assets Company's Total Guarantees (Including Guarantees to Subsidiaries) | Indicator | Amount (RMB 10,000) | | :--- | :--- | | Total Guarantees to Subsidiaries During Reporting Period | 35,000.00 | | Total Guarantee Balance to Subsidiaries at End of Reporting Period (B) | 126,228.68 | | Total Guarantees (A+B) | 126,228.68 | | Proportion of Total Guarantees to Company's Net Assets (%) | 34.87 | - The total guarantee balance to subsidiaries at the end of the reporting period was RMB 1,262.2868 million, accounting for 34.87% of the company's net assets[56] - Of this, the total guarantee balance from subsidiaries to the parent company was RMB 1,090 million, and the total guarantee balance from the parent company to subsidiaries was RMB 172.2868 million[56] Explanation of Progress in Use of Raised Funds This section details the overall use of funds raised from the company's initial public offering and the specifics of the investment projects, including investment amount, progress, benefits, and project delays Overall Use of Raised Funds | Source of Raised Funds | Date Funds Received | Total Raised Funds (RMB 10,000) | Net Raised Funds After Issuance Costs (1) (RMB 10,000) | Total Committed Investment of Raised Funds in Prospectus (2) (RMB 10,000) | Total Raised Funds Cumulatively Invested as of End of Reporting Period (4) (RMB 10,000) | Cumulative Investment Progress of Raised Funds as of End of Reporting Period (%) (6)=(4)/(1) | Amount Invested This Year (8) (RMB 10,000) | Proportion of Amount Invested This Year (%) (9)=(8)/(1) | Total Raised Funds with Changed Use (RMB 10,000) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Initial Public Offering | March 17, 2015 | 107,937.60 | 100,716.28 | 100,716.28 | 105,486.11 | 104.74 | 174.28 | 0.17 | 50,675.00 | - The cumulative investment of funds raised from the initial public offering was RMB 1,054.8611 million, with an investment progress of 104.74%[57] - The "Mining Machinery Equipment Supporting Processing Base Expansion Project" had its implementation schedule adjusted and delayed due to fluctuations in the external macroeconomic environment, development trends in the coal machinery industry, and technological iterations[60] - The "New Energy Vehicle Supporting Parts and Charging Pile Project (Phase I)" has been completed, and the remaining raised funds of RMB 25.2846 million have been used to permanently supplement working capital[63] - The "New Energy Vehicle Operation Project" has been completed, and the remaining raised funds of RMB 13.5424 million have been used to permanently supplement working capital[63] - The "Technology R&D Center Construction Project" has been completed, and the remaining raised funds of RMB 10.3401 million have been used to permanently supplement working capital[63] Explanation of Other Significant Matters This section states that the company had no other significant matters during the reporting period -