LYG(SH:600876)2023-08-30 16:00Corporate Governance and Compliance - The company reported a significant commitment to avoid direct or indirect competition with its subsidiaries, as per the 2017 major asset restructuring agreement[3]. - The company has committed to minimize related party transactions post-2017 restructuring, ensuring compliance with disclosure obligations[3]. - The company has committed to not interfere with its management activities and to bear legal responsibilities for any violations of commitments made during the 2020 non-public issuance[5]. - The company has maintained compliance with all corporate governance codes as per the listing rules during the reporting period[118]. - The company confirmed no significant changes in the information disclosed in the 2022 annual report[135]. Financial Performance - The company's operating revenue for the first half of 2023 was RMB 2,778.82 million, an increase of 17.92% year-on-year[76]. - The company's operating profit decreased by 40.82% to RMB 166.46 million compared to the same period last year[76]. - The company's basic earnings per share decreased by 47.37% to RMB 0.20 compared to the same period last year[70]. - The net profit attributable to shareholders of the listed company was CNY 128,742,580.09, a decrease of 48.06% from CNY 247,885,774.91 in the previous year[88]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 27,095,338.17, an increase of 17.47% compared to CNY 23,066,186.61 in the same period last year[88]. - The total comprehensive income for the period was approximately CNY 154.32 million, a decrease from CNY 273.31 million in the previous period[159]. - Basic and diluted earnings per share were both CNY 0.20, compared to CNY 0.38 in the previous period[159]. Related Party Transactions - The company has set annual transaction limits for related party agreements, with adjustments made for 2022 and 2023, including a limit of 3.3 billion for engineering equipment procurement[8]. - As of June 30, 2023, the actual transaction amounts for ongoing related party transactions remained within the annual limits set by the framework agreements[10]. - The company reported a transaction amount limit of RMB 87 million for sales of ultra-thin glass and photovoltaic glass to China National Building Material Group, with actual transactions amounting to RMB 4.399 million in the first half of 2023[12]. - The company received RMB 70.737 million worth of raw materials such as soda ash and silica sand from China National Building Material Group, against a transaction limit of RMB 200 million[12]. - The company has incurred RMB 5.869 million for engineering equipment and installation services from China National Building Material Group, against a transaction limit of RMB 370 million[12]. - The company reported a total of RMB 1.35 million for spare parts provided by China National Building Material Group, against a transaction limit of RMB 4.8 million[12]. Research and Development - The company's research and development expenses increased year-on-year, reflecting a commitment to innovation[79]. - The company has increased its R&D expenses to CNY 107,234,562.42, a rise of 30.29% from CNY 82,302,797.18 in the previous year[97]. Environmental Responsibility - The company has implemented various measures to reduce energy consumption and pollutant emissions, including the use of natural gas in glass production lines[126]. - No significant environmental incidents occurred during the reporting period, and the company conducted four emergency drills related to environmental incidents[128]. - The company did not face any administrative penalties due to environmental issues during the reporting period[129]. - The company has implemented pollution control measures, including the use of high-temperature electrostatic precipitators and SCR denitrification systems[147]. - The company is actively engaging in environmental responsibility initiatives, including public disclosure of pollution data on its website[158]. - The company invested approximately CNY 23.99 million in environmental protection during the reporting period[184]. - The company has established four waste heat power generation stations and five photovoltaic power stations across its production bases, generating a total of 5,718.11 million kWh of electricity in the first half of 2023, equivalent to saving 7,027.56 tons of standard coal and reducing CO2 emissions by approximately 40,508.81 tons[184]. - The company’s carbon capture and purification demonstration project at the Hefei production base can produce 50,000 tons of liquid CO2 annually, achieving a purity of 99.99%[184]. Strategic Initiatives - The company aims to enhance production capacity, increase sales volume, and control costs while focusing on digital transformation and green development[76]. - The company plans to maintain strategic focus and enhance development confidence, aiming for high-quality growth and stable cash flow, prices, sales, and supply[96]. - The company is actively responding to national carbon peak and carbon neutrality policies, promoting low-carbon development in the industry[184]. Corporate Changes - The company underwent a name change for its A-shares from "Luoyang Glass" to "Triumph New Energy" on March 3, 2023, and for its H-shares from "Luoyang Glass Shares" to "Triumph New Energy" on March 22, 2023[67]. - The company appointed a new president and CFO, with Ma Yan resigning from both positions on July 21, 2023, and Zhang Rong and Chen Hongzhao being appointed respectively[137]. Employee and Governance - The total number of employees as of June 30, 2023, was 3,693, with a salary structure based on annual salary for management and skill-based wages for employees[119]. - The company did not distribute or increase shares during the reporting period[138].