CC GAS(SH:600333)2015-07-28 16:00Financial Performance - The company reported a revenue of CNY 734,651,023.77 for the first half of 2015, a decrease of 12.04% compared to the same period last year[17]. - The net profit attributable to shareholders was a loss of CNY 15,035,272.68, representing a decline of 273.97% year-on-year[17]. - The operating profit for the period was reported at -CNY 18,919,400, a significant drop from the previous year[24]. - The net loss for the first half of 2015 was ¥17,397,780.35, compared to a net profit of ¥8,105,302.92 in the previous year, indicating a significant decline[71]. - The total profit for the first half of 2015 was ¥5,566,212.72, down 73.94% from ¥20,885,084.50 year-on-year[74]. - The basic earnings per share were reported at -CNY 0.03, a decrease of 240.00% from the previous year[18]. - The company reported a significant increase in financial expenses to ¥12,648,180.31, compared to ¥1,162,675.73 in the same period last year[70]. Cash Flow and Liquidity - The operating cash flow for the period was a negative CNY 181,328,171.58, indicating a worsening cash flow situation[17]. - The net cash flow from operating activities was -¥181.33 million, worsening by 75.36% compared to -¥103.40 million in the previous year[26]. - The net cash flow from financing activities increased significantly by 825.28% to ¥449.92 million from ¥48.63 million year-on-year[26]. - The total cash inflow from financing activities reached 722,420,000.00 RMB, significantly up from 150,000,000.00 RMB in the prior period, reflecting increased borrowing and capital inflow[78]. - The cash and cash equivalents at the end of the period amounted to 258,382,065.86 RMB, an increase from 198,739,690.36 RMB in the previous period[78]. Assets and Liabilities - The total assets increased by 6.98% to CNY 4,707,600,950.48 compared to the end of the previous year[17]. - The company's net assets attributable to shareholders decreased by 0.64% to CNY 1,891,577,624.64[17]. - Current liabilities totaled ¥1,799,032,039.73, slightly up from ¥1,796,028,876.86, indicating a marginal increase of 0.06%[65]. - Non-current liabilities rose to ¥987,378,363.71 from ¥668,917,804.88, reflecting a significant increase of approximately 47.67%[65]. - Total liabilities increased to ¥2,786,410,403.44 from ¥2,464,946,681.74, indicating a rise of approximately 13.03%[65]. Investments and Projects - The company invested ¥8.5 million in Changchun Gas (Changbai Mountain Protection and Development Zone) Co., Ltd. during the reporting period[36]. - The company plans to complete the natural gas replacement project for all households in Changchun City by the end of 2015[29]. - The company has obtained gas pipeline operation rights in Changchun City and eight other cities, ensuring stable gas supply for customers[34]. - The company is focusing on expanding its market in vehicle gas and distributed energy projects, driven by environmental policies[35]. Subsidiary Performance - Changchun Gas (Dehui) Development Co., Ltd. reported a revenue of CNY 76.40 million with a net profit of CNY 2.04 million, reflecting a profit margin of approximately 2.67%[41]. - Changchun Gas (Yanji) Co., Ltd. experienced a revenue of CNY 149.95 million but reported a net loss of CNY 3.44 million, indicating a negative profit margin[41]. - The total revenue for Changchun Gas (Longjing) Co., Ltd. was CNY 98.39 million, with a net loss of CNY 3.37 million, resulting in a negative profit margin[41]. - The total revenue for Changchun Gas (Tumen) Co., Ltd. was CNY 40.80 million, with a net loss of CNY 2.56 million, reflecting a negative profit margin[41]. - Changchun Gas (Shuangyang) Co., Ltd. reported a revenue of CNY 91.10 million with a net loss of CNY 1.77 million, indicating financial difficulties[41]. Shareholder and Governance - The company has committed to not transferring or selling its shares during the non-public issuance period, ensuring stability in shareholding[48]. - The company has maintained compliance with corporate governance standards, enhancing its internal control systems[50]. - The top ten shareholders hold a total of 244,800,000 unrestricted shares, representing a significant portion of the company's equity[58]. - There were no significant changes in the board of directors or senior management during the reporting period[60]. Accounting Policies and Compliance - The company adheres to accounting standards, ensuring that financial statements accurately reflect its financial position and performance[99]. - The financial statements are prepared based on the assumption of going concern, with no significant issues affecting the company's ability to continue operations for at least 12 months[97]. - The company has not made any changes to significant accounting policies or estimates during the reporting period[156]. Inventory and Receivables - The total inventory at the end of the period is RMB 451,168,756.25, with a provision for inventory depreciation of RMB 5,560,691.95[182]. - The accounts receivable at the end of the period totaled CNY 105,238,823.55, with a bad debt provision of CNY 15,667,709.09, indicating a provision ratio of approximately 14.91%[166]. - The company has a significant amount of bank acceptance notes receivable, totaling CNY 31,452,185.64 at the end of the period, up from CNY 20,124,000.00 at the beginning of the period, reflecting a growth of approximately 56.67%[162]. Impairment and Provisions - The company recognizes provisions for liabilities when there is a present obligation that is likely to result in an outflow of economic benefits[144]. - The company has recognized a bad debt provision of RMB 1,483,525.95 during the current period[178]. - The provision for bad debts for receivables aged over five years is 100%, amounting to RMB 1,135,986.66[177].