格力地产(600185) - 2014 Q2 - 季度财报

Financial Performance - The company reported a revenue of 868.72 million RMB for the first half of 2014, a decrease of 9.97% compared to the same period last year[25]. - Net profit attributable to shareholders was 134.19 million RMB, down 28.65% year-on-year[25]. - Basic earnings per share decreased to 0.23 RMB, reflecting a decline of 30.30% from the previous year[22]. - The weighted average return on net assets was 4.43%, down 2.70 percentage points from the same period last year[22]. - Total operating revenue for the first half of 2014 was CNY 868,720,810.31, a decrease of 9.96% compared to CNY 964,923,502.46 in the same period last year[79]. - Net profit for the first half of 2014 was CNY 134,191,398.10, a decline of 28.38% from CNY 187,374,682.05 in the previous year[79]. - The comprehensive income totalled CNY 51,247,156.02, significantly lower than CNY 176,005,377.84 in the previous year, indicating a decline in overall financial performance[79]. - The company reported a significant increase in cash paid for purchasing goods and services, rising to $838.91 million from $462.73 million, indicating an 81.2% increase[85]. - The company reported a net cash outflow of $143.02 million from operating activities in the first half of 2014, compared to a net outflow of $76.49 million in the same period last year[89]. Assets and Liabilities - Total assets at the end of the reporting period were 15.71 billion RMB, an increase of 0.25% from the end of the previous year[25]. - The total liabilities of Gree Real Estate were CNY 12,772,994,835.73, up from CNY 12,669,739,773.83, indicating an increase of approximately 0.81%[74]. - The company's equity totaled CNY 2,937,895,981.53, down from CNY 3,002,167,705.51, reflecting a decrease of about 2.15%[74]. - The total equity at the beginning of the year was CNY 3,002,167,705.51, indicating a decline in equity over the first half of 2014[91]. - The total equity attributable to the parent company at the end of the reporting period is CNY 2,937,895,981.53, a decrease of CNY 64,271,723.98 compared to the beginning of the year[91]. - The total amount of long-term receivables increased to ¥490,056,912.75, up from ¥439,795,306.72 at the beginning of the period[193]. Cash Flow - The company experienced a net cash flow from operating activities of -392.92 million RMB, indicating a significant decline compared to 54.35 million RMB in the previous year[25]. - Cash inflow from operating activities decreased to $727.43 million from $1.18 billion, a decline of approximately 38.3%[85]. - Cash outflow from operating activities was $1.12 billion, slightly down from $1.13 billion, resulting in a net cash flow from operating activities of -$392.92 million compared to $54.35 million in the previous period[85]. - Cash inflow from investment activities was $51.68 million, while cash outflow was $1.64 million, leading to a net cash flow from investment activities of $50.04 million[86]. - Cash inflow from financing activities totaled $1.14 billion, down from $2.99 billion, with cash outflow of $1.21 billion compared to $1.42 billion previously, resulting in a net cash flow from financing activities of -$72.57 million[86]. Shareholder Information - As of the report date, Gree Group holds 300 million shares of the company, representing 51.94% of total shares, with no pledged shares[59]. - The company has a total of 24,237 shareholders, with the top ten shareholders holding significant stakes, including Gree Group at 51.94%[63]. - Gree Group plans to transfer 51.94% of its shares in the company to a newly established wholly-owned company, while retaining actual control[56]. - The company distributed cash dividends of ¥2 per 10 shares, totaling ¥115,518,880.00 for the 2013 fiscal year[43]. Real Estate Operations - The real estate segment generated 854.28 million RMB in revenue, a decrease of 9.97% year-on-year, with a gross margin of 31.25%[31]. - The company continues to focus on its development strategy centered on Zhuhai, emphasizing investments in real estate and modern service industries[27]. - Gree Real Estate achieved a brand value ranking among the top 50 real estate developers in China in 2013, establishing a strong reputation nationwide[34]. - The company acquired three land parcels in Zhuhai for a total price of ¥44,951,000, with areas ranging from 30,831.51 to 53,100.31 square meters[51]. Governance and Compliance - The company has not faced any significant discrepancies with the regulatory requirements for corporate governance as per the China Securities Regulatory Commission[55]. - The company’s governance structure has been continuously improved, with regular meetings held to ensure compliance and transparency[55]. - The company has not reported any administrative penalties or public reprimands from the China Securities Regulatory Commission[54]. - The company has strengthened its investor relations management, including hosting online briefings and maintaining communication channels with investors[55]. Accounting Policies - The financial statements are prepared based on the going concern assumption and comply with the relevant accounting standards, reflecting the company's financial position as of June 30, 2014[107]. - The company’s accounting policies are based on the accrual basis, with historical cost as the measurement basis for most financial statements[105]. - The company recognizes revenue from sales of goods when the ownership risks and rewards have been transferred to the buyer, and the related economic benefits are likely to flow into the company[151]. - The company assesses assets for impairment at the balance sheet date, estimating recoverable amounts and conducting impairment tests when there are indications of impairment[157]. Investments and Subsidiaries - The company holds a 1.15% stake in Gree Electric Appliances, with an initial investment cost of ¥2,757,855.21 and a year-end book value of ¥1,014,624,269.65, reflecting a report period profit of ¥51,678,655.51[36]. - Gree Real Estate's subsidiary, Zhuhai Gree Real Estate Co., Ltd., reported total assets of ¥1,508,795,000 and a net profit of ¥10,614,000[41]. - The company has established several wholly-owned subsidiaries, including Xi'an Gree Real Estate Development Co., Ltd. with a registered capital of CNY 1,000 million[165]. - Gree Real Estate's subsidiary, Gree Building Materials, has a registered capital of 5,000 million CNY and focuses on construction materials and engineering services[172].