CPEC(SH:600339)2021-08-30 16:00Financial Performance - The company's operating revenue for the first half of 2021 was ¥32,704,384,392.28, representing a 15.37% increase compared to ¥28,347,499,987.98 in the same period last year[13]. - The net profit attributable to shareholders of the listed company was ¥480,610,276.37, a significant increase of 74.21% from ¥275,875,902.92 in the previous year[13]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥452,863,613.65, up 80.58% from ¥250,784,567.57 year-on-year[13]. - The net cash flow from operating activities was -¥6,477,526,766.82, an improvement from -¥8,152,438,024.16 in the same period last year[13]. - The basic earnings per share (EPS) was 0.0861 RMB, representing a year-on-year increase of 74.29%[15]. - The comprehensive income tax rate decreased by 19.55 percentage points to 28.55% due to tax planning measures[15]. - The total comprehensive income for the period reached approximately CNY 484.41 million, compared to CNY 280.03 million in the same period last year, representing an increase of 73%[88]. Assets and Liabilities - Total assets at the end of the reporting period were ¥105,564,677,530.89, showing a decrease of 0.70% from ¥106,311,226,085.37 at the end of the previous year[13]. - The net assets attributable to shareholders at the end of the reporting period were ¥24,836,074,224.34, a slight increase of 0.88% from ¥24,620,247,074.53 at the end of the previous year[13]. - Total liabilities were reported at ¥80,663,432,695.99, down from ¥81,629,679,435.68 at the end of 2020[82]. - The total amount of guarantees provided by the company, including those to subsidiaries, is RMB 26,920,710,324.33, which accounts for 108.11% of the company's net assets[70]. Research and Development - The company increased its R&D expenses by 123 million RMB year-on-year, focusing on strategic technology reserves[15]. - Research and development expenses rose significantly by 99.10% to CNY 246,726,456.31 from CNY 123,918,703.03, reflecting increased investment in technology development[25]. Market and Business Strategy - The company is actively exploring new business models such as "F+EPC" and BOT to adapt to market demand changes[18]. - The company aims to enhance its capabilities in low-carbon technologies and services, including CCUS, to align with national green development goals[18]. - The company is focused on expanding its project management services and enhancing its international competitiveness in engineering project management[18]. - The company signed new contracts worth 46.362 billion yuan in the first half of the year, with domestic contracts accounting for 37.914 billion yuan and overseas contracts 8.448 billion yuan[24]. - The external market share reached 61.28%, indicating a significant optimization in market structure[24]. Risk Management - The company has not reported any significant risks that could materially affect its operations during the reporting period[2]. - The company has established a risk warning mechanism and emergency response system to address major risks, ensuring timely and proper handling of emergencies[37]. - The company emphasizes tax risk management as a critical part of project risk management, ensuring compliance with tax laws and regulations[37]. - The company is increasing its focus on foreign exchange risk management due to the expansion of overseas business, optimizing contract settlement terms[37]. Environmental and Social Responsibility - The company has committed to green development and low-carbon strategies, integrating ecological protection into its overall business strategy[48]. - The company has implemented measures to reduce carbon emissions, including strict supervision of construction projects to prevent pollution[49]. - The company completed targeted poverty alleviation efforts, with a total consumption poverty alleviation amount of 1.552 million yuan in the first half of the year[51]. - The company has actively participated in community support initiatives, including providing educational resources and support to local communities[51]. Corporate Governance - The company has undergone significant changes in its board and management, with multiple resignations and new appointments[44]. - The company has maintained a long-term commitment to various promises related to acquisitions and asset restructuring, ensuring compliance with regulations[52]. - The company reported a commitment from its second-largest shareholder, Xinjiang Petroleum Administration, to hold its shares long-term since January 2010[53]. Financial Instruments and Accounting Policies - The company follows the accounting standards issued by the Ministry of Finance, ensuring that financial statements reflect the true financial condition and operating results[122]. - The company assesses credit risk of financial instruments at the balance sheet date to determine if it has significantly increased since initial recognition, measuring loss provisions accordingly[143]. - The company recognizes revenue when the company fulfills performance obligations in contracts, indicating control transfer of goods or services to customers[191]. Shareholder Information - The largest shareholder, China National Petroleum Corporation, holds 3,030,966,809 shares, representing 54.29% of total shares[75]. - The total number of ordinary shareholders as of the end of the reporting period is 71,224[74]. - The total number of shares held by the top ten shareholders is significant, with the largest three shareholders holding over 75% of the total shares[75].