HZSY(SH:600191)2015-08-28 16:00Financial Performance - The company's operating income for the first half of 2015 was CNY 29,221,093.62, a decrease of 74.07% compared to CNY 112,698,505.28 in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2015 was CNY 157,093,206.71, an increase of 477.76% from CNY 27,190,038.95 in the previous year[17]. - The net cash flow from operating activities was negative at CNY -45,484,031.84, worsening by 120.15% compared to CNY -20,660,874.79 in the same period last year[17]. - Basic earnings per share for the first half of 2015 were CNY 0.3239, up 477.36% from CNY 0.0561 in the same period last year[18]. - The company reported a significant increase in net profit after deducting non-recurring gains and losses, reaching CNY 157,488,302.70, up 862.25% from CNY 16,366,751.79[17]. - Total operating revenue for the first half of 2015 was CNY 29,221,093.62, a decrease of 74.1% compared to CNY 112,698,505.28 in the same period last year[74]. - Net profit for the first half of 2015 reached CNY 157,076,154.79, a significant increase from CNY 27,159,589.53 in the previous year, representing a growth of 478.5%[75]. - The company reported an investment income of CNY 216,135,846.03, up 189.0% from CNY 74,525,575.97 in the same period last year[74]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,887,920,851.43, reflecting a 9.01% increase from CNY 2,649,226,029.02 at the end of the previous year[17]. - The total current assets decreased to CNY 718,946,854.53 from CNY 747,260,863.57, reflecting a decline of about 3.5%[68]. - Non-current assets increased significantly to CNY 2,168,973,996.90 from CNY 1,901,965,165.45, marking an increase of approximately 14.1%[68]. - The total liabilities rose slightly to CNY 734,741,618.83 from CNY 725,448,631.21, indicating a marginal increase of about 1.8%[69]. - The total liabilities as of June 30, 2015, were CNY 877,113,218.02, slightly up from CNY 863,121,369.83 at the end of the previous period[74]. - Current liabilities totaled CNY 671,642,528.12, an increase from CNY 616,235,679.93 in the previous period, indicating a rise of 9.0%[74]. Equity and Shareholder Information - The net assets attributable to shareholders increased by 11.96% to CNY 2,147,023,571.06 from CNY 1,917,604,684.35 at the end of the previous year[17]. - The total equity increased to CNY 2,200,383,484.63 from CNY 1,964,949,530.44, reflecting a growth of 12.0%[74]. - The company distributed a cash dividend of 0.10 RMB per share, totaling 4.85 million RMB, based on the total share capital of 484.93 million shares as of December 31, 2014[44]. - The largest shareholder, Baotou Grassland Sugar Industry (Group) Co., Ltd., holds 152,717,960 shares, accounting for 31.49% of the total shares[59]. - The company has a capital reserve of CNY 759,411,733.12, which reflects its retained earnings and reserves[85]. Cash Flow - The cash inflow from operating activities was CNY 30,326,665.41, a decrease of 74.2% compared to CNY 117,415,275.49 in the previous period[79]. - The cash outflow from operating activities totaled CNY 75,810,697.25, down 45.0% from CNY 138,076,150.28 in the prior period[79]. - Cash inflow from investment activities amounted to CNY 325,004,429.23, significantly up from CNY 79,701,333.33 in the previous period, representing an increase of 308.5%[80]. - The net cash flow from investment activities was CNY 43,412,179.23, an increase of 46.3% compared to CNY 29,646,293.33 in the prior period[80]. - The ending cash and cash equivalents balance was CNY 108,341,793.57, down from CNY 304,229,218.23, reflecting a decrease of 64.5%[82]. Investment and Subsidiaries - The company holds a 14.03% stake in Hengtai Securities Co., with a book value of approximately 907.35 million RMB and a report period profit of approximately 165.60 million RMB[34]. - The company invested a total of 300 million RMB in trust products with an expected annual return rate of 14%, generating a total return of approximately 39.78 million RMB by the end of 2014[39]. - The company’s subsidiary Inner Mongolia Ruquan Dairy Industry Co., Ltd reported total assets of 172.09 million RMB and a net profit of -4.31 million RMB[42]. - The company has three subsidiaries included in the consolidated financial statements, with ownership stakes of 90% in Shanghai Huakun Technology Development Co., Ltd. and 100% in both Inner Mongolia Ruquan Dairy Co., Ltd. and Baotou Huazi Sugar Reserve Co., Ltd.[97]. Corporate Governance and Compliance - The company has committed to avoid related party transactions post the completion of the equity transfer, ensuring compliance with market principles[51]. - The company will strengthen internal control systems and improve corporate governance in accordance with regulatory requirements[54]. - The company has not faced any penalties or rectifications during the reporting period[53]. - The company has committed to adhere to legal and regulatory standards in all transactions to protect the rights of shareholders[51]. Accounting Policies - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, reflecting the company's financial position, operating results, and cash flows accurately[100]. - The company’s accounting currency is Renminbi (RMB)[103]. - The company recognizes its share of interests in joint operations, including assets and liabilities, according to relevant accounting standards[113]. - Revenue from the sale of goods is recognized when the significant risks and rewards of ownership have transferred to the buyer, and the amount can be reliably measured[188].