甘肃电投能源发展股份有限公司 2017 年第三季度报告正文 | | | 甘肃电投能源发展股份有限公司 2017 年第三季度报告正文 第一节 重要提示 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。 2、所有董事均已出席了审议本次季报的董事会会议。 3、公司负责人李宁平、主管会计工作负责人张建红及会计机构负责人(会计主管人员)张莉声明：保 证季度报告中财务报表的真实、准确、完整。 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 19,116,358,144.53 | 18,930,407,553.82 | | 0.98% | | 归属于上市公司股东的净资产（元） | 5,516,560,315.14 | 4,997,450,482.81 | | 10.39% | | | 本报告期 | 本报告 ...

Financial Performance - The company's operating revenue for the first half of 2017 was ¥748,047,120.26, representing a 15.27% increase compared to ¥648,936,731.29 in the same period last year[17]. - The net profit attributable to shareholders was a loss of ¥11,606,996.18, an improvement of 92.85% from a loss of ¥162,414,542.86 in the previous year[17]. - The net cash flow from operating activities increased by 11.06% to ¥359,807,197.43, up from ¥323,990,042.97[17]. - The basic earnings per share were -¥0.0120, showing a 93.44% improvement from -¥0.1829 in the previous year[17]. - The weighted average return on net assets was -0.23%, an improvement of 3.79% from -4.02% in the previous year[17]. - The company achieved operating revenue of CNY 748.05 million, a year-on-year increase of 15.27% due to increased electricity sales[29]. - The net profit attributable to shareholders was a loss of CNY 0.12 million, but this represented a 92.85% reduction in losses compared to the previous year[29]. - The company reported a total comprehensive income of CNY -19,422,524.00 for the current period, indicating a loss compared to the previous period's income[166]. Assets and Liabilities - The total assets at the end of the reporting period were ¥19,206,349,039.55, a 1.46% increase from ¥18,930,407,553.82 at the end of the previous year[17]. - Total assets increased by 1.46% year-on-year to CNY 19.21 billion, while equity attributable to shareholders rose by 5.42% to CNY 5.27 billion[29]. - The total assets of the company amounted to ¥7,556,286,841.82, up from ¥7,345,485,779.87, representing an increase of 2.9%[142]. - The total liabilities at the end of the reporting period were CNY 4,112,490,073.14, which indicates a rise compared to the previous year[159]. - The company's total liabilities decreased to ¥720,514,525.29 from ¥781,278,980.52, a reduction of approximately 7.8%[142]. - The equity attributable to shareholders of the parent company rose to CNY 5,268,087,811.94 from CNY 4,997,450,482.81, reflecting an increase of approximately 5.4%[136]. Cash Flow - Cash and cash equivalents increased by 244.06% to CNY 402.66 million, primarily due to increased electricity sales and performance compensation received[34]. - The net cash flow from operating activities was CNY 359,807,197.43, an increase from CNY 323,990,042.97 in the previous period, reflecting a growth of approximately 11%[147]. - The total cash and cash equivalents at the end of the period reached CNY 921,351,987.53, up from CNY 709,525,366.01 in the previous period, marking an increase of approximately 30%[148]. - The company received CNY 610,000,000.00 in borrowings during the period, compared to CNY 250,000,000.00 in the previous period, indicating a substantial increase in financing[147]. Investments and Projects - The company is actively investing in new projects, including electric vehicle charging stations and a data operation company[30]. - The company has engaged in debt restructuring, resulting in a gain of ¥14,209,123.90 from the restructuring of Jiuhui Company[21]. - The company reported a total investment during the reporting period of ¥430,234,701.26, a decrease of 8.73% compared to ¥471,384,409.93 in the same period last year[44]. - Gansu Electric Power Investment is investing CNY 200 million in new technology development for renewable energy sources in 2017[90]. Market and Expansion - The company plans to expand its market presence by entering two new provinces by the end of 2018, aiming for a 20% increase in customer base[90]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its service offerings[160]. - The company aims to recover from the current losses by focusing on core business areas and optimizing resource allocation[160]. Risks and Challenges - The company faces risks related to natural factors, monetary policy changes, and a slowdown in electricity consumption growth[4]. - The company is facing risks from natural factors affecting power generation, high asset-liability ratios, and slowing electricity demand growth[53]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[5]. - The company has committed to a shareholder return plan, aiming to distribute CNY 100 million in dividends for the fiscal year 2017[90]. - The total number of shares after the recent changes is 971,126,200, with 74.35% being unrestricted shares[95]. Compliance and Governance - The company has not implemented any stock incentive plans or employee shareholding plans during the reporting period[64]. - There were no significant litigation or arbitration matters affecting the company during the reporting period[61]. - The company has not reported any major environmental protection issues[86]. Financial Ratios - The debt-to-equity ratio was 1.5, indicating a stable financial structure for future investments[90]. - The liquidity ratio increased to 106.64%, up by 41.66% compared to the previous year[124]. - The debt-to-asset ratio decreased to 71.77%, a reduction of 1.01% from the previous year[124]. - The EBITDA interest coverage ratio improved to 2.14, reflecting a 37.18% increase year-on-year[124].

Financial Performance - The company's operating revenue for Q1 2017 was ¥233,631,466.22, representing a 2.46% increase compared to ¥228,013,992.44 in the same period last year[6] - The net profit attributable to shareholders was -¥137,382,404.39, an improvement of 28.32% from -¥191,652,057.72 year-on-year[6] - The company's net profit for Q1 2017 was -142,841,094.19 CNY, an improvement of 27.88% compared to -198,073,841.00 CNY in the same period last year[16] - Operating revenue increased by 27.87% to 313,741,008.18 CNY from 245,366,920.71 CNY year-on-year[17] - Investment income rose by 38.19% to 3,465,898.25 CNY from 2,508,053.32 CNY year-on-year[16] - The basic earnings per share improved by 34.43% to -0.1415 from -0.2158 year-on-year[16] Cash Flow and Assets - The net cash flow from operating activities increased by 41.12% to ¥211,915,535.14, up from ¥150,164,913.52 in the previous year[6] - The company's cash and cash equivalents net increase was -54,003,408.50 CNY, a decline of 103.80% compared to an increase of 1,421,408,845.46 CNY in the same period last year[17] - The total assets at the end of the reporting period were ¥18,655,522,404.96, a decrease of 1.45% from ¥18,930,407,553.82 at the end of the previous year[6] - The net assets attributable to shareholders decreased by 2.75% to ¥4,860,068,078.42 from ¥4,997,450,482.81[6] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 68,929, with the largest shareholder holding 62.54% of the shares[10] Liabilities and Expenses - The company's total liabilities decreased by 14.16% to 897,800,000.00 CNY compared to 1,045,900,000.00 CNY at the end of the previous year[16] - The company's management expenses decreased by 17.61% to 4,464,203.40 CNY from 5,418,659.57 CNY year-on-year[16] - The financial expenses decreased by 14.80% to 139,909,746.67 CNY from 164,217,078.57 CNY year-on-year due to a reduction in loan amounts[16] Accounts and Other Assets - Accounts receivable increased by 16.99% to ¥416,507,684.03, primarily due to seasonal increases in electricity fee settlements[13] - Other current assets rose by 29.88% to ¥78,452,187.93, attributed to reclassification of certain tax deductions[13] - Prepayments decreased by 25.56% to ¥10,109,814.95, as initial prepayments for electricity were settled during the reporting period[13] Profit Distribution - The company's unallocated profits decreased by 25.61% to 399,071,170.01 CNY from 536,453,574.40 CNY year-on-year, primarily due to operating losses[16] Investment Activities - The company did not engage in any securities or derivative investments during the reporting period[20][21]

Financial Performance - The company's operating revenue for 2016 was approximately ¥1.59 billion, a decrease of 15.36% compared to ¥1.88 billion in 2015[16]. - The net profit attributable to shareholders for 2016 was a loss of approximately ¥106.74 million, representing a decline of 529.90% from a profit of ¥24.83 million in 2015[16]. - The net cash flow from operating activities decreased by 27.86% to approximately ¥1.03 billion in 2016, down from ¥1.42 billion in 2015[16]. - Basic earnings per share for 2016 were -¥0.1129, a decrease of 471.38% compared to ¥0.0304 in 2015[16]. - The company reported a net profit attributable to shareholders after deducting non-recurring gains and losses of approximately -¥77.03 million in 2016, a decline of 334.46% from ¥32.85 million in 2015[16]. - Total assets decreased by 3.32% to CNY 18,930,407,553.82 from CNY 19,580,568,413.57 in 2015[18]. - Operating revenue fell by 15.36% to CNY 1,591,536,891.26 compared to CNY 1,880,428,765.77 in 2015[18]. - Net profit attributable to shareholders decreased by 529.90% to a loss of CNY 106,740,517.19 from a profit of CNY 32,443,274.06 in 2015[18]. - Basic earnings per share dropped by 471.38% to -CNY 0.1129 from CNY 0.0449 in 2015[18]. - Cash flow from operating activities decreased by 27.86% to CNY 1,027,839,219.74 from CNY 1,424,725,284.63 in 2015[18]. Dividend Policy - The company plans to distribute a cash dividend of ¥0.20 per 10 shares to all shareholders based on the total share capital as of December 31, 2016[6]. - The proposed cash dividend for 2016 is 0.20 CNY per 10 shares, totaling 19,422,524.00 CNY[88]. - The cash dividend payout ratio for 2016 was -18.20% due to the negative net profit[90]. - The cash dividend payout ratio for 2015 was 78.23%[90]. - The cash dividend payout ratio for 2014 was 23.97%[90]. - The company plans to maintain a minimum cash dividend ratio of 20% during its growth phase[91]. - The total distributable profit at the end of 2016 was 593,860,471.54 CNY[92]. Operational Capacity and Acquisitions - The company has a total installed capacity of 2,668,800 kW, with hydropower capacity of 1,764,700 kW, ranking first in Gansu Province[27]. - The company completed the acquisition of 100% equity in Jiuhui Wind Power under the same control, which has been included in the consolidated financial statements[18]. - The company’s main business shifted from hydropower to include wind and solar power generation following the acquisition[45]. - The company completed a non-public stock issuance to acquire 100% equity of Jiuhui Wind Power, which was included in the consolidated financial statements[45]. - The company has committed to invest a total of CNY 176,000 million in various projects, with 100% of the funds allocated to projects such as the acquisition of JiuHui Wind Power and the GuaZhou AnBei Wind Farm, both of which have reached their investment goals[63]. Risks and Challenges - The company is exposed to risks such as natural factors, monetary policy changes, and a slowdown in electricity consumption growth, which could impact future performance[6]. - The company anticipates a slowdown in electricity consumption growth due to national economic growth rates stabilizing around 6.5%[72]. - The company faces challenges from increased competition in the electricity market due to ongoing reforms and the need to address issues related to wind and solar energy curtailment[72]. - The company faces risks from natural factors affecting power generation, with a focus on maximizing the utilization of natural resources[78]. - The company has a higher-than-average debt-to-asset ratio, making it vulnerable to changes in monetary policy, and plans to proactively explore financing channels[78]. Corporate Governance and Compliance - The company has engaged Ruihua Certified Public Accountants for auditing services, ensuring compliance and accuracy in financial reporting[17]. - The internal control audit for 2016 was conducted by Ruihua Certified Public Accountants, with a fee of 350,000 CNY[102]. - The company has maintained its commitment to avoid competition and related transactions, which is still in effect[95]. - The company has no major accounting errors that require retrospective restatement during the reporting period[99]. - The company emphasizes the protection of minority shareholders' rights and provides various channels for them to express their opinions during profit distribution discussions[84]. Employee and Management Structure - The company employed a total of 1,899 staff, including 1,137 production personnel and 444 technical personnel[177]. - The company has a strong management team with members holding significant positions in various subsidiaries and related companies[168]. - The total remuneration for directors, supervisors, and senior management during the reporting period was 2.08 million yuan, with 10 individuals receiving compensation[173]. - The company has implemented a salary management system based on job performance, including basic salary, position salary, auxiliary salary, and bonuses[179]. - The company has conducted various training programs, including safety production training and financial knowledge training, to enhance employee skills[180]. Financial Reporting and Internal Controls - The company has established internal control mechanisms to ensure the accuracy and completeness of financial reporting[198]. - The internal control audit report did not indicate any significant issues[200]. - The company reported zero significant defects in financial reporting and non-financial reporting[198]. - The audit committee reviewed the internal control evaluation report and the annual report, ensuring the independence of the audit process[193]. - The company adheres to recognized accounting standards and has implemented anti-fraud procedures[198].

Financial Performance - Operating revenue for the reporting period was ¥594,297,382.14, down 3.58% year-on-year, while year-to-date revenue decreased by 14.66% to ¥1,243,234,113.43[6] - Net profit attributable to shareholders of the listed company was ¥169,164,303.99, an increase of 17.30% compared to the same period last year[6] - Basic earnings per share for the reporting period was ¥0.1742, reflecting a 17.31% increase year-on-year[6] - Operating revenue decreased by 14.66% to ¥1,243,234,113.43, primarily impacted by climate changes and reduced rainfall affecting power generation[14] - Net profit attributable to shareholders decreased by 91.42% to ¥6,749,761.13, mainly due to the decline in operating revenue[14] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥19,409,924,257.18, a decrease of 0.87% compared to the previous year[6] - Net assets attributable to shareholders of the listed company increased by 29.50% to ¥5,110,940,761.10 compared to the previous year[6] - Accounts receivable increased by 142.37% to ¥536,133,566.19 due to seasonal increases in electricity settlement[14] - Cash and cash equivalents decreased by 144.39% to -¥237,275,417.52, mainly due to increased loan repayments[17] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥616,652,533.92, a decrease of 40.80% compared to the previous year[6] - Cash flow from operating activities decreased by 40.80% to ¥616,652,533.92, reflecting the reduction in operating revenue[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 34,768[10] - The largest shareholder, Gansu Electric Power Investment Group Co., Ltd., holds 62.54% of the shares[10] Financing Activities - The company repaid bank loans amounting to ¥2,644,271,557.21, an increase of 130.13% compared to the previous year[17] - The company raised ¥1,769,199,550.18 through a private placement of shares, which has been fully utilized for operational funding[19] Expenses and Investments - Management expenses rose by 59.58% to ¥16,303,632.81, primarily due to intermediary fees related to the acquisition of equity in Jiuhui Wind Power[14] - Deferred tax assets increased by 173.36% to ¥34,514,637.94 due to increased deductible losses recognized during the reporting period[14] - There are no securities investments during the reporting period[23] - There are no derivative investments during the reporting period[24] Commitments and Guarantees - The commitment to avoid competition and related transactions is being fulfilled normally, with a commitment period from December 27, 2017, to December 2022[22] - There are no violations regarding external guarantees during the reporting period[27] - There are no non-operating fund occupations by the controlling shareholder or its related parties during the reporting period[28] Government Support - The company reported government subsidies amounting to ¥206,000 during the reporting period[8] Research and Development - The company conducted investor research activities focusing on hydropower operations and wind power consumption in August 2016[26] Profit Guarantees - The net profit attributable to the parent company is not less than 154.75 million yuan for the fiscal year 2015[22] - If the actual net profit falls below the promised amount, the difference will be compensated in cash by the controlling shareholder, Electric Power Investment Group[22] Acquisitions - The company completed the acquisition of 100% equity in Jiuquan Huineng Wind Power Development Co., Ltd. in April 2016, impacting the consolidated financial statements[7]

Financial Performance - The company's operating revenue for the reporting period was ¥648,936,731.29, a decrease of 22.78% compared to the same period last year[19]. - The net profit attributable to shareholders of the listed company was -¥162,414,542.86, representing a decline of 147.81% year-on-year[19]. - The net cash flow from operating activities was ¥323,990,042.97, down 50.08% from the previous year[19]. - The basic earnings per share were -¥0.1829, a decrease of 101.43% compared to the same period last year[19]. - The total assets at the end of the reporting period were ¥19,580,568,413.57, a decrease of 1.46% from the end of the previous year[19]. - The weighted average return on net assets was -4.02%, a decline of 2.43% compared to the previous year[19]. - The company reported a significant increase in management expenses by 147.88% due to the settlement of intermediary fees related to the non-public issuance of shares[32]. - The gross profit margin for the power industry segment was 20.45%, with a decrease of 16.80% compared to the previous year[35]. - The company reported a net loss for the first half of 2016 of CNY 168,976,786.70, compared to a net loss of CNY 70,023,131.83 in the previous year, representing an increase in loss of 141.4%[153]. Asset and Equity Changes - The total assets of the company as of June 30, 2016, were CNY 19.296 billion, with net assets attributable to shareholders amounting to CNY 4.942 billion[27]. - The total equity attributable to shareholders of the parent company rose to CNY 6,482,924,338.92 from CNY 5,015,072,128.29, an increase of 29.2%[150]. - The company's total current assets decreased from CNY 1,948,425,181.24 at the beginning of the period to CNY 1,818,980,220.80 at the end of the period, representing a decline of approximately 6.66%[144]. - The company's equity increased from CNY 3,402,677,366.36 to CNY 3,402,677,366.36, reflecting a growth in capital reserves[146]. - The total equity attributable to shareholders at the end of the period was 4,112,490,073.14 CNY, with a decrease of 590,045,021.26 CNY during the period[169]. Cash Flow and Financing Activities - Cash flow from operating activities decreased by 50.08% to CNY 323.99 million, primarily due to a decline in operating revenue[32]. - The company reported a total cash and cash equivalents at the end of the period decreased to CNY 709,525,366.01 from CNY 835,281,675.40, marking a decline of approximately 15.1%[160]. - The company paid CNY 1,516,877,257.21 in debt repayments, which is a significant cash outflow impacting liquidity[160]. - The company issued bonds with a total balance of 700 million yuan, with an interest rate of 4.23% and a maturity date of September 10, 2020[105]. - The company maintained a loan repayment rate and interest payment rate of 100% during the reporting period[115]. Investments and Acquisitions - The company completed the acquisition of 100% equity in Jiuhui Wind Power from its controlling shareholder, which was included in the consolidated financial statements[19]. - The company acquired 100% of Gansu Hui Energy Technology Co., Ltd. for 68 million CNY, which includes wind power and solar power generation businesses[70]. - The company completed the acquisition of 100% equity in Jiuhui Wind Power on April 7, 2016, with the merger accounting applied retrospectively to the financial statements[81]. - The company has ongoing commitments to avoid competition and ensure independence, with performance commitments related to net profits of CNY 154.75 million for the years 2015 to 2017[95][96]. Shareholder and Governance Matters - The company plans not to distribute cash dividends or issue bonus shares for this reporting period[4]. - The company emphasizes the protection of minority shareholders' rights by providing convenient voting methods for them during shareholder meetings[60]. - The company has revised its articles of association to enhance corporate governance and ensure shareholder interests[65]. - The largest shareholder, Gansu Electric Power Investment Group, reduced its holding from 84.11% to 62.54%, a decrease of 21.57%[127]. Future Outlook and Strategic Initiatives - Future outlook suggests a projected revenue growth of 12% for the next fiscal year, driven by market expansion and new product launches[101]. - The company plans to invest CNY 500 million in new technology development and product innovation in the upcoming fiscal year[101]. - Gansu Electric Power is exploring potential mergers and acquisitions to enhance its market position and operational capabilities[101]. - The company aims to reduce operational costs by 5% through efficiency improvements and technology upgrades[101]. - Gansu Electric Power is committed to sustainability, with plans to increase its renewable energy portfolio by 25% over the next three years[101]. Compliance and Legal Matters - The company has not engaged in any major litigation or arbitration matters during the reporting period[66]. - There were no violations regarding external guarantees during the reporting period[91]. - The company reported no other significant contracts or transactions during the reporting period[92][93]. - The financial statements comply with the accounting standards and accurately reflect the company's financial position as of June 30, 2016[189].

Financial Performance - The company's operating revenue for the first quarter was ¥228,013,992.44, a decrease of 26.87% compared to the same period last year[5] - The net profit attributable to shareholders was -¥191,652,057.72, representing a decline of 46.39% year-over-year[5] - The net cash flow from operating activities was ¥150,164,913.52, down 43.75% from the previous year[5] - Total profit amounted to -¥200,084,234.07, a decline of 47.26% year-on-year, influenced by decreased electricity revenue and higher curtailment rates[13] - Cash received from sales decreased by 40.78% to ¥245,366,920.71, mainly due to a reduction in main business income[14] - Basic earnings per share were -¥0.2158, reflecting a 19.03% increase in losses compared to the previous year[14] Assets and Shareholder Information - Total assets at the end of the reporting period reached ¥21,022,137,830.98, an increase of 7.36% compared to the end of the previous year[5] - The net assets attributable to shareholders increased by 50.98% to ¥4,931,927,503.97[5] - The total number of ordinary shareholders at the end of the reporting period was 27,735[10] - The largest shareholder, Gansu Electric Power Investment Group Co., Ltd., holds 62.54% of the shares[10] Acquisitions and Subsidiary Performance - The company completed the acquisition of 100% equity in Jiuquan Huineng Wind Power Development Co., Ltd., which was accounted for under the same control business combination[6] - The cumulative net loss from the acquired subsidiary since the beginning of the year until the merger date was -¥34,612,779.97[8] Cash and Receivables - Cash and cash equivalents increased by 138.89% to ¥2,418,786,305.36 compared to the beginning of the year, mainly due to funds raised from a private placement of shares[13] - Accounts receivable rose by 50.49% to ¥332,903,007.40, attributed to a decrease in electricity collection rates compared to the same period last year[13] Expenses and Financial Management - Financial expenses decreased by 18.59% to ¥164,217,078.57, due to increased loan repayments and reduced interest expenses[13] - Investment income fell by 62.18% to ¥2,508,053.32, primarily due to a decrease in net profits from associated companies[13] - The company reported a 273.37% increase in management expenses to ¥5,418,659.57, mainly due to intermediary fees related to refinancing[13] Compliance and Activities - The company has committed to cash compensation based on the difference between the promised performance and the audited net profit attributable to the parent company for the years 2015, 2016, and 2017[19] - There are no securities investments reported during the period[20] - The company did not engage in any derivative investments during the reporting period[21] - No research, communication, or interview activities were conducted during the reporting period[22] - There are no instances of non-compliance with external guarantees during the reporting period[23] - The company did not experience any non-operating fund occupation by controlling shareholders or related parties during the reporting period[24]

Financial Performance - The company's operating revenue for 2015 was approximately ¥1.33 billion, a decrease of 9.66% compared to ¥1.47 billion in 2014[17]. - The net profit attributable to shareholders of the listed company was approximately ¥32.44 million, down 83.64% from ¥198.31 million in 2014[17]. - The basic earnings per share for 2015 was ¥0.0449, reflecting an 83.65% decline from ¥0.2746 in the previous year[17]. - The net cash flow from operating activities was approximately ¥877.94 million, a decrease of 4.31% compared to ¥917.48 million in 2014[17]. - Total assets at the end of 2015 were approximately ¥13.39 billion, a decrease of 1.68% from ¥13.62 billion at the end of 2014[17]. - The net assets attributable to shareholders of the listed company were approximately ¥3.64 billion, a slight decrease of 0.20% from ¥3.65 billion in 2014[17]. - The weighted average return on net assets for 2015 was 0.89%, down from 5.53% in 2014[17]. - The company achieved operating revenue of CNY 1.326 billion in 2015, a decrease of 9.66% year-on-year[30]. - The net profit attributable to shareholders was CNY 32.44 million, down 83.64% compared to the previous year[30]. - The total assets at the end of the reporting period were CNY 13.393 billion, a decrease of 1.68% year-on-year[30]. Cash Flow and Investment - The company’s cash flow from operating activities for the year was CNY 121.33 million in Q1, CNY 246.44 million in Q2, CNY 290.03 million in Q3, and CNY 220.14 million in Q4[21]. - The net cash flow from investment activities was -CNY 231,902,249.80, a significant improvement of 59.82% compared to -CNY 577,089,983.43 in the previous year[45]. - Total financing cash inflow increased by 7.25% to CNY 1,799,623,577.23, while cash outflow rose by 21.49% to CNY 2,330,719,252.36[45]. - The company invested 396,558,144.57 CNY during the reporting period, showing a slight decrease of 0.01% compared to the previous year[50]. Operational Highlights - The company’s hydropower installed capacity reached 1.7647 million kilowatts, ranking first in Gansu Province[25]. - The company’s hydropower generation decreased by 5.3 billion kWh year-on-year, totaling 57.15 billion kWh for the reporting period[30]. - The electricity sector accounted for 100% of the total operating revenue, with electricity sales contributing CNY 1,314,362,908.03, down 9.75% year-over-year[35]. - The gross profit margin for the electricity sector was 38.90%, a decrease of 7.05% from the previous year[35]. - Total sales volume of electricity was 5,580,170,000 kWh, representing an 8.68% decline from 6,110,470,000 kWh in 2014[36]. Dividend Policy - The company plans to distribute a cash dividend of ¥0.20 per 10 shares to all shareholders, based on the total share capital as of March 10, 2016[4]. - The company proposed a cash dividend of 0.20 yuan per 10 shares for 2015, totaling 19,422,524.00 yuan, which represents 100% of the total profit distribution[78]. - The company has maintained a cash dividend policy that requires at least 20% of the distributable profit to be allocated as cash dividends when there are no major investment plans[74]. - The company’s cash dividend policy has not been adjusted during the reporting period, ensuring compliance and transparency in its procedures[74]. Risks and Challenges - The company faces risks including natural factors, monetary policy changes, and a slowdown in electricity consumption growth[4]. - The national electricity consumption growth rate slowed to 0.5% in 2015, which may impact the company's renewable energy generation business[61]. - The company will actively explore financing channels and optimize its debt structure to address risks from changes in monetary policy[65]. - The company will monitor national policies on renewable energy to mitigate the impact of slowing electricity demand on its operations[66]. Corporate Governance - The company has established a comprehensive independent labor and personnel management system, ensuring all employees have signed labor contracts[182]. - The company’s governance structure includes a shareholders' meeting as the highest approval body, a board of directors as the decision-making body, and a supervisory board for oversight[179]. - The company has implemented internal control measures and engaged an auditing institution to enhance internal control effectiveness[180]. - The company has not reported any changes in the shareholding structure of its directors and supervisors during the reporting period[161]. Future Outlook - The company plans to optimize power station operations to maximize electricity generation during both dry and wet seasons in 2016[31]. - The company aims to achieve a power generation target of 6.1 billion kilowatt-hours for the year 2016[68]. - The company is positioned to benefit from ongoing national support for renewable energy projects, aiming for 9% of total electricity generation from non-hydropower renewable sources by 2020[62]. - The company plans to expand its clean energy generation capacity following the completion of its non-public stock issuance and asset acquisition[62].

甘肃电投能源发展股份有限公司 2015 年第三季度报告正文 证券代码：000791 证券简称：甘肃电投 公告编号：2015-48 甘肃电投能源发展股份有限公司 2015 年第三季度报告正文 第一节 重要提示 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。 3、公司负责人李宁平、主管会计工作负责人张建红及会计机构负责人(会计主管人员)张莉声明：保 证季度报告中财务报表的真实、准确、完整。 第二节 主要财务数据及股东变化 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 13,921,882,844.86 | 13,621,460,305.14 | | 2.21% | | 归属于上市公司股东的净资产（元） | 3,713,272,599.88 | 3,649,843,707.00 | | ...

Financial Performance - The company's operating revenue for the first half of 2015 was ¥556,663,949.05, an increase of 2.24% compared to ¥544,480,182.48 in the same period last year[18]. - The net profit attributable to shareholders was a loss of ¥68,048,725.66, a significant decrease of 1,592.07% from a profit of ¥4,560,692.71 in the previous year[18]. - The basic earnings per share for the reporting period was -¥0.0942, a decline of 1,595.24% from ¥0.0063 in the same period last year[18]. - The company reported a significant decrease in net profit primarily due to reduced water flow in certain river basins compared to the previous year, affecting power generation revenue[18]. - The company expects to maintain stable revenue and net profit levels compared to the previous year, despite challenges from seasonal water shortages[25]. - The company reported a significant reduction in cash and cash equivalents net increase, which was -¥126,271,579.34 compared to an increase of ¥214,615,296.16 in the previous period[133]. - The total comprehensive income for the first half of 2015 decreased by CNY 71,047,531.98 compared to the previous period[139]. - The company reported a decrease in net profit of CNY 112,386,178.05 for the first half of 2015 compared to the previous year[139]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 59.66% to ¥367,763,919.14, compared to ¥230,336,006.02 in the same period last year[18]. - The ending cash and cash equivalents balance decreased to ¥114,020,288.51 from ¥354,925,883.48, a decline of about 67.9%[134]. - Cash inflows from operating activities totaled ¥622,760,480.67, compared to ¥523,146,138.48 in the prior period, indicating an increase of about 19.1%[132]. - Cash outflows from operating activities decreased to ¥254,996,561.53 from ¥292,810,132.46, reflecting a reduction of approximately 13.0%[132]. - The net cash flow from investing activities was -¥153,529,984.01, an improvement from -¥257,943,702.64 in the previous period, showing a decrease in cash outflow of about 40.6%[133]. - The net cash flow from financing activities was -¥340,505,514.47, compared to ¥242,222,992.78 in the previous period, indicating a significant cash outflow shift[133]. Assets and Liabilities - The total assets at the end of the reporting period were ¥13,362,458,284.04, a decrease of 1.90% from ¥13,621,460,305.14 at the end of the previous year[18]. - The total liabilities decreased from RMB 9,836,119,853.48 to RMB 9,689,504,010.43, a reduction of approximately 1.5%[119]. - The company's equity attributable to shareholders decreased from RMB 3,649,843,707.00 to RMB 3,542,076,296.85, reflecting a decline of about 3.0%[120]. - The company's total assets as of June 30, 2015, amounted to RMB 13,362,458,284.04, a decrease from RMB 13,621,460,305.14 at the beginning of the period, reflecting a decline of approximately 1.9%[117]. - Current assets totaled RMB 474,740,461.54, down from RMB 679,240,602.74, indicating a decrease of about 30.1%[117]. - The company's cash and cash equivalents decreased from RMB 241,791,867.85 to RMB 114,020,288.51, a decline of approximately 52.8%[117]. Shareholder and Dividend Information - The company distributed a cash dividend of 0.55 CNY per 10 shares, totaling 39,718,684.50 CNY for the 2014 fiscal year[50]. - The cash dividend policy stipulates that at least 20% of the distributable profits for the year must be distributed in cash if there are no significant investment plans or cash expenditures[51]. - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[53]. - The total number of shares is 722,157,900, with 84.11% (607,379,805 shares) held by state-owned legal entities[100]. - The largest shareholder, Gansu Electric Power Investment Group Co., Ltd., holds 84.11% of the shares, with no changes during the reporting period[103]. Operational Strategy and Future Plans - The company plans to continue promoting the non-public issuance of stocks and the public issuance of corporate bonds, with the bond issuance application already approved by the CSRC[24]. - The company will focus on optimizing unit operations to increase electricity generation in the second half of the year[24]. - The company is actively optimizing power station operations to maximize electricity generation and achieve annual operational goals[25]. - The company has been actively managing investor relations to protect the interests of all shareholders[24]. - The company is committed to ongoing research and development of new technologies, aiming to launch at least two new products by the end of 2015[96]. Corporate Governance and Compliance - The company has established a proposal management method to enhance decision-making efficiency within the board of directors[58]. - There were no major lawsuits or arbitration matters during the reporting period[60]. - The company has not sold any assets during the reporting period[65]. - The company has no stock incentive plans or implementations during the reporting period[67]. - The company has confirmed that there are no non-operating fund occupations by the controlling shareholder during the reporting period[78]. Accounting and Financial Reporting - The financial statements are prepared in accordance with the relevant accounting standards, ensuring a true and complete reflection of the company's financial position as of June 30, 2015[160]. - The company operates under a normal business cycle of 12 months, which is used as a standard for classifying the liquidity of assets and liabilities[162]. - The company’s accounting records are maintained in RMB, which is the primary currency of its operational environment[163]. - The company has not reported any significant changes in accounting policies or prior period error corrections during the current reporting period[145].