TSC(SZ:000877)2023-08-23 16:00Financial Performance - The company's operating revenue for the first half of 2023 was ¥53,443,149,245.54, a decrease of 18.36% compared to the same period last year[14]. - The net profit attributable to shareholders was ¥141,747,878.89, representing a significant decline of 95.94% year-on-year[14]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥409,662,452.71, a decrease of 113.83% compared to the previous year[14]. - The basic earnings per share were ¥0.0164, down 95.93% from ¥0.4021 in the same period last year[14]. - The diluted earnings per share were also ¥0.0164, showing a similar decline of 95.93%[14]. - The weighted average return on equity was 0.17%, down from 4.33% in the previous year[14]. - The company plans not to distribute cash dividends or issue bonus shares[2]. - The company's revenue for the first half of 2023 was 53.443 billion yuan, a year-on-year decrease of 18.36%[24]. - The net profit attributable to shareholders for the first half of 2023 was 142 million yuan, a year-on-year decrease of 95.94%[24]. - Operating costs decreased by 15.01% to ¥45.38 billion from ¥53.39 billion year-on-year[34]. - The company reported a significant decrease in investment income, down 60.21% to ¥175.39 million, due to lower profits from joint ventures[34]. - The company reported a total of ¥10.06 billion in restricted assets, primarily due to pledges for financing and mortgages[40]. Cash Flow and Assets - The net cash flow from operating activities increased by 61.44% to ¥8,610,510,795.59[14]. - The total assets at the end of the reporting period were ¥296,222,684,607.91, reflecting a 2.56% increase from the end of the previous year[14]. - The net assets attributable to shareholders decreased by 2.54% to ¥79,733,201,692.80[14]. - The net increase in cash and cash equivalents was ¥5.68 billion, reflecting a 47.72% increase from ¥3.84 billion in the prior year[34]. - The company's cash and cash equivalents increased to ¥15.94 billion, representing 5.38% of total assets, up from 3.72% last year, a growth of 1.66%[37]. - Accounts receivable rose to ¥32.84 billion, accounting for 11.09% of total assets, compared to 10.97% last year, an increase of 0.12%[37]. Production and Market Conditions - The company sold 10.692 million tons of cement in the first half of 2023, a year-on-year decrease of 3.01%[24]. - The company's clinker production capacity is 320 million tons, ready-mixed concrete capacity is 39 million cubic meters, and aggregate capacity is 23 million tons[17]. - The national cement production in the first half of 2023 was 953 million tons, a year-on-year increase of 1.3%, but overall demand remains weak due to a significant decline in real estate investment[16]. - The overall cement market in China is characterized by weak demand, high inventory, and declining profitability, with the first half of 2023 showing the lowest production levels since 2012[16]. - The ready-mixed concrete industry faced significant pressure in the first half of 2023, with a year-on-year production decline of 2.4%[17]. - The aggregate consumption demand in China decreased by 2.4% in the first half of 2023, reflecting the overall market challenges[17]. - The company achieved a 25.53% year-on-year increase in aggregate sales, reaching 6.342 million tons[24]. Environmental Initiatives - The company is focusing on green and intelligent development in response to national policies on energy consumption and carbon emissions[17]. - The company is committed to a low-carbon transition and integrated development of its "cement+" business model[20]. - The company is actively promoting digital transformation and has implemented intelligent manufacturing across its operations[30]. - The company is focusing on technological innovation and operational optimization to reduce costs and improve efficiency, including the development of its e-commerce platform "Jucaitong" for building materials[51]. - The company has implemented a strategy to exit excess production capacity quickly in response to the "dual carbon" policy, aiming to create new growth points through "Cement+" business initiatives[51]. - The company is committed to enhancing its ecological environment protection efforts and increasing investment in this area[54]. - The company is actively monitoring macroeconomic trends and adjusting its strategies to align with changes in fixed asset investment and urbanization processes[51]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its operational footprint[64]. - The company is focusing on research and development of new technologies to further reduce emissions and improve operational efficiency[66]. - The company achieved a reduction of approximately 764,000 tons of CO2 emissions through raw material substitution and 114,000 tons through fuel substitution in the reporting period[94]. - The company has 44 national-level green factories and 38 national-level green mines[94]. Corporate Governance and Compliance - The company has experienced changes in its board and management, with several key personnel transitions in March and August 2023[57]. - The company has maintained compliance with court judgments and has no significant overdue debts during the reporting period[110]. - The company has not engaged in any asset or equity acquisitions or sales during the reporting period[113]. - The company has a related party debt of RMB 12.21 million to China National Building Material Group, with an interest rate of 2.92%[115]. - The company has a related party debt of RMB 2.7 billion to its controlling shareholder, with an interest rate of 2.67%[115]. - The company has not disclosed any significant non-standard audit reports for the previous year[107]. - The company plans to reappoint Dahua Certified Public Accountants for the 2023 financial report audit, with fees not exceeding RMB 7.65 million for the audit and RMB 1.1 million for internal control audit[107]. Community Engagement and Social Responsibility - The company conducted various public welfare activities, with total donations amounting to approximately 36.59 million CNY in the first half of 2023[102]. - The company has established 115 volunteer organizations, with around 6,462 volunteers participating in activities totaling 1,866 hours[102]. - The company has actively participated in poverty alleviation and rural revitalization efforts, including organizing volunteer services and supporting local agricultural development[103]. - The company plans to enhance its political stance and continue consolidating poverty alleviation achievements in the second half of 2023[104].