CC GAS(SH:600333)2018-08-15 16:00Financial Performance - The company's operating revenue for the first half of 2018 was CNY 736,420,651.14, representing an increase of 11.11% compared to CNY 662,775,680.34 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was a loss of CNY 86,362,568.06, a decrease of 766.43% compared to a profit of CNY 12,959,055.03 in the previous year[17]. - The basic earnings per share for the first half of 2018 was -CNY 0.14, down 800.00% from CNY 0.02 in the same period last year[18]. - The weighted average return on net assets decreased by 4.04 percentage points to -4.04% compared to 0.80% in the previous year[18]. - The company's net cash flow from operating activities was -CNY 71,645,571.49, worsening from -CNY 14,550,686.91 in the same period last year[17]. - Operating costs rose by 32.34% to 544.74 million RMB, primarily due to increased natural gas purchase prices[29]. - The total operating costs for the first half of 2018 amounted to CNY 833,245,011.89, up from CNY 675,831,026.52 in the previous year, reflecting a significant increase in expenses[78]. - The total comprehensive income for the first half of 2018 was a loss of CNY 87,058,603.12, compared to a profit of CNY 11,730,501.88 in the same period last year[80]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 5,380,510,180.45, a slight decrease of 0.43% from CNY 5,403,927,170.47 at the end of the previous year[17]. - The net assets attributable to shareholders of the listed company decreased by 3.92% to CNY 2,092,439,545.56 from CNY 2,177,789,932.66 at the end of the previous year[17]. - The total liabilities as of June 30, 2018, were RMB 2,882,000,000.00, reflecting an increase from RMB 2,800,000,000.00 at the beginning of the period[71]. - Current liabilities totaled CNY 2,764,172,352.48, compared to CNY 2,666,863,659.88 at the beginning of the period, indicating a rise in short-term obligations[76]. - The company's equity attributable to shareholders decreased to CNY 2,092,439,545.56 from CNY 2,177,789,932.66, indicating a decline in shareholder value[76]. Cash Flow - The cash flow from financing activities decreased by 88.47% to 81.52 million RMB, primarily due to the previous year's fundraising[30]. - The net cash flow from financing activities was CNY 81,515,878.15, a significant decrease from CNY 707,248,452.36 in the previous year, reflecting tighter cash management[87]. - The total cash inflow from operating activities was CNY 592,837,960.96, while cash outflow was CNY 635,250,306.42, leading to a net cash flow deficit[86]. - Cash and cash equivalents at the end of the period totaled CNY 136,384,532.19, down from CNY 656,618,421.68, indicating a liquidity squeeze[84]. Investments and Subsidiaries - The company plans to invest in distributed energy supply projects, focusing on clean energy utilization for heating and cooling[24]. - The company operates 1 compressed natural gas (CNG) mother station and 10 CNG refueling stations, with one additional station under construction[24]. - The company has 9 city gas franchise subsidiaries, indicating a relatively monopolistic position in its operating regions[24]. - The total registered capital of Changchun Gas (Longjing) Co., Ltd. is CNY 5 million, holding a 100% stake in the company[38]. - The company has committed to a follow-up investment of no more than 500,000 RMB for a photovoltaic power generation project in Wanglong Village[54]. Risk and Compliance - The company did not report any significant risks that could materially affect its operations during the reporting period[5]. - There were no significant lawsuits or arbitration matters during the reporting period[44]. - The company has not disclosed any major related party transactions during the reporting period[45]. - The company has not proposed any profit distribution or capital reserve transfer plan for the half-year period[43]. Social Responsibility and Community Engagement - The company plans to invest up to 830,000 RMB in poverty alleviation projects, with a total expenditure not exceeding 900,000 RMB in 2018[48]. - A total of 97 registered impoverished individuals were lifted out of poverty during the reporting period[51]. - The company has successfully supported 33 impoverished households in Wanglong Village to achieve complete poverty alleviation[53]. - The company has implemented a comprehensive poverty alleviation strategy focusing on industrial development, infrastructure improvement, and social support[49]. Accounting Policies and Financial Reporting - The financial statements are prepared on a going concern basis, indicating the group has a history of profitable operations and sufficient financial resources to continue for at least 12 months from the reporting date[105]. - The group adheres to the enterprise accounting standards, ensuring that the financial statements accurately reflect the financial position, operating results, changes in equity, and cash flows[107]. - The company recognizes deferred tax assets and liabilities based on temporary differences between tax bases and book values[163]. - The company's revenue recognition policy includes sales of goods, provision of services, and transfer of asset usage rights[157].