Financial Performance - The company's operating revenue for the first half of 2017 was ¥488,262,264.91, a decrease of 23.52% compared to ¥638,441,840.43 in the same period last year[22]. - The net profit attributable to shareholders of the listed company was a loss of ¥14,615,269.06, an improvement of 79.78% from a loss of ¥72,296,827.36 in the previous year[22]. - The net cash flow from operating activities was ¥66,625,002.45, down 73.19% from ¥248,465,894.84 in the same period last year[22]. - The total assets at the end of the reporting period were ¥9,576,117,991.19, a decrease of 4.38% from ¥10,015,088,349.45 at the end of the previous year[22]. - The net assets attributable to shareholders of the listed company were ¥2,760,490,954.09, a slight decrease of 0.53% from ¥2,775,106,224.15 at the end of the previous year[22]. - The basic earnings per share improved to -¥0.0206 from -¥0.1335, reflecting an increase of 84.57%[22]. - The weighted average return on net assets was -0.13%, an improvement of 4.55% compared to -4.68% in the previous year[22]. - The company reported a net profit excluding non-recurring gains and losses of -¥16,843,399.85, an improvement of 76.24% from -¥70,881,248.52 in the previous year[22]. - The gross profit margin for the company was 32.35%, an increase of 11.70% year-on-year[38]. - The revenue from the power generation sector was CNY 438,404,409.59, with a year-on-year increase of 17.80%[38]. Cash Flow and Investments - The net cash flow from operating activities was CNY 66.63 million, down 73.19% from CNY 248.47 million in the previous year, mainly due to unsettled renewable energy subsidy payments[36]. - The company’s net cash flow from investing activities improved by 68.09%, amounting to CNY -48.32 million, compared to CNY -151.45 million in the previous year[37]. - The net cash flow from financing activities decreased by 121.42% to CNY -481.55 million, primarily due to borrowings related to wind and photovoltaic projects[37]. - The ending balance of cash and cash equivalents was CNY 595,585,870.17, down from CNY 1,058,837,011.39 at the beginning of the period[135]. - The company received CNY 50,000,000.00 from borrowings during the first half of 2017, a significant decrease from CNY 782,000,000.00 in the previous year[135]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares[7]. - The company completed the repurchase and cancellation of 2,507,595 shares at a total price of ¥1.00, reducing the total share capital from 708,626,592 shares to 706,118,997 shares[21]. - The total number of shares to be repurchased is calculated based on the difference between the cumulative forecasted net profit and the actual net profit during the compensation period[60]. - The company has committed to a share repurchase plan if the profit commitments are not met, with a maximum repurchase price of CNY 6.00 per share[60]. - The company has outlined specific measures for performance commitments and compensation arrangements in the event of profit shortfalls[60]. Operational and Strategic Developments - The company is undergoing a merger with its wholly-owned subsidiary, Ningxia Qingtongxia Ningdian Wind Power Energy Co., Ltd., which is still in progress[50]. - The company is actively working to recover overdue accounts receivable and manage inventory to alleviate financial pressure[52]. - The company is exploring potential mergers and acquisitions to strengthen its market position and drive future growth[141]. - The company plans to enhance its market expansion strategies, focusing on new product development and technological advancements[141]. Risks and Challenges - The company faces risks related to policy changes and business model shifts, particularly in the wind power sector[52]. - The company is facing financial risks due to delays in new energy subsidies and significant repayment pressures, leading to a tight cash flow situation[53]. - The company is closely monitoring national policies to apply for various financial supports, including subsidies for technology innovation and tax incentives[53]. Compliance and Governance - The company has not conducted an audit for the semi-annual financial report[63]. - The company has commitments to maintain operational independence and protect the rights of minority shareholders[62]. - The company has not reported any significant changes in its operational strategy or market expansion plans in the provided documents[63]. - The company has not disclosed any non-standard audit reports for the current or previous reporting periods[64]. Legal and Regulatory Matters - There are no significant litigation or arbitration matters affecting the company during the reporting period[66]. - The total amount involved in the contract dispute with Xi'an Aviation Power Company is CNY 34,927,200, which was later reduced to CNY 16,447,200 due to a supplementary agreement[65]. - The arbitration case initiated by Silver Star Energy against Xi'an Aviation Power for non-compliance with contract specifications has a claim amount of CNY 2,242,500, which includes various costs such as transportation and inspection fees[65]. Financial Reporting and Accounting Policies - The company's financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring a true and complete reflection of its financial status[161]. - The company recognizes impairment losses for financial assets when the present value of expected future cash flows is less than the carrying amount, and reverses impairment losses when the asset's value recovers[178]. - The company employs a perpetual inventory system, using moving average method for raw materials and specific identification for finished goods[183]. - The company recognizes financial instruments when it becomes a party to the contract, with specific criteria for classifying financial assets[174].

Financial Performance - The company's operating revenue for Q1 2017 was ¥245,405,974.91, a decrease of 0.99% compared to ¥247,870,122.39 in the same period last year[8]. - Net profit attributable to shareholders was ¥2,673,450.40, representing a significant increase of 103.38% from a loss of ¥79,188,805.19 in the previous year[8]. - The total profit increased to ¥3,062,782.62, a 103.59% increase compared to the previous year's loss of ¥85,380,436.30[16]. - Net profit reached ¥2,816,267.34, marking a 103.30% increase from a loss of ¥85,384,643.10 in the same period last year[16]. - Operating profit improved to ¥486,947.05, a significant recovery from a loss of ¥86,147,025.90, reflecting a 100.57% increase[16]. - The weighted average return on net assets improved to 0.10%, up from -5.16% in the previous year, reflecting a positive shift in profitability[8]. Cash Flow and Assets - The net cash flow from operating activities decreased by 83.73% to ¥21,349,091.37, down from ¥131,227,199.08 in the same period last year[8]. - Cash received from sales and services dropped by 47.43% to ¥145,900,063.76, primarily due to unsettled renewable energy subsidy payments[18]. - The net cash flow from operating activities fell by 83.73% to ¥21,349,091.37, largely due to the same subsidy payment issue[18]. - Total assets at the end of the reporting period were ¥9,851,270,429.19, a decrease of 1.64% from ¥10,015,088,349.45 at the end of the previous year[8]. - The company's net assets attributable to shareholders increased slightly by 0.10% to ¥2,777,779,674.55 from ¥2,775,106,224.15 at the end of the previous year[8]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 29,440, with the largest shareholder, Chalco Ningxia Energy Group Co., Ltd., holding 40.44% of the shares[11]. - Basic and diluted earnings per share improved to ¥0.0038, compared to a loss of ¥0.1462 per share in the previous year, marking an increase of 102.58%[8]. Receivables and Expenses - Accounts receivable increased by 173.22% to ¥47,597,118.76, primarily due to bank acceptance bills received for electricity revenue from new energy generation[15]. - Other receivables rose by 59.70% to ¥34,353,635.49, mainly due to increased monthly accruals for rent and tax refunds[15]. - Sales expenses decreased by 74.45% to ¥1,461,580.48, attributed to reduced sales volume and associated costs in the photovoltaic component sector[16][17]. - The company reported a 5759.92% increase in income tax expenses, amounting to ¥246,515.28, reflecting improved profitability[16]. Investment and Financing Activities - Investment activities saw a cash outflow of ¥32,194,302.06, a 41.80% decrease compared to the previous year, indicating a slowdown in capital expenditures[18][19]. - The company did not incur any new borrowings during the reporting period, leading to a 100% decrease in cash received from borrowings[18][20]. - The company experienced a 49.64% increase in non-operating income, totaling ¥4,899,135.91, primarily due to increased government subsidies[16][17]. Project Developments - 中铝宁夏能源已将所持有的银仪风电50%的股权在北京产权交易所挂牌进行公开转让，挂牌日期为2015年10月21日至2015年11月17日[22]. - 贺兰山百万千瓦级风电项目和白兴庄风电场100MW项目目前处于前期工作阶段，尚未正式申报项目立项文件[22]. - 陕西西夏能源有限公司定边冯地坑风电场一期49.5MW项目已经建成，二期项目正在建设中[22]. - 中铝宁夏能源承诺于银仪风电注入上市公司后一年内将所持陕西西夏能源股权按照评估确定的公允价格转让给上市公司[22]. - 中铝宁夏能源承诺在本次重组中认购取得的银星能源新增发行股份，自上市之日起三十六个月内不进行转让[22]. - 银星能源本次募集配套资金中，除中铝宁夏能源外的其他特定对象认购的银星能源股票，已承诺在上市之日起三十六个月内不进行转让[22]. - 中铝宁夏能源同意于银仪风电2015年度年报披露之日起一年内将其所持银仪风电股权注入上市公司[22]. - 中铝宁夏能源承诺于相关项目建成后一年内按照评估确定的公允价格将该等项目注入上市公司[22]. - 中铝宁夏能源控制下的风电类资产包括宁夏银仪风力发电有限责任公司50%的股权及其他风电项目[22]. - 中铝宁夏能源在未来无法作为项目主体申请立项或实施项目的情况下，将继续推进后续工作[22]. Profit Forecast and Compensation - The projected net profits for the acquired assets are estimated to be CNY 46.1543 million, CNY 54.5987 million, CNY 63.58 million, and CNY 100.3279 million for the years 2014, 2015, 2016, and 2017 respectively[23]. - The assessment value of the six wind power plants is CNY 1,176.6082 million, with the total number of subscribed shares corresponding to 178.544492 million shares[24]. - If the actual cumulative net profit of the six wind power plants is less than the forecasted net profit, the company will notify the relevant parties within 5 days of the annual report disclosure[23]. - The company plans to repurchase shares at a total price of CNY 1.00 if profit compensation is required, with a maximum repurchase quantity set[24]. - The profit compensation period is defined as 2014, 2015, and 2016, with specific conditions for share repurchase outlined[23]. - The company must return cash dividends for repurchased shares during the profit compensation period[24]. - If the impairment amount of the six wind power plants exceeds the total number of compensated shares, additional compensation shares will be issued[24]. - The company has committed to achieving net profits after deducting non-recurring gains and losses for the specified years[23]. - The average stock issuance price for the asset acquisition is set at CNY 6.59 per share[24]. - The company will hold a shareholders' meeting to approve the repurchase of shares after determining the final number of shares to be repurchased[24]. Other Activities - The company reported no securities investments during the reporting period[28]. - There were no derivative investments during the reporting period[28]. - The company did not engage in any external guarantees during the reporting period[29]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[30]. - The company did not conduct any research, communication, or interview activities during the reporting period[30].

Financial Performance - The company's operating revenue for 2016 was ¥1,442,558,225.52, representing a 19.70% increase compared to ¥1,205,176,370.03 in 2015[19]. - The net profit attributable to shareholders in 2016 was ¥11,030,187.71, a significant recovery from a loss of ¥117,031,598.56 in 2015, marking a 109.24% improvement[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥24,573,214.18, an 80.94% reduction in loss compared to -¥128,900,035.88 in 2015[19]. - The net cash flow from operating activities decreased by 15.78% to ¥598,626,931.49 from ¥710,764,123.76 in 2015[19]. - Basic earnings per share increased to CNY 0.02, a 109.09% improvement compared to a loss of CNY 0.216 in the previous year[20]. - Total assets reached CNY 10,015,088,349.45, reflecting a 6.98% increase from CNY 9,361,883,473.56 at the end of 2015[20]. - Net assets attributable to shareholders rose by 76.44% to CNY 2,775,106,224.15 from CNY 1,572,853,142.50 in 2015[20]. - The company reported a net profit of CNY 58,748,781.44 in Q4 2016, compared to a loss of CNY 79,188,805.19 in Q1 2016[24]. - The total revenue for Q4 2016 was CNY 528,180,320.44, marking a significant increase from CNY 247,870,122.39 in Q1 2016[24]. - The company achieved a total operating revenue of CNY 1,442.56 million in 2016, representing a year-on-year increase of 19.07%[37]. - The net profit attributable to shareholders reached CNY 110.30 million, up 109.24% compared to the previous year[37]. Business Operations - The company’s business scope was officially changed to include the construction and operation management of wind and solar power generation[18]. - The company has a total installed capacity of 1,307,300 kW, primarily from wind and solar power generation[29]. - The company successfully launched a 30MWp solar power project in June 2016, contributing positively to operational results[29]. - The company is expanding its service capabilities in the renewable energy sector, including installation and maintenance services[29]. - The company plans to leverage existing wind farms to develop photovoltaic projects, potentially saving 15-20% in investment costs[34]. - The company has established a new energy monitoring and operation center to enhance the reliability of wind turbine operations and reduce management costs[34]. - The company is actively addressing bottlenecks in renewable energy generation, including power transmission limitations and forecasting accuracy[31]. - The company is focusing on expanding its photovoltaic equipment manufacturing capabilities, with a notable increase in production and sales figures[45]. - The company invested in the construction of a 30MWp photovoltaic power station, which commenced operation in June 2016[51]. Revenue Sources - The revenue from the power generation sector accounted for 59.94% of total revenue, while the equipment manufacturing sector contributed 28.15%[40]. - The company's total revenue for the power generation sector reached ¥864.73 million, with a year-on-year increase of 3.76%[43]. - The equipment manufacturing sector reported revenue of ¥483.41 million, showing a significant year-on-year growth of 44.52%[43]. - Solar power generation revenue increased by 3.76% year-on-year, while the gross margin decreased by 2.36%[43]. - The sales volume of wind power generator sets dropped by 83.74% year-on-year, with production also down by 81.48%[44]. - The sales volume of photovoltaic power generation equipment surged by 88.50% year-on-year, with production increasing by 134.16%[45]. Financial Management - Cash and cash equivalents increased by 221.12% to CNY 1,165 million, primarily due to the net proceeds from a non-public stock issuance[32]. - The company’s equity attributable to shareholders rose by 76.44% to CNY 277.51 million, driven by the increase in share capital and capital reserves from the stock issuance[32]. - The company’s accounts receivable increased by 160.35% due to pending subsidy payments and uncollected equipment payments[32]. - The company reported a significant decrease in investment amounting to 209,839,021.91, a 60.44% decline compared to the previous year[70]. - The company has provided a guarantee for a loan of 17,000,000 to its controlling shareholder, with collateral of long-term equity investments valued at 31,000,000[68]. - The company raised a total of RMB 1,173,964,993.94 through a private placement of 166,993,598 shares at a price of RMB 7.03 per share, with a net amount of RMB 1,164,278,893.94 after deducting issuance costs[80]. - The company reported a net increase in cash and cash equivalents of ¥729,101,747.89, a significant increase of 451.48% compared to the previous year[62]. Shareholder Information - The company’s stock is listed on the Shenzhen Stock Exchange under the code 000862[15]. - The controlling shareholder remains unchanged as China Aluminum Ningxia Energy Group Co., Ltd.[18]. - The company has not distributed profits or converted capital reserves into share capital in the past three years due to substantial unremedied losses[96]. - The company reported a net profit attributable to ordinary shareholders of 11,030,187.71 in 2016, with no cash dividends proposed[97]. - The company did not distribute cash dividends, issue bonus shares, or increase share capital from capital reserves for the reporting period[98]. - The largest shareholder, Chalco Ningxia Energy Group Co., Ltd., holds 52.91% of the shares, with an increase of 286,597,495 shares during the reporting period[152]. - The company reported that the number of shares held by the top ten shareholders includes 79,323,793 shares held by Chalco Ningxia Energy Group Co., Ltd., which are unrestricted[152]. Governance and Compliance - The company has not made any adjustments to previous years' accounting data due to policy changes or errors[19]. - The company’s financial report was audited by Xinyong Zhonghe Accounting Firm[19]. - The company has not reported any significant changes in major sales contracts as of the reporting period[45]. - The company has not engaged in any securities or derivative investments during the reporting period[75][77]. - The company has maintained a stable management structure with no new share acquisitions by current executives[161]. - The company has established a transparent performance evaluation and incentive mechanism to attract and retain talent, ensuring managerial stability[181]. - The company has publicly disclosed all necessary information in compliance with legal and regulatory requirements, ensuring transparency for all shareholders[180]. - The company maintained effective internal control over financial reporting as of December 31, 2016, according to the internal control audit report[195]. - The audit opinion issued by the accounting firm was a standard unqualified opinion, confirming the reliability of the financial statements[200].

Financial Performance - The company's operating revenue for 2016 was ¥1,442,558,225.52, representing a 19.70% increase compared to ¥1,205,176,370.03 in 2015[19] - The net profit attributable to shareholders for 2016 was ¥11,030,187.71, a significant recovery from a loss of ¥117,031,598.56 in 2015, marking a 109.24% improvement[19] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥24,573,214.18, an 80.94% reduction in losses compared to -¥128,900,035.88 in 2015[19] - The net cash flow from operating activities for 2016 was ¥598,626,931.49, a decrease of 15.78% from ¥710,764,123.76 in 2015[19] - Basic earnings per share increased to CNY 0.02, a 109.09% improvement compared to a loss of CNY 0.216 in the previous year[20] - Total assets reached CNY 10,015,088,349.45, reflecting a 6.98% increase from CNY 9,361,883,473.56 at the end of the previous year[20] - Net assets attributable to shareholders increased by 76.44% to CNY 2,775,106,224.15 from CNY 1,572,853,142.50 in the previous year[20] - The company reported a net profit of CNY 58,748,781.44 in Q4 2016, compared to a loss of CNY 79,188,805.19 in Q1 2016[24] - The total operating income for Q4 2016 was CNY 528,180,320.44, significantly higher than CNY 247,870,122.39 in Q1 2016[24] Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[6] - The company’s controlling shareholder remains China Aluminum Ningxia Energy Group Co., Ltd., with no changes reported during the reporting period[18] - The company has not distributed profits or converted capital reserves into share capital in the past three years due to significant unremedied losses[96] - The company has committed to avoid competition with its controlling shareholder and has made progress in transferring certain wind power assets[99] - The company has a commitment to lock up newly issued shares for 36 months from the date of listing, with specific exceptions for certain shareholders[99] Business Operations - The company has undergone a change in its business scope to include the construction and operation management of wind and solar power projects[18] - The company has engaged Xinyong Zhonghe Accounting Firm for auditing services during the reporting period[19] - The company has a total installed capacity of 1,307,300 kW, primarily from wind and solar power generation[29] - The company successfully launched a 30MWp solar power project in June 2016, contributing positively to operational results[29] - The company is expanding its service capabilities in the renewable energy sector, including installation and maintenance services, which are becoming new profit growth points[29] Revenue Sources - The revenue from the power generation sector accounted for 59.94% of total revenue, while the equipment manufacturing sector contributed 28.15%[40] - The company reported a total revenue of 24,973.8 million yuan for the year 2016, with a significant increase in associated sales amounting to 18,152.04 million yuan, representing 88.49% of the initial expected sales[124] - The company achieved a revenue of 239.21 million yuan from maintenance services, with a growth rate of 7.51%[118] Investments and Projects - The company is currently involved in significant non-equity investments, including a solar power project with a total investment of 157,917,544.47[74] - The company has committed to divesting its photovoltaic power generation and related product manufacturing assets within five years starting from February 10, 2014, or will acquire them at fair value if not sold[103] - The company has initiated the construction of a 49.5MW wind power project and has received approval for a 50MW wind power project, indicating ongoing expansion in renewable energy[180] Financial Management - The company’s financial expenses decreased by 14.77% to ¥356,635,573.34, mainly due to a reduction in long-term loan principal and interest[57] - The company reported a total external guarantee amount of 40,000 million yuan, with actual guarantees amounting to 31,000 million yuan[129] - The total approved guarantee limit for subsidiaries was CNY 60,100 million, with an actual guarantee balance of CNY 27,800 million at the end of the reporting period[131] Governance and Compliance - The company has established a comprehensive governance structure with independent directors providing oversight and strategic guidance[163] - The company has committed to maintaining operational independence and protecting the rights of minority shareholders[102] - The company has maintained effective internal control over financial reporting as of December 31, 2016, according to the internal control audit report[193] - The audit opinion for Ningxia Silver Star Energy Co., Ltd. is a standard unqualified opinion, indicating that the financial statements fairly present the company's financial position as of December 31, 2016[198] Human Resources - The total number of employees in the company is 663, with 346 in the parent company and 317 in major subsidiaries[170] - The company has a total of 379 production personnel, 19 sales personnel, 91 technical personnel, 27 financial personnel, and 147 administrative personnel[170] - The company has implemented a differentiated salary distribution mechanism to retain core talent and key employees[171] Research and Development - Research and development investment increased by 57.41% to ¥18,580,334.31, representing 1.29% of operating revenue[58] - The company is actively engaged in research and development of new technologies to enhance product offerings[117] - The company has outlined future performance guidance based on current market trends and operational strategies[117]

Financial Performance - Net profit attributable to shareholders increased by 177.91% to CNY 24,578,233.63 for the reporting period[6] - Operating revenue rose by 4.37% to CNY 275,936,064.65 compared to the same period last year[6] - Total profit decreased primarily due to reduced wind power revenue and profits, with a significant impact from regional power restrictions[17] - The net profit attributable to shareholders decreased significantly due to the same reasons affecting total profit[17] - The company reported a 30.87% decrease in cash received from sales of goods and services, totaling ¥632,603,908.93[18] Assets and Liabilities - Total assets decreased by 2.07% to CNY 9,167,715,261.48 compared to the end of the previous year[6] - Cash and cash equivalents decreased by 42.95% to ¥188,108,666.17 compared to the previous year[16] - Accounts receivable increased by 79.56% due to unsettled subsidy payments for new energy projects and uncollected sales from a subsidiary[14] - Accounts receivable increased by 79.56% to ¥455,664,570.45 compared to the previous year[16] - Short-term borrowings grew by 52.42% as the company secured loans to supplement working capital for new energy projects[14] - The company’s short-term borrowings increased by 52.42% to ¥410,000,000.00 compared to the previous year[16] Cash Flow - Cash flow from operating activities decreased by 33.70% to CNY 436,583,009.13 year-to-date[6] - The net cash flow from operating activities decreased by 33.70% to ¥436,583,009.13 compared to the previous year[18] - The investment activities cash outflow decreased by 43.49% to ¥202,829,984.94 compared to the previous year[18] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 27,516[10] - The largest shareholder, Chalco Ningxia Energy Group Co., Ltd., holds 52.91% of the shares[10] Corporate Governance and Compliance - The company is committed to maintaining operational independence and protecting the rights of minority shareholders[25] - There were no violations regarding external guarantees during the reporting period[30] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[31] Strategic Initiatives - The company is committed to advancing its projects, including the integration of wind power assets into the listed company[22] - The company plans to eliminate competition in the wind power sector by divesting from competing businesses within three years[25] - The company has successfully completed the sale of its stake in a wind turbine manufacturing subsidiary to eliminate competition in assembly operations[26] Asset Management and Restructuring - The restructuring plan has been approved by the China Securities Regulatory Commission, and the asset transfer and handover process has been substantially completed[26] - The total debt amount related to non-equity assets was 2.363 billion yuan, with 2.307 billion yuan (97.76% agreement rate) of that debt approved for transfer to Ningxia Silver Star Energy[25] - The company has committed to obtaining land use rights certificates within one year and property ownership certificates within three months after asset delivery, with penalties for non-compliance[25] Profit Forecast and Compensation - The cumulative forecasted net profit for the six wind power plants is subject to adjustments based on any stock distributions or bonuses during the compensation period[24] - The profit compensation period for the six wind power plants is set for 2014, 2015, and 2016, with specific measures for compensation if actual profits fall short of commitments[23] - If the actual cumulative net profit of the six wind power plants is less than the forecasted net profit, the company must notify the controlling shareholder within five days of the annual report disclosure[23] - The company has committed to a share repurchase mechanism if profit targets are not met, with a maximum repurchase price set at CNY 1.00 per share[24] - The compensation shares will be locked and will not have voting rights or dividend distribution rights during the compensation period[24] - The company will hold a shareholder meeting within two months after determining the final number of shares to be repurchased[24] - The average stock issuance price for the acquisition of assets is CNY 6.59 per share, based on the average price over the 20 trading days prior to the pricing benchmark[24]

Financial Performance - The company's operating revenue for the first half of 2016 was CNY 638,441,840.43, representing a 2.47% increase compared to CNY 623,023,830.41 in the same period last year[21]. - The net profit attributable to shareholders of the listed company was a loss of CNY 72,296,827.36, a significant decline of 860.01% from a profit of CNY 9,512,582.74 in the previous year[21]. - The net cash flow from operating activities decreased by 39.79%, amounting to CNY 248,465,894.84 compared to CNY 412,667,181.19 in the same period last year[21]. - The basic earnings per share were reported at -0.1335 CNY, a decrease of 858.52% from 0.0176 CNY in the previous year[21]. - The weighted average return on net assets was -4.68%, a decline of 5.24% compared to 0.56% in the previous year[21]. - The net profit after deducting non-recurring gains and losses was a loss of CNY 70,881,248.52, down 778.51% from a profit of CNY 10,446,629.43 in the previous year[21]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 9,232,921,611.63, down 1.38% from CNY 9,361,883,473.56 at the end of the previous year[21]. - The net assets attributable to shareholders of the listed company decreased by 2.88%, totaling CNY 1,527,500,315.14 compared to CNY 1,572,853,142.50 at the end of the previous year[21]. - Current liabilities increased from CNY 1,348,152,887.01 to CNY 1,377,402,517.25, an increase of about 2.0%[121]. - Non-current liabilities decreased from CNY 6,288,138,379.87 to CNY 6,179,678,451.61, a reduction of approximately 1.73%[122]. - Total liabilities decreased from CNY 7,636,291,266.88 to CNY 7,557,080,968.86, a decrease of about 1.04%[122]. Cash Flow - Cash flow from operating activities decreased by 39.79% to ¥248,465,894.84, mainly due to the monthly settlement of electricity subsidies[33]. - The net cash flow from operating activities was CNY 119,830,844.34, a decrease of 55.8% compared to CNY 271,080,973.96 in the previous period[140]. - Cash inflows from operating activities totaled $422.27 million, a decrease from $649.14 million in the previous period, reflecting a decline of approximately 34.93%[136]. - The ending balance of cash and cash equivalents was CNY 209,267,575.07, down from CNY 410,156,764.51 in the previous period[138]. Investments and Projects - Research and development investment surged by 9,128.33% to ¥938,520.71, reflecting a concentrated effort in the first half of the year[33]. - The company has completed the construction of the 30MWp photovoltaic power station, contributing to its stable development[35]. - The investment progress for the Sun Mountain Phase V project is 100%, with an investment of RMB 24,100,000[51]. - The company has established a wind power equipment engineering technology research center and a solar cell engineering technology research center, holding 40 utility model patents and 7 invention patents[38]. Dividends and Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares for the reporting period[7]. - The total number of ordinary shareholders at the end of the reporting period was 30,051[105]. - The largest shareholder, Chalco Ningxia Energy Group, held 52.91% of the shares, with a total of 286,597,400 shares[106]. - The proportion of restricted shares decreased from 47.74% to 38.27%, while unrestricted shares increased from 52.26% to 61.73%[105]. Legal and Compliance Matters - There are ongoing litigation matters involving a claim amounting to CNY 1.5 million, with the company actively engaging legal counsel[65]. - The company received a court ruling to refund Gansu Jinshi Chemical a total of CNY 6,654,160, including interest of CNY 124,210[66]. - The company incurred a total of CNY 94,638 in litigation costs, including CNY 19,638 in case acceptance fees and CNY 75,000 in appraisal fees[66]. - The company reported no media controversies during the reporting period[67]. Corporate Governance - The company did not experience any changes in its controlling shareholder during the reporting period[108]. - The company appointed new management personnel, including a new general manager and several supervisors, during the reporting period[115][116]. - The company has not made any changes to its consolidated financial reporting scope compared to the previous period[170]. Financial Reporting and Accounting - The company’s financial report for the half-year period was not audited[118]. - The financial statements are prepared in accordance with the enterprise accounting standards, reflecting the company's financial position, operating results, and cash flows accurately[174]. - The company recognizes financial assets or liabilities when it becomes a party to a financial instrument contract[189]. - The company assesses key assumptions and uncertainties in accounting estimates continuously, with changes in estimates recognized in the current and future periods[173].

Financial Performance - The company's operating revenue for Q1 2016 was ¥247,870,122.39, a decrease of 21.48% compared to ¥315,674,882.74 in the same period last year[8] - The net profit attributable to shareholders was -¥79,188,805.19, representing a significant decline of 1,361.98% from -¥5,416,559.83 year-on-year[8] - The net cash flow from operating activities decreased by 25.30% to ¥131,227,199.08 from ¥175,671,711.59 in the previous year[8] - Total assets at the end of the reporting period were ¥9,173,527,285.24, down 2.01% from ¥9,361,883,473.56 at the end of the previous year[8] - The weighted average return on net assets was -5.16%, a decrease of 4.84% compared to -0.32% in the previous year[8] - The company's basic and diluted earnings per share were both -¥0.1462, a decrease of 1,362.00% from -¥0.0100 in the previous year[8] - The total net assets attributable to shareholders decreased by 5.03% to ¥1,493,664,337.31 from ¥1,572,853,142.50 at the end of the previous year[8] - Total profit decreased primarily due to significant revenue decline in renewable energy generation caused by regional power restrictions[4] - Net profit attributable to shareholders decreased, reflecting the same reasons as total profit[8] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 31,858[11] - The top shareholder, Chalco Ningxia Energy Group Co., Ltd., held 52.91% of the shares, totaling 286,597,495 shares[11] Cash Flow and Expenditures - Cash received from tax refunds increased by 113.04% year-on-year, amounting to approximately 4.52 million[19] - Cash paid for purchasing goods and services increased by 108.86% year-on-year, totaling approximately 96.99 million[19] - Cash paid for various taxes decreased by 41.95% year-on-year, amounting to approximately 13.62 million[19] - Cash outflow for investing activities decreased by 64.71% year-on-year, totaling approximately 55.32 million[19] - Cash paid for debt repayment increased by 235.18% year-on-year, amounting to approximately 243.34 million[19] - The net increase in cash and cash equivalents decreased significantly by 2007.25% year-on-year, resulting in a decrease of approximately 70.65 million[19] Fundraising and Projects - The company plans to raise funds through a non-public stock issuance to support various renewable energy projects and working capital[20] - The review of the non-public stock issuance application was suspended pending additional data submission to the China Securities Regulatory Commission[20] - The company is committed to avoiding competition with its controlling shareholder, China Aluminum Ningxia Energy, and is currently in the process of fulfilling this commitment[22] - The 200MW wind power project in Alashan and the 100MW project in Baixingzhuang are in the preliminary stages and have not yet been formally submitted for project approval[23] - The company plans to inject its 50% stake in Ningxia Yinyi Wind Power into the listed company within one year after the completion of the project[24] - The first phase of the 49.5MW project at the Dingbian Fengdike Wind Power Plant has been completed, and the second phase is under construction[24] - The company will prioritize applying for project approval and specific construction for the aforementioned wind power projects[23] - The company has committed to injecting the projects into the listed company at fair value determined by assessment within one year after completion[24] - The company is in the process of transferring its equity in Shaanxi Xixia Energy and Shaanxi Dingbian Energy to the listed company at fair value[25] - The company has lifted the lock-up period for shares acquired by specific investors, allowing for potential market activity[25] - The company has not found any interested buyers for the publicly listed shares of Yinyi Wind Power during the designated transfer period[23] - The company is continuing to advance the planning of the 1 million kilowatt wind power project in Helan Mountain[22] Profit Compensation and Share Repurchase - The net profit attributable to the shareholders of Ningxia Silver Star Energy for 2014, 2015, 2016, and 2017 is projected to be CNY 46.1543 million, CNY 54.5987 million, CNY 63.5800 million, and CNY 100.3279 million respectively[27] - The valuation of the six wind power plants is estimated at CNY 1,176.6082 million, corresponding to a total of 178.544492 million shares[30] - If the actual cumulative net profit of the six wind power plants is less than the cumulative forecast net profit, Ningxia Silver Star Energy is required to notify Aluminum Ningxia Energy within 5 days of the annual report disclosure[28] - The compensation for profits not reaching the promised amount will be in the form of share compensation, calculated based on the special audit report from the accounting firm[27] - The cash dividend return to Ningxia Silver Star Energy will be calculated as the number of repurchased shares multiplied by the cash dividend per share during the compensation period[31] - The company plans to hold a shareholders' meeting within two months after determining the number of shares to be repurchased and completing the lock-up procedures[32] - The profit compensation period for the six wind power plants is set for 2014, 2015, and 2016[27] - If the profit compensation period ends and the cumulative actual net profit is less than the cumulative forecast, additional shares will be compensated by Aluminum Ningxia Energy[31] - The total number of shares to be repurchased is capped at a maximum determined by the profit compensation calculations[29] - The company will notify the securities registration and settlement agency to transfer the repurchased shares to a designated account for separate locking[32] - The company plans to repurchase all locked shares at a price of RMB 1.00 per share, contingent on shareholder approval[33] - The company reported a cash compensation of RMB 26.944 million from its controlling shareholder, Chinalco Ningxia Energy, for asset purchase profit compensation[35] Operational Independence and Asset Management - The company has committed to maintaining its operational independence and protecting the legal rights of minority shareholders[34] - The company is in the process of transferring 50% equity of Silver Wind Power to the public market, with no interested buyers found during the initial offering period[34] - The company is prioritizing the construction and operation of wind power projects, including the 100MW Baixingzhuang Wind Farm, which is currently in the preliminary work phase[35] - The company has no securities or derivative investments during the reporting period[36][37] - The company has not engaged in any non-operating fund occupation by its controlling shareholder during the reporting period[40] - The company has not reported any significant changes in net profit or losses for the first half of 2016[36] - The company is committed to divesting its photovoltaic power generation assets within five years, or it will acquire them at assessed value if unable to sell[35] - The company conducted communication regarding its production and operational status on March 31, 2016[38]

Financial Performance - The company's operating revenue for 2015 was CNY 1,205,176,370, a decrease of 16.22% compared to CNY 1,438,471,327 in 2014[19] - The net profit attributable to shareholders was a loss of CNY 117,031,598.5, representing a decline of 704.47% from a profit of CNY 19,360,919.01 in the previous year[19] - The basic earnings per share for 2015 was -CNY 0.22, a decrease of 650.00% compared to CNY 0.04 in 2014[19] - The company reported a net profit of -117 million yuan for 2015, primarily due to the impact of limited electricity generation in the renewable energy sector[34] - Total assets decreased by 5.81% from the previous year, amounting to 9.36 billion yuan at the end of 2015[26] - The company's weighted average return on equity was -7.17% for 2015, a decline from previous years[26] - The company's total revenue for 2015 was CNY 1,204,000,000, with a year-on-year decrease of 12.05% in the power generation sector[41] - The revenue from new energy generation was CNY 833,373,200.65, accounting for 69.15% of total revenue, with a decrease of 12.05% compared to the previous year[41] Cash Flow and Investments - The net cash flow from operating activities was CNY 710,764,123.76, an increase of 2.21% from CNY 695,426,526.79 in 2014[19] - Total operating cash inflow decreased by 9.01% to ¥1,293,189,544.08 compared to ¥1,421,237,930.11 in 2014[54] - Investment cash inflow rose significantly by 141.13% to ¥74,098,000.00, while investment cash outflow decreased by 31.19% to ¥296,782,910.63[54] - Net cash flow from financing activities decreased dramatically by 1,722.88% to -¥695,515,470.44, primarily due to increased project loans[55] - Cash and cash equivalents decreased by 180.81% to -¥207,436,257.31, reflecting significant declines in both investment and financing cash flows[55] Operational Changes and Strategies - The company plans not to distribute cash dividends or issue bonus shares for the year[6] - The company plans to enhance market-oriented reforms and optimize human resources to improve operational efficiency[35] - The company aims to actively engage in electricity marketing to maximize generation output despite ongoing electricity restrictions[35] - The company plans to continue its investment in renewable energy projects, despite the anticipated decrease in grid-connected electricity prices for renewable energy[76] - The company aims to optimize its equipment manufacturing sector through market-oriented reforms and strategic asset restructuring[78] Research and Development - The company reported a significant increase in R&D investment, totaling CNY 11,803,913.49, which is a 282.79% increase from the previous year[50] - The company’s R&D personnel decreased by 31.11% to 93, while the proportion of R&D personnel to total staff was 16%[50] Customer and Market Dynamics - The power generation sector contributed 69.15% to total revenue, while the equipment manufacturing sector accounted for 27.76%[38] - The company's top five customers accounted for 80% of total sales, with Ningxia Electric Power Company contributing CNY 739,856,134.95, or 61.39% of total sales[47] - The sales volume of wind power generation units increased by 13.89% to 61.5 MW, while the production volume surged by 332% to 54 MW[43] Financial Management and Governance - The company has engaged Xinyong Zhonghe Accounting Firm for auditing services during the reporting period[18] - The company’s financial advisor for continuous supervision during the reporting period was Southwest Securities Co., Ltd.[18] - The company has established a clear decision-making process for determining the remuneration of directors and senior management, ensuring transparency and accountability[173] - The company has a structured performance evaluation system for senior management, with base salaries assessed monthly and performance bonuses paid after the evaluation period[173] Shareholder and Equity Information - The total number of shares outstanding is 541,632,994, with 52.26% being unrestricted shares[151] - The largest shareholder, Chalco Ningxia Energy Group Co., Ltd., holds 52.91% of the shares[153] - The company has committed to transferring 50% equity of Yinyi Wind Power to the listed company at fair value within one year after the disclosure of the 2015 annual report[105] Legal and Compliance Matters - The company reported a litigation case involving an amount of 13.75 million yuan, which has entered the enforcement stage, and the company has reached a settlement agreement with the opposing party[114] - Another litigation case with an amount of 15 million yuan was rejected, and the company has hired a lawyer to file for retrial[114] Employee and Management Structure - As of December 31, 2015, the company had 686 employees, with 52% in production, 3% in sales, 12% in technology, 5% in finance, and 25% in administration[176] - The total salary expense for the period was CNY 46.005 million, accounting for 3.82% of the company's operating revenue[178] - The average salary for senior management was CNY 276,300 per person, while the average salary for all employees was CNY 68,200 per person[178] Future Outlook and Projections - The company plans to increase its renewable energy generation capacity by 100,000 kW annually, targeting 1.5 million kW by 2017 and 2 million kW by 2020[78] - The projected net profits attributable to the parent company for the years 2014, 2015, 2016, and 2017 are expected to be CNY 46.1543 million, CNY 54.5987 million, CNY 63.58 million, and CNY 100.3279 million respectively[97]

Financial Performance - The company's operating revenue for 2015 was CNY 1,205,176,370.03, representing a decrease of 16.22% compared to CNY 1,438,471,327.22 in 2014[17] - The net profit attributable to shareholders of the listed company was a loss of CNY 117,031,598.56, a decline of 704.47% from a profit of CNY 19,360,919.01 in the previous year[17] - The net cash flow from operating activities was CNY 710,764,123.76, showing a slight increase of 2.21% from CNY 695,426,526.79 in 2014[17] - The total assets at the end of 2015 were CNY 9,361,883,473.56, down 5.81% from CNY 9,939,201,085.76 at the end of 2014[17] - The net assets attributable to shareholders of the listed company decreased by 6.93% to CNY 1,572,853,142.50 from CNY 1,689,884,741.06 in the previous year[18] - The basic and diluted earnings per share were both CNY -0.22, a decrease of 650.00% from CNY 0.04 in 2014[17] - The weighted average return on net assets was -7.17%, a decline of 8.67% compared to 1.50% in the previous year[17] - The company reported a significant decrease in actual performance compared to the profit forecast, with actual earnings of 23.73 million CNY against a forecast of 54.60 million CNY, resulting in a shortfall due to limited electricity supply[94] Revenue Sources - The revenue from the power generation sector accounted for 69.15% of total revenue, while equipment manufacturing contributed 27.76%[36] - The company's revenue for the power generation sector was approximately ¥833.37 million, a decrease of 12.05% year-over-year, with a gross margin of 40.13%[38] - The company achieved a government subsidy of CNY 22,711,389.11 in 2015, which was included in the current profit and loss[23] - The company reported a total revenue of 397.15 million in 2015, reflecting a stable performance compared to the previous year[107] Operational Changes - The company plans not to distribute cash dividends or issue bonus shares for the year[6] - The company underwent a change in industry classification from "General Equipment Manufacturing" to "Electric Power Production" effective April 2, 2015[15] - The company has not reported any changes in its controlling shareholder during the reporting period, which remains the Chalco Ningxia Energy Group Co., Ltd.[15] - The company is focusing on market-oriented reforms to enhance operational efficiency and reduce costs[32] Capacity and Expansion Plans - The installed capacity of wind power plants reached 1,272.25 MW, and the solar power plants reached 20 MW[27] - The company plans to expand its wind power capacity by an additional 50 MW and solar power capacity by 30 MW in 2016[29] - The company plans to increase its new energy generation capacity by 100,000 kW annually, aiming for 1.5 million kW by 2017 and 2 million kW by 2020[72] - The company is actively pursuing the construction of new wind power projects, including the 50MW Zhuozhuang Wind Power Plant, which has been approved[83] Financial Management and Investments - The total amount of raised funds was RMB 426,999,999.24, with a net amount of RMB 411,173,925.39 after deducting issuance costs[61] - The company has not made any changes to the use of raised funds during the reporting period[66] - The company has repaid bank loans totaling RMB 12,000,000, achieving 100% of the planned investment[64] - The company plans to raise funds through a non-public stock issuance to invest in several renewable energy projects, including a 30MWp solar power station and a 99MW wind power project[133] Research and Development - Research and development investment increased by 282.79% to ¥11.80 million, representing 0.98% of total revenue[48] - The company has ongoing R&D projects, including a 200 MW BIPV photovoltaic component project, expected to complete acceptance testing by October 2016[47] - The company is focusing on technological advancements in solar energy, with ongoing research and development initiatives[107] Shareholder and Governance Structure - The largest shareholder, Chalco Ningxia Energy Group Co., Ltd., holds 52.91% of the shares, totaling 286,597,495[141] - The company has not experienced any significant changes in its shareholder structure during the reporting period[140] - The company has a diverse board with members holding significant experience in energy management and finance, contributing to strategic decision-making[155] - The company’s independent directors have actively participated in board meetings, with a 100% attendance rate for in-person meetings[180] Legal and Compliance Issues - The company is involved in a lawsuit with China Environmental Protection Company, with a disputed amount of CNY 13.75 million, which has entered the enforcement stage[102] - The company has reached a settlement in a construction contract dispute with Ningxia Islamic Geological Engineering Company, involving an amount of CNY 10.06 million[102] - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[95] Internal Control and Audit - The company maintained effective internal control over financial reporting as of December 31, 2015, according to the internal control audit report[190] - The audit report confirmed that the financial statements fairly presented the company's financial position and operating results for the year 2015[198] - The internal control self-assessment report was disclosed on March 18, 2016, on the website of the Shenzhen Stock Exchange[191] Employee and Management Structure - As of December 31, 2015, the company had a total of 686 employees, with 52% in production, 3% in sales, 12% in technology, 5% in finance, and 25% in administration[165] - The average salary for senior management was CNY 276,300 per person, while the average salary for all employees was CNY 68,200 per person[167] - The company has established an independent procurement, sales, and production system, ensuring complete operational independence from the controlling shareholder[175]

Financial Performance - Operating revenue for the reporting period was CNY 264,391,492.38, down 17.54% year-on-year[7] - Net profit attributable to shareholders was a loss of CNY 31,545,571.15, representing a decline of 328.77% compared to the same period last year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 37,475,387.53, a decrease of 114.94% year-on-year[7] - Basic earnings per share were -CNY 0.0582, a decline of 154.15% compared to the same period last year[7] - Operating profit decreased by 82.74% from CNY -22.74 million to CNY -41.55 million, largely due to poor wind resource conditions leading to a significant drop in operating revenue[17] - Net profit decreased by 313.23% from CNY -8.13 million to CNY -33.59 million, reflecting the same reasons affecting operating profit[17] Assets and Liabilities - Total assets at the end of the reporting period were CNY 9,235,100,157.83, a decrease of 3.08% compared to the end of the previous year[7] - Cash and cash equivalents decreased by 30.53% from CNY 537.17 million to CNY 373.16 million, primarily due to expenditures related to the Sun Mountain Phase V Wind Farm and Changshantou 99MW Wind Power Project[15] - Accounts receivable increased by 235.40% from CNY 16.43 million to CNY 55.11 million, mainly due to an increase in bank acceptance bills received for settled payments from July to September[15] - Inventory decreased by 49.12% from CNY 354.88 million to CNY 180.55 million, attributed to the sale of completed products[15] - Construction in progress increased by 79.88% from CNY 377.64 million to CNY 679.28 million, primarily due to the construction of the Sun Mountain Phase V Wind Farm and Changshantou 99MW Wind Power Project[15] - Other payables decreased by 63.75% from CNY 121.35 million to CNY 43.99 million, due to the repayment of debts to China Aluminum Ningxia Energy Group[15] - Prepayments decreased by 42.73% from CNY 62.50 million to CNY 35.79 million, primarily due to contract settlements[15] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 37,929[11] - The largest shareholder, Chalco Ningxia Energy Group Co., Ltd., held 52.91% of the shares, totaling 286,597,495 shares[11] Government Support - The company received government subsidies amounting to CNY 9,051,499.94 during the reporting period[8] Future Projections and Commitments - The company is in the process of a non-public offering of A-shares, which has not yet received approval from the State-owned Assets Supervision and Administration Commission[18] - The net profit attributable to the shareholders of Ningxia Silver Star Energy for the years 2014, 2015, 2016, and 2017 is projected to be CNY 46.1543 million, CNY 54.5987 million, CNY 63.58 million, and CNY 100.3279 million respectively[21] - If the actual net profit of the six wind power plants falls below the forecasted net profit, Ningxia Silver Star Energy is entitled to request compensation from Chalco Ningxia Energy[21] - The projected net profit for the six wind power plants during the compensation period must be disclosed within five days if it falls short of the promised profit[21] - The compensation shares to be repurchased by Chalco Ningxia Energy will be calculated based on the formula provided, ensuring that the number of shares does not decrease during the compensation period[22] - Ningxia Silver Star Energy will hold a shareholders' meeting within two months after determining the number of shares to be repurchased[22] - Chalco Ningxia Energy must return cash dividends for repurchased shares during the compensation period[22] - The company plans to complete the transfer of project-related work from Chalco Ningxia Energy by the end of 2015[22] Compliance and Governance - 中铝宁夏能源全资子公司正在进行多个风电项目的建设，包括49.5MW的定边冯地坑风电场一期和二期项目，以及50MW的白兴庄和朱庄风电场项目[23] - 中铝宁夏能源承诺在未来五年内出售光伏发电及相关产品生产类资产，以消除与上市公司的同业竞争[23] - 截至目前，中铝宁夏能源集团正在履行其承诺，确保银星能源的独立性，包括人员、资产、机构、业务和财务的独立[23] - 报告期内，公司未进行证券投资、衍生品投资或持有其他上市公司股权[25][26] - 报告期内，公司无违规对外担保情况[28] - 控股股东及其关联方对上市公司的非经营性占用资金情况为零[29] - 报告期内，公司接待了个人投资者的调研，讨论了公司的生产经营情况[27]