ZJJH(SH:600160)2015-08-20 16:00Financial Performance - The company's operating revenue for the first half of 2015 was CNY 4,421,520,788.56, a decrease of 5.22% compared to CNY 4,665,016,062.05 in the same period last year[20]. - Net profit attributable to shareholders of the listed company increased by 28.26% to CNY 85,621,562.59 from CNY 66,756,792.86 year-on-year[20]. - The net profit after deducting non-recurring gains and losses surged by 204.18% to CNY 72,587,166.54 compared to CNY 23,862,856.22 in the previous year[20]. - The total profit for the period was 104.02 million RMB, reflecting a year-on-year growth of 27.65%[26]. - Basic earnings per share were 0.047 RMB, up 27.03% from the previous year[21]. - The weighted average return on equity increased to 1.18%, up 0.29 percentage points year-on-year[21]. - The company reported a total profit of ¥104,018,955.45, up from ¥81,494,968.71, which is an increase of approximately 27.6% year-over-year[86]. - Net profit rose to ¥86,596,745.77 from ¥65,164,466.80, reflecting an increase of around 32.9% year-over-year[88]. Cash Flow and Liquidity - The net cash flow from operating activities reached CNY 157,718,071.83, representing a significant increase of 318.57% from CNY 37,679,794.17 in the same period last year[20]. - Total cash inflow from operating activities amounted to 5,138,863,153.99 RMB, while cash outflow was 4,981,145,082.16 RMB, resulting in a net inflow of 157,718,071.83 RMB[94]. - The total cash and cash equivalents at the end of the period decreased to 635,688,929.19 RMB from 989,971,358.91 RMB, indicating a decline in liquidity[95]. - The company received 571,393,388.28 RMB from borrowings, which was lower than the previous period's 740,960,600.00 RMB, suggesting a cautious approach to leveraging[94]. - The company's cash and cash equivalents at the end of the period totaled ¥720,940,551.35, down from ¥824,037,038.23 at the beginning of the period, representing a decrease of approximately 12.5%[172]. Assets and Liabilities - Total assets at the end of the reporting period amounted to CNY 9,063,541,239.27, reflecting a growth of 1.19% from CNY 8,957,369,711.68 at the end of the previous year[20]. - The company's total current assets amount to 2,958,542,336.85 RMB, an increase from 2,870,137,735.80 RMB at the beginning of the period[79]. - Current liabilities rose to ¥1,718,429,843.28, compared to ¥1,533,582,060.26, reflecting an increase of about 12.1%[81]. - Total liabilities reached ¥1,863,712,000.17, an increase from ¥1,673,894,178.10, indicating a growth of approximately 11.3%[81]. - The company's equity attributable to shareholders decreased to ¥7,173,027,463.11 from ¥7,258,055,677.22, a decline of about 1.2%[81]. Investments and Projects - The company has committed CNY 33.98 million to the 20kt/a TFE and downstream products project, which is completed but has not met expected revenue due to economic downturns and declining sales prices[50]. - The 49kt/a new refrigerant project has received CNY 156.83 million in funding, is completed, but also failed to meet expected revenue targets due to market conditions[50]. - The company has invested CNY 7.41 million in the 30kt/a ODS replacement technology upgrade project, which is completed but did not meet expected revenue due to economic challenges[50]. - The company has a total of CNY 52.18 million in unspent funds from its fundraising activities, indicating potential for future investments[51]. Shareholder and Governance - The company did not propose any profit distribution or capital reserve transfer to increase share capital during the reporting period[4]. - The company has committed to avoiding competition with its controlling shareholders[64]. - The largest shareholder, Juhua Group, holds 983,558,206 shares, representing 54.31% of total shares, with a decrease of 10,000,000 shares during the reporting period[71]. - The total number of shareholders as of the end of the reporting period was 79,761[70]. - There were no penalties or rectifications for the company or its major stakeholders during the reporting period[66]. Research and Development - Research and development expenditure decreased by 25.11% to CNY 44,731,215.77 from CNY 59,725,467.33 in the previous year[33]. - The company aims to accelerate the development of new products and technologies, including high-end polymers and electronic chemical materials[29]. Inventory Management - The total inventory at the end of the period is RMB 755,115,297.32, down from RMB 812,702,591.81 at the beginning of the period, representing a decrease of approximately 7.1%[200]. - The raw materials inventory decreased from RMB 257,236,945.21 to RMB 202,094,808.33, a decline of about 21.5%[200]. - The finished goods inventory decreased from RMB 483,789,473.68 to RMB 439,600,980.34, a reduction of about 9.1%[200]. - The total provision for inventory write-downs is RMB 24,361,561.90, compared to RMB 31,533,260.54 at the beginning of the period, indicating a decrease of approximately 22.8%[200]. Financial Management and Accounting Policies - The financial statements are prepared based on the assumption of going concern, with no significant doubts regarding the company's ability to continue operations in the next 12 months[112]. - The accounting policies adhere to the enterprise accounting standards, ensuring a true and complete reflection of the company's financial status and operating results[114]. - The company recognizes gains or losses from changes in the fair value of financial assets or liabilities, with specific treatments for different categories[127]. - Bad debt provisions for receivables are determined based on aging analysis, with specific percentages applied to different aging categories[136].