LYCG(SH:600491)2014-08-26 16:00Financial Performance - The company achieved a total operating revenue of RMB 7,047,374,275.40, representing an increase of 18.32% compared to the same period last year[16]. - The net profit attributable to shareholders was RMB 86,006,078.40, a decrease of 1.28% year-on-year[16]. - The basic earnings per share decreased by 1.20% to RMB 0.0908 from RMB 0.0919 in the previous year[16]. - The net profit for the current period increased by 32.45% to CNY 3,620.59 million, driven by higher operating revenue and project settlement surpluses[24]. - The total comprehensive income for the period was CNY 147,773,555.40, up from CNY 111,567,623.35, representing an increase of 32.36%[73]. - The company reported a net profit of CNY 133,872,146.68 for the first half of 2014, compared to CNY 121,231,042.07 in the same period last year, representing a growth of 10.9%[69]. Revenue and Costs - Operating costs increased by 18.49% to CNY 6,415,672,060.71 from CNY 5,414,495,656.31, primarily due to increased business undertakings and new projects[21]. - Total operating costs amounted to CNY 6,914,348,182.06, up 18.3% from CNY 5,843,437,165.36 year-on-year[69]. - The company incurred operating costs of CNY 6,160,998,138.92, which is an increase of 16.87% from CNY 5,271,800,900.41 in the previous year[72]. Cash Flow - The net cash flow from operating activities was negative at RMB -786,525,613.38, compared to RMB -163,899,048.08 in the previous year[16]. - The cash flow from operating activities showed a net outflow of CNY 786,525,613.38, worsening from a net outflow of CNY 163,899,048.08 in the previous year[76]. - Cash inflow from operating activities totaled 9,061,810,564.80 RMB, up from 7,732,984,792.58 RMB, reflecting a growth of approximately 17.2%[79]. - Cash outflow from operating activities increased to 9,930,166,004.84 RMB from 7,875,483,336.09 RMB, representing a rise of about 26%[79]. Assets and Liabilities - The total assets increased by 6.20% to RMB 18,696,918,397.75 from RMB 17,604,744,235.21 at the end of the previous year[16]. - Current liabilities totaled CNY 14,481,327,686.12, rising from CNY 13,705,177,187.85 at the start of the year, indicating a growth of 5.6%[63]. - Non-current liabilities increased to CNY 1,036,460,562.98 from CNY 743,654,529.35, marking a significant rise of 39.5%[63]. - The company's total equity reached CNY 3,179,130,148.65, up from CNY 3,155,912,518.01, showing a slight increase of 0.7%[63]. Investments and Contracts - The company undertook new contracts worth approximately RMB 13.871 billion during the reporting period, focusing on quality and risk control in a challenging real estate market[18]. - The company has undertaken new business contracts worth approximately CNY 138.71 billion during the reporting period[29]. - The company made a net equity investment of CNY 19.5 million during the reporting period, a decrease of 26.57% compared to the previous year's investment of CNY 26.55 million[34]. Shareholder Information - The total number of shareholders at the end of the reporting period was 44,753[53]. - The largest shareholder, Lai Zhenyuan, holds 33.67% of the shares, totaling 319,072,052 shares[53]. Financial Management - The company implemented a cash dividend distribution plan of CNY 0.75 per 10 shares during the reporting period[43]. - The total amount of guarantees provided by the company to subsidiaries during the reporting period was RMB 346,851,864.60, with a total guarantee balance of RMB 779,457,768.63 at the end of the period, accounting for 24.50% of the company's net assets[48]. Inventory and Receivables - Inventory rose from 9,174,138,249.50 RMB to 10,080,200,266.81 RMB, indicating an increase of approximately 9.8%[61]. - The total accounts receivable at the end of the period amounted to RMB 5,351,870,378.34, with a bad debt provision of RMB 648,348,577.57, representing a provision ratio of 12.11%[174]. - The high-risk accounts receivable totaled RMB 2,084,826,939.55, with a bad debt provision of RMB 452,325,971.16, resulting in a provision ratio of 21.70%[175]. Accounting Policies - The company’s financial statements comply with the requirements of enterprise accounting standards, ensuring accurate reflection of financial status[96]. - The company recognizes deferred tax assets related to deductible temporary differences only if they meet recognition criteria at the acquisition date[106]. - The company has not reported any changes in accounting policies or estimates for the current period[158].