FULING POWER(SH:600452)2024-08-15 09:41Financial Performance - The company's operating revenue for the first half of 2024 was CNY 1,473,178,228.70, a decrease of 14.22% compared to CNY 1,717,349,710.45 in the same period last year[15] - The net profit attributable to shareholders of the listed company was CNY 196,125,567.64, down 24.20% from CNY 258,740,132.90 year-on-year[15] - Basic earnings per share for the first half of 2024 were CNY 0.18, a decrease of 25.00% compared to CNY 0.24 in the same period last year[16] - The total profit for the period was 249 million RMB, with a net profit of 196 million RMB, resulting in a basic earnings per share of 0.18 RMB[22] - The company's net profit for the first half of 2024 was CNY 196,125,567.64, a decrease of 24.2% compared to CNY 258,740,132.90 in the same period of 2023[56] - Operating profit for the first half of 2024 was CNY 243,383,889.60, down from CNY 310,596,844.43 in the previous year, reflecting a decline of 21.6%[56] - The company reported a net cash inflow from operating activities of RMB 726,320,122.85, significantly higher than RMB 284,521,381.33 in the previous period[199] Cash Flow and Assets - The net cash flow from operating activities increased significantly to CNY 726,320,122.85, representing a 155.28% increase compared to CNY 284,521,381.33 in the previous year[15] - The total assets of the company at the end of the reporting period were CNY 6,930,595,711.02, an increase of 4.18% from CNY 6,652,311,565.67 at the end of the previous year[15] - The company's cash and cash equivalents at the end of the reporting period amounted to ¥2,820,273,986.93, an increase from ¥2,273,706,287.31 at the beginning of the period, reflecting a growth of approximately 24.1%[200] - The company's net cash and cash equivalents increased to CNY 2,820,273,986.93 from CNY 2,273,706,287.31, representing a growth of approximately 24.14%[53] Shareholder Information - The total number of shares after the stock dividend distribution was 1,097,529,753 shares[17] - The company distributed 439,011,901 shares as bonus shares on July 10, 2024, increasing the total share capital to 1,536,541,654 shares[48] - The total number of ordinary shareholders reached 24,833 by the end of the reporting period[50] - The top shareholder, Chongqing Chuandong Power Group Co., Ltd., held 457,101,474 shares, accounting for 41.65% of the total shares[50] Liabilities and Provisions - The total liabilities as of June 30, 2024, were CNY 1,890,736,101.70, up from CNY 1,669,419,131.11, marking an increase of approximately 13.23%[54] - The company reported a total of CNY 22,913,862.90 in receivables financing at the end of the period, up from CNY 4,520,000.00 at the beginning of the period[127] - The company reported a total of CNY 1,538,866,335.70 in accounts payable at the end of the period, up from CNY 1,473,126,516.74 at the beginning of the period[164] - The company has a total of CNY 907,337,813.79 in overdue accounts payable, primarily due to payment terms not being reached[164] Income and Expenses - The company reported a total of CNY 994,270.88 in taxes and surcharges for the current period, a decrease from CNY 1,921,836.63 in the previous period[185] - The total management expenses for the current period were CNY 46,501,487.30, down from CNY 49,951,434.16 in the previous period, showing a reduction of approximately 4.9%[187] - The company recorded financial expenses of CNY 442,769.13 in interest expenses, significantly lower than CNY 3,622,750.00 in the previous period[188] - The total investment income for the current period was CNY 1,440,029.05, compared to CNY 3,598,069.95 in the previous period, indicating a decrease of approximately 60%[191] Taxation - The company expects to maintain a corporate income tax rate of 15% due to its eligibility for tax incentives under the Western Development policy until December 31, 2030[115] - The total income tax expense for the current period was RMB 53,038,370.66, slightly down from RMB 53,350,057.01 in the previous period[195] - The company has confirmed deferred tax assets based on the likelihood of sufficient taxable profits to offset losses, requiring significant management judgment[113] Compliance and Governance - The company did not propose any profit distribution or capital reserve transfer for the reporting period[34] - There were no significant lawsuits or arbitration matters during the reporting period, indicating a stable legal standing for the company[44] - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period, reflecting good financial governance[44] - The integrity status of the company and its controlling shareholders remained good during the reporting period, with no violations reported[44] Environmental and Social Responsibility - The company achieved a 100% environmental impact assessment rate for 110 kV and above power grid construction projects, with no violations reported in environmental protection during the reporting period[36] - The company provided energy efficiency services to 148 enterprise clients, effectively reducing energy costs through tailored energy plans[37] - The company is committed to avoiding competition with its subsidiaries in energy-saving businesses, ensuring compliance with legal regulations[39] Investment and Development - The company has a strong competitive advantage in the power supply sector due to its established network and experienced management team[21] - The company is actively involved in energy-saving services, which is a government-supported industry with significant growth potential[21] - The company has developed a number of demonstration projects in the energy-saving sector, enhancing its market position and resource integration capabilities[21]