TGWC(SH:600116)2021-08-05 16:00Financial Performance - The company's operating revenue for the first half of 2021 reached CNY 4,567,345,739.49, a significant increase of 330.73% compared to CNY 1,060,362,024.12 in the same period last year [22]. - Net profit attributable to shareholders of the listed company was CNY 431,891,742.88, representing a year-on-year increase of 111.51% from CNY 204,191,313.80 [22]. - The net profit after deducting non-recurring gains and losses was CNY 406,860,120.61, up 194.43% from CNY 138,185,220.18 in the previous year [22]. - The net cash flow from operating activities was CNY 144,451,261.85, an increase of 116.93% compared to CNY 66,589,583.64 in the same period last year [24]. - Total assets at the end of the reporting period amounted to CNY 20,482,015,449.30, reflecting a growth of 5.13% from CNY 19,483,139,404.28 at the end of the previous year [24]. - Net assets attributable to shareholders of the listed company increased to CNY 10,467,090,379.23, a rise of 2.53% from CNY 10,209,024,108.90 at the end of the previous year [24]. - Basic earnings per share for the first half of 2021 were CNY 0.23, up 27.78% from CNY 0.18 in the same period last year [24]. - The weighted average return on net assets decreased to 4.16%, down 0.76 percentage points from the previous year [24]. - The company reported a total liability of CNY 9.758 billion, which increased by 8.31% since the beginning of the year [48]. - The asset-liability ratio stood at 47.64%, an increase of 1.40 percentage points year-on-year [48]. Revenue Sources - The company's operating revenue and net profit attributable to shareholders increased year-on-year, primarily due to a major asset restructuring completed in May 2020 and an increase in electricity sales volume [25]. - The total electricity generation in the first half of 2021 was approximately 38,717 billion kWh, representing a year-on-year growth of 13.7% [37]. - The sales volume of electricity reached 6.444 billion kWh, representing a growth of 23.14% compared to 5.233 billion kWh in the same period last year [50]. - The average ex-factory price of electrolytic manganese in the first half of 2021 was approximately 16,100 RMB/ton, reflecting an upward trend due to improved supply-demand balance [38]. - The company achieved an electrolytic manganese production volume of 43,700 tons in the first half of 2021, positioning it among the top producers in the industry [39]. Investments and Projects - The total investment in power generation projects in the first half of 2021 reached 189.3 billion RMB, a year-on-year increase of 8.9% [38]. - The company plans to invest CNY 200 million to establish a "Green Movement Industry Development Platform" to capitalize on the electric heavy truck market [54]. - The company has established a joint venture in Jiujiang, Jiangxi Province, focusing on low-carbon smart demonstration parks and incremental distribution network infrastructure [54]. - The company has made substantial investments in ongoing projects, including the Wanzhou urban function restoration power grid renovation project [6]. - The company is investing CNY 1.11 billion in the Wanzhou cogeneration project, with the project company already established and construction ongoing [99]. Environmental and Social Responsibility - The company is committed to safety and environmental protection, implementing comprehensive management systems and adhering to national carbon reduction goals [59]. - The company emphasizes the need for internal management integration and talent development to mitigate management risks associated with its expansion under the 14th Five-Year Plan [110]. - The company has helped 126 households in Wanzhou District and 30 households in Tumia Village achieve zero return to poverty, along with 93 households in Yuyan Village and 78 households in Longchi Village in Qianjiang District [144]. - The company plans to increase its investment in poverty alleviation funds and improve the efficiency of fund usage to ensure no large-scale return to poverty [144]. - The company is focused on improving living conditions in rural areas, enhancing sanitation, and beautifying the environment [144]. Governance and Compliance - The company has not proposed any profit distribution plan or capital reserve transfer to increase share capital for this reporting period [6]. - There are no significant non-operating fund occupation situations by controlling shareholders or related parties [7]. - The company has confirmed the recognition of right-of-use assets due to the implementation of new leasing standards starting January 1, 2021 [7]. - The company has committed to ensuring that any idle funds will not be used for real estate development [171]. - The company has maintained compliance with all legal obligations and has not faced any penalties or corrective actions during the reporting period [173]. Future Outlook and Strategy - The company plans to enhance its "green energy" advantage by promoting comprehensive energy and new energy businesses in line with national carbon neutrality goals [40]. - The company is actively exploring new energy projects that align with its core business, aiming for stable revenue growth and enhanced market competitiveness [67]. - The company plans to expand into market-oriented electricity sales, integrated energy, and renewable energy sectors, but may encounter risks in meeting expected targets due to macroeconomic and competitive factors [112]. - The company has established a strategy to dynamically adjust its new business development plans based on changes in the macroeconomic environment and industry trends [112]. - The company aims to enhance its core electricity distribution business, focusing on improving the quality and efficiency of existing assets while increasing self-generated electricity [63].