晋控电力(000767) - 2024 Q2 - 季度财报

Financial Performance - The company's operating revenue for the reporting period was ¥8,100,099,519.37, a decrease of 21.32% compared to the previous year[11]. - The net profit attributable to shareholders was -¥376,076,115.36, representing a significant decline of 1,609.47% year-on-year[11]. - The net cash flow from operating activities was -¥1,453,065,516.40, a decrease of 77.14% compared to the same period last year[11]. - The total assets at the end of the reporting period were ¥58,422,516,834.51, down 3.46% from the end of the previous year[11]. - The net assets attributable to shareholders increased by 2.87% to ¥11,437,200,039.75 compared to the previous year[11]. - The basic earnings per share were -¥0.1821, a decrease of 251.54% year-on-year[11]. - The diluted earnings per share were also -¥0.1821, reflecting the same decline as basic earnings per share[11]. - The weighted average return on equity was -9.19%, a decrease of 6.88% compared to the previous year[11]. - The company reported a net loss of CNY 1.86 billion in retained earnings, compared to a loss of CNY 1.30 billion previously, indicating a worsening of approximately 43.07%[113]. - The company reported a total comprehensive income of -376,076,115.36 CNY for the period, reflecting a challenging financial environment[131]. Revenue and Costs - Revenue for the reporting period was approximately ¥8.1 billion, a decrease of 21.32% compared to ¥10.295 billion in the same period last year, primarily due to lower electricity volume and prices[18]. - The company's operating costs decreased by 15.15% to approximately ¥7.76 billion, attributed to lower fuel costs during the reporting period[18]. - The company's total revenue for the electricity segment was approximately ¥6.81 billion, a decrease of 11.75% compared to the same period last year[21]. - The gross profit margin for the electricity segment was 9.86%, down by 9.18% year-on-year[21]. - The revenue from coal-fired electricity was approximately ¥5.91 billion, reflecting a 12.00% decrease year-on-year[21]. - Wind power revenue decreased by 24.23% to approximately ¥308.51 million, with a gross profit margin of 42.02%[21]. Cash Flow and Investments - The company reported a net cash flow from operating activities of approximately -¥1.45 billion, a decrease of 77.14% compared to -¥820 million in the previous year[18]. - The company’s cash flow from financing activities increased by 210.43% to approximately ¥906 million, primarily due to reduced cash payments for debt repayment[18]. - The company reported an investment income of approximately ¥121.97 million, accounting for 26.30% of total profit[22]. - The company’s investment amount for the reporting period reached ¥292,500,000, a significant increase of 290% compared to ¥75,000,000 in the same period last year[28]. - The company’s cash outflow for investment activities was 5,113,937,000.91 CNY, significantly higher than 3,018,750,266.61 CNY in the previous year, indicating increased investment efforts[128]. Environmental and Social Responsibility - The company is committed to green development and aims for low-carbon growth by adhering to strict pollutant discharge standards[36]. - The company has complied with environmental protection laws and obtained pollution discharge permits for all active thermal power plants[41]. - The company reported that its emissions of major pollutants, such as sulfur dioxide and nitrogen oxides, are within the limits set by local environmental standards[42]. - The company is actively involved in poverty alleviation through solar photovoltaic projects, providing annual support of 3,000 CNY per household for 1,600 households in Qilihe Village and 667 households in Qinxian County, with a commitment of 20 years[50]. - The company has established a stable employment mechanism for 129 villagers in Longgong Village, ensuring their employment in internal positions such as catering and cleaning[51]. Subsidiaries and Business Operations - Major subsidiaries include Shanxi Linfen Thermal Power Co., Ltd., which reported a net loss of ¥178,183,611.45, and Shanxi Jin Control Power Tashan Power Co., Ltd., with a net profit of ¥65,708,248.42[33]. - The total assets of Shanxi Jin Control Power New Energy Co., Ltd. amounted to ¥14,741,386,723.64, with a net profit of ¥99,158,617.10 for the reporting period[34]. - The company’s subsidiaries are involved in various sectors, including thermal power production, renewable energy, and coal sales, contributing to diverse revenue streams[34]. Financial Position and Ratios - The company's current ratio is 0.82, an increase of 2.50% compared to the previous year[109]. - The debt-to-asset ratio stands at 81.17%, a decrease of 0.97% from the previous year[109]. - The EBITDA to total debt ratio is 3.86%, down by 1.57% from the previous year[109]. - The interest coverage ratio has dropped to 0.41, a decline of 65.55% compared to the previous year[109]. - The company has a total current asset of 17,320,080,081.50 yuan, down from 19,060,105,897.24 yuan in the previous year[111]. Corporate Governance and Shareholder Information - The company held its annual and temporary shareholder meetings with participation rates of 45.68% and 45.60%, respectively[38]. - The company has no current employee stock ownership plans or other incentive measures in place[40]. - The total number of shareholders at the end of the reporting period was 110,916[95]. - The state-owned enterprise, Jinneng Holding Coal Industry Group Co., Ltd., holds 29.43% of the shares, totaling 905,653,810 shares[95]. - The company has not issued new shares or conducted any share buybacks during the reporting period[94]. Accounting Policies and Financial Reporting - The company prepares its financial statements based on the assumption of going concern, following the relevant accounting standards and regulations[151]. - The financial statements comply with the requirements of the accounting standards and provide a true and complete reflection of the company's financial position and results[154]. - The company distinguishes between business combinations under common control and those not under common control, applying different accounting treatments accordingly[159]. - The company recognizes foreign exchange differences in profit or loss, except for certain capitalized assets and hedging instruments[166]. - The company emphasizes the importance of risk management and investment strategies in the classification and measurement of financial instruments[170].