SHANDONG STEEL(SH:600022)2021-08-26 16:00Financial Performance - The company's operating revenue for the first half of 2021 reached ¥58.83 billion, an increase of 46.54% compared to ¥40.15 billion in the same period last year[22]. - Net profit attributable to shareholders was ¥2.10 billion, up 508.69% from ¥345.42 million in the previous year[22]. - The net cash flow from operating activities was ¥6.85 billion, representing a 133.25% increase from ¥2.94 billion in the same period last year[22]. - Basic earnings per share for the first half of 2021 were ¥0.1965, a 512.15% increase from ¥0.0321 in the same period last year[22]. - The weighted average return on net assets rose to 9.48%, an increase of 7.83 percentage points compared to 1.65% in the previous year[22]. - The company reported a net profit of 221,740.21 million RMB for Shandong Iron and Steel Group Rizhao Co., accounting for a significant portion of the total profits from its subsidiaries[1]. - The company achieved a total comprehensive income of ¥1,015,281,754.87 for the first half of 2021, compared to ¥22,989,036.93 in the same period of 2020[152]. Assets and Liabilities - The total assets at the end of the reporting period were ¥75.47 billion, a 10.19% increase from ¥68.49 billion at the end of the previous year[22]. - The net assets attributable to shareholders increased to ¥22.82 billion, up 7.98% from ¥21.13 billion at the end of the previous year[22]. - The company's total liabilities decreased by 38.47% for current liabilities due within one year, amounting to ¥1,824,463,872.58[40]. - Long-term borrowings increased by 42.21% to ¥3,625,000,000.00, which is 4.80% of total liabilities[40]. - The company's total liabilities increased to ¥41.82 billion, up from ¥37.64 billion, representing a growth of approximately 5.2% year-over-year[139]. - Current liabilities totaled ¥33.80 billion, compared to ¥30.37 billion, reflecting an increase of about 8.0%[139]. Research and Development - The company’s R&D expenses rose to CNY 1.06 billion, an increase of 137.59% compared to the previous year, reflecting a stronger focus on product development[36]. - Research and development expenses increased to ¥1.06 billion, up 137.5% from ¥447.52 million in the previous year[149]. - The company is actively pursuing new technology development and product innovation to drive future growth[103]. Environmental Performance - The company achieved a total sulfur dioxide emission of 609 tons and nitrogen oxides of 1,489 tons in the first half of 2021, with particulate matter emissions at 1,212 tons[60]. - The company has implemented a zero discharge policy for industrial wastewater at the Rizhao Steel Premium Base, utilizing advanced treatment technologies[63]. - The company’s air pollution control measures have resulted in a dust removal efficiency greater than 99.9% across various processes at the Rizhao Steel Premium Base[63]. - The company has established a comprehensive wastewater treatment facility with a design capacity of over 730,000 m³/d at the Jinan Steel City base[63]. - The company has been recognized as a provincial-level green factory and is actively applying for national-level green factory status[72]. Market and Strategic Initiatives - The company is actively pursuing market expansion strategies, leveraging its location in a vibrant economic region of China[30]. - The company has plans for market expansion and new product development, focusing on enhancing its competitive edge in the steel industry[94]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its operational capabilities[94]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 260,621[117]. - The largest shareholder, Jinan Steel Group Co., Ltd., holds 3,312,966,194 shares, representing 30.26% of the total shares[117]. - The company repurchased a total of 247,700,062 shares, accounting for 2.26% of the total share capital[124]. Related Party Transactions - The company reported a significant increase in related party transactions, with the ending balance for Beishan Steel (Shandong) Steel Plate Co., Ltd. rising to RMB 349.15 million from an initial balance of RMB 109.60 million[99]. - The company has a substantial related party balance with Shandong Steel Group Co., Ltd., which decreased to RMB 96.95 million from an initial balance of RMB 25.75 million[99]. Financial Discipline - The company maintained a loan repayment rate and interest payment rate of 100%, demonstrating strong financial discipline[132]. - The company has not reported any significant contracts during the reporting period[114]. Community Engagement - The company purchased 9,058 poverty alleviation products worth approximately CNY 937,400 as part of its aid efforts in Tibet and Xinjiang[77]. - The average annual income of villagers in Zhangjie Village increased from CNY 3,000 to over CNY 5,000, and the collective income rose from less than CNY 30,000 to over CNY 100,000[77].