Whirlpool (China) (SH:600983)2021-08-19 16:00Financial Performance - The company's operating revenue for the first half of 2021 was CNY 2,543,248,245, representing a 17.94% increase compared to CNY 2,156,408,660.92 in the same period last year[24]. - The net profit attributable to shareholders for the first half of 2021 was a loss of CNY 129,072,858.96, which is an 11.38% increase in loss compared to a loss of CNY 115,889,354.26 in the previous year[24]. - The net cash flow from operating activities improved significantly, reaching CNY 4,332,537.91, compared to a negative cash flow of CNY -738,565,374.21 in the same period last year, marking a 100.59% change[24]. - The basic earnings per share for the first half of 2021 was -CNY 0.17, a decrease of 12.27% from -CNY 0.15 in the same period last year[25]. - The company reported a weighted average return on equity of -3.70%, which is a decrease of 0.55 percentage points compared to -3.15% in the previous year[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -188.29 million yuan, a decline of 45.31% compared to the previous year[41]. - The company reported a total comprehensive loss of ¥129,364,526.61 for the first half of 2021, compared to a loss of ¥115,797,022.14 in the same period of 2020[152]. - The total comprehensive income for the current period showed a decrease of 134,132,046.98 RMB compared to the previous period[186]. Shareholder Information - The company’s major shareholder, Galanz, acquired 391,661,649 shares, representing approximately 51.10% of the total share capital during the tender offer period[10]. - As of the end of the reporting period, Galanz held 412,636,818 shares, accounting for approximately 53.84% of the total share capital[10]. - The company has no plans for profit distribution or capital reserve transfer to increase share capital during this reporting period[6]. - The total number of ordinary shareholders at the end of the reporting period was 20,388[124]. - The total number of shares held by the top ten shareholders was 412,636,818, accounting for 53.84% of the total shares[126]. Assets and Liabilities - The total assets of the company as of the end of the reporting period were CNY 6,699,503,405.64, a decrease of 4.47% from CNY 7,013,158,653.76 at the end of the previous year[24]. - The net assets attributable to shareholders decreased by 3.64%, amounting to CNY 3,421,893,777.00 compared to CNY 3,551,258,303.61 at the end of the previous year[24]. - The company's total liabilities decreased from ¥2,636,802,165.17 in the previous year to ¥2,440,511,364.26[150]. - Total equity decreased from ¥3,270,474,755.25 to ¥3,136,342,708.27, reflecting a decline of approximately 4.1%[150]. - Total assets decreased from ¥7,013,158,653.76 to ¥6,699,503,405.64, a decline of approximately 4.5%[139]. - Total liabilities decreased from ¥3,461,900,350.15 to ¥3,277,609,628.64, a reduction of about 5.3%[141]. Operational Strategy - Whirlpool (China) focuses on a dual-brand strategy with "Whirlpool" and "Dido," aiming to meet the high-end consumer demand through innovative health technology products[32]. - The company operates a complete independent system for R&D, design, procurement, production, sales, and service, facilitating both domestic and international business activities[34]. - The company aims to leverage its global resources and technological innovations to provide high-quality products and services to the global market[38]. - Whirlpool (China) is focusing on expanding its cross-border e-commerce and steadily growing its export business despite rising raw material prices and logistics costs[52]. - The company is enhancing its brand power through various marketing campaigns and digital media interactions, significantly increasing brand recognition and consumer engagement[45]. Environmental Compliance - The wastewater discharge from the Nankang Industrial Park Phase I and II totaled 111,579 tons, with an average chemical oxygen demand (COD) concentration of 127 mg/L, and total COD emissions of 14.17 tons, which is below the permitted limits[82]. - The company has implemented various air pollution control facilities, including UV photocatalytic oxidation systems, with capacities ranging from 12,000 m³/hour to 130,000 m³/hour, all operating normally[89]. - The company has received multiple discharge permits from the local environmental authorities, ensuring compliance with environmental regulations[82]. - The company continues to invest in pollution control technologies to enhance environmental sustainability and compliance with regulatory standards[89]. - The company has established a comprehensive emergency response plan for environmental incidents, which has been filed with the Hefei High-tech Zone Ecological Environment Bureau[93]. Management and Governance - The company has undergone a significant change in its board and management structure following a completed takeover bid[74]. - The company is focusing on enhancing its internal governance structure in response to changes in shareholder composition[74]. - The actual controller of the company changed to Mr. Liang Zhaoxian and Mr. Liang Huiqiang after the completion of the tender offer, with a 51.1% shareholding[114]. - The company has committed to resolving potential competition issues with its actual controller's enterprises within 60 months following the tender offer completion[108]. - There were no significant lawsuits or arbitration matters during the reporting period[116].