Yunnan Aluminium (SZ:000807)2024-08-26 10:32Financial Performance - As of June 30, 2024, the net assets attributable to shareholders of Yunnan Aluminium Co., Ltd. reached RMB 39.309 billion, up from RMB 27.462 billion at the end of 2023[2]. - The operating revenue for the first half of 2024 was RMB 24.648 billion, a significant increase from RMB 17.670 billion in the same period of 2023, representing an increase of approximately 39.5%[2]. - The total profit for the first half of 2024 was RMB 3.550 billion, compared to RMB 2.164 billion in the first half of 2023, marking an increase of about 64%[2]. - The net profit attributable to shareholders for the first half of 2024 was RMB 2.519 billion, up from RMB 1.515 billion in the first half of 2023, reflecting a growth of approximately 66.3%[2]. - The earnings per share for the first half of 2024 were RMB 0.73, compared to RMB 0.44 in the same period of 2023, indicating a rise of about 65.9%[2]. - The company's operating revenue for the reporting period reached ¥24.65 billion, a year-on-year increase of 39.49% compared to ¥17.67 billion in the same period last year[49]. - Net profit for the first half of 2024 was ¥2.96 billion, representing a 64.5% increase from ¥1.80 billion in the first half of 2023[142]. - The company reported a gross profit margin improvement, with operating profit rising to ¥3.55 billion, up 64.3% from ¥2.16 billion year-over-year[142]. Cash Flow and Financial Stability - The company's debt-to-asset ratio was 25.60% as of June 30, 2024, down from 23.35% at the end of 2023, indicating improved financial stability[2]. - The net cash flow from operating activities was ¥2,748,445,549.84, reflecting a 32.88% increase compared to ¥2,068,346,486.44 in the same period last year[17]. - Cash and cash equivalents increased by 224.49% to CNY 1,561,391,668.43, driven by improved cash flow from operations[50]. - The net cash flow from operating activities for the first half of 2024 was CNY 1,926,942,115.81, compared to a negative cash flow of CNY -470,498,903.37 in the same period of 2023, indicating a significant improvement[146]. - The total cash and cash equivalents at the end of the period amounted to CNY 6,493,635,215.50, a significant increase from CNY 1,389,481,526.51 at the end of the previous year[146]. Production and Operational Efficiency - The company produced 723,000 tons of alumina, 135,070 tons of primary aluminum, and 58,770 tons of aluminum alloys and processed products in the first half of 2024, achieving record high production levels[31]. - The company has completed technological upgrades on two electrolytic production lines, leading to improved production efficiency and capacity utilization[30]. - The company has a green aluminum production capacity of 3.05 million tons, making it the largest green low-carbon aluminum supplier in China[25]. - The company achieved a green electricity usage ratio of over 80% in its production electricity structure for the first half of 2024, significantly reducing carbon emissions compared to coal-powered aluminum[42]. Environmental and Sustainability Initiatives - Yunnan Aluminium has implemented a green development strategy, including the establishment of the first domestic aluminum electrolysis workshop for resource recycling, enhancing its commitment to sustainable practices[5]. - The company aims to lead the industry in carbon footprint reduction, achieving dual certification through the ASI standard across its entire supply chain[5]. - The company is committed to achieving carbon neutrality and has initiated projects for ultra-low emissions and zero industrial wastewater discharge[75]. - The company has implemented a zero wastewater discharge policy across all enterprises, treating and reusing all wastewater generated[91]. - The company has established a hazardous waste management system, achieving a 100% safe disposal rate for solid waste[91]. Strategic Partnerships and Market Expansion - The company has signed strategic cooperation agreements with well-known automotive companies to explore low-carbon aluminum supply chains, enhancing its market presence in the new energy vehicle sector[29]. - The company is positioned to leverage the "Belt and Road" initiative and RCEP, enhancing its market expansion opportunities in Southeast Asia and South Asia[47]. - The company is focusing on expanding its market presence and enhancing its product offerings through innovative technologies and strategic partnerships in the green aluminum sector[5]. Research and Development - The company established 7 technology innovation platforms and initiated 25 new technology projects, resulting in 83 authorized patents, including 4 invention patents and 10 international patents[34]. - Research and development expenses increased to ¥36.89 million, a substantial rise of 206.5% compared to ¥12.04 million in the previous year[141]. - The company has developed new products with competitive advantages, including high-precision aluminum and aluminum alloys for aerospace applications[28]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 2.3 per 10 shares, totaling approximately RMB 797.63 million, as part of its mid-year profit distribution plan[7]. - The cash dividend represents 100% of the total distributable profit of RMB 2,821,759,094.51[79]. Compliance and Governance - The company is compliant with 216 applicable environmental protection laws and regulations, including 15 laws and 61 national and industry standards[86]. - The company has not faced any legal penalties for violations of environmental regulations during the reporting period[86]. - The company has appointed new board members and executives, including a new general manager and board secretary[77].