LK(SH:600388)2014-08-29 16:00Financial Performance - The company's operating revenue for the first half of 2014 was approximately CNY 2.26 billion, an increase of 3.91% compared to the same period last year[18]. - The net profit attributable to shareholders for the first half of 2014 was approximately CNY 142.87 million, representing a growth of 7.15% year-on-year[18]. - The basic earnings per share for the first half of 2014 was CNY 0.33, up 6.45% from CNY 0.31 in the same period last year[18]. - The net profit after deducting non-recurring gains and losses was approximately CNY 128.92 million, an increase of 12.51% year-on-year[18]. - Operating revenue increased by 3.91% to CNY 2,262,191,602.02 compared to the previous year[21]. - The company reported a net profit of ¥144,359,621.59, representing a 7.9% increase from ¥133,795,408.43 in the previous period[69]. - The company reported a net profit of ¥142,872,900.88 during the period, contributing positively to the equity position[81]. Assets and Liabilities - The total assets at the end of the reporting period reached approximately CNY 10.06 billion, an increase of 17.92% compared to the end of the previous year[18]. - The total current assets increased to CNY 8,334,638,136.88 from CNY 6,807,920,666.73, representing a growth of approximately 22.3%[60]. - The total liabilities reached ¥7,079,405,223.25, compared to ¥5,673,800,755.99, marking a rise of approximately 24.74%[61]. - The total owner's equity at the end of the current period is CNY 2,598,526,625.32, compared to CNY 2,115,532,952.13 at the end of the previous year, representing an increase of approximately 22.8%[83]. Cash Flow - The company reported a net cash flow from operating activities of approximately -CNY 116.34 million, showing an improvement from -CNY 434.16 million in the same period last year[18]. - Cash flow from operating activities improved significantly, with a net cash flow of -CNY 116,337,357.40 compared to -CNY 434,164,642.63 in the previous year[21]. - Cash inflow from operating activities increased to ¥1,718,781,617.33 from ¥1,454,167,040.15, representing a growth of approximately 18.2% year-over-year[76]. - The ending balance of cash and cash equivalents increased to ¥385,195,950.65 from ¥268,789,579.22, a rise of approximately 43.4%[78]. Research and Development - Research and development expenditure increased by 27.03% to CNY 86,522,777.88, indicating a focus on innovation[21]. - The company has made important progress in its technology development, particularly in the fields of electric dust removal and desulfurization, maintaining a leading position in specialized areas[20]. - The establishment of a national-level enterprise technology center enhances the company's research and development capabilities in the environmental protection industry[28]. Shareholder Information - The company implemented a profit distribution plan, distributing a total of 141,114,600 RMB in cash dividends to shareholders[35]. - The total number of shareholders at the end of the reporting period was 87,007[53]. - The total number of shares held by the top ten shareholders with more than 5% ownership was 3,546,000 shares[53]. - The company plans to distribute cash dividends amounting to at least 30% of the annual distributable profits over the next three years, subject to board approval based on annual profit and future funding needs[46]. Subsidiaries and Investments - The company made a capital increase of 35 million RMB in Jiangsu Longjing Kejie Catalyst Regeneration Co., Ltd., holding a 100% stake[34]. - The company’s subsidiary, Jiangsu Longjing Kejie, specializes in catalyst regeneration, contributing to the company's strategic expansion in environmental technology[34]. - The company has established multiple subsidiaries across various regions, focusing on environmental equipment manufacturing and installation[156]. Market Position and Growth - The company achieved significant growth in new contracts, particularly in the PM2.5 governance market, indicating a strong market demand for its new technologies and products[20]. - The company maintains a leading position in the air pollution control sector, with a comprehensive range of technologies recognized by the market and regulatory bodies[28]. - The company is actively expanding its market presence through the establishment of subsidiaries and investment in high-tech environmental solutions[156]. Compliance and Governance - The company has not changed its auditing firm during the reporting period, maintaining consistency in financial oversight[47]. - The company has no major litigation, arbitration, or media disputes during the reporting period[36]. - The financial statements comply with the relevant accounting standards, ensuring transparency and accuracy in reporting[96]. Inventory and Receivables - Inventory grew by 30.29% to CNY 4,013,335,774.78, attributed to expanded operational scale and increased work-in-progress[23]. - The total accounts receivable at the end of the period amounted to CNY 1,531,448,033.42, with a bad debt provision of CNY 104,340,262.22, representing a provision ratio of 6.82%[169]. - The total inventory at the end of the period is CNY 4,016,393,266.04, with raw materials valued at CNY 222,993,412.33 and work in progress at CNY 3,472,252,948.31[184].