SOPO(SH:600746)2023-08-21 16:00Financial Performance - The company's operating revenue for the first half of the year was ¥2,430,096,304.37, a decrease of 44.17% compared to the same period last year[24]. - The net profit attributable to shareholders was a loss of ¥256,148,995.87, representing a decline of 134.58% year-over-year[24]. - The basic earnings per share for the period was -¥0.2193, down 134.57% from ¥0.6343 in the previous year[25]. - The weighted average return on equity decreased by 16.91 percentage points to -4.82%[25]. - The total assets at the end of the reporting period were ¥5,839,860,929.52, down 5.77% from the end of the previous year[24]. - The company reported a total of 322,103,284.30 RMB in fair value measurement of financial assets, with a decrease of 34,117.34 RMB in the current period[43]. - The company reported a total comprehensive income of -256,148,995.87 RMB for the period[139]. - The total comprehensive income for the current period is a loss of RMB 197,899,250.01[150]. Market and Operational Activities - The company has not reported any significant market expansion or acquisition activities during the reporting period[5]. - The company is actively pursuing new market opportunities to stabilize sales and production amid low acetic acid prices[34]. - The company has not disclosed any new product or technology developments in this report[5]. - The company operates in the chemical raw materials and products manufacturing industry, focusing on acetic acid and its derivatives, sulfuric acid, and chlor-alkali products[29]. - The chemical industry experienced a downturn, leading to weak demand and significant price declines for the company's main products[30]. - The company completed 63 technical transformation projects aimed at reducing costs and improving environmental safety during the reporting period[33]. - The company is investing in a 20,000 tons/year dimethyl carbonate project, which may face various operational and market risks[48]. Environmental Compliance and Initiatives - The company has advanced environmental protection measures, achieving ultra-low emissions of sulfur dioxide and nitrogen oxides[31]. - The company has implemented stricter environmental standards for emissions, including the "Jiangsu Local Standard - Emission Standards for Air Pollutants from Coal-fired Power Plants" effective from July 1, 2022[57]. - The total emissions of sulfur dioxide from the main emission outlets were reported at 29.99 tons, with a concentration of 2.49 mg/m³, meeting the standard of 35 mg/m³[57]. - The company achieved a 100% compliance rate for environmental monitoring data during the reporting period[58]. - The company has invested in upgrading pollution control facilities, including the thermal power boiler transformation and VOCs treatment systems, to meet stricter environmental regulations[60]. - The company has established a self-monitoring and commissioned routine monitoring system for environmental impact, with data connected to national and local regulatory platforms[59]. - The company has committed to reducing carbon emissions through technological upgrades in its acetic acid production process[66]. - The company received the highest level of "green" environmental rating and was recognized as a "leading enterprise in green development" in Jiangsu Province[65]. Financial Position and Capital Structure - The company’s total equity attributable to shareholders decreased to CNY 4,993,401,760.51 from CNY 5,479,778,366.75, a decline of approximately 8.83%[118]. - The total liabilities increased to CNY 846,459,169.01 from CNY 717,928,837.69, marking an increase of about 17.93%[118]. - The company’s total liabilities and equity at the end of the period amount to CNY 6,147,438,878.09[144]. - The company's registered capital as of June 30, 2023, is RMB 1,167,842,884.00[155]. - The company has pledged 233,000,000 shares as collateral for its issued exchangeable bonds[111]. - The total owner's equity at the end of the current period is RMB 4,929,647,506.82[150]. Governance and Management - The company appointed a new financial director, Cui Kunzu, and a new general manager, Chen Zhilin, during the reporting period[52]. - The financial statements were approved by the board of directors on August 21, 2023[156]. - The company has maintained its ability to continue as a going concern for at least 12 months from the end of the reporting period[159]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[65]. - There are no significant lawsuits or arbitration matters reported during the reporting period[92]. Accounting Policies and Financial Instruments - The company uses RMB as its functional currency for accounting purposes[164]. - The company applies the acquisition method for business combinations, recognizing identifiable assets and liabilities at fair value on the acquisition date[166]. - Financial assets are classified based on the business model for managing them and the contractual cash flow characteristics, including those measured at amortized cost and those measured at fair value[176]. - The company recognizes expected credit losses for financial assets measured at amortized cost and recognizes credit impairment losses based on reasonable and supportable information[181]. - The company recognizes long-term equity investments at the actual purchase price for cash transactions and at the fair value of equity securities issued for equity transactions[197].