[中报]本钢板Ｂ(200761):2022年半年度报告（英文版）
原标题:本钢板Ｂ:2022年半年度报告（英文版） 2022 Semi-annual Report August, 2022 Section Ⅰ. Important Notice, Table of Contents, and Definitions The Board of Directors, the Supervisory Committee and the Directors, members of the Supervisory Committee and senior management of the Company guarantee that there are no misrepresentations or misleading statements, or material omission in this report, and individually and collectively accept full responsibility for the authenticity, accuracy and integrity of the information contained in this report. Huo Gang, Legal representative, Jiang Xiaoyu, Chief financial officer, and Sun Yanbin, Chief accountant, (the person in charge of the accounting), make the pledge for the authenticity, accuracy and integrity of the attached financial statements. All the members of the Board of Directors attended the board meeting on which this report was examined. The prospective statements contained in this annual report do not constitute any substantial commitment to the investors. Investors should pay attention to the risks attached to investment decisions. This report is prepared in both of Chinese and English. The Chinese version shall prevail when there are any controversial statements in the two versions. The company has described the existing risks and countermeasures in detail in this report. Please refer to Section III-10 “Risks faced by the company and Countermeasures”. “China Securities Journal”, “Securities Times”, “Hong Kong Commercial Daily” and Juchao Information Network (www.cninfo.com.cn) are the company's selected information disclosure media. All information of the company is based on the information published in the above-mentioned designated media. Investors are advised to pay attention to investment risks. The company does not have any significant risks that require investors’ attention. There exists no plan for the company to distribute profit ,bonus stocks or convert capital reserve into share capital. Table of Contents SECTION Ⅰ. IMPORTANT NOTICE, TABLE OF CONTENTS, AND DEFINITIONS ............. 2 SECTION II. COMPANY PROFILE AND MAIN FINANCIAL INDEX ................................ 3 SECTION III. MANAGEMENT DISCUSSION AND ANALYSIS ....................................... 6 SECTION Ⅳ. CORPORATE GOVERNANCE .............................................................. 24 SECTION V. ENVIRONMENTAL AND SOCIAL RESPONSIBILITY .................................. 26 SECTION VI. IMPORTANT EVENTS ......................................................................... 31 SECTIONⅦ. STATUS OF SHARE CAPITAL CHANGES AND SHAREHOLDERS.............. 63 SECTION Ⅷ. STATUS OF PREFERRED SHARES ..................................................... 67 SECTION Ⅸ. STATUS OF CONVERTIBLE CORPORATE BONDS .................................. 69 SECTION Ⅹ. FINANCIAL REPORT ........................................................................... 73 Reference File Directory 1. Financial statements signed and sealed by Legal representative, Chief financial officer, Chief accountant (the person in charge of the accounting). 2. The originals of all company documents and announcements publicly disclosed during the reporting period. 3. Semi-annual reports published in other securities markets. Definition
Section II. Company Profile and Main Financial Index I. Company Information
1. Contract information Changes of registration address, office address, mail code, Company website and E-mail address of Company □ Applicable √ Not applicable There exists no changes in registration address, office address, mail code, Company website and E-mail address of Company during the reporting period. Investors are advised to refer to Annual Report 2021 for detail information. 2. Information Disclosure and Place for Consulting Changes of information disclosure and place for consulting. □ Applicable √ Not applicable There exists no changes in Press media for information disclosure,Web address for the Semi-annual report as assigned by CSRC and the place for consulting.Investors are advised to refer to Annual Report 2021 for detail information. 3. Other relevant Information Changes of other relevant information. □ Applicable √ Not applicable IV. Main Accounting Data and Financial Index Whether the company needs to retrospectively adjust or restate accounting data for previous years □ Yes √ No
accounting standards. □ Applicable √ Not applicable There are no differences of net profit and net assets disclosed in financial reports prepared under IFRS and Chinese accounting standards during the reporting period. 2. Differences of net profit and net assets disclosed in financial reports prepared under overseas and Chinese accounting standards. □ Applicable √ Not applicable There are no differences of net profit and net assets disclosed in financial reports prepared under overseas and Chinese accounting standards during the reporting period. VI. Items and Amount of Non-recurring Profits and Losses √ Applicable □ Not applicable Unit: Yuan
There exists no situation of other profit and loss items that meet the definition of non-recurring profit and loss. Explanation on defining the non-recurring profit and loss items listed in the "Explanatory Announcement No. 1 on Information Disclosure of Companies Offering Securities to the Public - Non-recurring Profit and Loss" as recurring profit and loss items. □ Applicable√ Not applicable The company does not define the non-recurring profit and loss items listed in the "Explanatory Announcement No. 1 on Information Disclosure of Companies Offering Securities to the Public - Non-recurring Profit and Loss" as recurring profit and loss items. Section III. Management Discussion and Analysis I. The main business of the company during the reporting period 1. Industry development situation In the first half of the year 2022,the macroeconomic situation in domestic and abroad is facing severe challenges. The conflict between Russia and Ukraine has led to a sharp rise in global energy prices, created more inflationary pressure,and the global supply chain was strongly impacted. Affected by the COVID-19 epidemic in the second quarter, domestic steel demand was sluggish.In addition, in the first half of this year, steel mills began to increase production volume in a large scale. Under the background of strong supply and weak demand, the basic surface of steel industry was deteriorating gradually, and therefore steel price ran in weak section. In the first half of the year 2022, the steel market was in a state of "high cost" and "low profit" for a long time. 2. Main business, main products and their uses During the reporting period, the company’s main businesses include iron and steel smelting, rolling processing, power generation, coal chemical industry, special steel profiles, railways, import and export trade, scientific research, product sales, etc. The introduction of world advanced equipment and technology to implement equipment upgrades for the main iron and steel industry and have built a high-quality steel base, formed more than 60 varieties, more than 7,500 specifications of product series, the proportion of high value-added and high-tech products reached more than 80%. The leading products for automotive surface panels, home appliance panels, petroleum pipeline steel, container panels, shipboard, etc. are widely used in the fields of automobiles, home appliances, petrochemicals, aerospace, machinery manufacturing, energy and transportation, building decoration and metal products, and are exported to more than 60 countries and regions. There exists no changes in main business during the reporting period. 3. Business model Procurement model: The company's procurement model includes domestic procurement and foreign procurement. Domestic material procurement is carried out through centralized procurement, unified bidding, price comparison, and consultation. The procurement of foreign materials is carried out through long-term cooperative procurement, direct procurement, open and invitational bidding, inquiry and price comparison, competitive negotiation, negotiation procurement, etc., which mainly act by Bensteel Group International Economic and Trade Co., Ltd. Sales model: The company's sales are divided into domestic sales and export sales. Domestic sales mainly adopt the direct sales model. The company sells directly to large customers, and other small and medium customers sell to them through regional sales subsidiaries. Export sales mainly act through the strong marketing network accumulated in international trade by Bensteel Group International Economic and Trade Co., Ltd., who acts as agent of the export sales and charges the agency fee. 4. Key drivers of performance During the reporting period, the company obtained hard-won operating and reform achievement through series of specific measures, and the level of corporate governance was significantly improved as well. These specific measures were mainly guided by focusing on "7531" strategic objectives and "1357" work guidelines, changing operating mind,self-pressurization,firmly grasping two main lines of benchmark and reform,sticking to taking economic benefits as center,vigorously promoting the implementation of "1 + 2 + 3" key work.The company's main business performance indicators have achieved steady growth,including:pig iron completed 4.95 million tones, a year-on-year decrease of 4.07% which represents 0.2 million tones; crude steel completed 5.20million tons,a year-on-year decrease of 6.60% which represents 0.37 million tons; hot-rolled plates completed 6.77 million tons,a year-on-year decrease of 4.01% which represents 0.29 million tons; cold-rolled plates completed 2.30 million tons,a year-on-year decrease of 4.29% which represents 0.13 million tons; special steel products completed 0.28 million tons, a year-on-year decrease of 27.99% which represents 0.11million tons. Reviewing the work of the first half year, it was mainly carried out in the following aspects: (1) Anchoring two benefits and four ratios, the company's anti-risk ability was enhanced. In the first half of the year 2022, under the dual pressure of the year-on-year increase of the budget and the year-on-year decrease of the industry, the sales profit margin achieved the target and ranked higher among the steel enterprises. Even with a dividend distribution of 2.465 billion yuan, the asset liability ratio still declined, better than the average level of the iron and steel industry, and the company achieved "double wins". (2) Implementing the high-quality strategy and reaching a new high output of automobile panels. For purpose of making the automobile plate as a strategic fist product, the company vigorously promoted the research and development of the third generation automobile steel and quality research, improved the consistent manufacturing technology of automobile plate, and prepared the product plan of automobile plate, thus improved company's benefit creation ability continuously. (3) Taking the system as the starting point, and steadily improving the quality of real product. The company vigorously promoted the consistent quality management of the whole process, and furtherly refined the quality control of the production process. The first-time pass rate of the original varieties in each process continued to increase month on month. B170P phosphorized high-strength cold-rolled steel strip, cold-rolled low-carbon steel sheet and strip won the gold-cup award for quality of metallurgical products of China Iron and Steel Industry Association. (4) Insisting on tapping potentialities through benchmarking, cost reduced significantly. By studying and making judgement on the market situation in both supply and demand sides, beginning with reducing production costs, and declaring motivation orders and encouragement policies for all employees to improve quality and reduce cost, the company obtained significant achievement in reducing cost and improving economic benefits. (5) Concentrating on advantages, the "star production line" achieved initial results. With the "star production line" as the guide, through the inclination of resources input, policies making and other aspects, the production efficiency was greatly improved, and the key indicators continued to be improved on the basis of operating the company economically. (6) Breaking the traditional shackles and making new strides in enterprise reform. The company started pilot exploration in the reform of "authorization + common benefit" applicable to different tracks such as docking market , similar business portfolio integration ,etc. , and the company achieved good results during reporting period. (7) In adherence to the innovation driven, creating the source of original technology. With taking the advantages of the restructuring of Ansteel and Bensteel Co,Ltd, the company completed the revision of the "14th five year plan" that will guide the high-quality development of the company in a long way. Hot rolled oxidation resistant coating free hot forming steel cf-phs1500 was launched in the world and reached the international leading level. Substantial progress has been made in the development and application of raw pure iron bgyt3. A historic breakthrough in the level of converter steel reached the domestic leading level. II. Analysis on Core Competitiveness The company adheres to the innovation-driven and "quality + service" development model, pursues for the strategic goal of building an internationally competitive high-quality plate base, a domestic first-class special steel base and a comprehensive service provider, and acting as a strategic leading role, focusing on improving quality and efficiency, In terms of product upgrades, technological innovation, green and intelligent manufacturing, we made efforts to innovate management ideas, enhance the core competitiveness of enterprises, and promote enterprises to achieve high-quality, green and intelligent development. 1. Manufacturing capabilities Through the innovation of management mind, strengthening professional management and controlling capacity of the entire chain, and continuously improving corporate management efficiency, all departments and units interact with each other, continue to implement the concept of priority on output, adhere to the iron system as the core, focus on the process connection of iron and steel, and rationally match the production line and resource production organization principles of the steel post process, so that the production process and operation Continuously standardize and refine, make every effort to maximize quality, efficiency and production scale, and promote the entire production chain toward high-end manufacturing. 2. Equipment transformation and upgrading In 2022, the company launched a fixed asset investment plan of 1.66 billion yuan. Implemented a new round of large-scale technological transformation and ultra-low emission transformation projects represented by key projects such as special steel electric furnace upgrading, special steel rolling mill renovation, CCPP power generation project, coke oven flue gas desulfurization and denitrification, sintering gas desulfurization and denitrification . At present, the CCPP power generation project has been put into operation. The special steel electric furnace upgrade and transformation project will be commissioned and put a set of electric furnaces and supporting refining equipment, continuous casting equipment into production in the second half of the year 2022. Coke oven flue gas and sintering gas desulfurization and denitrification projects are expected to be constructed one after another in this year. 3. New product development capabilities The company plans to develop 35 grades of steel production. Until the end of the first half of the year 2022, 24 grades of steel production which represents 68.6% have been completed and launched in the market. With the successful development of the hot rolled base material brq1 of oriented silicon steel, the company filled the blank in the field of oriented silicon steel production.The steel 18crnimo7-6fph for construction machinery exported to Belgium has been developed and the product meets the requirements of the German standard din50602 and the American Standard astme381.The development of market unique limit width (2000mm) high-strength tank steel 550gt-th accessed is the first one developed in China. 4. Technological innovation ability In the aspect of scientific and technological cooperation, as the promotion of scientific and technological cooperation between Ansteel and Bensteel, the company transplanted and transformed mature technologies of Ansteel gradually and signed 10 contracts. Also,the company carried out research on new products and cutting-edge technologies relying on the platform of Liaoning industry university research innovation alliance and signed 8 Industrial University research cooperation projects with Dalian University of technology, Northeast University and Liaoning University of science and technology. In terms of intellectual property rights, 3 national standards and 57 corporate standards were drafted; 127 patents were accepted by the National Bureau, and 55 patents were authorized by the National Bureau, including 9 inventions. In terms of scientific and technological achievements,integrated innovation and practice of production technology of high-end environmental protection and fingerprint resistant galvanizing products won the second prize of science and technology of Liaoning Province; the development of steel for oil production well control equipment series, the research and development and application of low-cost and high-performance cold rolled 590MPa grade dual phase steel, the research and application of key preparation technology of non quenched and tempered ultra high strength structural steel for construction machinery, and the key technology and application of coking coal price effect evaluation and large-scale blast furnace coke quality adaptive optimization control all won the third prize of science and technology of Liaoning Province; development of high-quality and economical Nb microalloyed automobile galvanized dual phase steel series won the second prize of CITIC niobium steel technology progress. 5. Green development capability In accordance with the steel industry and local ultra-low emission policy requirements, the company was committed to social responsibilities. Relying on professional planning and research institutions, the company prepared an environmental protection improvement plan and an annual implementation plan. A total of more than 40 ultra-low emission projects were checked, all of which have been included in the investment plan and are under construction or preliminary work. Through comprehensive green improvement such as cleaner production level, three waste management, environmental protection management,and AAA" scenic spot garden factory,the company achieved community-based environmental quality, promoted the integration of industry and city, and is striving to achieve ultra-low emission by the end of 2023, and build the company into an "ecological steel" that develops harmoniously with the city. 6. Intelligent manufacturing capabilities The company has vigorously promoted the construction of intelligent manufacturing related projects. In 2022, the company has issued to carry out intelligent transformation strategy in such fields as the integration construction of information system for the restructuring of Ansteel and Bensteel Co., Ltd., and the supporting system for the overall improvement of iron and steel industry management and information technology. Learn the informatization and intelligent construction experience of Bayuquan and Jilin Jianlong and apply the good modular system, formulate the development plan of the plate company in the next 3-5 years, and improve the information technology service application ability. Vigorously promote the construction of "digital Ansteel", break the information island, set up 12 special groups to promote integration and supporting projects, actively integrate Ansteel’s management mind, and comprehensively improve management efficiency and effectiveness. III. Management Discussion and Analysis 1. General The investors are advised to refer to “I. The main business of the company during the reporting period” for details. 2. Significant Change of Main Accounting Data Unit: Yuan
3. Breakdown of Operating Income Currency unit: Yuan
√ Applicable □ Not applicable
Company's main business statistics caliber has changed during the reporting period □ Applicable √ Not applicable Explanation of the reasons for the year-on-year change over 30% in relevant data □ Applicable √ Not applicable IV. Analysis on Non-core Business √ Applicable □ Not applicable
1. Significant Change of Assets Components
□ Applicable √ Not applicable 3. Assets and Liabilities Measured at Fair Value □ Applicable √ Not applicable 4.Restricted Assets by the End of the Period
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