吉林高速(601518) - 2024 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2024 was CNY 539,390,993.75, a decrease of 6.39% compared to CNY 576,198,476.34 in the same period last year[9]. - The net profit attributable to shareholders of the listed company was CNY 244,125,626.39, representing an increase of 4.99% from CNY 232,518,175.49 in the previous year[9]. - The net cash flow from operating activities decreased by 44.31%, amounting to CNY 222,949,645.61 compared to CNY 400,306,448.91 in the same period last year[9]. - The total assets at the end of the reporting period were CNY 6,768,714,303.04, an increase of 2.81% from CNY 6,583,518,377.36 at the end of the previous year[9]. - The net assets attributable to shareholders of the listed company increased by 1.47%, reaching CNY 5,091,723,701.62 compared to CNY 5,017,747,860.44 at the end of the previous year[9]. - The basic earnings per share for the first half of 2024 was CNY 0.13, an increase of 8.33% from CNY 0.12 in the same period last year[10]. - The weighted average return on net assets decreased by 0.29 percentage points to 4.78% compared to 5.07% in the previous year[10]. - The company achieved total assets of CNY 676,871.43 million, a year-on-year increase of 14.89%[15]. - Operating revenue was CNY 53,939.10 million, a decrease of 6.39% compared to the previous year[15]. - Net profit attributable to shareholders was CNY 24,412.56 million, an increase of 4.99% year-on-year[15]. - Earnings per share rose to CNY 0.13, reflecting an 8.33% increase[15]. - The company maintained a net asset return rate of 4.78%, down by 0.29 percentage points[15]. Cash Flow and Liquidity - The operating cash flow net amount was CNY 222,949,645.61, a decrease of 44.31% compared to the previous year[18]. - The company's cash and cash equivalents at the end of the period amounted to ¥1,708,798,626.54, representing 25.25% of total assets, an increase of 12.98% compared to the previous year[20]. - The ending balance of cash and cash equivalents increased to CNY 1,705,433,155.31, up from CNY 912,878,789.54 year-on-year[73]. - The company received CNY 400,000,000.00 in borrowings, consistent with the previous year[74]. - Cash paid for debt repayment was CNY 400,000,000.00, down from CNY 800,000,000.00 in the same period last year[74]. - The cash flow from operating activities for the parent company was CNY 227,400,745.39, a decline of 26% from CNY 306,339,123.85 in the previous year[74]. Investments and Assets - Research and development expenses increased by 383.11% to CNY 1,461,881.46, indicating a focus on innovation[18]. - The company holds a 63.8% stake in Changchun Expressway Co., enhancing its operational capacity[14]. - The company has a total of CNY 121,583,410.25 in fixed assets without completed property rights certificates, which are currently being processed[177]. - The total fixed assets at the end of the period amount to CNY 4,309,399,483.72, a decrease of about 2.53% from CNY 4,421,635,391.08 at the beginning of the period[173]. - The total value of investment properties at the end of the period is CNY 46,812,492.52, down from CNY 47,707,556.59 at the beginning of the period, representing a decrease of approximately 1.87%[172]. - The company has long-term equity investments totaling CNY 47,500,000.00, with a corresponding impairment provision of the same amount[169]. Shareholder and Equity Information - The company did not propose any profit distribution plan or capital reserve transfer to share capital during this reporting period[2]. - The company distributed CNY 170,149,785.21 to shareholders during the first half of 2024, reflecting a significant allocation of profits[79]. - The total equity attributable to shareholders at the end of the first half of 2024 is CNY 5,401,401,981.30, with a total equity of CNY 5,499,031,063.18[77]. - Jilin Provincial Highway Group Co., Ltd. holds 54.35% of the shares, making it the largest shareholder[49]. - The company has no changes in share capital structure during the reporting period[46]. Risks and Compliance - The company faces risks related to highway policy changes that could impact toll revenue, as well as financial risks due to reliance on a single industry[25]. - There were no significant risks or non-operating fund occupation by controlling shareholders or related parties reported[2]. - The company has maintained compliance with commitments regarding related party transactions and competition avoidance with its controlling shareholder, Jilin Provincial Highway Group[32]. - The company did not report any violations regarding guarantees during the reporting period[33]. - The company has no ongoing or planned toll road projects, which may limit future growth in toll revenue[25]. Accounting Policies and Financial Reporting - The financial statements are prepared based on the going concern assumption, with no significant doubts regarding the company's ability to continue operations for the next 12 months[89]. - The company adheres to the accounting standards set by the Ministry of Finance and ensures that its financial reports reflect a true and complete picture of its financial status and operating results[91]. - The company uses a 12-month operating cycle for classifying assets and liabilities[93]. - The company has established a materiality threshold for accounts receivable, set at amounts exceeding RMB 5 million or 10% of the total accounts receivable balance[95]. - The company recognizes expected credit losses based on a weighted average of credit loss probabilities, reflecting factors such as past events and future economic conditions[103]. Employee and Compensation Information - The total employee compensation payable at the end of the period was 3,020,496.08 RMB, down from 8,429,195.86 RMB at the beginning of the period[188]. - The total short-term employee benefits payable at the end of the period was 53,796,876.56 RMB, reflecting a decrease from 6,375,984.50 RMB at the beginning of the period[190]. Other Financial Information - The company reported a significant decrease in prepaid accounts by 59.65% to ¥1,444,436.38, indicating reduced rental income from customers[21]. - The company has a tax rate of 25.00% for corporate income tax, with a reduced rate of 15% applicable to certain subsidiaries[143]. - The company has not reported any significant write-offs for receivables or other receivables during the period[162].