ShaanGu(SH:601369)2022-08-23 16:00Financial Performance - The company's operating revenue for the first half of 2022 was ¥5,879,874,467.71, an increase of 8.07% compared to ¥5,440,874,761.56 in the same period last year [20] - The net profit attributable to shareholders of the listed company was ¥572,452,666.87, reflecting an increase of 11.68% from ¥512,563,035.04 in the previous year [20] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥502,229,519.78, up 19.30% from ¥420,966,211.17 year-on-year [20] - The net cash flow from operating activities was ¥663,459,951.74, which is a 6.85% increase compared to ¥620,902,641.81 in the same period last year [20] - The net assets attributable to shareholders at the end of the reporting period were ¥7,625,646,629.71, a 1.62% increase from ¥7,504,245,917.85 at the end of the previous year [20] - Total assets at the end of the reporting period were ¥26,513,817,300.21, showing a decrease of 2.80% from ¥27,276,493,187.67 at the end of the previous year [20] - Basic earnings per share for the reporting period (1-6 months) increased to 0.35 CNY, up 12.90% from 0.31 CNY in the same period last year [22] - Diluted earnings per share rose to 0.33 CNY, reflecting a 6.45% increase compared to 0.31 CNY in the previous year [22] - The weighted average return on equity increased to 7.31%, up 0.24 percentage points from 7.07% year-on-year [22] Business Strategy and Market Position - The company is positioned as a leader in the equipment manufacturing industry, benefiting from rapid market demand growth driven by dual circulation and infrastructure investment recovery [29] - The company’s business model includes a "1+7" service framework, providing seven value-added services centered around distributed energy system solutions [29] - The company is focusing on optimizing energy consumption and operational costs through intelligent control and professional operation modes in distributed energy solutions [30] - The company is integrating automation and information technology to develop intelligent products and services for the distributed energy sector [34] - The company is enhancing supply chain efficiency by collaborating with top domestic and international suppliers to reduce procurement costs and cycles [34] - The company is building a financial service system around the distributed energy market, offering personalized financial solutions to support industry development [34] - The company has implemented a "made-to-order" production model, ensuring timely delivery by balancing production capacity according to sales contracts [35] - The company has achieved significant improvements in production efficiency through digital transformation and lean manufacturing practices, enhancing core manufacturing capabilities [35] - The company focuses on distributed energy system solutions, enhancing its core capabilities in equipment, engineering, operations, services, finance, and intelligence [43] Project Developments and Innovations - The company has signed contracts for significant projects, including an 11,000 tons/year battery-grade nickel cobalt project, marking a breakthrough in the hydrometallurgy sector [46] - The company is actively expanding its overseas market presence, establishing institutions in countries like Indonesia and leveraging the "Belt and Road" initiative [49] - The company has developed a customized energy interconnection island solution that has reached international leading standards, enhancing its market competitiveness [43] - The company has signed a 700,000 m³/day coal-to-natural gas liquefaction project, marking the first application of centrifugal compressor units in this field, providing valuable system solutions for cost reduction and energy saving [53] - The company secured a 700,000 tons/year high-end polyolefin project, which is the first polyethylene compressor that breaks foreign technology monopolies, significantly reducing costs for users [53] - The company signed multiple projects including a 850,000 tons/year hydrogenation unit and a 650,000 tons/year C2 recovery unit, marking its entry into the large-scale refining sector with high-end centrifugal compressors [53] - A 400,000 tons/year silicone project was signed, establishing a foundation for the company's expansion into the domestic silicone market, which has significant growth potential due to its wide applications [53] - The company signed a CO2 compression project for a 500,000 tons/year carbon reduction and resource utilization demonstration project, achieving a 100% utilization rate of captured CO2 [55] - The company developed a high-concentration NOx recovery unit for nickel-cobalt extraction, significantly reducing costs and environmental impact in the nickel-cobalt wet smelting process [55] - The company signed a project for a dual-drive sulfuric acid production unit, which can save approximately 87,500 tons of standard coal per year and reduce CO2 emissions by 21,800 tons annually [55] - The company made a breakthrough in the Indian market with a project for 30,000 air separation compressors, marking a significant entry into the Indian air separation market [55] - The company achieved its first export of a natural gas booster compressor in the Middle East, opening up the market for further expansion in the region [55] Technological Advancements - The company continues to focus on technological advancements to maintain its industry-leading position, ensuring sustainable growth and market competitiveness [56] - The company has launched 107 research projects under the 2022 Technology Advancement Plan, enhancing its core competitiveness significantly [59] - The successful trial of the 100,000 Nm³/h air separation compressor demonstrates the company's international leading technology, achieving energy savings of over 6 million kWh and reducing CO2 emissions by over 4,873 tons annually [60] - The company has developed a single-stage cantilever compressor, breaking foreign technology monopolies, and has successfully won bids for multiple units [61] - The world's largest single-line phthalic anhydride project has been successfully commissioned, improving energy efficiency by 4%-5% compared to traditional processes [61] - The company has optimized centrifugal compressor design software, enhancing product design efficiency and reducing delivery times [62] - A total of 49 new standards have been approved, including 19 national standards, enhancing the company's market influence [65] - The company has accumulated 339 patents, including 64 invention patents, strengthening its competitive edge in technology products [65] Environmental and Social Responsibility - The company is committed to achieving carbon neutrality goals, providing green transformation solutions for high-energy-consuming industries [40] - The company has received industry recognition for its "service-oriented manufacturing" model, promoting collaboration in energy services and innovation-driven platforms [52] - The company has established a wastewater treatment system with a design capacity of 300m³/d, which has been operating normally and meets discharge standards [121] - The company recovered 5,527 GJ of renewable energy, equivalent to saving 1.53 million kWh of electricity, resulting in a reduction of CO2 emissions by 97.51 tons during the first half of 2022 [131] - The company has implemented various environmental management measures, achieving compliance in waste disposal and emissions standards without any major environmental pollution incidents [130] - The company has established a comprehensive environmental emergency response system to effectively manage and mitigate environmental risks [124] - The company has obtained a pollution discharge permit, ensuring compliance with environmental regulations and timely public disclosure of environmental information [125] - The company has installed eight sets of air pollution control facilities to ensure that emissions from production processes meet regulatory standards [121] - The company has been actively monitoring various pollutants, conducting annual assessments to ensure compliance with environmental standards [126] - The company actively participated in poverty alleviation and rural revitalization efforts, helping local communities achieve comprehensive poverty alleviation by the end of 2020 [132] Financial Management and Investments - The company has established a mechanism for extreme weather early warning and prevention to ensure zero injuries and asset losses [82] - The company has been recognized multiple times for its contributions to advanced manufacturing and has received various awards, including the "2021 China New Economy Enterprises Top 500" [87] - The company is actively involved in rural revitalization efforts, assisting local communities in poverty alleviation and education initiatives [90] - The company has adjusted its financial management strategy to reduce wealth management products, leading to a decrease in investment income from these products [91] - The company is actively pursuing low-cost financing and new gas investment projects, resulting in increased borrowings [91] - The company has approved investment projects including a 70,000-ton LNG project and a coking gas utilization project [110] - The company has established a comprehensive risk management system for its financing sales projects, including risk identification and assessment measures [167] - The company has a total of 29,273 common stock shareholders as of the end of the reporting period [180] - The company has a long-term commitment from Shaanxi Guofeng Group to avoid engaging in competitive businesses since November 16, 2007 [135] - The company has a long-term commitment from China Standard Industrial Group to prevent competition since November 26, 2007 [135] Shareholder and Corporate Governance - The company has made changes in its board of directors, electing Liu Jinping as a new director [115] - The company did not propose any profit distribution or capital reserve fund transfer for the half-year period [116] - As of March 23, 2022, the company completed the cancellation of 147,360 restricted stock units as part of its equity incentive plan [116] - The top shareholder, Shaanxi Blow Fan (Group) Co., Ltd., holds 976,653,706 shares, representing 56.56% of the total shares [180] - The total number of unrestricted circulating shares held by Shaanxi Blower (Group) Co., Ltd. is 976,653,706 shares [186] - The total number of unrestricted circulating shares held by Xi'an Industrial Investment Group Co., Ltd. is 86,652,817 shares [186] - The total number of unrestricted circulating shares held by Industrial Bank Co., Ltd. - Xinguang Trend Investment Mixed Securities Investment Fund is 27,265,761 shares [186] - The total number of unrestricted circulating shares held by China Everbright Bank Co., Ltd. - Xinguang Business Model Preferred Mixed Securities Investment Fund (LOF) is 25,752,123 shares [186] - The total number of unrestricted circulating shares held by China Merchants Bank Co., Ltd. - Xinguang Light Asset Investment Mixed Securities Investment Fund (LOF) is 18,820,603 shares [186] - The total number of unrestricted circulating shares held by Li Taijie is 18,540,000 shares [186] - The total number of unrestricted circulating shares held by Chai Changmao is 18,023,169 shares [186] - The total number of unrestricted circulating shares held by Industrial Bank Co., Ltd. - Xinguang New Vision Flexible Allocation Periodic Open Mixed Initiated Securities Investment Fund is 17,459,118 shares [186] - The total number of unrestricted circulating shares held by Huatai-PineBridge Fund Management Co., Ltd. - Social Security Fund 1103 Portfolio is 9,847,500 shares [186] - The report indicates that there are 11 shareholders with restricted shares, with the largest being Chen Dangmin holding 597,800 shares [188]