COMEC(SH:600685)2023-08-30 16:00Financial Performance - The company's operating revenue for the first half of 2023 reached ¥5,982,333,803.04, representing a 40.06% increase compared to the same period last year[15]. - The net profit attributable to shareholders of the listed company was ¥12,665,284.90, a decrease of 33.09% year-on-year[15]. - The net profit after deducting non-recurring gains and losses was ¥15,478,915.06, showing a significant increase of 636.89% compared to the previous year[15]. - The net cash flow from operating activities was -¥2,603,497,437.82, indicating a decline of 303.48% compared to the previous year[15]. - Basic earnings per share for the first half of 2023 were ¥0.0090, down 32.84% from the same period last year[16]. - The diluted earnings per share also stood at ¥0.0090, reflecting the same percentage decrease[16]. - The weighted average return on net assets was 0.08%, a decrease of 0.06 percentage points compared to the previous year[16]. - The company reported a total profit of RMB 13,435,756.83 for the first half of 2023, down 52.6% from RMB 28,338,483.12 in the previous year[107]. - The company reported a net profit attributable to shareholders of RMB 0.13 billion, with earnings per share of RMB 0.009[31]. - The company reported a decrease in investment income, reporting a loss of RMB 20,287,931.58 compared to a loss of RMB 24,331,129.96 in the previous year[107]. Assets and Liabilities - The total assets of the company at the end of the reporting period were ¥46,866,852,879.69, a slight increase of 0.77% from the end of the previous year[15]. - The total value of the company's hand-held orders reached approximately RMB 56.11 billion, with shipbuilding orders valued at RMB 53.66 billion, including 116 vessels[30]. - Cash and cash equivalents decreased by 33.22% to CNY 9,891,953,817.90, accounting for 21.11% of total assets[35]. - Accounts receivable increased by 41.48% to CNY 1,632,835,180.14, representing 3.48% of total assets[35]. - Inventory rose by 24.34% to CNY 5,413,145,291.23, which is 11.55% of total assets[36]. - Contract assets increased by 67.03% to CNY 3,832,164,584.23, making up 8.18% of total assets[36]. - Total liabilities decreased to RMB 26.75 billion, down 3.63% from RMB 27.76 billion at the end of 2022[103]. - Short-term borrowings decreased significantly to RMB 1.61 billion, down 44.2% from RMB 2.88 billion at the end of 2022[103]. Research and Development - The company has established multiple technology innovation platforms, enhancing its research and development capabilities in high-tech and high-value-added products[27]. - The company’s R&D expenses amounted to RMB 231.43 million, an increase of 4.68% compared to the previous year[32]. - Research and development expenses rose to RMB 231,432,606.50, reflecting a year-over-year increase of 4.1% from RMB 221,092,386.17[107]. Environmental and Social Responsibility - The company was included in the 2023 Guangzhou Environmental Supervision Key Units list, indicating its status as a significant pollutant discharge unit[58]. - The average emission concentration of toluene from Wenchong Shipyard was reported at 1.89 mg/m³, with a total discharge of 744 KG[59]. - The company reduced carbon dioxide equivalent emissions by 5,222 tons during the reporting period[68]. - The Longxue plant's distributed photovoltaic power station generated 6.5919 million kWh of clean electricity, reducing carbon emissions by 3,475 tons[68]. - The company purchased agricultural products worth 173,700.9 yuan from targeted poverty alleviation counties[69]. Corporate Governance - The company guarantees that it will not engage in related party transactions that could harm the interests of shareholders, committing to fair market practices[74]. - The company has established an independent financial accounting department to ensure autonomous financial decision-making[71]. - The company has committed to transparency in its financial dealings and adherence to legal regulations regarding shareholder rights[74]. - The company has complied with all corporate governance codes as per the Hong Kong Stock Exchange regulations[94]. Financial Instruments and Risk Management - The company faces financial risks including exchange rate fluctuations, particularly related to USD-denominated export ship orders, and plans to implement risk prevention strategies using financial instruments[51]. - Interest rate risks arise from bank loans, with potential impacts from market interest rate changes; the company is developing effective interest rate risk management plans[52]. - The company is exposed to customer risks due to potential financing difficulties faced by shipowners, which could lead to contract breaches; measures are being taken to enhance contract compliance management[52]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 78,614[95]. - The largest shareholder, HKSCC NOMINEES LIMITED, holds 589,431,618 shares, accounting for 41.70% of the total shares[96]. - The second largest shareholder, China Shipbuilding Industry Group Co., Ltd., holds 481,337,700 shares, representing 34.05% of the total shares[96]. Audit and Compliance - The company has appointed Lixin as the auditor for the 2023 annual financial report, with an audit fee of RMB 1.26 million[76]. - The company has no non-standard audit opinions from the previous annual report[76]. - The company reported no significant litigation or arbitration matters during the reporting period[77]. Operational Highlights - The company completed the delivery of 19 vessels, totaling 487,600 deadweight tons[31]. - The new ship order intake for the period was RMB 7.33 billion, a year-on-year increase of 132.94%[30]. - The company aims to enhance its core competitiveness in R&D and construction technology to explore new growth points[30].