SCAC(SH:900908)2021-08-25 16:00Financial Performance - The company's operating revenue for the first half of 2021 reached ¥2,996,222,100.76, representing a 39.43% increase compared to ¥2,148,871,906.59 in the same period last year[19]. - Net profit attributable to shareholders of the listed company was ¥666,126,325.37, a significant increase of 354.69% from ¥146,502,277.40 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was ¥667,743,631.51, reflecting a 354.94% increase compared to ¥146,775,579.47 in the same period last year[19]. - The net cash flow from operating activities was ¥236,068,327.96, up 29.04% from ¥182,935,443.37 in the previous year[19]. - Basic earnings per share increased by 354.62% to CNY 0.5760 compared to CNY 0.1267 in the same period last year[20]. - The weighted average return on equity rose to 12.1693%, up 9.07 percentage points from 3.0995% year-on-year[20]. - Operating profit for the first half of 2021 was ¥756,398,519.63, significantly up from ¥167,061,154.71 in the first half of 2020, representing a growth of 353.5%[108]. - Net profit for the first half of 2021 was ¥664,677,820.87, compared to ¥145,865,565.14 in the same period of 2020, marking an increase of 354.5%[108]. Revenue and Market Conditions - The company's revenue and net profit significantly increased due to effective control of the COVID-19 pandemic and the continuous recovery of the domestic economy[20]. - The average operating load rate of domestic chlor-alkali enterprises increased to 79.41%, up 2.86 percentage points from 76.55% in the same period last year[25]. - The cumulative production of caustic soda reached 19.26 million tons, representing a year-on-year growth of 10.8%[25]. - The domestic PVC market remained active, with prices supported by global supply shortages and domestic inventory declines[26]. - The company is actively monitoring market trends and adjusting sales strategies to maximize profitability[31]. Investments and Projects - The company is advancing the Qinchuan caustic soda and PVC project, with design, procurement, and construction progressing smoothly[31]. - The 200,000 tons/year VCM project has completed mid-term handover work and is set to commence trial production by the end of August 2021[31]. - The company has invested ¥51,674 million in a 200,000 tons/year PVC project, which is expected to commence operations by the end of August 2021[43]. - The special resin upgrade project has been successfully completed with an investment of ¥17,252 million, producing qualified products as of July 28, 2021[43]. - The company has a total of 8.44553 billion RMB in related party debts, with a net change of -526.03 million RMB during the reporting period[75]. Financial Position - Total assets grew to ¥7,437,952,681.05, marking a 19.68% increase from ¥6,214,957,737.22 at the end of the previous year[19]. - Cash and cash equivalents at the end of the period amounted to ¥2,541,706,482.32, representing 34.17% of total assets, an increase of 14.44% compared to the previous year[36]. - Total liabilities amounted to ¥1,554,095,582.85, up from ¥939,319,363.98, marking an increase of approximately 65.3%[101]. - Shareholders' equity increased to ¥5,883,857,098.20 from ¥5,275,638,373.24, representing a growth of about 11.5%[101]. - The company reported a significant increase in short-term borrowings, totaling ¥505,103,761.81, which is 32.50% of total liabilities, attributed to increased project financing[36]. Research and Development - Research and development expenses rose by 36.37% to ¥55,339,728.28, reflecting a higher investment in R&D compared to ¥40,579,417.29 in the previous year[34]. - The company is focusing on high-end product development through technology innovation, particularly in chlorine consumption and hydrochloric acid, specialty resins, and polyether polyols[31]. Environmental and Safety Measures - The company has implemented strict safety and environmental measures, achieving good results in HSE target indicators for the first half of 2021[30]. - The company has implemented various pollution control measures, including waste gas treatment facilities and wastewater treatment systems, to comply with environmental regulations[57]. - The company has established an emergency response plan for environmental incidents, completed in 2020[59]. - The company is actively participating in the Ministry of Industry and Information Technology's evaluations for green factories and green design products[61]. Shareholder Information - Total number of common shareholders as of the end of the reporting period is 76,407[88]. - The largest shareholder, Shanghai Huayi (Group) Company, holds 538,805,647 shares, representing 46.59% of total shares[90]. - The second largest shareholder, Vanguard Emerging Markets Stock Index Fund, increased its holdings by 195,200 shares to a total of 7,634,490 shares, accounting for 0.66%[90]. Accounting Policies and Compliance - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring a true and complete reflection of the company's financial status as of June 30, 2021[139]. - The company confirms that there are no significant doubts regarding its ability to continue as a going concern for the next 12 months from the reporting date[137]. - The company has not reported any changes in accounting policies or prior period error corrections during the current period[129].