CRE(SH:600217)2016-08-29 16:00Fundraising and Stock Issuance - The company plans to issue up to 196,078,431 shares at a price of 6.63 RMB per share, aiming to raise a total of no more than 1.3 billion RMB for working capital[3]. - The company adjusted the number of shares to be issued to a maximum of 69,749,006 shares due to recent market changes and internal assessments[5]. - The company plans to raise funds through a non-public offering of shares, aiming to raise up to 1.3 billion RMB to supplement working capital[33]. - The company’s non-public stock issuance is still pending approval from the CSRC, with uncertainty regarding the outcome[6]. - The company’s non-public offering application is still pending approval from the China Securities Regulatory Commission, with uncertainty regarding the outcome[36]. - The company revised its non-public offering plan in response to regulatory feedback and market conditions[35]. Financial Performance - The company's operating revenue for the current period is 568,297,442.13 RMB, a decrease of 26.88% compared to the same period last year[30]. - The net profit attributable to shareholders of the listed company is 79,633,182.07 RMB, down 67.88% year-on-year[20]. - The basic earnings per share for the current period is 0.02 RMB, representing an 80.00% decrease from 0.10 RMB in the previous year[22]. - The company’s net cash flow from operating activities is -306,866,806.77 RMB, indicating a significant decline compared to -6,783,343.84 RMB in the previous period[30]. - The company has reported a significant amount of related party transactions, with sales to Sichuan Zhongzaisheng Environmental Technology Service Co., Ltd. amounting to 12,438,944.45 RMB, accounting for 5.70% of similar transactions[56]. - The total amount of related party procurement transactions reached 38,275,782.90 RMB from Sichuan Zhongzaisheng Environmental Technology Service Co., Ltd., representing 8.44% of similar transactions[56]. - The company reported a net loss of 20,837,558 RMB for the first half of 2016, indicating a challenging financial environment[115]. Assets and Liabilities - The total assets at the end of the reporting period amount to 2,858,489,859.27 RMB, an increase of 17.30% compared to the previous year[21]. - The company’s total liabilities are 19.04 billion RMB, which is an increase of 3.95 billion RMB from the beginning of the period[29]. - The asset-liability ratio at the end of the reporting period is 66.62%, an increase of 4.67 percentage points compared to the beginning of the period[29]. - The company’s total current assets increased to 2,240,610,230.48 RMB from 1,813,208,467.60 RMB, reflecting a growth of approximately 23.5%[92]. - The company reported a total of 261,200.00 RMB in cash received from sales of goods and services[108]. Operational Changes and Business Focus - The company has not experienced any changes in its registered address or major operational changes during the reporting period[14]. - The company has undergone changes in its business scope, including the recovery and processing of waste electrical and electronic products, as well as the trading of metal materials and rubber[49]. - The company has experienced a decline in the dismantling volume of waste electrical and electronic products due to market competition and falling commodity prices[28]. - The company is focusing on optimizing the recycling and dismantling structure of waste electrical and electronic products to enhance product value[28]. Governance and Compliance - The company’s financial report is guaranteed to be true, accurate, and complete by its board of directors and senior management[3]. - The company has confirmed that there are no violations in decision-making procedures regarding external guarantees[3]. - The company has established a governance structure that aligns with the requirements of the Company Law and the China Securities Regulatory Commission[71]. - The company has not faced any penalties or required rectifications from regulatory authorities during the reporting period[71]. - The company has committed to maintaining the independence of Qinling Cement and ensuring compliance with relevant regulations regarding independence and fund usage[66]. Shareholder Information - The total number of shareholders at the end of the reporting period was 34,433[77]. - The top ten shareholders hold a total of 340,060,867 shares, representing 25.35% of the company, with 240,060,867 shares pledged[79]. - The second-largest shareholder, Zhongzai Resource Recycling Development Co., Ltd., holds 108,273,600 shares, accounting for 8.07%[79]. Accounting and Financial Reporting - The financial statements are prepared based on the assumption of going concern, in accordance with the accounting standards issued by the Ministry of Finance[129]. - The group has no significant doubts regarding its ability to continue as a going concern for the next 12 months from the reporting date[130]. - The company has not made any significant changes to its accounting policies or estimates during the reporting period[188]. - The company has a deferred tax asset and liability based on the temporary differences between the tax bases of assets and liabilities and their carrying amounts, with a focus on ensuring recoverability of these assets[185]. Cash Flow and Investments - Cash flow from operating activities showed a net outflow of CNY -306,866,806.77, compared to CNY -6,783,343.84 in the previous period[105]. - Cash inflow from financing activities was CNY 1,060,175,243.30, an increase from CNY 608,815,310.99 in the previous period[105]. - The company received 299,950,000.00 RMB from borrowings during the financing activities, contributing significantly to cash inflows[108]. - The total cash inflow from investment activities was 14,834,722.60 RMB, while cash outflow was 652,730.59 RMB, leading to a net cash flow of -652,730.59 RMB[108].