河南中孚实业股份有限公司 600595 2014 年第三季度报告 二〇一四年十月 | 一、 | 重要提示 | 2 | | --- | --- | --- | | 二、 | 公司主要财务数据和股东变化 | 2 | | 三、 | 重要事项 | 5 | | 四、 | 附录 | 8 | 2014 年第三季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员应当保证季度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 单位：元 币种：人民币 | 项目 | 本期金额 | 年初至报告期末 | | 说明 | | --- | --- | --- | --- | --- | | | （7－9 月） | 金额（1-9 | 月） | | | 非流动资产处置损益 | 1,917,922.48 | 195,419,196.36 | | | | 计入当期损益的政府补助，但与公司正常经营 业务密切相关，符合国家政策规定、按照一定 标准定额或定量持续享受的政府补助除外 | 134,900.00 | 52,464,300.00 ...

Financial Performance - The company's operating revenue for the first half of 2014 was approximately CNY 5.09 billion, representing a 3.05% increase compared to CNY 4.94 billion in the same period last year[22]. - The net profit attributable to shareholders for the first half of 2014 was approximately CNY 142.35 million, a significant recovery from a loss of CNY 197.35 million in the same period last year[22]. - The net cash flow from operating activities increased by 163.71% to approximately CNY 748.64 million, compared to CNY 283.88 million in the same period last year[22]. - The basic earnings per share for the first half of 2014 was CNY 0.08, a recovery from a loss of CNY 0.13 in the same period last year[20]. - The weighted average return on net assets for the first half of 2014 was 2.59%, compared to -3.75% in the same period last year[20]. - The company reported a significant increase in investment income, reaching CNY 25,568,685.67, compared to a loss of CNY 6,544,562.07 in the previous year, marking a 490.69% improvement[28]. - The company reported a net profit attributable to the parent company of -RMB 848,637,588.29 for the year 2013, resulting in no profit distribution for that year[44]. - The company expects to achieve profitability for the cumulative net profit attributable to the parent company from the beginning of the year to the next reporting period due to reduced electricity costs from its subsidiary Linfeng Aluminum Power[45]. Assets and Liabilities - The total assets of the company decreased by 2.76% to approximately CNY 25.89 billion from CNY 26.62 billion at the end of the previous year[22]. - The company's total current assets amount to ¥6,445,688,770.98, a decrease from ¥7,532,002,864.32 in the previous period[85]. - The total liabilities decreased to approximately ¥19.55 billion as of June 30, 2014, down from ¥20.42 billion at the end of 2013, reflecting a reduction of about 4.3%[88]. - The total equity attributable to shareholders increased to approximately ¥5.55 billion, up from ¥5.42 billion, marking a growth of about 2.4%[88]. - The total amount of raised funds for the company is RMB 335,556.36 million, with RMB 50,106.31 million used in the current reporting period[39]. Cash Flow - The company’s cash flow from operating activities showed a positive trend, with significant improvements noted in cash inflows compared to the previous year[91]. - The net cash flow from operating activities for the current period is ¥748,638,526.73, a significant increase from ¥283,882,548.03 in the previous period, representing a growth of approximately 164.2%[92]. - The net cash flow from investing activities was -¥125,907,776.81, an improvement compared to -¥756,233,103.10 in the previous period, showing a reduction in cash outflow by about 83.4%[93]. - Cash inflow from financing activities totaled ¥3,894,157,890.34, down from ¥4,131,471,928.42, representing a decrease of approximately 5.7%[93]. - The ending balance of cash and cash equivalents decreased to ¥1,247,259,266.44 from ¥3,097,246,660.99, a decline of approximately 59.7%[93]. Investments and Subsidiaries - The company made new equity investments totaling CNY 15,443,580.00, primarily in acquiring stakes in Zhongfu Aluminum and coal mining companies[35]. - The company established a new subsidiary, Henan Zhongfu Aluminum Co., Ltd., with a registered capital of RMB 10.2 million, fully owned by the company[50]. - The company has a total of 12 subsidiaries, with varying ownership structures, including wholly-owned and controlling stakes[179]. - The company reported a significant investment in coal mining operations across multiple subsidiaries, indicating a focus on resource extraction[181]. Corporate Governance - The company has complied with all relevant laws and regulations regarding corporate governance and has held 9 shareholder meetings, 9 board meetings, and 9 supervisory meetings during the reporting period[64][65]. - The company has no significant litigation, arbitration, or media questioning matters during the reporting period[48]. - The company has no bankruptcy reorganization matters during the reporting period[49]. Shareholder Information - The total number of shareholders at the end of the reporting period is 153,379[71]. - The largest shareholder, Henan Yulian Energy Group Co., Ltd., holds 57.97% of shares, totaling 1,009,620,562 shares, with 226,666,625 shares pledged[71]. Inventory and Receivables - The total inventory at the end of the period is 1,217,052,216.17, with a provision for inventory impairment of 53,336,631.68, resulting in a net book value of 1,163,715,584.49[198]. - The total accounts receivable at the end of the period amounted to ¥635,235,409.17, with a bad debt provision of ¥37,305,331.37, representing 5.87% of the total[190]. - The significant accounts receivable (over ¥5 million) accounted for ¥520,543,624.48, which is 81.94% of the total accounts receivable[190]. Financial Reporting and Compliance - The company has implemented the accounting standards set by the Ministry of Finance since January 1, 2007, ensuring compliance with financial reporting requirements[109]. - The company's financial statements reflect its financial position, operating results, and cash flows accurately and completely[110]. - The company follows a calendar year for its accounting period, from January 1 to December 31[111].

Financial Performance - The net profit attributable to the parent company for 2013 was -848,637,588.29 RMB, indicating a significant loss compared to the previous year[6]. - The company's operating revenue for 2013 was CNY 10,668,323,052.85, a decrease of 3.39% compared to CNY 11,042,238,855.92 in 2012[30]. - The net profit attributable to shareholders was a loss of CNY 848,637,588.29, a decline of 1,558.89% from a profit of CNY 58,169,958.04 in the previous year[30]. - The basic earnings per share for 2013 was -CNY 0.55, down 1,540.93% from CNY 0.04 in 2012[31]. - The weighted average return on equity was -17.07%, a decrease of 18.16 percentage points from 1.09% in 2012[31]. - The company reported a net profit decrease for Linfeng Aluminum due to falling aluminum prices and fixed asset impairment provisions[76]. - The company’s net profit for Zhongfu Power increased significantly due to falling coal prices and rising electricity prices compared to the previous year[76]. - The company anticipates a revenue of approximately RMB 11 billion for 2014, focusing on stable operations and accelerating deep processing projects[80]. - The company expects a net profit attributable to the parent company of approximately -1 billion RMB for the fiscal year 2013[122]. - The net profit for 2013 was approximately -CNY 861.55 million, compared to a profit of CNY 110.92 million in 2012, indicating a significant decline[186]. Capital and Equity Changes - The registered capital increased from 1,514,873,778 RMB to 1,741,540,403 RMB during the reporting period[23]. - The company completed a non-public stock issuance of 22,666,600 shares at a price of CNY 4.44 per share, raising a net amount of CNY 99,280,920[56]. - The company completed a private placement of 226,666,625 restricted shares, increasing total share capital from 1,514,873,778 to 1,741,540,403 shares[116]. - The equity stake of the controlling shareholder, Yulian Group, increased from 51.68% to 57.97% following the share issuance[117]. - The total number of shareholders at the end of the reporting period was 157,613, an increase from 155,072 five trading days prior[118]. - The total share capital increased from 1,514,873,778 shares to 1,741,540,403 shares due to a private placement of 226,666,625 shares in November 2013[200]. Operational Challenges - The company faced significant operational pressure due to the prolonged low aluminum prices, impacting its financial performance[15]. - The average selling price of aluminum products decreased by 7.99% compared to the previous year, contributing to a 4.9% decline in main business income[42]. - The company has experienced risks related to aluminum price fluctuations and raw material procurement, particularly for alumina[81]. - The company has faced significant operational pressures due to a substantial decline in aluminum prices, leading to a market adjustment period for electrolytic aluminum enterprises[79]. Research and Development - The total R&D expenditure for the period was CNY 110,218,807.85, representing 1.78% of net assets and 1.03% of operating revenue[52]. - The company has established a joint research center with Shanghai Jiao Tong University to enhance the development of high-purity aluminum and new materials[67]. - The company is committed to developing new materials, products, and technologies to enhance its integrated industrial chain in aluminum processing[122]. Internal Control and Governance - The company has implemented a comprehensive internal control management system, improving risk management processes and internal information systems[153]. - The internal control audit report confirmed the effectiveness of the internal control system as of December 31, 2013[169]. - The company has maintained compliance with the Company Law and relevant regulatory requirements regarding corporate governance[155]. - The company has established various governance rules to ensure clear responsibilities and effective checks and balances among its power, decision-making, execution, and supervisory bodies[152]. Employee and Management Information - The total number of employees in the parent company is 2,760, while the total number of employees in major subsidiaries is 8,596, resulting in a combined total of 11,356 employees[142]. - The total remuneration payable to the board members before tax amounted to 2,536,700 RMB (approximately 253.67 million RMB) for the reporting period[130]. - The chairman, He Huaqin, received a total remuneration of 320,000 RMB (approximately 32 million RMB) during the reporting period[130]. - The company has implemented a "thousand professional technical talent plan" to enhance the quality of its workforce through various training programs[144]. Financial Position - The company's total assets increased by 2.75% to CNY 26,624,004,565.68 at the end of 2013, compared to CNY 25,912,083,959.07 at the end of 2012[30]. - The company's total liabilities rose to CNY 20.42 billion in 2013, compared to CNY 18.96 billion in 2012, an increase of 7.69%[184]. - The company's cash and cash equivalents decreased to CNY 3.84 billion in 2013 from CNY 4.25 billion in 2012, a decline of 9.43%[182]. - The total equity decreased to CNY 6.21 billion in 2013 from CNY 6.95 billion in 2012, a drop of 10.65%[184]. Guarantees and Financing Activities - The total guarantee amount (including guarantees to subsidiaries) reached CNY 5,476,633,086, accounting for 101.13% of the company's net assets[98]. - The company provided guarantees for various financing limits, including RMB 95 million for Henan Zhongfu Electric Power Co., Ltd. and RMB 50 million for Linzhou Linfeng Aluminum Electric Co., Ltd.[162]. - The company has issued bonds totaling 15 billion RMB and 10 billion RMB in previous years, indicating ongoing financing activities[115].

Financial Performance - Operating revenue for the first quarter reached CNY 2,904,421,813.18, representing a 17.80% increase year-on-year [10]. - Net profit attributable to shareholders was CNY 27,408,364.99, a significant recovery from a loss of CNY 118,971,277.69 in the same period last year [10]. - The net profit for the period is expected to be positive due to a significant reduction in electricity costs from direct supply by a subsidiary [22]. - Net profit for Q1 2014 was a loss of CNY 75,803,176.92, an improvement from a loss of CNY 115,406,602.75 in Q1 2013 [25]. - The company reported a basic earnings per share of CNY 0.02 for Q1 2014, compared to a loss of CNY 0.08 in Q1 2013 [25]. - The total comprehensive income for Q1 2014 was a loss of CNY 75,803,176.92, an improvement from a loss of CNY 115,406,602.75 in the same period last year [25]. - The net profit for Q1 2014 was CNY 335,508.40, recovering from a net loss of CNY 69,296,349.78 in the same period last year [35]. Assets and Liabilities - Total assets increased by 0.64% to CNY 26,794,199,645.97 compared to the end of the previous year [10]. - As of March 31, 2014, the total assets of Henan Zhongfu Industrial Co., Ltd. amounted to CNY 26,794,199,645.97, an increase from CNY 26,624,004,565.68 at the end of 2013 [21]. - The company's current assets decreased slightly to CNY 7,515,521,471.80 from CNY 7,532,002,864.32 [21]. - The total liabilities increased to CNY 20,665,961,490.45 from CNY 20,415,820,250.63, indicating a rise in financial obligations [23]. - The total liabilities increased to CNY 13,104,041,962.79 as of March 31, 2014, up from CNY 12,720,369,769.13 at the end of 2013, reflecting a growth of 3.0% [33]. - The total equity rose to CNY 6,000,601,987.71, an increase of 5.5% from CNY 5,689,331,536.47 at the end of 2013 [33]. Cash Flow - The net cash flow from operating activities decreased by 59.97% to CNY 297,851,582.98 compared to the previous year [10]. - The net cash flow from operating activities for Q1 2014 was CNY 29,173,154.10, a significant decline from CNY 572,845,014.41 in Q1 2013 [37]. - Cash outflow from investing activities was CNY 78,498,212.81, compared to CNY 587,827,586.31 in the previous year, indicating a reduction in investment spending [37]. - Cash flow from financing activities showed a net outflow of CNY 243,816,113.04 in Q1 2014, contrasting with a net inflow of CNY 454,059,765.97 in Q1 2013 [37]. Receivables and Payables - The company reported a 154.01% increase in notes receivable, totaling CNY 226,854,762.02, primarily due to increased payments settled by notes [17]. - Accounts receivable increased to CNY 705,436,629.45 from CNY 629,768,284.41, reflecting a growth in credit sales [21]. - The accounts payable increased to CNY 652,034,716.37, up from CNY 534,532,394.73, reflecting a rise of 21.9% [33]. Inventory and Expenses - Prepayments rose by 73.06% to CNY 419,731,525.45, mainly due to increased prepayments for aluminum product sales [17]. - The company experienced a 40.63% reduction in selling expenses, amounting to CNY 6,091,243.79, attributed to decreased shipping costs [17]. - Inventory levels decreased to CNY 1,259,611,076.27 from CNY 1,306,120,008.58, indicating improved inventory management [21]. - The company's inventory decreased to CNY 298,686,947.07 as of March 31, 2014, from CNY 729,613,701.82 at the end of 2013 [31]. Investment and Financing - Investment income decreased significantly by 634.17% to a loss of CNY 6,262,631.31, mainly due to reduced investment returns from Yonglian Coal and Zhongfu Thermal [17]. - Short-term borrowings rose to CNY 2,477,514,113.60 from CNY 2,373,403,334.49, suggesting increased reliance on debt financing [23]. - The company's short-term borrowings decreased slightly to CNY 1,642,514,113.60 from CNY 1,679,932,000.00 at the end of 2013 [33]. - The company reported a financial expense of CNY -2,689,175.41 in Q1 2014, a significant improvement compared to CNY 86,937,292.29 in Q1 2013 [35].