xinsteel(SH:600782)2021-08-19 16:00Financial Performance - The company's operating revenue for the first half of 2021 reached ¥54.61 billion, an increase of 71.31% compared to ¥31.88 billion in the same period last year[21]. - Net profit attributable to shareholders was ¥2.40 billion, up 119.88% from ¥1.09 billion year-on-year[21]. - The net profit after deducting non-recurring gains and losses was ¥2.27 billion, representing a 157.58% increase from ¥882 million in the previous year[21]. - Basic earnings per share increased to ¥0.77, a rise of 126.47% compared to ¥0.34 in the same period last year[21]. - Operating costs increased to ¥51.08 billion, reflecting a 70.12% rise from ¥30.03 billion, primarily due to expanded sales scale and rising raw material procurement costs[39]. - The company's net profit for the first half of 2021 reached ¥2,617,593,877.16, a significant increase from ¥957,286,307.61 in the same period of 2020, representing a growth of approximately 173%[127]. - Operating profit for the first half of 2021 was ¥2,888,447,508.02, compared to ¥1,121,269,792.40 in the previous year, indicating an increase of about 158%[125]. Assets and Liabilities - The company's total assets at the end of the reporting period were ¥55.90 billion, up 7.06% from ¥52.22 billion at the end of the previous year[21]. - As of June 30, 2021, the company's total assets amounted to 55.902 billion RMB, with a net asset value of 24.963 billion RMB and a debt-to-asset ratio of 54.10%[29]. - Total liabilities reached ¥30,241,964,005.90, up from ¥28,071,552,271.34, indicating a growth of around 7.8%[108]. - Current liabilities amounted to ¥29,461,017,567.47, compared to ¥27,155,720,361.27, showing an increase of about 8.5%[106]. - The company's equity attributable to shareholders increased to ¥24,962,550,729.22 from ¥23,498,365,150.88, a growth of about 6.2%[108]. Cash Flow - The net cash flow from operating activities was ¥1.19 billion, a decrease of 65.62% from ¥3.45 billion in the previous year[21]. - The cash and cash equivalents at the end of the reporting period were ¥2.35 billion, a decrease of 48.13% from ¥4.52 billion at the end of the previous year[43]. - The net cash flow from operating activities for the first half of 2021 was ¥2,108,282,187.58, slightly up from ¥2,064,451,575.42 in the same period of 2020, indicating a growth of approximately 2.5%[135]. - The total cash inflow from investment activities was ¥5,727,608,583.39, down from ¥6,111,570,035.10 in the previous year, representing a decrease of about 6.3%[135]. Research and Development - Research and development expenses rose by 41.72% to ¥338.20 million, up from ¥238.64 million, driven by increased investment from the subsidiary[39]. - The company is investing heavily in R&D, with a budget allocation of 100 million for new technology development in 2021[192]. Environmental Compliance - The company strictly complies with environmental laws and regulations, ensuring that major pollutants are below government-approved discharge limits[66]. - The company has achieved a 100% operational rate for its environmental protection facilities[72]. - The company is actively implementing ultra-low emission upgrades in line with national environmental policies, including several key projects[72]. Market Strategy - The company is actively pursuing market expansion and product differentiation strategies, including the production of high-grade electrical steel[33]. - The company plans to enhance production capacity and efficiency through ongoing projects, including the commissioning of new coke ovens and sintering machines[34]. - Market expansion plans include entering three new international markets by the end of Q4 2021, aiming for a 10% market share in each[194]. Shareholder Information - The total number of common shareholders as of the end of the reporting period was 45,512[92]. - The largest shareholder, Xinyu Steel Group Co., Ltd., held 1,217,098,232 shares, representing 38.17% of total shares[92]. - The company has not made any interim profit distribution plans for the current period[62]. Social Responsibility - The company has successfully lifted all 146 registered impoverished households in the Yangsong Village out of poverty, achieving a 100% poverty alleviation rate[78]. - The company has implemented measures to ensure the stability of poverty alleviation policies, maintaining support for households that have been lifted out of poverty[78]. - The company has donated medical masks and books as part of its charitable efforts during the reporting period[78].