OXGF(SZ:300082)2022-08-22 16:00Financial Performance - The company's operating revenue for the first half of 2022 was ¥2,918,733,978.94, a decrease of 6.35% compared to ¥3,116,538,221.72 in the same period last year[20]. - The net profit attributable to shareholders was ¥47,772,219.73, down 42.76% from ¥83,465,458.98 year-on-year[20]. - The net profit after deducting non-recurring gains and losses was ¥35,377,898.72, reflecting a decline of 49.27% compared to ¥69,739,978.21 in the previous year[20]. - The net cash flow from operating activities was ¥43,252,569.17, a significant drop of 76.31% from ¥182,606,860.56 in the same period last year[20]. - Basic earnings per share decreased to ¥0.07, down 41.67% from ¥0.12 in the previous year[20]. - Total assets at the end of the reporting period were ¥6,588,170,583.77, a decrease of 2.59% from ¥6,763,326,789.61 at the end of the previous year[20]. - The net assets attributable to shareholders decreased by 4.74% to ¥3,285,951,823.60 from ¥3,449,480,545.49 at the end of the previous year[20]. - The weighted average return on net assets was 1.42%, down 1.18 percentage points from 2.60% in the previous year[20]. - The company's revenue for the reporting period was approximately ¥2.92 billion, a decrease of 6.35% compared to ¥3.12 billion in the same period last year[44]. - The company's operating costs were approximately ¥2.73 billion, down 5.99% from ¥2.90 billion year-on-year[44]. Investment and R&D - Research and development investment amounted to approximately ¥88.07 million, a decrease of 9.23% compared to ¥97.02 million in the previous year[44]. - The company holds 111 authorized invention patents and 140 utility model patents, with 34 new patents granted in the first half of 2022[39]. - The company is focusing on technological innovation and strategic partnerships to enhance its product offerings and market position[80]. - New product development efforts are focused on enhancing chemical production efficiency, with an investment of 14.9 million planned for R&D in 2022[140]. Market and Sales - The company has a production capacity of 300,000 tons of ethylene oxide and a strategic layout of 1.6 million tons of ethoxylation capacity across various regions[28]. - The company is a leading producer of polycarboxylate superplasticizers and has established a complete industrial chain from ethylene to ethylene oxide and its derivatives[28]. - The company expects continuous growth in the sales scale of electrolyte solvents, driven by the rapid development of lithium-ion batteries in electric vehicles[30]. - In the first half of 2022, the sales volume of polycarboxylate superplasticizer decreased by 6.97% year-on-year, and the gross margin declined by 3.51%[33]. - The sales volume of pharmaceutical polyethylene glycol excipients increased by 50.37% year-on-year during the reporting period[35]. Financial Position and Cash Flow - The company's cash and cash equivalents increased to ¥629,712,902.22, representing 9.56% of total assets, up from 9.14% at the end of the previous year[51]. - Inventory rose significantly to ¥595,955,554.93, which is 9.05% of total assets, reflecting an increase in finished goods[51]. - The gross margin for polyethylene glycol was 21.63%, with revenue of ¥193,561,314.04, reflecting a year-on-year increase of 53.34%[47]. - The company reported a significant increase in sales expenses by 48.67% due to increased inventory and storage costs[44]. - The net cash flow from operating activities decreased by 76.31% to approximately ¥43.25 million, primarily due to increased inventory levels[44]. Environmental and Regulatory Compliance - The company is classified as a key pollutant discharge unit by environmental protection authorities[93]. - The company reported a total COD discharge of 3.32 tons for the period, with no exceedance of discharge standards[93]. - The company has established various environmental protection facilities, including wastewater collection pools and online monitoring systems, which are all operating normally[98]. - The company has implemented a comprehensive environmental monitoring plan to manage potential pollution risks[100]. - The company’s wastewater treatment facilities across subsidiaries are functioning effectively, ensuring compliance with environmental standards[98]. Strategic Partnerships and Expansion - The company has established international platforms in Indonesia and Singapore to support its international development strategy[29]. - The company has established a strategic partnership with major clients such as Lvyang, Dongfang Yuhong, and Sika, enhancing its market competitiveness[40]. - The company is exploring market expansion opportunities in Southeast Asia, targeting a 15% market share by the end of 2023[140]. - The company is actively pursuing talent planning in line with its business strategy to enhance operational efficiency and competitiveness[38]. Legal and Compliance Issues - The company is currently involved in a contract dispute with a claim amount of CNY 2,734 million, which is still in the execution process[123]. - The company has reported a significant litigation case involving a performance commitment compensation and equity impairment compensation amounting to CNY 17,574.52 million[123]. - The average burden of the company in the ongoing litigation is expected to be significant, with multiple claims in process[124]. - The company has strengthened its collection efforts for accounts receivable and overdue payments during the reporting period[123]. Corporate Governance - The company did not distribute cash dividends or issue bonus shares for the half-year period[89]. - The company held its annual general meeting on May 20, 2022, with a participation rate of 57.80%[87]. - The company has no stock incentive plans or employee stock ownership plans in place during the reporting period[90]. - The company has committed to avoiding any substantial competition with its controlled subsidiaries and affiliates, ensuring no direct or indirect engagement in competing activities[116].