ST海越(600387) - 2022 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2022 reached ¥6,123,614,827.79, representing an increase of 89.56% compared to ¥3,230,374,669.56 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was ¥42,986,697.51, a 96.71% increase from ¥21,852,953.25 in the previous year[19]. - The basic earnings per share for the first half of 2022 was ¥0.09, an increase of 80.00% compared to ¥0.05 in the same period last year[21]. - The net profit after deducting non-recurring gains and losses was ¥31,138,087.79, up 64.42% from ¥18,937,759.84 in the same period last year[19]. - The total profit for the first half of 2022 was CNY 83,535,546.85, compared to CNY 41,560,141.45 in the same period of 2021, reflecting a growth of 100.0%[94]. - The company reported a net profit of CNY 50,517,261.47, which is a 88.5% increase from CNY 26,843,406.27 in the first half of 2021[94]. Cash Flow - The net cash flow from operating activities was -¥1,118,167,062.96, which is a decline of 23.29% compared to -¥906,946,060.33 in the same period last year[19]. - The net cash flow from investment activities was -¥179,280,668.61, a significant decline of 271.75% compared to -¥48,226,716.08 in the same period last year[19]. - The net cash flow from financing activities was -¥83,825,366.38, which is a decrease of 524.76% compared to -¥13,417,261.06 in the previous year[19]. - The cash inflow from operating activities for the first half of 2022 was CNY 7,389,014,930.26, a significant increase of 77.5% compared to CNY 4,171,997,951.91 in the first half of 2021[97]. - The total cash outflow from operating activities was CNY 8,507,181,993.22, compared to CNY 5,078,944,012.24 in the first half of 2021[97]. - The company experienced a net decrease in cash and cash equivalents of CNY -1,381,164,317.48 for the period, compared to CNY -968,702,523.55 in the same period last year[98]. Assets and Liabilities - The total assets of the company increased by 15.65% to ¥4,906,812,059.84 from ¥4,242,891,698.73 at the end of the previous year[19]. - The company's net assets attributable to shareholders decreased by 3.95% to ¥3,088,875,311.38 from ¥3,215,802,758.56 at the end of the previous year[19]. - Total liabilities increased to RMB 1,602,098,551.18 from RMB 839,920,467.73, marking a rise of around 91%[83]. - The total current assets as of June 30, 2022, amounted to RMB 3,221,247,080.10, an increase from RMB 2,539,014,786.59 at the beginning of the period, reflecting a growth of approximately 27%[82]. - The company's inventory increased by 352.95% to CNY 1,046,287,986.43, reflecting higher stock levels in response to increased sales[35]. Operational Highlights - The oil and gas business in the Zhuji area recorded a total sales volume of 538,200 tons, generating sales revenue of 3.404 billion yuan[29]. - The subsidiary Northern Petroleum achieved an oil turnover of 1.569 million tons and a trade volume of 430,500 tons, resulting in sales revenue of 1.530 billion yuan[29]. - The property leasing subsidiary, Hangzhou Haiyue Real Estate, reached a historical high in overall rental rate, generating operating income of 12.7272 million yuan in the first half of 2022[30]. - The company maintained a stable operation in the biodiesel import and export business to ensure business stability amid market challenges[29]. - The company has a total of 5.2 million tons of finished oil storage capacity and 2,200 cubic meters of liquefied gas storage capacity in Zhuji[25]. Strategic Initiatives - The company plans to expand its market presence through increased sales activities and potential acquisitions in the energy sector[32]. - The company has established long-term strategic partnerships with major upstream suppliers in the petrochemical industry, enhancing its market competitiveness[27]. - The company is focusing on expanding its market presence and enhancing its product offerings, although specific new products or technologies were not detailed in the provided data[89]. Risk Management - The company faces economic downturn risks due to reduced production and sales among upstream and downstream partners, influenced by the pandemic and weak demand in the refined oil terminal market[44]. - The company is exposed to industry volatility risks due to fluctuations in macroeconomic policies and international crude oil prices, which could impact future operations[45]. - The company will strengthen risk management and adjust business strategies proactively in response to signs of industry volatility[45]. Governance and Compliance - The company has not proposed any profit distribution or capital reserve transfer plans for the half-year period, indicating a focus on retaining earnings[53]. - There were changes in the supervisory board, with Li Yang resigning and Li Hang being elected as a new supervisor[52]. - The company has committed to minimizing related party transactions with Haiyue Energy, ensuring that unavoidable transactions are conducted at fair market prices[58]. Legal Matters - The company has faced significant litigation, including a dispute with China National Petroleum Corporation, which resulted in the rejection of claims by both parties in the first instance, with the case now being appealed[63]. - The total amount of guarantees provided by the company, excluding those to subsidiaries, is 12,804 million RMB, which accounts for 3.87% of the company's net assets[69]. Accounting Policies - The financial statements are prepared based on the assumption of going concern and comply with the relevant accounting standards issued by the Ministry of Finance[120][123]. - The company confirms that there are no significant doubts regarding the going concern assumption for the next 12 months[121]. - The company uses Renminbi as the functional currency, except for two subsidiaries that use USD and HKD respectively[126].