SCC(SH:600740)2021-08-23 16:00Financial Performance - The company's operating revenue for the first half of 2021 reached ¥5,029,320,081.98, representing a 61.38% increase compared to ¥3,116,497,351.04 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was ¥1,375,305,462.86, a significant increase of 206.16% from ¥449,204,419.22 in the previous year[18]. - The net cash flow from operating activities was ¥501,613,094.34, showing an impressive increase of 817.71% compared to ¥54,659,091.27 in the same period last year[18]. - Basic earnings per share for the first half of 2021 were ¥0.5368, a 206.22% increase from ¥0.1753 in the same period last year[18]. - The weighted average return on net assets increased by 6.87 percentage points to 11.08% from 4.21% in the previous year[18]. - The company reported a net profit excluding non-recurring gains and losses of ¥1,368,936,625.09, which is a 208.13% increase from ¥444,276,181.09 in the same period last year[18]. - The company achieved total assets of CNY 1,958,404.12 million and net assets of CNY 1,267,082.30 million during the reporting period[25]. - Operating revenue reached CNY 502,932.01 million, with an operating profit of CNY 136,850.73 million[25]. - The net profit attributable to shareholders was CNY 137,530.55 million[25]. - The company reported a net profit of 275,322.11 million yuan for the first half of 2021[40]. Cash Flow and Financial Position - The company's cash and cash equivalents decreased by 60.14% year-on-year, amounting to approximately CNY 1.70 billion, due to the settlement of notes payable[33]. - The company reported a total current assets of approximately CNY 2.32 billion as of June 30, 2021, a decrease of 55.16% from CNY 5.18 billion on December 31, 2020[137]. - The company's cash and cash equivalents decreased to approximately CNY 1.70 billion from CNY 4.26 billion, representing a decline of 60.24%[137]. - Long-term borrowings increased by 247.62% year-on-year, reaching approximately CNY 730 million, indicating new long-term debt incurred during the period[33]. - The total assets decreased by 8.52% to ¥19,584,041,207.84 from ¥21,407,133,467.31 at the end of the previous year[18]. - The total liabilities decreased from ¥9,789,781,696.92 to ¥6,913,218,184.47, a decline of approximately 29.5%[140]. Research and Development - Research and development expenses surged by 681.59% year-on-year, amounting to approximately CNY 4.24 million, reflecting an increase in R&D projects[30]. - The company has completed applications for multiple technology advancement awards and patents during the reporting period[25]. Market and Competitive Position - The company maintains a strong competitive edge through proprietary technology and a robust marketing system, supported by abundant coal resources[25]. - The market for coke and related chemical products remains stable, with prices and profits at relatively high levels due to supply-demand balance[25]. - The company has a strong brand advantage, maintaining high product pricing and customer satisfaction in a competitive market[25]. - The company is focused on expanding its market presence and enhancing operational efficiency through innovative practices[25]. Environmental and Safety Management - The company emphasizes safety production standards and has implemented a three-year action plan for safety management[25]. - The company has implemented pollution control facilities, including a dry desulfurization and low-temperature SCR denitrification system, which are operating normally[54]. - The company has constructed fully enclosed coal and coke yards, with the coal yard covering an area of 35,467.71 m² and the coke yard covering 8,600 m², both operating effectively[54]. - The company has established a wastewater treatment and reuse system, ensuring that treated wastewater is reused in production without discharge[54]. - The company has a dust removal efficiency of 99% for the gas recovery and dust removal device installed at the coke oven door, demonstrating significant operational effectiveness[56]. - The company has reported no instances of exceeding pollutant discharge standards during the reporting period[52]. Shareholder and Corporate Governance - The company has established a corporate governance structure with a board of directors, supervisory board, and shareholders' meeting[190]. - The company has committed to maintaining its independence and ensuring compliance with relevant laws and regulations regarding related party transactions[65]. - The company has established a long-term commitment to protect shareholder interests and prevent asset dilution[73]. - The company has a diverse shareholder base, including state-owned enterprises and private investors, contributing to its stability[121]. Related Party Transactions and Commitments - The estimated related party transactions for 2021 are projected to be between 4.83 billion and 8.261 billion RMB[96]. - The company reported a related party transaction amount of 536.35 million RMB with Shanxi Taigang Stainless Steel Co., accounting for 13.72% of similar transaction amounts[96]. - The company has committed to timely changes in ownership rights and will bear all responsibilities arising from any disputes during the transfer process[79]. Capital Structure and Changes - The total number of shares after the recent changes is 2,562,121,154, with 51.14% being restricted shares and 48.86% being unrestricted shares[111]. - The company distributed a cash dividend of 0.2 RMB per share and increased capital by issuing 591,258,728 new shares, totaling a cash distribution of 394,172,485.20 RMB[115]. - The company reported a total of 1,970,862,426 shares before the recent changes, with a significant increase in total shares due to the capital increase[114]. - The company’s total equity increased to ¥12,611,635,011.55 from ¥11,532,958,552.79 in the previous year, reflecting a growth of approximately 9.3%[149]. Risks and Challenges - The company faces macroeconomic fluctuation risks and plans to adjust its operational strategies accordingly to enhance competitiveness[41]. - Environmental protection policies are becoming stricter, leading to increased costs and capital expenditures for the company[41]. - The company has established long-term supplier relationships to mitigate resource supply risks, particularly for raw materials like coal and coal tar[41].