Nisco(SH:600282)2018-08-17 16:00Financial Performance - The company's operating revenue for the first half of 2018 reached ¥21.62 billion, an increase of 27.50% compared to ¥16.96 billion in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2018 was ¥2.29 billion, representing an increase of 89.42% from ¥1.21 billion in the previous year[18]. - The net cash flow from operating activities was ¥1.63 billion, up 147.78% from ¥656.65 million in the same period last year[18]. - Basic earnings per share for the first half of 2018 were ¥0.5179, a 69.84% increase compared to ¥0.3049 in the same period last year[19]. - The company achieved a net profit of 2.288 billion yuan, an increase of 89.42% year-on-year[33]. - The operating revenue for the period was 21.622 billion yuan, reflecting a year-on-year growth of 27.50%[39]. - The net profit for the period was approximately ¥2.76 billion, reflecting a year-on-year growth of 124.72%[47]. - The company reported a total comprehensive income of ¥2,722,179,869.87, compared to ¥1,171,174,099.58 in the previous period, indicating a substantial growth[154]. Assets and Liabilities - The total assets as of June 30, 2018, amounted to ¥40.84 billion, an increase of 8.23% from ¥37.74 billion at the end of the previous year[18]. - The company's asset-liability ratio decreased from 58.77% at the beginning of the year to 56.14% by the end of the reporting period, a reduction of 2.64 percentage points[35]. - The company's total liabilities reached CNY 22.93 billion, an increase from CNY 22.18 billion, which is a growth of about 3.4%[148]. - The company's total equity attributable to shareholders increased by 0.22% to CNY 4,418,791,757.00 from CNY 4,408,977,457.00[51]. - The company's long-term borrowings increased by 15.07% to CNY 827,075,000.00 compared to CNY 718,762,000.00 in the previous period[51]. Operational Efficiency - The production volumes for pig iron, crude steel, and steel products were 4.8197 million tons, 5.2206 million tons, and 4.7295 million tons, respectively, with year-on-year increases of 8.31%, 10.43%, and 12.53%[39]. - The average profit per ton of steel reached 637.28 yuan, an increase of 113.62% year-on-year[34]. - The comprehensive energy consumption per ton of steel decreased by 16.4 kg of standard coal, while self-generated electricity increased by 110 million kWh, reaching a self-generation ratio of 55.1%[45]. - The company’s cash flow from operating activities increased by 147.78% to approximately ¥1.63 billion, driven by the rise in net profit[47]. Research and Development - The company developed 47 new products during the reporting period, including weather-resistant steel for Bombardier's monorail project, breaking foreign monopolies[40]. - The company’s R&D expenditure increased by 46.04% to ¥716 million, reflecting a commitment to innovation[47]. - The company established the South Steel-Britain Research Institute in collaboration with the University of Leicester, focusing on new materials, intelligent manufacturing, and energy conservation[40]. Market and Economic Risks - The company faces economic risks due to global uncertainties and trade tensions, impacting the steel industry's performance[59]. - Market risks include price volatility of steel products and raw materials, which could affect profitability stability[60]. - The company is exposed to foreign exchange risks due to a higher volume of imports than exports, leading to a significant net foreign exchange risk exposure[61]. - Financial tightening policies have increased financing costs, prompting the company to explore both domestic and international financing channels[62]. - Environmental risks are heightened due to stricter emission standards and increased environmental costs, necessitating enhanced pollution control measures[63]. Corporate Governance and Compliance - The company did not propose any profit distribution or capital reserve transfer to shareholders for the first half of 2018[4]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[6]. - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report[5]. - The company has committed to maintaining its existing business structure and will not establish or expand any business that competes with Nanjing Steel Group under normal circumstances[68]. - The company has established a priority right for Nanjing Steel Co. to acquire any competing business at market or cost price if any commitments are violated[68]. Environmental Responsibility - The company strictly adheres to environmental protection laws, managing major pollutants such as wastewater, waste gas, and solid waste, with a total wastewater discharge of 871 tons in the first half of 2018[100]. - The company achieved a nitrogen oxide emission of 232 tons, which is below the standard limit of 300 mg/m³, indicating compliance with environmental regulations[102]. - The company has implemented measures for solid waste utilization, with all solid waste being recycled for production purposes[100]. - The company achieved a 100% compliance rate for pollutant discharge during the reporting period, with zero environmental pollution incidents[106]. Shareholder Structure and Equity - The total number of shares increased from 4,408,977,457 to 4,418,791,757, with an increase of 9,814,300 shares during the reporting period[114]. - The top shareholder, Nanjing Nangang Steel Union Co., Ltd., holds 1,795,351,958 shares, accounting for 40.63% of total shares, with all shares pledged[120]. - The company has a total of 136,077 common shareholders as of the end of the reporting period[118]. - The company raised 3.75 billion RMB for capital increase in Nanjing Steel Development through a joint investment with China Construction Bank and Nanjing Steel Union[121]. Financial Management - The company's credit rating was upgraded from AA to AA+ with a stable outlook, while the "11 Nanjing Steel Bonds" maintained a AAA rating[136]. - The company's cash and cash equivalents increased to RMB 4.843 billion, up from RMB 2.748 billion at the beginning of the period[146]. - The company maintained a loan repayment rate of 100% throughout the reporting period[139]. - The company has not reported any major litigation or arbitration matters during the reporting period[78].