DHE(002221)2022-08-23 16:00Financial Performance - The company's operating revenue for the first half of 2022 was ¥15,192,142,967.47, representing a 6.54% increase compared to ¥14,259,120,307.14 in the same period last year[11]. - Net profit attributable to shareholders of the listed company decreased by 80.60% to ¥145,904,855.12 from ¥752,230,302.27 year-on-year[11]. - The net profit after deducting non-recurring gains and losses was ¥94,919,843.47, down 86.53% from ¥704,453,475.29 in the previous year[11]. - The net cash flow from operating activities was ¥237,456,397.51, a decline of 55.78% compared to ¥536,970,180.50 in the same period last year[11]. - Basic and diluted earnings per share were both ¥0.0926, down 80.60% from ¥0.4773 in the previous year[11]. - The total assets at the end of the reporting period were ¥36,956,775,960.67, an increase of 2.81% from ¥35,947,388,107.11 at the end of the previous year[11]. - The net assets attributable to shareholders of the listed company decreased by 1.50% to ¥10,679,439,002.17 from ¥10,842,000,106.94 at the end of the previous year[11]. - The weighted average return on net assets was 1.34%, down from 7.09% in the previous year[11]. - The gross profit margin decreased by 5.42% to 4.53% compared to the same period last year[25]. - The investment income amounted to ¥5,591,305.66, contributing 2.97% to the total profit[26]. Revenue and Sales - The hydrogen sales reached approximately 12,200 tons, generating revenue of about CNY 166 million, representing a 102% increase year-on-year[19]. - The company reported a significant increase in polypropylene revenue, reaching approximately CNY 6.92 billion, up 84.79% from CNY 3.74 billion in the previous year[24]. - The revenue from polypropylene was ¥6,916,331,245.69, with a significant year-on-year increase of 84.79%[25]. - The revenue from the East China region (excluding Jiangsu) increased by 110.70% year-on-year[25]. Investments and R&D - The company invested approximately CNY 42.58 million in R&D, an increase of 14.72% compared to CNY 37.11 million in the previous year[22]. - The company invested ¥1,943,845,577.23 during the reporting period, a 102.75% increase compared to the previous year[32]. - The company invested CNY 1.195 billion in significant non-equity projects during the reporting period, with a cumulative investment of CNY 3.171 billion, achieving an 80% project progress for the Ningbo underground gas storage project[35]. Cash Flow and Liquidity - Cash and cash equivalents at the end of the period were CNY 6,956,528,000.63, compared to CNY 5,793,017,821.15 at the end of the previous year[109]. - The ending cash and cash equivalents balance for the first half of 2022 was ¥1.65 billion, up from ¥712.28 million at the end of the first half of 2021, marking an increase of approximately 132%[111]. - The net cash flow from financing activities was -¥396.98 million in the first half of 2022, compared to -¥950.71 million in the same period of 2021, indicating an improvement[111]. Environmental and Social Responsibility - The company is classified as a key pollutant discharge unit, with specific emissions monitored and reported[53]. - The total emissions for COD were reported at 28.956 tons, with no exceedance of discharge standards[53]. - The company actively fulfills its social responsibilities, focusing on environmental protection and energy conservation[56]. - The company emphasizes environmental protection, having implemented an environmental management system certified by ISO14001, and has established control measures and standards for environmental protection[57]. Corporate Governance and Management - The company plans not to distribute cash dividends or issue bonus shares[2]. - There were changes in management, with two executives resigning in early 2022 due to personal reasons[50]. - The company maintains a strong commitment to protecting the rights of minority investors, ensuring transparency and fairness in shareholder meetings and decision-making processes[60]. - The company held three shareholder meetings in 2022, with participation rates of 40.48%, 36.95%, and 7.64% respectively[49]. Financial Position and Liabilities - The asset-liability ratio increased to 66.43%, up by 1.33% from the previous year[97]. - Total liabilities reached CNY 24,550,480,786.65, up from CNY 23,401,259,815.20, marking an increase of around 4.9%[101]. - The total liabilities at the end of the period were 3,988,774,422.55 yuan, showing a manageable debt level[117]. Related Party Transactions - The company reported a total of 506,452.8 thousand yuan in related party transactions during the reporting period, with significant contributions from various subsidiaries[66]. - The actual performance of related party transactions during the reporting period was 111,013.3 thousand yuan, with a significant portion attributed to sales and service agreements[67]. Strategic Initiatives - The company plans to introduce strategic investors to develop a zero-carbon industrial park in Maoming, focusing on high polymer materials and hydrogen energy industries[15]. - The company aims to enhance its integrated operations and expand its hydrogen energy ecosystem, leveraging partnerships with various enterprises[20]. - The company is focusing on expanding its market presence through acquisitions and strategic partnerships[82]. Accounting and Financial Reporting - The financial statements are prepared in accordance with the enterprise accounting standards, reflecting the company's financial position and operating results accurately[139]. - The company adopts the equity method for accounting treatment in mergers under common control, measuring assets and liabilities at the book value in the consolidated financial statements of the ultimate controlling party[143]. - The company recognizes goodwill when the merger cost exceeds the fair value of identifiable net assets acquired[145].