Financial Performance - The company's operating revenue for the first half of 2014 was ¥482,817,224.03, representing a 7.11% increase compared to ¥450,761,413.69 in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2014 was ¥67,801,350.46, a significant increase of 91.10% from ¥35,480,047.06 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was ¥64,852,671.24, which is a 102.03% increase compared to ¥32,100,776.58 in the same period last year[18]. - Basic earnings per share for the first half of 2014 were ¥0.25, a 92.31% increase from ¥0.13 in the same period last year[18]. - The weighted average return on equity increased to 5.88%, up by 2.61 percentage points from 3.27% in the previous year[18]. - The company achieved a total electricity generation of 795 million kWh, a 6.85% increase from 744 million kWh in the same period last year[23]. - The total sales volume reached 768 million kWh, reflecting a 12.94% growth compared to 680 million kWh in the previous year[23]. - Revenue for the period was 483 million RMB, up 7.10% from 451 million RMB year-on-year[23]. - Net profit attributable to shareholders was 68 million RMB, representing a significant increase of 91.10% compared to 35 million RMB in the same period last year[23]. - Total assets increased to 3.782 billion RMB, a growth of 7.34% since the beginning of the year[23]. Cash Flow and Assets - The net cash flow from operating activities was ¥135,332,686.92, showing a decrease of 11.60% from ¥153,090,752.64 in the previous year[18]. - The total assets at the end of the reporting period were ¥3,782,204,950.08, reflecting a 7.34% increase from ¥3,523,464,910.37 at the end of the previous year[18]. - The net assets attributable to shareholders at the end of the reporting period were ¥1,187,224,736.93, which is a 6.06% increase from ¥1,119,423,386.47 at the end of the previous year[18]. - The total liabilities rose to 2.537 billion RMB, marking an 8.23% increase from the start of the year[23]. - The cash flow from operating activities decreased by 11.60% to 135 million RMB compared to the previous year[28]. - The total cash and cash equivalents at the end of the period amounted to CNY 564,221,477.01, an increase from CNY 446,625,419.05 at the end of the previous year[110]. - The company's total equity as of June 30, 2014, was CNY 1,158,170,422.70, an increase from CNY 1,108,807,351.92 at the beginning of the year[100]. Investments and Projects - The company plans to raise up to 860 million RMB through a non-public offering of shares to fund projects and supplement working capital[33]. - Key engineering projects, including the construction of several hydropower stations, are progressing according to plan, laying a solid foundation for future development[26]. - The cumulative actual investment in non-public fundraising projects reached CNY 57,384 million, with a total project amount of CNY 105,283 million[48]. - The company has ongoing projects such as the Lianghuato Water Power Station with an investment of CNY 36,668 million, currently under construction[48]. - The company completed the acquisition of 100% equity from seven individual shareholders of Wanzhou Hengfeng Hydropower Equipment Engineering Co., Ltd. for CNY 1.7789 million, effective from March 2014[55]. Shareholder and Equity Information - The total number of shareholders at the end of the reporting period was 46,824[84]. - The largest shareholder, Chongqing Zhongjie Energy Industry Co., Ltd., holds 13.82% of the shares, totaling 36,982,000 shares[84]. - The second-largest shareholder, the Ministry of Water Resources Comprehensive Development Management Center, holds 12.24% of the shares, totaling 32,736,000 shares[84]. - The company plans to distribute a cash dividend of CNY 1.20 per 10 shares, totaling CNY 32,103,984.00, based on the total share capital of 267,533,200 shares[49]. Regulatory and Compliance - The company has maintained strict compliance with commitments regarding the independence of operations and avoidance of related party transactions[71]. - There have been no administrative penalties or public reprimands from the China Securities Regulatory Commission during the reporting period[75]. - The company has established a three-party supervision agreement for the special account of the raised funds within one month of the funds being received[73]. Risk Management and Internal Controls - The company has improved its internal control system, completing the revision and implementation of 45 internal control measures[25]. - The company has a statutory reserve of CNY 44,999,360.27, which is maintained for risk management purposes[133]. - The company has not reported any asset acquisitions or sales related to significant related party transactions during the reporting period[59]. Financial Reporting and Accounting Policies - The financial statements are prepared based on the going concern principle and comply with the requirements of enterprise accounting standards, reflecting the company's financial position and operating results accurately[138]. - The company recognizes impairment losses for available-for-sale financial assets when the fair value significantly declines and is deemed non-temporary[148]. - The company assesses receivables for impairment based on future cash flow present value being lower than the carrying amount, with significant receivables defined as those over 10 million yuan[149]. Subsidiaries and Market Expansion - The company has established several wholly-owned subsidiaries, including Chongqing Sanxia Water Conservancy Development Co., Ltd. with a registered capital of CNY 10,000,000, focusing on hydropower and related services[173]. - The company is actively involved in the development of hydropower projects, indicating a commitment to renewable energy and infrastructure investment[173]. - The company aims to enhance its market position through strategic mergers and acquisitions in the energy sector[178].

Financial Performance - Net profit attributable to shareholders reached CNY 3,596,456.72, a significant increase of 160.21% from a loss of CNY 5,972,768.25 in the same period last year[10]. - Operating revenue for the first quarter was CNY 249,861,673.20, reflecting a growth of 10.57% year-on-year[10]. - Basic earnings per share improved to CNY 0.01, a 150.00% increase from a loss of CNY 0.02 per share in the previous year[10]. - The company reported a net profit after deducting non-recurring gains and losses of CNY 3,216,215.17, compared to a loss of CNY 9,358,413.71 in the same period last year[10]. - Net profit for Q1 2014 was CNY 1,507,259.26, a significant recovery from a net loss of CNY 8,866,948.30 in the previous year[45]. - The company reported a profit margin of 0.6% in Q1 2014, compared to a negative margin in the same quarter last year[45]. Assets and Liabilities - Total assets increased by 3.13% to CNY 3,633,659,465.01 compared to the end of the previous year[10]. - The company's total liabilities as of March 31, 2014, were 2.4523 billion RMB, compared to 2.3436 billion RMB at the beginning of the year, indicating an increase of about 4.6%[35]. - Total liabilities decreased to CNY 1,228,635,995.47 from CNY 1,371,847,242.99, a reduction of about 10.4%[42]. - The company's total equity as of March 31, 2014, was 1.1814 billion RMB, slightly up from 1.1799 billion RMB at the beginning of the year[35]. Cash Flow - Net cash flow from operating activities surged by 1,538.35% to CNY 69,584,506.46 compared to CNY 4,247,243.77 in the same period last year[10]. - Operating cash inflow for the current period reached ¥399,119,494.26, an increase of 21.7% compared to ¥328,018,559.79 in the previous period[53]. - Cash inflow from financing activities was ¥300,420,000.00, a decrease from ¥635,462,000.00 in the previous period[59]. - The company reported a net increase in cash and cash equivalents of ¥6,817,392.74, a significant decrease from ¥325,655,448.60 in the previous period[59]. Shareholder Information - The total number of shareholders reached 48,812 by the end of the reporting period[14]. - The top shareholder, Chongqing Zhongjieneng Industrial Co., Ltd., holds 13.82% of the shares, totaling 36,982,000 shares[14]. Inventory and Prepayments - Inventory increased by 34.65% to CNY 232,609,146.45 compared to CNY 172,745,348.49 in the previous year[16]. - Prepayments increased by 80.24% to CNY 193,947,027.12 from CNY 107,603,041.57 year-on-year[16]. Strategic Plans - The company plans to transfer 55% equity of Xinhua Hydropower Co., Ltd. to China Nuclear Engineering Group for CNY 3.96 billion[15]. - The company plans to issue up to 10,129.56 million shares in a private placement, aiming to raise no more than CNY 86,000 million for project funding and working capital[23]. - The company plans to expand its market presence through strategic partnerships and project developments, particularly in hydropower projects[24]. Other Financial Metrics - The weighted average return on net assets increased by 0.88 percentage points to 0.32% from -0.56% in the same period last year[10]. - Sales expenses decreased by 31.21% to CNY 412,482.25 from CNY 599,609.67 year-on-year[16]. - Other operating income decreased by 49.08% to CNY 1,090,474.96 from CNY 2,141,553.46 in the previous year[16]. - Cash received from investment activities decreased by 82.62% to CNY 521,548.82 compared to CNY 3,000,000.00 last year[16].

Financial Performance - In 2013, the company achieved operating revenue of CNY 1.369 billion, a 44.84% increase from CNY 945 million in 2012[23]. - The net profit attributable to shareholders reached CNY 104.20 million, reflecting a 26.77% growth compared to CNY 82.20 million in the previous year[23]. - The company's net cash flow from operating activities was CNY 338.45 million, a significant increase of 72.37% from CNY 196.35 million in 2012[23]. - The company's total assets at the end of 2013 amounted to CNY 3.523 billion, an 11.46% increase from CNY 3.161 billion at the end of 2012[23]. - The company's gross profit margin improved, with operating profit accounting for 69.98% of total profit, up from 69.11% in the previous year[45]. - The company reported a significant increase in investment income, with cash received from investment gains rising by 197.72% to CNY 16,077,057.01[35]. - The company achieved a total electricity generation of 1.687 billion kWh, a 13.07% increase from 1.492 billion kWh in the previous year, completing 106.64% of the annual plan[48]. - The total electricity sales reached 1.531 billion kWh, up 12.99% from 1.339 billion kWh year-on-year, achieving 107.44% of the annual target[48]. - The revenue from electricity business was 858 million RMB, representing a 15.32% increase from 744 million RMB in the previous year, fulfilling 108.61% of the annual plan[48]. Dividend Policy - The company plans to distribute a cash dividend of 1.2 CNY per 10 shares, totaling 32,103,984 CNY (including tax) based on a total share capital of 267,533,200 shares as of the end of 2013[4]. - The proposed dividend for 2013 is 1.2 RMB per 10 shares, totaling 32,103,984.00 RMB, with remaining undistributed profits to be allocated in future years[100]. - The company distributed a cash dividend of 2 RMB per 10 shares for the 2012 fiscal year, amounting to 53,506,640.00 RMB[98]. - The company has established a cash dividend policy, committing to distribute at least 10% of its distributable profits as dividends, subject to board approval[97]. Corporate Governance - The independent auditor issued a standard unqualified audit report for the company[4]. - The company has implemented a robust internal control system, revising over 50 internal control regulations to enhance governance and operational standards[32]. - The board of directors ensured shareholder rights were protected through transparent and stable high cash dividends[34]. - The company has provided opportunities for minority shareholders to express their opinions and protect their rights[98]. - The company has established a comprehensive insider information management system to protect shareholder rights and ensure fair information disclosure[184]. - The governance structure of the company is designed to ensure clear responsibilities and effective operation among its power, decision-making, supervisory, and management bodies[184]. - The company maintains complete independence from its actual controller in business, personnel, asset, institutional, and financial aspects[193]. Risk Management - The company has outlined potential risks in its future development strategies, which are detailed in the board report[9]. - The company faces risks related to climate change, which could impact its hydropower generation efficiency and lead to higher costs for electricity purchases[93]. - The company has implemented effective measures to control and mitigate external guarantee risks[117]. - The internal control evaluation process is subject to risks due to changing circumstances that may render controls inappropriate[197]. Investments and Projects - The company has actively pursued a "going out" strategy, including investments in Yunnan's Minrui Hydropower Co., Ltd. and ongoing construction of the Mangya River Hydropower Project[31]. - The company is currently developing multiple hydropower projects, including the Lianghuaituo and Zhenquan projects, with total investments of CNY 26,500 million and CNY 22,100 million respectively[74]. - The company has invested CNY 25 million in Minrui Hydropower, acquiring a 55.56% stake and becoming its controlling shareholder[108]. - The company has completed the acquisition of assets from Jinxikong Hydropower Co., totaling 146.88 million RMB, with all payments made by the end of 2013[131]. Shareholder Information - As of the end of the reporting period, the total number of shares outstanding is 267,533,200, with all shares being tradable following the lifting of restrictions on 20,000,000 shares on June 29, 2013[153]. - The company reported a total of 48,667 shareholders at the end of the reporting period, with the top ten shareholders holding significant stakes, including 13.82% by Chongqing Zhongjie Energy Industry Co., Ltd.[156]. - The company has no internal employee shares as of the end of the reporting period[154]. Management and Personnel - The total compensation amount for the land use rights recovery and relocation of the switch station and line was CNY 50 million, with CNY 23.7 million already received[108]. - The total compensation for senior management in 2013 amounted to CNY 419.56 million, with no changes in shareholding during the reporting period[167]. - The company employed a total of 1,932 staff, with 79 in the parent company and 1,853 in major subsidiaries[177]. - The company has established a multi-level compensation policy for employees, including fixed salaries and performance-based incentives[179]. Internal Controls - The company has established a comprehensive internal control system with over 50 regulations covering key processes such as production, investment, financial management, audit supervision, and information disclosure[200]. - External auditors conduct annual audits of the internal control design and execution, providing independent opinions[199]. - The internal control system aims to ensure legal compliance, asset security, and the authenticity of financial reporting[197]. Environmental and Social Responsibility - The company has not reported any major environmental issues or social safety problems[102]. - There are no bankruptcy reorganization matters reported for the year[107].