SEP(SH:600021)2023-08-28 16:00Financial Performance - The company's operating revenue for the first half of 2023 reached ¥20,246,150,430.92, representing a 25.36% increase compared to ¥16,149,996,519.10 in the same period last year[18]. - The net profit attributable to shareholders was ¥787,783,499.36, a significant recovery from a loss of ¥41,492,196.74 in the previous year[18]. - Basic earnings per share for the first half of 2023 were ¥0.2492, a recovery from a loss of ¥0.0407 in the same period last year[20]. - The total profit for the period was CNY 2.45 billion, up by 12.07% compared to the previous year[32]. - The net profit reached CNY 1.91 billion, reflecting a year-on-year increase of 7.66%[32]. - The company reported a significant increase in intangible assets, rising to ¥5.01 billion from ¥4.81 billion, which is an increase of about 4.4%[118]. - The total comprehensive income for the first half of 2023 was CNY 1,968,660,232.03, compared to CNY 603,617,999.35 in the same period of 2022, indicating a substantial increase[126]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 55.60% to ¥2,696,664,442.81, down from ¥6,073,492,825.38 in the same period last year[19]. - The company's cash and cash equivalents rose to ¥426.44 million from ¥130.52 million, indicating a substantial increase of approximately 226.5%[120]. - The company's cash flow from financing activities showed a net increase of 4,420,351,009.24 RMB, compared to 1,431,602,580.13 RMB in the first half of 2022[131]. - The company's cash and cash equivalents at the end of H1 2023 stood at ¥426,441,431.02, down from ¥1,537,887,016.56 at the end of H1 2022[134]. Assets and Liabilities - The total assets of the company increased by 4.07% to ¥167,796,793,143.10, compared to ¥161,234,457,944.11 at the end of the previous year[19]. - The total debt ratio improved slightly to 70.55% from 72.63%[115]. - Total liabilities amounted to ¥118.38 billion, up from ¥117.11 billion, showing a growth of about 1.1%[119]. - The company's total liabilities at the end of the first half of 2023 were CNY 8,269,808,453.69, showing an increase from the previous year[140]. Investments and Acquisitions - The company completed a significant acquisition of the world's largest hydrogen refueling station in the Shanghai Chemical Zone[26]. - The company plans to acquire a 66.40% stake in KE Company from KES Energy in Pakistan for a cash consideration of $1.77 billion, with potential additional payments of up to $27 million based on the target company's performance[102]. - The company completed the acquisition of 100% equity in Luhe Huifeng New Energy, impacting the current period's profit by 201.85 million yuan[42]. Environmental and Sustainability Initiatives - The company’s coal-fired power plants have completed ultra-low emission renovations, with dust removal efficiency exceeding 99.90% and desulfurization efficiency at 98.82%[63]. - The company’s environmental initiatives align with its commitment to "carbon peak and carbon neutrality" goals, focusing on high-quality coordinated development[60]. - The company has installed continuous online monitoring systems at all emission outlets, providing real-time data to environmental authorities[63]. Risk Management - The company reported no significant operational risks that could materially affect its production and operations during the reporting period[5]. - The company is enhancing its risk management for international operations, focusing on geopolitical impacts and currency exchange risks[52]. - The company faces risks related to safety, quality, and environmental protection, emphasizing the importance of safety management and compliance with stricter environmental policies[51]. Corporate Governance - The company has established a multi-tier governance structure, including a shareholders' meeting, board of directors, supervisory board, and management team[144]. - The company has experienced changes in its board of directors, with new appointments and resignations due to work adjustments[55]. - The company has committed to not interfere with the management activities of the listed company and not to infringe on its interests[82]. Shareholder and Equity Information - The top ten shareholders include State Power Investment Corporation with 199,579,448 restricted shares, which can be traded starting from July 27, 2025[107]. - The company distributed dividends totaling ¥658,819,254.91 in H1 2023, compared to ¥526,222,197.57 in H1 2022, representing an increase of approximately 25.1%[134]. - The company has not reported any significant litigation or arbitration matters during the reporting period[85]. Research and Development - Research and development expenses amounted to CNY 57,899,635.92, slightly up from CNY 55,009,429.13 in the previous year, indicating a focus on innovation[124]. Financial Instruments and Accounting Policies - The company recognizes revenue based on the transfer of control as the key criterion for revenue recognition[200]. - Financial instruments are classified into financial assets, financial liabilities, and equity instruments based on the contract characteristics and management business model[158]. - The company applies the exchange rate on the transaction date for foreign currency transactions and recognizes exchange differences in the current profit or loss[156].