Financial Performance - For the first half of 2021, the company reported revenue of approximately RMB 563.68 million, a decrease of 27.2% compared to RMB 774.25 million in the same period of 2020[10]. - The gross profit for the first half of 2021 was approximately RMB 345.35 million, down 29.3% from RMB 488.44 million in the first half of 2020[10]. - The company incurred a loss of RMB 153.30 million in the first half of 2021, compared to a loss of RMB 33.49 million in the same period of 2020[10]. - Revenue from electricity sales decreased by approximately 27.5% to RMB 532,676,000 for the six months ended June 30, 2021, compared to RMB 734,915,000 for the same period in 2020[22]. - The company's gross profit decreased by approximately 29.3% to RMB 345,353,000 for the six months ended June 30, 2021, compared to RMB 488,442,000 for the same period in 2020[26]. - The net loss for the period was RMB 153.298 million, compared to a net loss of RMB 33.487 million in the prior year, representing a significant increase in losses[121]. - The company reported a loss per share of RMB 1.02 for the period, compared to a loss per share of RMB 0.34 in the previous year[120]. Operational Capacity - As of June 30, 2021, the total installed capacity of the company's solar power plants was 838.8 MW, with a total power generation of approximately 718,774 MWh, an increase of 2.4% year-on-year[7]. - The total installed capacity of completed solar power plants owned by the company as of June 30, 2021, is 838.8 MW, with 29 plants across various provinces in China[13]. - The installed capacity of completed solar power plants as of June 30, 2021, was 838.8 MW, down from 1,178.8 MW as of December 31, 2020[37]. Financial Position - Total liabilities as of June 30, 2021, were approximately RMB 69.54 billion, a reduction of about RMB 2.65 billion from December 31, 2020[7]. - The total assets of the company as of June 30, 2021, were approximately RMB 115.03 billion, down from RMB 143.03 billion at the end of 2020[10]. - Accounts receivable increased by approximately 15.1% to RMB 4,100,389,000 as of June 30, 2021, from RMB 3,561,766,000 as of December 31, 2020[44]. - The company's liabilities-to-equity ratio was approximately 1.22 as of June 30, 2021, compared to 1.36 as of December 31, 2020[49]. - The company's equity attributable to owners was RMB 4.466 billion, down from RMB 4.621 billion at the end of 2020, a decrease of 3.3%[126]. Cash Flow - The net cash flow from operating activities for the six months ended June 30, 2021, was RMB 399,849,000, compared to RMB 604,165,000 for the same period in 2020, representing a decrease of approximately 33.8%[141][142]. - The net cash flow from investing activities for the six months ended June 30, 2021, was RMB 800,707,000, a significant increase compared to RMB 138,674,000 in the previous year[166]. - The net cash flow used in financing activities for the six months ended June 30, 2021, was RMB 1,176,255,000, compared to RMB 813,672,000 in the same period of 2020, indicating an increase of approximately 44.7%[167]. - The company raised RMB 475,000,000 from new loans and borrowings during the six months ended June 30, 2021, compared to RMB 322,500,000 in the same period of 2020[167]. - The company repaid loans and borrowings totaling RMB 1,244,875,000 during the current period, which is an increase from RMB 831,022,000 in the previous year[167]. Strategic Focus - The company aims to optimize its solar power asset structure and enhance the efficiency of power generation equipment in the future[7]. - The company is actively exploring investment opportunities in other clean energy sectors and expanding its solar and wind power operation and maintenance services[7]. - The company plans to continue its focus on clean energy business and contribute to environmental protection through green low-carbon energy development[7]. - The company plans to continue advancing its solar power plant operations strategy and optimize asset allocation efficiency to ensure cash flow security[67]. - The company will continue to explore investment opportunities in other clean energy sectors to enhance asset returns and shareholder value[67]. Employee and Governance - The company has approximately 660 employees as of June 30, 2021, an increase from 622 employees as of December 31, 2020[63]. - The company has adopted the corporate governance code as per the listing rules, ensuring investor confidence[108]. - The company believes that consolidating the roles of Chairman and CEO under the same individual enhances internal leadership consistency[111]. Share Option Plan - The total number of shares that can be issued upon the exercise of all options granted under the share option plan shall not exceed 10% of the total issued shares of the company at the time the plan was adopted, which is 176,266,251 shares[76]. - The share option plan is valid for ten years from the date of adoption, which is July 21, 2019, and no further options can be granted after the expiration date[84]. - The options granted but not exercised as of June 30, 2021, include 16,000,000 shares at an exercise price of HKD 0.30, representing 0.11% of the total issued shares[87]. - The company may grant options exceeding the 10% limit to specified participants with shareholder approval, detailing the number and terms of the options in a circular to shareholders[79].
江山控股(00295) - 2021 - 中期财报