SPM(SH:600459)2023-08-24 16:00Financial Performance - The company achieved a total operating revenue of ¥22,513,306,435.27, an increase of 24.55% compared to ¥18,076,022,545.51 in the same period last year[7]. - The total profit amounted to ¥354,659,043.55, reflecting a 4.04% increase from ¥340,886,060.99 year-on-year[7]. - The net profit reached ¥301,448,006.37, which is an 8.05% increase compared to ¥278,979,227.16 in the previous year[7]. - The net profit attributable to the parent company was ¥289,546,055.15, marking a 10.55% increase from ¥261,913,313.67 in the same period last year[7]. - Basic earnings per share for the first half of 2023 were CNY 0.38, a decrease of 13.64% compared to CNY 0.44 in the same period last year[34]. - Diluted earnings per share for the first half of 2023 were also CNY 0.38, reflecting a 13.64% decline year-over-year[34]. - The weighted average return on net assets decreased to 4.74%, down by 2.02 percentage points from 6.76% in the previous year[34]. - The return on net assets after deducting non-recurring gains and losses was 4.78%, a decrease of 1.55 percentage points from 6.33% in the same period last year[34]. - The net profit after deducting non-recurring gains and losses was ¥292,355,395.08, reflecting a 19.30% increase from ¥245,058,191.57 in the previous year[55]. - The net cash flow from operating activities was ¥918,571,832.74, an increase of 28.55% compared to ¥714,567,467.94 in the same period last year[55]. - The company's total assets decreased by 5.90% to ¥12,303,894,713.40 from ¥13,075,417,784.39 at the end of the previous year[55]. - The net assets attributable to shareholders increased by 3.84% to ¥6,166,345,969.66 from ¥5,938,289,814.37 at the end of the previous year[55]. - The company reported a decrease in cash and cash equivalents to ¥1,511,774,588.32 as of June 30, 2023, down from ¥2,589,100,966.66 at the end of 2022, representing a decline of 41.8%[77]. - The company’s total liabilities as of June 30, 2023, were ¥4,241,794,399.15, a decrease from ¥4,803,799,429.51 at the end of 2022, reflecting a reduction of 11.7%[80]. Market and Industry Trends - The company is actively expanding its market presence in Southeast Asia and Europe, particularly in the precious metals supply service sector[7]. - The semiconductor market is expected to continue growing, driven by domestic production and technological advancements in 6G communication and quantum computing[7]. - The precious metals recycling market is facing challenges due to low demand and price declines, leading to increased competition and reduced profit margins[7]. - The precious metals industry in China is growing faster than the global average, driven by demand from automotive, new energy, and electronic information sectors[40]. - The market for precious metal recycling is expected to grow as the supply of high-grade primary resources becomes increasingly scarce[40]. Strategic Initiatives - The company is focusing on enhancing its supply chain integration and innovation capabilities to support high-quality development in the precious metals industry[2]. - The company is increasing R&D investments and product development in emerging sectors such as wind power and smart manufacturing[7]. - The company is committed to optimizing product structures and enhancing supplier verification processes to strengthen its market influence[7]. - The company has established a comprehensive precious metals industry chain, focusing on three core business areas: new material manufacturing, resource recycling, and supply services[40]. - The company is positioned to provide one-stop comprehensive services in the precious metals sector, from raw material supply to new material manufacturing and resource recovery[40]. - The company has established a comprehensive recovery and utilization industrial base for secondary resources, enhancing its ability to secure and control precious metal resources[69]. - The company is enhancing its supply capabilities in the Guangdong-Hong Kong-Macao Greater Bay Area by establishing a sales center in Shenzhen[199]. Environmental Compliance - The company reported total emissions of nitrogen oxides at 0.0614 tons, sulfuric mist at 0.01562 tons, and hydrochloric acid at 0.236 tons for the first half of 2023, all within regulatory limits[129]. - The company achieved a total nitrogen emission of 0.00414 tons and a chemical oxygen demand of 0.01855 tons from wastewater treatment, both meeting the required standards[131]. - The company’s emissions of non-methane total hydrocarbons were recorded at 0.01167 tons, also within compliance limits[129]. - The company is classified as a key unit for environmental supervision, indicating a focus on compliance with pollution discharge permits[142]. - The environmental compliance reports indicate that all monitored pollutants are within the acceptable limits as per the relevant standards[143]. - The company has implemented measures to ensure compliance with pollution discharge standards, reflecting its commitment to environmental responsibility[148][153]. Research and Development - The company has a strong focus on talent development, integrating talent cultivation with innovation and industry needs to enhance its competitive edge[47]. - The company has achieved ISO9001:2015 and IATF 16949:2016 certifications, ensuring high-quality management standards[47]. - The company has built a complete technology achievement transformation system, covering basic theoretical research, application development, and industrialization of key technologies[67]. - The company is recognized as a major force in knowledge and technology innovation in the domestic precious metals sector, actively participating in the global precious metals industry chain[68]. - The company is focusing on technological innovation, talent development, and risk prevention to ensure high-quality industrial growth[199]. Financial Instruments and Risk Management - The company classifies financial assets into three categories: measured at amortized cost, measured at fair value with changes recognized in other comprehensive income, and measured at fair value with changes recognized in profit or loss[126]. - The company utilizes a three-level hierarchy for determining the fair value of financial assets and liabilities, prioritizing observable inputs[138]. - The company assesses expected credit losses based on significant increases in credit risk since initial recognition, ensuring prudent financial management[150]. - The company has a clear distinction between financial liabilities and equity instruments, adhering to relevant accounting principles[150]. - The company utilizes a financing model for accounts receivable, reflecting fair value measurement and changes recorded in other comprehensive income, with a focus on both cash flow collection and asset sales[167]. Production and Sales Achievements - The company achieved a significant increase in revenue and profit in the precious metals new materials sector, with a year-on-year growth of 516% in photovoltaic silver powder production[199]. - The company successfully released production capacity for its subsidiaries, with the industrial application of cyclohexane dehydrogenation catalysts achieving batch sales[199]. - The company expanded its market share by upgrading product structures and enhancing sales of platinum alloy catalytic nets and bonding wires, with substantial year-on-year sales growth[199]. - The company completed the first phase of on-site pre-examination for gold delivery brand certification at the Shanghai Gold Exchange, and initial review for silver procurement under LBMA certification[199]. - The company is actively developing the "Guiyan Gold" electronic trading platform, successfully integrating Reuters industry information and price data to facilitate seamless physical trading[199].