2016-07-15 16:00Financial Performance - Total revenue for the first half of 2016 was RMB 3,888,990, showing a slight increase of 0.15% compared to RMB 3,883,244 in the same period last year[3] - Operating profit decreased significantly by 68.13% to RMB 60,966 from RMB 191,300 year-on-year[3] - Net profit attributable to shareholders fell by 60.48% to RMB 53,000 compared to RMB 134,116 in the previous year[3] - Basic earnings per share decreased by 59.68% to RMB 0.025 from RMB 0.062 year-on-year[3] - The weighted average return on net assets dropped to 2.01%, a decrease of 2.72 percentage points from 4.73% in the previous year[3] - Shareholders' equity attributable to the parent company decreased by 3.51% to RMB 2,656,944 from RMB 2,753,717[3] Assets and Equity - Total assets increased by 3.65% to RMB 8,697,716 from RMB 8,391,403 at the beginning of the period[3] Company Strategy and Operations - The company continued to implement H-share repurchase during the first half of 2016, affecting the calculation of basic earnings per share[4] - The decline in operating profit and total profit was primarily due to the impact of hedging, which prevented the company from benefiting from price increases on some products[5] - The company focused on reform, growth, and development, achieving steady growth in the production and sales of major metal products despite overall profit decline[5]