CPEC(SH:600339)2017-04-28 16:00Financial Performance - Operating revenue for the period was CNY 7.07 billion, representing a 14.20% increase year-on-year[7] - Net profit attributable to shareholders was CNY 218.58 million, a significant increase of 544.62% compared to the same period last year[7] - Basic earnings per share rose to CNY 0.0416, an increase of 488.79% year-on-year[7] - The net profit for the first half of 2017 is expected to turn from a loss to a profit compared to the same period last year, following significant asset restructuring in 2016[25] - The operating profit for the current period was CNY 334,182,150.95, compared to CNY 36,412,784.23 in the previous period, indicating a substantial improvement[39] - The total comprehensive income for the current period was CNY 218,336,915.57, compared to a loss of CNY 50,338,032.99 in the previous period[41] Assets and Liabilities - Total assets decreased by 4.10% to CNY 85.79 billion compared to the end of the previous year[7] - Total liabilities decreased to RMB 63,062,187,495.19 from RMB 72,879,023,003.29, representing a reduction of approximately 13.4%[32] - The company's equity attributable to shareholders increased to RMB 22,694,985,966.25 from RMB 16,547,595,654.48, marking an increase of about 37%[33] - Current assets totaled RMB 76,446,180,773.98, down from RMB 79,869,947,381.74 at the start of the year, indicating a reduction of approximately 4.8%[29] - The company's cash and cash equivalents decreased to RMB 17,336,227,832.36 from RMB 22,971,412,444.16, reflecting a decline of about 24.7%[29] Cash Flow - Cash flow from operating activities showed a negative net amount of CNY -5.61 billion, a decline of 195.50% compared to the previous year[7] - Cash flow from operating activities showed a net outflow of CNY 5,612,200,688.34, worsening from a net outflow of CNY 1,899,213,079.68 in the previous period[50] - The company’s net cash flow from financing activities improved by 121.36%, reaching 52,955,404.69 RMB, due to reduced financing outflows[17] - The total cash inflow from financing activities was 5,927,109,999.84, a substantial increase from 490,000,000.00 in the previous period[55] - The cash flow from operating activities was significantly lower than the previous period's cash inflow of 364,677,274.98, highlighting operational challenges[54] Investments and Income - Investment income increased by 35.69% to 1,044,184.88 RMB, mainly from higher returns on investments in Angolan government bonds[16] - The investment income for the current period was CNY 1,044,184.88, up from CNY 769,511.10 in the previous period[39] Operational Changes - The company changed its name from "Xinjiang Dushanzi Tianli High-tech Co., Ltd." to "China Petroleum Engineering Co., Ltd." and expanded its business scope to include engineering contracting and project management services[21] - The company plans to internally transfer 100% equity stakes in several subsidiaries to streamline operations and enhance management efficiency[22] - The company is focusing on expanding its core business in oil and gas engineering services, which is expected to enhance profitability moving forward[25] - The company plans to continue its strategic initiatives in project management and environmental engineering services to drive future growth[25] Other Financial Metrics - Total operating costs for the current period amounted to CNY 6,740,641,533.74, an increase of 9.43% compared to CNY 6,158,667,576.23 in the previous period[39] - The management expenses decreased to CNY 521,331,697.65 from CNY 552,655,605.66 in the previous period, reflecting cost control measures[39] - The company recorded a tax expense of CNY 116,362,954.45, an increase from CNY 87,721,660.00 in the previous period[39]