Financial Performance - Total operating income for the first half of 2021 was CNY 1,370,068,969.44, a decrease of 13.96% compared to the same period last year[23] - Net profit attributable to shareholders of the listed company reached CNY 111,693,134.60, an increase of 70.98% year-on-year[23] - The net cash flow from operating activities was CNY 265,782,659.23, down 74.88% from the previous year[23] - The total assets at the end of the reporting period were CNY 30,835,502,022.79, a decrease of 9.63% compared to the end of the previous year[23] - The net asset attributable to shareholders of the listed company was CNY 13,484,315,902.01, a decrease of 0.71% from the previous year[23] - Basic earnings per share for the first half of 2021 was CNY 0.05, an increase of 66.67% year-on-year[24] - The weighted average return on net assets increased by 0.34 percentage points to 0.83%[24] - The total revenue for the reporting period was 52,131,287.81 RMB, reflecting a year-on-year increase of 9.31%[52] - The total cost of thermal power was 50,041,328.74 RMB, which is a decrease of 1.96% compared to the previous year[54] - The securities business reported total operating revenue of CNY 502 million, a decrease of 32.98% year-on-year, while net profit increased by 0.27% to CNY 22 million[80] Operational Metrics - The company's total installed capacity remains at 99 MW, unchanged from the previous year[33] - Total electricity generation increased by 1.79% to 24,453,000 MWh compared to 24,023,000 MWh in the same period last year[44] - The electricity sales volume rose by 1.91% to 14,477,000 MWh, up from 14,206,000 MWh year-on-year[47] - The company's heating supply decreased by 12.82% to 830,000 GJ due to fewer heating days this year compared to the previous year[45] - The steam sales volume increased by 4.23% to 15.03 million tons, driven by higher demand from steam users[46] - The company's power plant's electricity consumption rate improved to 5.72%, an increase of 0.35% from the previous year[43] - The company currently operates 23 boilers, a decrease of 3 units from the previous year due to the retirement of older equipment[40] - The company has maintained a stable number of 9 generating units, with no changes from the previous year[36] Market and Regulatory Environment - The company faces increasing heating costs due to rising coal prices and environmental regulations, impacting profitability in the heating sector[32] - The new regulations from the People's Bank of China aim to enhance liquidity management for securities companies, presenting both opportunities and challenges[61] - The recent policy changes in the heating sector may increase the company's heating costs, impacting profitability[55] - From March 1, 2021, the company is no longer allowed to charge construction and supporting fees for centralized heating, directly impacting the revenue from network connection fees[120] - The provincial government plans to increase the heating temperature from 18°C to 20°C, which will raise the company's heating costs and affect profitability[120] Risk Management - The company implemented a comprehensive risk management system and improved internal control measures to enhance risk prevention capabilities[85] - The company has established a major risk reporting mechanism to effectively control significant risks identified during the risk assessment process[85] - The company plans to continue enhancing its internal control management capabilities and risk management systems in line with regulatory requirements[85] - The company has established a dual credit risk management mechanism to mitigate credit risks associated with derivative and financing businesses, including customer credit ratings and collateral management[121] - A comprehensive liquidity risk management system is in place, including capital management, stress testing, and emergency liquidity plans to address potential liquidity needs[121] - Market risk is managed through a limit management system, focusing on stock price and interest rate risks, with daily monitoring of risk limits[124] Environmental Compliance - The company operates three 130t/h coal-fired steam boilers, which have undergone dust removal, desulfurization, and denitrification modifications, ensuring compliance with ultra-low emission standards for nitrogen oxides, sulfur dioxide, and particulate matter[145] - The annual emission limits as per the pollution discharge permit are set at 290.76 tons/year for particulate matter, 1213.05 tons/year for sulfur dioxide, and 1538.99 tons/year for nitrogen oxides[138] - The company has six online monitoring emission outlets, with a total of 6 monitoring points across different plants, ensuring continuous emission tracking[139] - The company has implemented SCR denitrification upgrades in 2018, enhancing its ability to meet stringent emission requirements[145] - The company has established a robust environmental protection framework, including advanced pollution control facilities across its operations[145] - The company has received environmental impact assessment approvals for multiple projects, including the construction of new boilers and upgrades to existing systems[156] - The company has a commitment to environmental responsibility, with quarterly monitoring of emissions data conducted by a third-party agency[162] Community and Social Responsibility - Jianghai Securities has successfully helped four regions achieve poverty alleviation, with ongoing support for local businesses, including purchasing 700 boxes of local products worth 84,000 CNY[169] - Jianghai Securities is committed to energy conservation, advising employees to set air conditioning above 26°C and to turn off equipment when not in use[167] - The company promotes a paperless operation strategy, encouraging double-sided printing and the use of an OA office system to minimize paper consumption[167] - Jianghai Securities is actively involved in financing support for new agricultural entities through various debt instruments to enhance direct financing capabilities[172] Legal and Compliance Issues - Jianghai Securities reported a litigation amount of 40 million RMB related to a real estate contract dispute, with a judgment to return this amount plus interest[179] - The company is involved in a contract dispute with Shenzhen Xinlian Technology Co., with a litigation amount of 100 million RMB, and a first-instance judgment requiring repayment of this amount plus interest and penalties[179] - Jianghai Securities has ongoing arbitration disputes with multiple parties regarding stock pledge business, with various announcements made from 2018 to 2021[178] - The company has received a notice regarding the debt extension arrangement from Yiyang Group, which has successfully undergone bankruptcy reorganization, with a debt amount of 60,241,600 RMB to be repaid over five years[178] - Jianghai Securities Co., Ltd. is involved in multiple legal disputes, with amounts involved including 15,000 million and 56,000 million related to arbitration cases[183]

2021 年第一季度报告 公司代码：600864 公司简称：哈投股份 哈尔滨哈投投资股份有限公司 2021 年第一季度报告 1 / 22 2021 年第一季度报告 一、 重要提示............................................................................................................. 3 二、 公司基本情况...................................................................................................... 3 三、 重要事项............................................................................................................. 4 四、 附录......................................................................... ...

Financial Performance - Total operating income for 2020 was approximately RMB 2,957 million, a slight increase of 0.12% compared to 2019[27] - Net profit attributable to shareholders of the listed company decreased by 23.30% to approximately RMB 188 million in 2020[27] - Basic earnings per share decreased by 25.00% to CNY 0.09 in 2020 from CNY 0.12 in 2019[28] - The company reported a net profit attributable to shareholders after deducting non-recurring gains and losses of approximately RMB -60.13 million in 2020, a significant decrease of 131.82% compared to 2019[27] - The net profit attributable to shareholders was CNY -27,123,784.69 in Q4 2020, a significant decline compared to CNY 150,301,259.28 in Q3 2020[31] - The company reported a net profit of CNY -254,571,207.04 after deducting non-recurring gains and losses in Q4 2020[31] - The weighted average return on equity (ROE) was 1.40% in 2020, down from 1.90% in 2019[28] - The company reported a net profit of CNY 1.58 billion in 2020, with a market share of 0.84‰, down from 1.51‰ in 2019[59] Dividend and Shareholder Returns - The cash dividend distribution plan for 2020 proposes a cash dividend of RMB 0.30 per 10 shares, totaling approximately RMB 62.42 million, representing a cash dividend ratio of 33.11%[6] - The company maintained its cash dividend policy without adjustments during the reporting period, adhering to the established profit distribution plan[199] Assets and Liabilities - The company's total assets decreased by 17.61% to approximately RMB 34,120 million at the end of 2020 compared to the end of 2019[27] - The net assets attributable to shareholders of the listed company increased by 1.73% to approximately RMB 13,581 million at the end of 2020[27] - The company's total assets at the end of the period were 34.14 billion yuan, with trading financial assets accounting for 31.46%[126] - Short-term borrowings increased by 137.48% year-on-year, reaching 1.63 billion yuan, due to the issuance of short-term income certificates by the subsidiary Jianghai Securities[127] Cash Flow - The net cash flow from operating activities for 2020 was approximately RMB 3,425 million, a decrease of 0.36% compared to 2019[27] - Net cash flow from operating activities decreased by 0.36% year-on-year, mainly due to net cash outflow from repurchase activities and reduced cash received from securities trading[123] - Net cash flow from investing activities increased, primarily due to cash inflows from the disposal of subsidiaries and other business units[123] - Net cash flow from financing activities increased, mainly due to higher cash outflows for debt repayment[123] Operational Performance - The company achieved a power generation of 40,659 million kWh, an increase of 1,131 million kWh or 2.86% year-on-year[72] - The total sales of electricity reached 23,597 million kWh, up by 840 million kWh or 3.69% compared to the previous year[72] - The revenue from the thermal power business was 1,310.03 million yuan, a growth of 3.7% year-on-year, while the main business cost increased by 5.76% to 1,082.65 million yuan[72] - The total profit of the thermal power segment was 67.36 million yuan, reflecting an increase of 8.67% year-on-year, but the net profit decreased by 3.90% to 57.44 million yuan[72] Securities and Investment Banking - The company operates in both thermal power and securities businesses, with a focus on maximizing economic benefits while fulfilling government heating obligations[36] - The company’s securities subsidiary, Jianghai Securities, has expanded its operations to include 76 branches, enhancing its market presence[37] - The investment banking business achieved a net income of 406 million yuan, highlighting its leading role in the market[43] - Jianghai Securities reported total operating revenue of 1.864 billion yuan, a year-on-year increase of 19.64%, while net profit decreased by 29.03% to 132 million yuan[74] Risk Management - The risk coverage ratio improved to 211.57% at the end of 2020, up from 193.69% at the end of 2019[11] - The liquidity coverage ratio improved to 300.18% at the end of 2020, compared to 227.37% at the end of 2019[11] - The company has established a dual credit risk management mechanism to mitigate credit risks associated with derivatives, margin financing, and bond trading[193] - The liquidity risk management system includes a unified management of customer and proprietary funds, with regular stress testing and sensitivity analysis to ensure liquidity needs are met at reasonable costs[193] Environmental and Regulatory Compliance - The company is committed to complying with environmental regulations, investing in pollution control measures, and adapting to government policies on coal usage[45] - The company has actively responded to government environmental requirements, investing in upgrades to meet ultra-low emission standards[154] - The company is investing in environmental upgrades to meet stricter emission standards, impacting operational costs and overall profitability[171] Strategic Initiatives - The company is focusing on wealth management transformation while enhancing customer service and business processing through internet integration[40] - The company aims to improve its financing and securities lending business scale and market share while managing dynamic risks[40] - The company plans to enhance product design capabilities and provide sustainable financial products to improve market competitiveness[107] - The company is exploring new financing channels through the expansion of investment banking services, including corporate bonds and asset securitization[173]

证券代码：600864 证券简称：哈投股份 公告编号：临2020-071 哈尔滨哈投投资股份有限公司 关于参加投资者网上集体接待日活动的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 为进一步加强与投资者的互动交流,公司将参加由黑龙江省上市公 司协会、深圳市全景网络有限公司共同举办的"黑龙江省上市公司2020 年度投资者网上集体接待日"活动，现将有关事项公告如下： 本次集体接待日活动将通过深圳市全景网络有限公司提供的互联网 平台举行，投资者可以登录"全景·路演天下"网站（http://rs.p5w.net） 参与公司本次投资者网上集体接待日活动，时间为2020年11月12日（周 四）14:00至16:30。 届时公司副总经理、总会计师贾淑莉女士，副总经理、董事会秘书 张名佳先生将通过网络在线问答互动的形式，与投资者就公司治理、发 展经营情况、融资情况和可持续发展等投资者关注的问题进行交流。期 间，公司高管将全程在线，实时回答投资者的提问。欢迎广大投资者积 极参与。 特此公告。 哈尔滨哈投投资股份有限公司 2020 ...

Financial Performance - Net profit attributable to shareholders decreased by 63.68% to CNY 215,626,385.50 year-on-year[10] - Operating revenue for the first nine months was CNY 2,078,252,201.41, a decrease of 2.03% compared to the same period last year[10] - Basic earnings per share fell by 64.29% to CNY 0.10 compared to the same period last year[10] - The weighted average return on equity decreased by 2.94 percentage points to 1.63%[10] - The company reported a net profit of ¥834,510,411.21 for the first three quarters of 2020, compared to ¥795,709,074.32 for the same period in 2019, indicating a growth of about 4.9%[44] - The total profit for the first three quarters of 2020 was 194,214,906.34, down from 581,982,036.51 in the same period of 2019, indicating a decrease of about 66.7%[50] - The net profit for Q3 2020 was 139,245,745.19, compared to 78,653,471.87 in Q3 2019, representing an increase of approximately 77.2%[50] Cash Flow - Net cash flow from operating activities dropped by 76.18% to CNY 577,894,187.93 year-on-year[10] - The total cash flow from financing activities decreased by 110.58%, resulting in a net outflow of approximately RMB 917.64 million[22] - Cash received from sales of goods and services for the first three quarters of 2020 was CNY 482,439,372.74, compared to CNY 370,452,274.14 in the same period of 2019, reflecting a growth of 30.2%[56] - The net increase in cash and cash equivalents for the first three quarters of 2020 was -¥383,473,254.15, compared to an increase of ¥1,916,042,917.20 in 2019[62] - Cash paid for operating activities totaled ¥1,202,518,111.02 in 2020, significantly lower than ¥2,632,647,642.67 in 2019, indicating improved cash management[60] Assets and Liabilities - Total assets decreased by 10.73% to CNY 36,968,752,514.49 compared to the end of the previous year[10] - The company's total current assets were CNY 31,911,299,429.90 as of September 30, 2020, down from CNY 35,043,846,215.95 at the end of 2019, indicating a decrease of about 8.1%[36] - The total liabilities decreased to CNY 23,709,671,485.62 from CNY 27,908,107,198.97, a reduction of approximately 15.1%[38] - The company's total liabilities to equity ratio improved to approximately 1.80 as of September 30, 2020, compared to 2.07 at the end of 2019, indicating a reduction in financial leverage[38] - Total liabilities amounted to approximately ¥27.91 billion, with non-current liabilities totaling around ¥4.33 billion[69] Shareholder Information - The total number of shareholders at the end of the reporting period was 58,709[12] - The largest shareholder, Harbin Investment Group Co., Ltd., holds 36.96% of the shares[12] Operational Metrics - Operating income increased by 4.88% to CNY 834,510,411.21, driven by an increase in heating area and bulk heating sales[18] - Total operating costs for the first nine months of 2020 were CNY 2,238,445,689.42, a decrease of 3.97% compared to the previous year[18] - The company reported a significant increase in operating costs, which rose to CNY 19,897,576.40 in Q3 2020 from CNY 17,667,350.73 in Q3 2019, an increase of 13.8%[54] Investment and Capital Expenditures - Capital expenditures for various projects totaled approximately RMB 202.34 million, with significant progress reported in ongoing projects[29] - The company plans to continue its investment in new projects, including upgrades to existing facilities and new construction initiatives[29] Other Financial Metrics - The company reported non-recurring gains and losses totaling CNY 4,659,170.44 for the current period[12] - The company reported a significant increase in credit impairment losses by 105.56%, amounting to approximately RMB 128.55 million[19] - The fair value changes in financial assets resulted in a decrease of 48.26%, leading to a loss of approximately RMB 277.71 million[19]

Financial Performance - Total operating revenue for the first half of 2020 was CNY 1,592,343,603.07, a decrease of 2.40% compared to CNY 1,631,566,850.57 in the same period last year[19] - Operating income increased by 7.68% to CNY 758,967,295.48 from CNY 704,845,909.03 year-on-year[19] - Net profit attributable to shareholders was CNY 65,325,126.22, down 87.14% from CNY 508,092,103.44 in the previous year[19] - Net profit after deducting non-recurring gains and losses was CNY 48,798,235.67, a decline of 89.63% compared to CNY 470,736,384.51 last year[19] - Net cash flow from operating activities decreased by 54.63% to CNY 1,058,217,632.93 from CNY 2,332,216,893.79 year-on-year[19] - Basic earnings per share for the first half of 2020 were CNY 0.03, down 87.50% from CNY 0.24 in the same period last year[20] - The weighted average return on net assets decreased by 3.43 percentage points to 0.49% from 3.92% year-on-year[20] Assets and Liabilities - Net assets attributable to shareholders at the end of the reporting period were CNY 13,129,894,462.40, a decrease of 1.65% from CNY 13,349,952,735.39 at the end of the previous year[19] - Total assets increased by 5.06% to CNY 43,510,169,337.44 from CNY 41,412,931,962.24 year-on-year[19] - The company's total assets as of June 30, 2020, amounted to 80,300 million yuan, reflecting a year-on-year growth of 13.10% from 71,000 million yuan in the previous year[63] - The company's net assets reached 20,900 million yuan, up 6.63% from 19,600 million yuan in the first half of 2019[63] - The company’s cash and cash equivalents increased to ¥9,758,076,593.80, accounting for 22.43% of total assets, a 40.60% increase year-over-year[102] - The company’s total liabilities decreased significantly, with accounts payable down 49.65% to ¥215,533,693.63[102] Business Operations - The main business operations include thermal power generation and securities, with thermal power being a key focus on electricity and heating supply[25] - The securities business achieved a bond underwriting amount of RMB 25.84 billion, completing 89 bond issues during the reporting period[31] - The thermal power business profits are driven by expanding heating areas and increasing heating fees, while managing costs effectively[32] - The company operates 77 branches, including 20 subsidiaries and 57 business units, primarily located in economically developed cities[29] - The company’s total electricity generation reached 24,023 million kWh, an increase of 6.89% compared to the same period last year[46] - The total sales volume of electricity was 14,206 million kWh, reflecting an increase of 11.55% year-on-year[46] - Revenue from electricity sales amounted to 47,691,714.45 RMB, representing a year-on-year increase of 16.82%[46] Challenges and Risks - The company faced significant risks as outlined in the report, particularly in the section discussing operational conditions and potential future challenges[4] - The thermal power industry faces challenges due to rising coal prices and stringent environmental regulations, impacting profitability[38] - The company faces risks from high coal prices, which significantly impact profitability due to their substantial share in production costs[120] - The company is investing in environmental upgrades to meet stricter emission standards, increasing operational costs[120] - The company is addressing risks related to aging infrastructure and the need for new talent to manage rising labor costs[124] Strategic Initiatives - The company has established a clear strategic direction focusing on brokerage, investment banking, and asset management, enhancing operational efficiency and optimizing revenue structure[69] - The company is committed to supporting the economy and pandemic response through various financing initiatives, including the issuance of asset-backed securities[84] - The company plans to focus on expanding its market presence and enhancing its product offerings in the upcoming quarters[100] - The company is actively enhancing its professional service capabilities by integrating various business lines and focusing on customer-centric service models[72] Environmental and Social Responsibility - The company has established a total annual emission limit of 290.76 tons for particulate matter, 1213.05 tons for sulfur dioxide, and 1538.99 tons for nitrogen oxides[177] - The company operates three 130t/h steam boilers and has implemented multiple environmental upgrades to meet ultra-low emission standards for particulate matter[183] - The company has successfully completed the first and second phases of desulfurization and denitrification system upgrades for its 70MW hot water boilers[183] - The company has implemented various poverty alleviation strategies, including industrial, public welfare, consumption, intellectual, and financial poverty alleviation[166] - The company has helped 4 registered impoverished individuals achieve poverty alleviation during the reporting period[167] - The company is committed to enhancing public service levels in impoverished areas through various projects, focusing on education, healthcare, and social security[172] Compliance and Governance - The company has improved its governance structure, ensuring independent and stable development through a well-defined decision-making and supervisory mechanism[68] - The company has implemented a series of rectification measures following regulatory inspections, focusing on enhancing management and compliance[143] - The company has received administrative regulatory measures from the China Securities Regulatory Commission, including a six-month suspension of qualifications for certain business areas[143] - The company is focusing on enhancing internal control systems and risk management capabilities to ensure compliance and operational stability[86]

2020 年第一季度报告 公司代码：600864 公司简称：哈投股份 哈尔滨哈投投资股份有限公司 2020 年第一季度报告 1 / 26 2020 年第一季度报告 一、 二、 11Í 四、 目录 | --- | |----------------| | | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 26 2020 年第一季度报告 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 未出席董事情况 未出席董事姓名 未出席董事职务 未出席原因的说明 被委托人姓名 赵洪波 董事长 其他公务活动 胡晓萍 1.3 公司负责人赵洪波、主管会计工作负责人胡晓萍及会计机构负责人（会计主管人员）贾淑莉 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |---------------------------------- ...

Financial Performance - Total operating revenue for 2019 was approximately RMB 2,953.60 million, an increase of 7.04% compared to 2018[23] - Net profit attributable to shareholders of the listed company reached RMB 245.77 million, a significant recovery from a loss of RMB 142.06 million in 2018[23] - The net cash flow from operating activities was RMB 3,437.29 million, reflecting an increase of 11.18% year-on-year[23] - Basic earnings per share for 2019 was CNY 0.12, a significant improvement from a loss of CNY 0.07 in 2018[24] - The weighted average return on equity increased by 2.99 percentage points to 1.90% in 2019 from -1.09% in 2018[24] - Total revenue for the first quarter of 2019 was CNY 476,487,137.31, with a net profit of CNY 467,903,810.74[29] - The company achieved total revenue of 1.558 billion yuan, a year-on-year increase of 23.73%[75] - Total profit reached 213 million yuan, representing a year-on-year growth of 212.64%[75] Assets and Liabilities - The company's total assets as of the end of 2019 were RMB 41,412.93 million, up 6.43% from the previous year[23] - The net assets attributable to shareholders of the listed company increased to RMB 13,349.95 million, representing a growth of 6.15% compared to 2018[23] - The total assets of the company as of December 31, 2019, amounted to 35.216 billion yuan, with liabilities of 25.309 billion yuan and owner's equity of 9.908 billion yuan[168] - The company's non-current liabilities due within one year surged to ¥7,752,468,924.21, representing 18.72% of total assets, a dramatic increase of 4,080.58%[130] Business Segments - The main business includes thermal power and securities, with a focus on power generation and supply, as well as various securities services[36] - The company's thermal power business generated a total revenue of CNY 1,263.25 million, representing a year-on-year growth of 5.72%, while the main business cost decreased by 0.69%[72] - The investment banking business achieved a net income of 392 million yuan, marking an increase of nearly 20% compared to the previous year[43] - The securities business generated revenue of CNY 15.58 billion, reflecting a year-on-year growth of 23.73%, while operating costs decreased by 6.58%[99] Operational Efficiency - The company is focusing on cost control and management to improve operational efficiency in its heating business, which is subject to government pricing regulations[43] - The overall profitability of the heating industry is low due to government regulations and rising operational costs, particularly in the northeastern region[44] - The company has established a clear strategic direction focusing on brokerage, investment banking, and asset management, enhancing operational efficiency and revenue structure[65] Risk Management - The company faced potential risks in future development, as outlined in the report's risk section[10] - The company emphasizes compliance and risk control, ensuring all business operations are conducted within regulatory limits[68] - The company has established a dual credit risk management system to mitigate credit risks associated with derivative and financing activities[195] - The company implements a liquidity risk management framework, including stress testing and emergency plans to ensure timely liquidity needs are met[195] Environmental and Regulatory Compliance - The company invested in upgrading environmental facilities to meet stricter emission standards, reflecting its commitment to sustainability[71] - Environmental protection policies require the company to upgrade its facilities to meet ultra-low emission standards by 2021, necessitating further capital investment[194] - The company plans to invest significantly in upgrading environmental protection facilities to comply with new regulations by 2020[174] Shareholder Returns - The cash dividend distribution plan proposed a cash dividend of RMB 0.36 per 10 shares, totaling approximately RMB 74.90 million, with a cash dividend ratio of 30.47%[6] - The company repurchased and canceled 27,943,242 shares, reducing total share capital to 2,080,570,520 shares[27] Market Position and Strategy - Jianghai Securities is positioned as a major local heat and power generation enterprise in Harbin, with government-approved exclusive heating areas[49] - The company aims to enhance its comprehensive service capabilities by integrating brokerage, asset management, and investment consulting through three subsidiaries[42] - The company is exploring opportunities in other potential industries while focusing on its core public utility and financial services sectors[182] Future Outlook - For 2020, the company plans to complete electricity sales of 28,700 million kWh and heat sales of 1,660 million GJ, with an estimated investment of 250 million CNY for environmental upgrades[183] - The company plans to enhance product design capabilities and control operational costs to improve competitiveness in underperforming regions like Shandong and Tianjin[103]

2019 年第三季度报告 公司代码：600864 公司简称：哈投股份 哈尔滨哈投投资股份有限公司 2019 年第三季度报告 1 / 30 2019 年第三季度报告 一、 重要提示 二、 公司基本情况. 11[ 重要事项 四、 附录 目录 2 / 30 2019 年第三季度报告 单位：元 币种：人民币 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。 1.3 公司负责人赵洪波、主管会计工作负责人胡晓萍及会计机构负责人（会计主管人员）贾淑莉 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |-----------------------------------------------|------------------------------|------------------------------------| ...

Financial Performance - Total operating revenue for the first half of 2019 was CNY 1,631,566,850.57, an increase of 11.31% compared to CNY 1,465,844,245.73 in the same period last year[23]. - Net profit attributable to shareholders of the listed company reached CNY 508,092,103.44, a significant recovery from a loss of CNY 114,861,203.83 in the previous year[23]. - Net cash flow from operating activities was CNY 2,324,877,456.89, compared to a negative cash flow of CNY -1,456,393,980.73 in the same period last year[23]. - Total assets at the end of the reporting period were CNY 41,413,770,420.76, reflecting a 6.44% increase from CNY 38,909,170,131.48 at the end of the previous year[23]. - Net assets attributable to shareholders of the listed company increased by 6.44% to CNY 13,386,666,585.54 from CNY 12,576,163,881.65 at the end of the previous year[23]. - Basic earnings per share for the first half of 2019 were CNY 0.24, a recovery from a loss of CNY -0.05 in the same period last year[24]. - The weighted average return on net assets was 3.92%, compared to -0.86% in the previous year[24]. - The company achieved a total profit of CNY 659.02 million and a net profit attributable to shareholders of CNY 508.09 million in the first half of 2019[80]. - As of June 30, 2019, the company's total assets amounted to CNY 41.41 billion, with net assets attributable to shareholders of CNY 13.39 billion[80]. Business Segments - The company’s main business segments include thermal power and securities, with thermal power focusing on electricity and heating supply, and securities covering a wide range of traditional and innovative financial services[32][33]. - The securities business completed bond underwriting for 10 issues, with a total underwriting amount of ¥7.342 billion, contributing to revenue growth[38]. - The thermal power industry is characterized by low profit margins due to government-regulated pricing, but the company is focused on cost control and efficiency improvements to maintain profitability[41]. - The company's thermal power business achieved operating revenue of 704.81 million yuan, a decrease of 0.24% year-on-year, while total profit increased by 68.75% to 70.79 million yuan[81]. - Securities business revenue totaled CNY 926,720,941.54, reflecting a year-on-year increase of 22.18%[102]. Revenue and Costs - The company's total revenue for the first half of 2019 was approximately 40.83 million RMB, a 9.28% increase from the previous year[54]. - The company's total costs decreased by 12.26% to approximately 46.84 million RMB compared to the same period last year[54]. - Total operating costs rose by 7.43% to $1,741,492,807.98, up from $1,620,982,620.96[93]. - Investment income dropped by 48.62% to $213,709,677.38 from $415,899,081.97[93]. - The gross profit margin for the thermal power business was 22.23%, with a slight increase of 0.39% compared to the previous year[102]. Operational Highlights - In the first half of 2019, the company's electricity generation increased by 3.19% to 22,475 million kWh compared to the same period last year[63]. - The company's electricity sales volume rose by 8.40% to 12,735 million kWh year-on-year[63]. - The average on-grid electricity price (excluding tax) increased by 0.53% to 301.9 RMB/MWh compared to the previous year[54]. - The company's heating supply area reached 31.8 million square meters by the end of 2018, accounting for 10.4% of the total heating area in Harbin[44]. - The company's heating supply volume decreased by 16.12% to 770,000 GJ in the first half of 2019 compared to the same period last year[66]. Investment and Expansion - The company plans to repurchase 27,943,242 shares at a total price of CNY 1 as part of a compensation plan, reducing the total share capital to 2,080,570,520 shares[27]. - The investment strategy has shifted from a regional focus to a national presence, with 77 branches established across various provinces, enhancing market reach[33]. - The company plans to strengthen fuel management and control coal costs while enhancing various payment methods for heat fee collection[82]. - The company plans to expand its market presence and enhance product offerings in the upcoming quarters[102]. - The company raised funds of 9.9758 million RMB through a targeted issuance to support the expansion of its main business and improve market share[173]. Risk Management - The company faces risks related to coal price fluctuations, which significantly impact profitability, as coal costs constitute a large portion of total production costs[127]. - Environmental policy changes pose a risk, as the company must upgrade its facilities to meet stricter emission standards by 2021, requiring additional capital investment[128]. - The company has established a dual credit risk management mechanism, focusing on derivatives, margin financing, and bond trading, to mitigate credit risk[132]. - The liquidity risk management system includes a unified management of customer and proprietary funds, with effective stress testing and emergency plans in place[132]. - Market risk is primarily managed through a dynamic risk control indicator monitoring system, with daily monitoring of market risk limits[133]. Legal and Compliance - The company is involved in significant litigation, including a lawsuit with Jianghai Securities regarding a property contract dispute involving RMB 40 million, which has been adjudicated[149]. - The company has ongoing litigation related to heating station ownership disputes, with a judgment requiring payment of RMB 186.7 thousand[151]. - The company has a commitment to provide accurate and complete information regarding its operations and financial status, ensuring transparency[142]. - The company has committed to avoiding conflicts of interest and ensuring compliance with regulations regarding related party transactions[140]. - The company has no significant changes in accounting firms or non-standard audit reports during the reporting period[147]. Social Responsibility - The company signed a precise assistance cooperation agreement with Yanshou County, a national-level poverty-stricken county, to support poverty alleviation efforts[168]. - Jianghai Securities contributed to the economic development of relatively slow-growing villages through industry assistance, aiming to increase farmers' income[168]. - A total of 83.24 million RMB was allocated for poverty alleviation efforts, with 2 individuals successfully lifted out of poverty[170]. - The company invested 25 million RMB to improve educational resources in impoverished areas[173]. - The company contributed 2.98 million RMB to purchase agricultural products, supporting local farmers and promoting consumption poverty alleviation[173]. Environmental Initiatives - The total annual emissions for particulate matter, sulfur dioxide, and nitrogen oxides are 246.23 tons, 1649.9 tons, and 2899.42 tons, respectively[179]. - The company is actively upgrading its pollution control facilities to comply with environmental regulations and improve operational efficiency[185]. - The company has received environmental impact assessment approvals for multiple projects, including the 4130t circulating fluidized bed steam boiler replacement project[193]. - The company has established emergency response plans for environmental incidents, which have been filed with the Harbin Environmental Protection Bureau[200]. - The company operates two 75t/h vertical cyclone furnaces, which underwent desulfurization and denitrification modifications in 2014 and 2016, and are equipped with bag filters and SNCR denitrification facilities[188].