SCC(SH:600740)2023-08-21 16:00Financial Performance - The company reported a total comprehensive income of RMB 927,108,181.37 for the first half of 2023[8]. - The company reported a net loss of RMB 384,318,173.10 attributed to owners during the reporting period[7]. - The company's operating revenue for the first half of 2023 was approximately ¥4.46 billion, a decrease of 32.08% compared to ¥6.56 billion in the same period last year[133]. - The net profit attributable to shareholders for the first half of 2023 was approximately ¥916.16 million, down 56.15% from ¥2.09 billion year-on-year[133]. - Basic earnings per share for the first half of 2023 is 0.3576 yuan, a decrease of 56.15% compared to the same period last year[124]. - The company reported a basic earnings per share after deducting non-recurring gains and losses of 0.3572 yuan, a decrease of 56.08% year-on-year[124]. - The net cash flow from operating activities was negative at approximately -¥367.34 million, a decline of 381.21% compared to ¥130.63 million in the previous year[133]. - The company reported a total revenue of CNY 4,456,256,469.26, a decrease of 32.08% compared to the same period last year[142]. - The net profit attributable to shareholders was CNY 91,615.97 million, reflecting a significant decline due to lower sales and prices of coke products[140]. Assets and Liabilities - The company reported a total equity of RMB 15,950,991,570.76 as of the end of the reporting period[9]. - The company’s total liabilities were RMB 7,066,794,059.76 at the end of the reporting period[9]. - The company’s total assets were RMB 15,950,991,570.76 at the end of the reporting period[9]. - The company's total assets at the end of the reporting period were approximately ¥24.93 billion, an increase of 6.29% from ¥23.46 billion at the end of the previous year[133]. - The net assets attributable to shareholders increased by 2.76% to approximately ¥14.85 billion from ¥14.45 billion at the end of the previous year[133]. Inventory and Capitalization - The company categorizes its inventory into raw materials, semi-finished products, work in progress, finished goods, low-value consumables, and turnover materials[29]. - The company uses the weighted average method for inventory valuation upon issuance, ensuring accurate cost allocation[29]. - The company capitalizes development phase expenditures only when specific criteria are met, otherwise, they are expensed in the current period[25]. - The company capitalizes interest expenses on specialized borrowings, with the capitalization rate based on the weighted average interest rate of general borrowings[41]. Employee Benefits and Provisions - The company recognizes employee benefits costs related to defined benefit plans based on actuarial valuations conducted by independent actuaries[70]. - The company confirms termination benefits when it cannot withdraw the offer or when it recognizes costs related to restructuring[71]. - The company recognizes short-term employee benefits as liabilities and expenses in the period in which services are provided[83]. - The company provides long-term employee benefits in accordance with the established contribution plan and benefit plan regulations[85]. - The company recognizes provisions for liabilities when they meet specific criteria, including current obligations and reliable measurement of amounts[74]. Environmental Compliance and Performance - The company reported a total of 4.17 tons of sulfur dioxide emissions in the first half of 2023, with no exceedances of emission standards[168]. - The company is committed to improving its environmental performance through measures such as desulfurization and dust removal systems[168]. - The company has completed environmental impact assessments for its projects, including coking and tar processing, and has passed the completion environmental protection acceptance[171]. - The company holds a valid pollution discharge permit effective from August 17, 2021, to August 16, 2026[171]. - The company has implemented pollution control measures, achieving a dust removal efficiency of 99% in its coking operations[184]. - The company has established a real-time monitoring and warning system for dust pollution, ensuring compliance with regulatory standards[190]. - The company has received environmental penalties during the reporting period, details of which are documented[194]. - The company faced administrative penalties for exceeding SO2 emissions from its auxiliary boiler for 3 hours due to a malfunctioning desulfurization facility, with a penalty amounting to 35.3 million[197]. - The company’s carbon black plant exceeded NOX emissions for 7 hours and smoke dust for 2 hours during a monitoring period, resulting in a penalty of 58.9 million[197]. Operational Efficiency and Management - The company has conducted research on three technologies, including "Strengthened Flocculation Technology for High-Salinity Coking Wastewater," and has authorized five national patents[137]. - The company implemented a lean management approach to enhance operational efficiency and reduce costs across various departments[140]. - The company aims to achieve "zero hidden dangers" in safety management, maintaining a stable safety production situation without major accidents during the reporting period[140]. - The company is actively monitoring macroeconomic trends and adjusting its operational plans to enhance competitiveness[167]. - The company has increased collaboration with long-term suppliers to mitigate resource supply risks, particularly for raw materials like coal and coal tar[167]. Financial Instruments and Credit Risk - The company assesses expected credit losses based on historical experience and current conditions, along with forecasts of future economic conditions[100]. - Financial assets are measured at fair value, with gains or losses recognized in profit or loss or other comprehensive income depending on their classification[92]. - The company evaluates whether the credit risk of financial instruments has significantly increased since initial recognition[100]. - The company recognizes expected credit losses on financial assets at each balance sheet date, impacting the financial statements accordingly[26]. - The company measures expected credit losses for financial assets based on their credit risk stages, with different approaches for each stage[79].