XZCE(SZ:002534)2021-08-30 16:00Financial Performance - The company's operating revenue for the first half of 2021 was ¥2,789,761,012.49, representing a 17.55% increase compared to ¥2,373,192,687.30 in the same period last year[29]. - The net profit attributable to shareholders of the listed company was ¥254,352,812.25, a slight increase of 1.29% from ¥251,107,528.47 in the previous year[29]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥225,732,327.47, which is an 8.99% increase from ¥207,114,521.31 in the same period last year[29]. - The net cash flow from operating activities decreased by 53.38% to ¥183,866,623.67, down from ¥394,429,159.84 in the previous year[29]. - Total assets at the end of the reporting period were ¥10,978,422,509.23, reflecting a 5.47% increase from ¥10,409,269,681.16 at the end of the previous year[29]. - The net assets attributable to shareholders of the listed company were ¥3,350,701,824.19, showing a decrease of 0.97% from ¥3,383,512,272.85 at the end of the previous year[29]. - The basic earnings per share remained stable at ¥0.34, unchanged from the previous year[29]. - The diluted earnings per share also remained at ¥0.34, consistent with the previous year[29]. - The weighted average return on net assets was 7.45%, slightly down from 7.52% in the previous year[29]. Revenue Sources and Growth - The company achieved operating revenue of 2.78976 billion yuan, an increase of 17.55% compared to the same period last year[49]. - The net profit attributable to the parent company was 254.35 million yuan, a growth of 1.29% year-on-year[49]. - The company secured new orders totaling 5.7 billion yuan, representing an increase of 85.4% compared to the previous year[49]. - The order backlog as of June 30, 2021, stood at 7.79 billion yuan[49]. - The boiler and prime mover manufacturing sector contributed ¥2,742,094,239.59, accounting for 98.29% of total revenue, with a year-on-year growth of 17.33%[71]. - The sales of spare parts and services surged by 101.38% year-on-year, generating ¥239,301,746.01, which is 8.58% of total revenue[71]. - Domestic sales amounted to ¥2,425,036,085.41, making up 86.93% of total revenue, with a year-on-year increase of 13.06%[71]. Research and Development - Research and development investment rose to approximately ¥141.40 million, marking a 12.46% increase from ¥125.74 million in the previous year[68]. - The company is focusing on the development of energy-saving and environmental protection solutions, enhancing its service offerings beyond product sales[51]. - The company is actively involved in the research and development of new heat recovery boiler products in collaboration with clients[50]. - The company has developed a 50MW molten salt energy storage system, achieving the highest average power generation rate among similar projects globally[41]. - The company has developed a high-temperature, high-pressure biomass power generation boiler, significantly improving the efficiency and economic benefits of domestic power plants[59]. Environmental and Regulatory Compliance - The company has been recognized as a key pollutant discharge unit and adheres to strict environmental regulations, with no significant environmental violations reported[116]. - The company has implemented effective pollution control measures, including a dust removal system and desulfurization technology, ensuring emissions meet regulatory standards[119]. - The company has established an emergency response plan for environmental incidents, which has been reviewed and approved by experts[122]. - The company has implemented an environmental monitoring plan, tracking pollutants such as wastewater and air emissions monthly[123]. - The environmental data from the Lehao Power Plant is synchronized with national and provincial environmental control platforms for real-time monitoring[124]. - There were no administrative penalties related to environmental issues during the reporting period[125]. Financial Management and Investments - The company has engaged in entrusted financial management, with a total amount of 109,712.96 million CNY, including 88,712.96 million CNY in bank financial products[157]. - The company reported a total investment of 10,000 million CNY in various financial products, with expected annualized returns ranging from 3.30% to 8.00%[161]. - The company has a total of 4,000 million CNY in trust products that are currently under litigation due to non-repayment issues, with a full impairment provision made for the unrecovered principal[165]. - The expected annualized return for the Sichuan Trust product was 7.60%, but the company has only received 1,000 million CNY of the 5,000 million CNY principal as of June 2021[165]. - The company has established a diversified portfolio of financial products to enhance returns and manage liquidity[161]. - The company is closely monitoring the regulatory environment surrounding its financial investments, particularly in light of the Sichuan Trust's management issues[165]. Shareholder Information - The total number of shares is 739,201,050, with 99.68% being unrestricted shares[177]. - The chairman, Wang Shuifu, increased his shareholding by 14,884,073 shares during the reporting period[177]. - The company has 13,555,345 restricted shares held by executives, with 11,163,055 shares newly added due to executive lock-up[180]. - The total number of common shareholders at the end of the reporting period was 15,554[183]. - The largest shareholder, Xizi Elevator Group Co., Ltd., holds 39.01% of shares, totaling 288,349,956 shares[183]. - The second-largest shareholder, Jinrun (Hong Kong) Co., Ltd., holds 21.89% of shares, totaling 161,784,000 shares[183]. - The third-largest shareholder, Hangzhou Industrial Investment Group Co., Ltd., holds 13.59% of shares, totaling 100,476,000 shares[183]. - The company did not engage in any agreed repurchase transactions during the reporting period[188]. Risks and Challenges - The company faces risks from raw material price fluctuations, particularly steel, and plans to implement measures such as pre-ordering and futures hedging to stabilize procurement costs[102]. - There is a risk of bad debts from accounts receivable, prompting the company to enhance its risk management and internal controls[105]. - The company anticipates increased market competition due to expanded capacity in the boiler industry and plans to invest more in R&D to maintain its leading position[106].