西部建设(002302) - 2021 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2021 was ¥12,374,435,816.68, representing a 28.86% increase compared to ¥9,603,122,133.83 in the same period last year[26]. - The net profit attributable to shareholders of the listed company was ¥363,678,676.80, up 23.04% from ¥295,576,333.19 in the previous year[26]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥338,869,464.48, reflecting a 19.92% increase from ¥282,586,152.75[26]. - The basic earnings per share for the reporting period was ¥0.2881, an increase of 23.07% compared to ¥0.2341 in the previous year[26]. - The total revenue for the reporting period reached ¥12,352,489,464.58, representing a year-on-year increase of 28.82%[52]. - The sales revenue from ready-mixed concrete amounted to ¥12,140,324,334.64, accounting for 98.11% of total operating revenue, with a year-on-year growth of 29.96%[46]. - The company reported a significant increase in revenue, with a total of 1,577.48 million CNY from construction services, accounting for 0.14% of similar transaction amounts[106]. Assets and Liabilities - The total assets at the end of the reporting period were ¥27,877,152,901.40, a 16.97% increase from ¥23,833,615,558.88 at the end of the previous year[26]. - The net assets attributable to shareholders of the listed company were ¥8,080,525,080.47, up 3.22% from ¥7,828,780,424.17[26]. - The company's cash and cash equivalents decreased to ¥2,727,143,443.42, accounting for 9.78% of total assets, down from 21.14% the previous year[54]. - Accounts receivable increased to ¥17,678,811,204.84, representing 63.42% of total assets, up from 42.20% the previous year[54]. - Inventory increased to 449,639,425.94, up 1.61% from 319,304,727.16, attributed to growth in raw material stock[57]. - Fixed assets decreased to 1,996,294,482.74, down 7.16% from 2,073,271,153.04, reflecting a decline in asset value[57]. - The company's current ratio is 140.21%, down from 149.24% at the end of the previous year, a decrease of 9.03%[191]. - The debt-to-asset ratio increased to 63.06% from 57.81%, an increase of 5.25%[191]. Cash Flow - The net cash flow from operating activities was -¥2,035,348,263.61, a decrease of 37.26% compared to -¥1,482,825,116.98 in the same period last year[26]. - The cash interest coverage ratio is -308.17, a significant decrease from -106.01 in the previous year, reflecting a decline of 190.70%[191]. Investments and Expenditures - The company reported a total investment during the reporting period of 121,710,000.00, a 112.33% increase from 57,320,400.00 in the previous year[65]. - The company paid a total of ¥1,187,016,946.42 for equipment, land, and site leasing fees from January to June 2021[135]. - The company has significant guarantees in place, with a total guarantee amount of ¥30,000,000.00 for various subsidiaries[139]. Operational Highlights - The company launched 12 new technology projects during the reporting period, with high-value-added products accounting for 16.9% of total production[39]. - The company achieved a comprehensive completion rate of 62% for its key reform tasks, surpassing its annual target ahead of schedule[39]. - The company expanded its production capacity in key markets such as the Yangtze River Economic Belt and the Guangdong-Hong Kong-Macao Greater Bay Area[39]. - The company emphasized safety and quality management, with no major safety incidents reported during the period[39]. Environmental and Social Responsibility - The company has obtained the pollution discharge permit, which is valid until December 31, 2025, for its cement manufacturing operations[84]. - Nitrogen oxides emissions from the cement plant are 39.78 tons per half year, with a concentration of 179 mg/m³, complying with the air pollutant discharge standards[84]. - The company invested 17 million yuan in environmental protection expenses during the reporting period[90]. - The company has implemented measures to support rural revitalization, including sending 7 cadres to assist in agricultural production in Xinjiang[94]. Risks and Challenges - The company faces macroeconomic risks due to its reliance on the prefabricated concrete industry, which is closely tied to fixed asset investment and urbanization processes, potentially affecting performance[74]. - The company is actively managing accounts receivable risks, aiming to improve operational cash flow and reduce accounts receivable and debt levels[74]. - The company is expanding its overseas business despite facing risks related to political and economic differences, as well as ongoing pandemic challenges[74]. Corporate Governance - The company held three shareholder meetings during the reporting period, with investor participation rates around 46%[78]. - The company has not implemented any employee stock ownership plans or other incentive measures during the reporting period[80]. - The total number of ordinary shareholders at the end of the reporting period was 67,441, with the largest shareholder being China Construction Xinjiang Group Co., Ltd. holding 31.43%[166].