WHEE(SH:600475)2016-08-25 16:00Financial Performance - Basic earnings per share for the first half of 2016 was CNY 0.2016, a decrease of 4.05% compared to CNY 0.2101 in the same period last year[19] - Diluted earnings per share for the first half of 2016 was also CNY 0.2016, reflecting a 4.05% decline year-over-year[19] - The weighted average return on net assets was 3.43%, down by 0.46 percentage points from 3.89% in the previous year[19] - The basic earnings per share after deducting non-recurring gains and losses was CNY 0.1956, a decrease of 4.63% from CNY 0.2051 in the same period last year[19] - The weighted average return on net assets after deducting non-recurring gains and losses was 3.33%, down by 0.47 percentage points from 3.80% in the previous year[19] - The net profit attributable to shareholders of the listed company was RMB 51,598,293.68, a decrease of 4.06% compared to the same period last year[23] - The company achieved operating revenue of RMB 1,656,171,191.53 in the first half of 2016, representing a year-on-year increase of 1.06%[23] - The company reported a total of 182 million RMB in related party transactions for the first half of 2016, with significant transactions including 80 million RMB in sales of goods to Wuxi Zhongshe Guolian New Energy Development Co., Ltd., accounting for 98% of the total[64] Asset Management - The total assets at the end of the reporting period were RMB 4,811,330,506.09, down 5.06% from the previous year-end[33] - Total current assets decreased from 4,148,398,214.09 RMB to 3,924,228,328.24 RMB, a reduction of approximately 5.4%[86] - Cash and cash equivalents decreased from 1,377,863,470.53 RMB to 1,094,022,052.72 RMB, a decline of about 20.6%[86] - Accounts receivable increased from 1,253,542,599.94 RMB to 1,412,500,101.62 RMB, an increase of approximately 12.7%[86] - Inventory decreased from 824,697,706.19 RMB to 695,685,763.57 RMB, a reduction of about 15.6%[86] - Fixed assets decreased from 618,052,656.11 RMB to 610,828,043.03 RMB, a decline of approximately 1.2%[86] Cash Flow - The net cash flow from operating activities was negative at RMB -135,705,424.73, a decline of 254.67% year-on-year[33] - Total cash inflow from operating activities was 1,458,710,415.60 RMB, while cash outflow was 1,594,415,840.33 RMB, resulting in a net cash flow of -135,705,424.73 RMB[102] - Cash inflow from investment activities was 46,531,870.92 RMB, while cash outflow was 59,382,198.38 RMB, leading to a net cash flow of -12,850,327.46 RMB[102] - Cash inflow from financing activities was 50,000,000.00 RMB, with cash outflow totaling 92,836,858.65 RMB, resulting in a net cash flow of -42,836,858.65 RMB[103] Research and Development - The company added 23 new patents during the reporting period, including 9 invention patents, enhancing its core competitiveness[25] - The company’s research and development expenses were RMB 48,629,847.83, a slight decrease of 0.78% compared to the previous year[33] - The company has a strong R&D platform recognized as a national high-tech enterprise, with multiple research centers and a significant role in setting industry standards[41] Corporate Governance - The company has confirmed no non-operating fund occupation by controlling shareholders or related parties[6] - The company has committed to not engaging in any business that competes with the listed company, ensuring compliance with corporate governance standards[70] - The company confirmed that it will minimize related party transactions and ensure that any unavoidable transactions are conducted at fair market prices[70] - The company has maintained compliance with the corporate governance standards as outlined in the relevant regulatory documents[71] Shareholder Information - Total number of shareholders reached 15,783 by the end of the reporting period[77] - Wuxi Guolian Environmental Energy Group holds 115,504,522 shares, representing 45.12% of total shares[78] - China Life Reinsurance Company reduced its holdings by 1,000,000 shares, now holding 5,899,814 shares (2.30%)[78] Investment Activities - The company has invested CNY 25.5 million to establish a joint venture for biomass energy, holding a 51% stake in the new company[45] - The company provided entrusted loans totaling 70 million RMB to Youlian Thermal Power with a loan term of 1 year at an interest rate of 4.30%[52] - The company reported a net profit of 2,365.25 million RMB for Wuxi Guolianhua Engineering Co., with total assets of 542.72 million RMB[56] Dividend Distribution - The company distributed a cash dividend of 1.40 RMB per 10 shares, totaling 35.84 million RMB, based on a total share capital of 256 million shares[59] - The profit distribution for the current period shows a deduction of 48,903,317, indicating a decrease in retained earnings[110] Financial Reporting - The company prepares financial statements based on the assumption of going concern, following the accounting standards issued by the Ministry of Finance[124] - The financial statements accurately reflect the company's financial position, operating results, and cash flows in accordance with accounting standards[127] - The accounting period for the company runs from January 1 to December 31 each year[128] Related Party Transactions - The company engaged in related party transactions involving the purchase of raw coal amounting to 24 million RMB, which constituted 100% of the related business for that period[64] - The company disclosed a total of 41.76 million RMB in related party transactions with Guolian Financial Co., Ltd. as of June 30, 2016, including deposits and borrowings[65] - The company has established a comprehensive credit limit with Guolian Financial Co., Ltd. amounting to 1 billion RMB for financing operations[65]