Financial Position - As of June 30, 2020, the total assets of Tianjin Jinran Public Utilities Company amounted to RMB 2,221,499,931.55, a decrease from RMB 2,538,184,952.44 as of December 31, 2019, representing a decline of approximately 12.5%[2] - The company's total liabilities decreased to RMB 452,058,213.30 from RMB 780,139,867.76, indicating a reduction of about 42%[4] - The total current assets as of June 30, 2020, were RMB 1,287,078,686.40, down from RMB 1,577,138,815.84 at the end of 2019, a decrease of approximately 18.4%[2] - The company's total shareholders' equity as of June 30, 2020, was RMB 1,769,441,718.25, compared to RMB 1,755,039,563.30 in the same period of 2019, reflecting a growth of approximately 0.8%[13] - The company's total liabilities decreased to RMB 449,351,294.15, down 42.14% from RMB 777,432,948.61 at the end of 2019[23] Revenue and Profit - For the first half of 2020, the operating revenue was RMB 676,488,965.42, compared to RMB 778,935,036.73 in the same period of 2019, reflecting a decrease of approximately 13.1%[8] - The net profit for the first half of 2020 was RMB 1,683,996.62, slightly down from RMB 1,771,681.27 in the first half of 2019, showing a decline of about 4.9%[8] - Total revenue for the first half of 2020 was RMB 751,687,325.36, an increase from RMB 708,055,816.78 in the same period of 2019, representing a growth of approximately 6.1%[15] - The company’s investment income for the first half of 2020 was RMB 3,509,790.82, down from RMB 12,958,082.10 in the same period of 2019, indicating a decline of about 72.9%[8] - Net profit for the first half of 2020 was RMB 1,927,733.22, down 27.58% from RMB 2,662,718.56 in the first half of 2019[25] Cash Flow - The net cash flow from operating activities for the first half of 2020 was a negative RMB 255,007,108.38, compared to a positive RMB 269,997,171.39 in the first half of 2019[15] - Cash inflow from investment activities was RMB 753,443,062.74, slightly down from RMB 764,713,371.63 in the previous year[17] - The net cash flow from investment activities increased significantly to RMB 732,691,657.51 from RMB 160,845,039.65 year-on-year[17] - The company reported a significant increase in cash outflow for purchasing goods and services, totaling RMB 935,644,601.67, compared to RMB 340,526,980.09 in the same period last year[15] - The net increase in cash and cash equivalents for the first half of 2020 was RMB 477,697,115.07, an increase from RMB 408,814,655.42 in the first half of 2019, representing a growth of approximately 16.8%[35] Assets and Liabilities - The company’s accounts payable decreased significantly to RMB 97,988,333.89 from RMB 395,694,120.33, a reduction of approximately 75.2%[4] - Current liabilities decreased to RMB 344,716,830.67, down 48.66% from RMB 670,349,213.70 at the end of 2019[23] - The company maintained its share capital at RMB 183,930,780.00, unchanged from the end of 2019[23] - The company’s restricted cash for environmental protection guarantees amounted to RMB 939,653.46 as of June 30, 2020, slightly up from RMB 938,222.12 at the end of 2019[168] Accounting Policies - The financial report reflects the company's financial position as of June 30, 2020, and the operating results and cash flows for the six-month period ending on that date[56] - The financial statements are prepared based on the historical cost principle, except for certain financial instruments, and impairment provisions are made as necessary[51] - The accounting policies and estimates are consistent with those used in the preparation of the 2019 financial statements, including provisions for bad debts and depreciation of fixed assets[53] - The company follows the accounting standards set by the Ministry of Finance, ensuring the financial statements are true and complete[56] Inventory and Receivables - The inventory balance as of June 30, 2020, was RMB 4,988,427.53, slightly decreased from RMB 5,045,314.04 as of December 31, 2019[192] - Accounts receivable as of June 30, 2020, amounted to RMB 267,359,115.69, an increase from RMB 257,408,694.41 as of December 31, 2019[177] - The aging analysis of accounts receivable shows that RMB 267,994,031.49 is within one year, compared to RMB 255,400,003.03 as of December 31, 2019, indicating a growth of approximately 14.3%[177] - The provision for bad debts increased to RMB 11,582,265.03 as of June 30, 2020, from RMB 11,504,642.48 as of December 31, 2019[182] - The company reported no impairment provisions for fixed assets during the first half of 2020[199]
天津津燃公用(01265) - 2020 - 中期财报