SEWPG(SH:688660)2021-08-23 16:00Financial Performance - The company reported a total revenue of 1.2 billion RMB for the first half of 2021, representing a year-on-year increase of 15%[17]. - The company's operating revenue for the first half of the year reached ¥12,253,341,802.83, representing a 117.34% increase compared to the same period last year[25]. - Net profit attributable to shareholders was ¥351,476,330.36, a significant increase of 236.11% year-on-year[25]. - The net profit after deducting non-recurring gains and losses was ¥312,937,573.64, reflecting a 464.75% increase compared to the previous year[25]. - The gross profit margin for the first half of 2021 was reported at 30%, a slight decrease from 32% in the same period last year[17]. - The company aims to achieve a net profit of 300 million RMB for the full year 2021, with a growth target of 20%[17]. - Basic earnings per share rose to ¥0.40, up 207.69% from ¥0.13 in the same period last year[26]. - The company's total assets increased by 10.66% to ¥35,153,899,590.83 compared to the end of the previous year[25]. - The net assets attributable to shareholders increased to 747,199.61 million yuan, a rise of 72.78% from the previous period[79]. - The company achieved a total revenue of 197,378.24万元, with a significant focus on developing high-capacity offshore wind turbines[67]. Research and Development - The company has allocated 200 million RMB for research and development in renewable energy technologies for the upcoming fiscal year[17]. - The research and development expenditure accounted for 2.73% of operating revenue, an increase of 0.38 percentage points year-on-year[29]. - The company achieved a 152.69% increase in R&D expenses compared to the previous year, totaling approximately ¥334.11 million, which represents 2.73% of operating revenue[54][55]. - The company has filed for 216 new patents during the reporting period, with 68 granted, including 91 invention patents and 35 utility model patents[53]. - The company actively focuses on digitalization and intelligence strategies to enhance its core competitiveness in the wind power industry[42]. - The company is developing a 4.X MW level turbine tailored for large wind power base projects, utilizing modular design for improved reliability[62]. - The company is focusing on the development of a 2.5MW platform optimized for onshore low-wind-speed areas, with a leading wind capture capability compared to similar products[62]. - The company completed the technical verification of the 5.X product for onshore wind turbines, targeting the mid-high wind speed market with a single unit capacity exceeding 5MW, achieving domestic leading levels in technology and cost[13]. - The company has developed a new load simulation software toolchain, enhancing load calculation capabilities and simulation accuracy[49]. - The company is enhancing the optimization design technology for the entire lifecycle of wind turbines, laying the foundation for digital transformation[60]. Market Strategy and Expansion - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share by 2023[17]. - The company is exploring new development directions in response to carbon neutrality policies, aiming to expand into the renewable energy sector beyond wind power[83]. - The company aims to provide competitive, reliable, and cost-effective offshore large megawatt wind turbines for the deep-sea market[19]. - The company has an order backlog of 6.15 GW, including 3.69 GW onshore and 2.45 GW offshore[81]. - The company has established seven R&D centers and eleven production bases, becoming a leading manufacturer and service provider in the domestic wind power industry[69]. Risk Management - The company emphasizes the importance of risk management in its operations, detailing various potential risks in the management discussion section[5]. - The company faces risks from policy changes and market competition, particularly with the anticipated withdrawal of subsidies in 2022[85][87]. - The company is actively managing supply chain risks due to rising raw material prices, which have increased by over 40% since 2020[88]. Environmental and Social Responsibility - The company joined the Carbon Neutrality Action Alliance as a founding member on June 23, 2021, aiming to promote carbon neutrality goals[133]. - The company established a comprehensive energy demonstration zone in Guangdong, achieving carbon neutrality in its operations through a combination of 2.4MW rooftop solar, 4MW and 8MW wind turbines, and 2MWh lithium iron phosphate energy storage[137]. - The company purchased 3,000 poverty alleviation products worth a total of 780,000 yuan to support impoverished areas in Yunnan and Xinjiang[138]. - The company plans to continue its targeted poverty alleviation efforts in Yunnan, focusing on education, industry, and community support[138]. - The company has established various emergency response plans for environmental pollution incidents and has passed ISO14001:2015 environmental management system certification[129]. - The company strictly adheres to national laws and regulations regarding environmental pollution and has implemented measures to control noise, waste gas, and wastewater emissions[130]. Corporate Governance and Compliance - The company has no non-operational fund occupation by controlling shareholders or related parties[8]. - The board of directors has approved a profit distribution plan, which is not applicable for this reporting period[7]. - The company does not plan to distribute profits or increase capital reserves for the current period[125]. - The company will implement an active profit distribution policy to maximize shareholder returns, adhering to the profit distribution plan approved by the shareholders' meeting for the first three years post-IPO[152]. - The company has committed to not reducing its shareholdings in the event of significant legal violations that could lead to delisting, until the stock is delisted[151]. - The company will publicly disclose any violations of its commitments regarding shareholding reductions and apologize to shareholders and the public[151]. - The company has established a mechanism to ensure that any illegal gains from share reductions will be returned to the company[151]. Litigation and Related Party Transactions - The company is involved in significant litigation, with a total amount of 335,120,000.00 RMB related to a lawsuit with Wuhan Wuchuan Heavy Equipment Engineering Co., Ltd.[184]. - The company has been ordered to pay a total of 11,574,945.26 RMB in damages and additional rental fees as per the final judgment from the Supreme People's Court[185]. - The total amount of related party transactions reached 149,956.44 million, with significant contributions from purchasing goods and services[195]. - All related party transactions were approved at the 2020 annual general meeting held on April 21, 2021[198].