Financial Performance - The company's operating revenue for the first half of 2024 reached CNY 11.66 billion, an increase of 18.96% compared to CNY 9.80 billion in the same period last year[15]. - The net profit attributable to shareholders decreased by 0.71% to CNY 1.51 billion from CNY 1.52 billion year-on-year[15]. - The net cash flow from operating activities increased significantly by 72.52%, amounting to CNY 902.33 million compared to CNY 523.02 million in the previous year[15]. - The company’s total assets grew by 3.92% to CNY 41.75 billion from CNY 40.17 billion at the end of the previous year[15]. - The basic earnings per share for the first half of 2024 was CNY 0.1794, a decrease of 0.72% from CNY 0.1807 in the same period last year[16]. - The company achieved a revenue of 11.658 billion yuan, an increase of 18.96% year-on-year[47]. - The net profit attributable to shareholders was 1.514 billion yuan, a decrease of 0.71% year-on-year, while the net profit excluding non-recurring items was 1.560 billion yuan, an increase of 3.49% year-on-year[47]. - The total comprehensive income for the first half of 2024 is CNY 1.58 billion, down from CNY 1.80 billion in the same period of 2023, a decline of 12.29%[142]. Production and Capacity Expansion - The company plans to expand its production capacity with projects including a 300 million tons/year coking project and a 55 million tons/year methanol comprehensive utilization project[8]. - The company is developing a green biodegradable plastic project with an annual capacity of 2×60,000 tons of BDO and 2×100,000 tons of PBAT/PBS/PBT/PTMEG[8]. - The energy chemical segment has completed the construction of several projects, including a 300,000 tons/year BDO project and a 120,000 tons/year PTMEG project, which are now in trial production[24]. - The company has completed the construction of a 300,000 tons/year BDO project and a 120,000 tons/year PTMEG project, which are now in trial production[44]. - The company has initiated a 450MW photovoltaic power generation project in Inner Mongolia, with full construction underway and expected completion by year-end[52]. Market Conditions and Pricing - The domestic PVC market continued to experience an oversupply situation in the first half of 2024, with a total production of approximately 11.5775 million tons, a year-on-year increase of 5.72%[28]. - The average price of caustic soda in the first half of 2024 was 3,072 RMB/ton, down 2.82% from the beginning of the year[29]. - The caustic soda production in the first half of 2024 was approximately 20.975 million tons, an increase of 8.56% compared to the same period last year[29]. - The average price of silicon iron fluctuated significantly, reaching a peak of 7,650 RMB/ton in late April 2024 before declining due to market adjustments[30]. - The total production of silicon iron in the first half of 2024 was 2.6361 million tons, a decrease of 5.2% year-on-year[30]. - The average price of coke in the first half of 2024 was 1,868 RMB/ton, down 20.61% from the beginning of the year[32]. - The total production of methanol in the first half of 2024 was approximately 37.67 million tons, an increase of 4.65% year-on-year[33]. - The average price of methanol in the first half of 2024 was 2,204.05 RMB/ton, a slight increase of 0.47% compared to the same period last year[33]. Environmental and Safety Management - The company has established a comprehensive safety management system to mitigate safety production risks in the energy and chemical sector[79]. - The company is investing in environmental protection facilities to ensure compliance with environmental standards and prevent emissions exceedance[80]. - The company has begun purchasing carbon credits in response to the EU's carbon tax regulations for shipping operations starting in 2024[81]. - The company has implemented comprehensive pollution prevention measures, ensuring that all pollutants are discharged within the national standards, with specific emissions data showing 859.31 tons of sulfur dioxide and 2,704.39 tons of nitrogen oxides for the first half of 2024[89]. - The company has achieved a 100% compliance rate in executing the "three simultaneous" system for new, modified, and expanded projects, ensuring environmental impact assessments are conducted as per legal requirements[91]. - The company has established a robust emergency response plan for environmental incidents, regularly conducting drills to optimize the response mechanism[92]. - The company has committed to continuous investment in pollution reduction and green development, enhancing its environmental management capabilities[88]. Governance and Compliance - The company has confirmed that all board members attended the board meeting, ensuring the report's authenticity and completeness[2]. - The company has not violated decision-making procedures for external guarantees[2]. - The company has not faced any issues with more than half of the board members being unable to guarantee the report's authenticity[2]. - The company’s governance practices were confirmed to comply with relevant laws and regulations during the shareholder meetings held in 2024[83]. - The company’s management structure saw a change with the resignation of the deputy general manager, Zhang Rui, on May 9, 2024, due to personal reasons[85]. - The company has committed to not transferring benefits to other entities or individuals under unfair conditions, ensuring the protection of company interests[106]. Investments and Financial Assistance - The company provided financial assistance totaling RMB 140 million to its associate company, Lianyungang Port International Petrochemical Port Co., Ltd., with a specific contribution of RMB 68.6 million from its wholly-owned subsidiary, Junzheng Logistics, at an interest rate of 4.35%[115]. - As of the end of the reporting period, the outstanding financial assistance from Junzheng Logistics to the associate company was RMB 50.0752 million[115]. - The total amount of guarantees provided by the company, including those to subsidiaries, was RMB 8.355 billion, accounting for 32.34% of the company's net assets[117]. - The company approved a guarantee limit of up to RMB 14.1 billion for its controlling subsidiaries for the year 2024[117]. Research and Development - The company is focusing on technological research and innovation to enhance its competitive advantages in resource, cost, and technology[25]. - Research and development expenses rose by 31.46% to ¥197,272,516.42, driven by increased investment in energy-saving and efficiency-enhancing projects[55]. - The company emphasizes talent development and technological innovation as key strategies for sustainable growth, with multiple national and regional recognitions for its R&D efforts[42]. - The company has successfully registered multiple environmental patents, enhancing its capacity for technological innovation in environmental protection[96]. Logistics and Supply Chain - The logistics segment controls a fleet of 1.1478 million tons and 42,983 tank containers, with significant storage and terminal capabilities in Lianyungang[26]. - The logistics segment has established a global logistics network, enhancing service efficiency and differentiating from domestic competitors[46]. - The logistics segment has maintained stable shipping rates despite international market challenges, with strong performance in both shipping and container businesses[50]. - The company is actively expanding its customer base in new regions to improve market adaptability in the chemical logistics sector[76]. Strategic Initiatives - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product offerings[72]. - The company is implementing a digital transformation strategy to enhance operational efficiency and data-driven decision-making[48]. - The company is committed to complying with national policies on carbon neutrality, focusing on upgrading old production facilities and increasing the use of renewable energy[77].