ACEG(SH:600502)2014-07-29 16:00Financial Performance - The company achieved operating revenue of CNY 3.99 billion, a year-on-year increase of 9.24%[22] - Net profit attributable to shareholders reached CNY 129.38 million, up 11.56% compared to the same period last year[22] - Basic earnings per share were CNY 0.26, reflecting a growth of 13.04% year-on-year[22] - The company’s operating revenue for the first half of 2014 was CNY 3,988,317,140.93, representing a 9.24% increase compared to the same period last year[26] - The net profit for the current period is CNY 129,384,648.32, contributing to an increase in undistributed profits[76] - The company reported a net profit of CNY 908,689,085.76 for the period, up from CNY 799,381,637.44, indicating a growth of about 13.7%[58] - The company reported a significant increase in unallocated profits, which rose to CNY 773,215,359.88, up from CNY 750,933,447.57 in the previous year[78] Assets and Liabilities - Total assets increased to CNY 11.22 billion, a growth of 19.14% from the previous year[22] - The company's total assets increased to CNY 8,549,030,690.94, up from CNY 7,787,608,115.67, marking a growth of 9.79%[60] - The company's total liabilities reached CNY 8,698,951,823.99, up from CNY 7,445,380,000.38, indicating an increase of about 16.8%[57] - The total equity attributable to shareholders of the parent company was CNY 1,658,448,648.77, compared to CNY 1,551,591,650.05 at the beginning of the year, reflecting a growth of approximately 6.9%[58] - The total liabilities at the end of the reporting period are not explicitly stated but are implied to be managed effectively given the increase in equity[76] Cash Flow - The net cash flow from operating activities was -CNY 626,459,501.32, worsening from -CNY 316,861,095.82 in the previous year[26] - The company's financing activities generated a net cash flow of CNY 744,342,609.68, a significant increase of 120.20% compared to the previous year[26] - Total cash inflow from operating activities amounted to 3,611,550,029.75 RMB, compared to 2,562,111,353.54 RMB in the same period last year, reflecting a year-over-year increase of approximately 41%[71] - The net cash flow from financing activities was 744,342,609.68 RMB, compared to 338,034,195.19 RMB in the previous period, indicating a substantial improvement[69] Investments and Contracts - The company signed 85 new construction contracts with a total value of CNY 6.8 billion, representing an 87% increase year-on-year[24] - The company invested CNY 363 million to acquire 60% of Yunnan Gongshan Hengyuan Hydropower Development Co., Ltd.[24] - The company’s investment in external equity totaled CNY 36,300,000, a substantial increase of 1110.00% compared to the same period last year[32] - The company reported a total revenue of 51,250.00 million for construction project investments[155] Real Estate and Hydropower - Real estate business generated revenue of CNY 560 million, a significant increase of 36.02%[24] - The hydropower business generated 63.07 million kWh of electricity, with revenue of CNY 18 million, a decrease of 18.18% year-on-year[24] - The company added 51.71 acres of land reserves, which is expected to support the continuous development of its real estate business[32] Corporate Governance and Shareholder Information - The company has maintained its corporate governance structure in compliance with relevant laws and regulations, enhancing its internal control system and risk management capabilities[44] - The total number of shareholders at the end of the reporting period was 63,038, with the largest shareholder holding 17.03% of the shares[47] - The company’s largest shareholder, Anhui Provincial Water Conservancy Engineering Corporation, holds 85,473,813 shares, with a reduction of 25 million shares during the reporting period[47] Accounting and Financial Reporting - The financial statements are prepared based on the going concern principle and comply with the Accounting Standards for Business Enterprises[91] - The company confirms that its financial statements accurately reflect its financial position as of December 31, 2013, and its operating results for the year 2013[92] - The company uses Renminbi as its functional currency for accounting purposes[94] Inventory and Receivables - The total inventory as of June 30, 2014, was CNY 3,088,075,025.51, compared to CNY 2,379,756,530.51 at the end of 2013, reflecting an increase of about 29.7%[172] - As of June 30, 2014, the total accounts receivable amounted to ¥3,287,232,073.72, with a bad debt provision of ¥310,534,481.18, representing 9.07% of the total[164] - The accounts receivable aged within one year accounted for 74.67% of the total, with a balance of ¥2,394,594,209.03 and a bad debt provision of ¥119,729,710.45[165] Debt and Financing - The company's long-term borrowings reached CNY 1,476,400,000.00 as of June 30, 2014, up from CNY 730,100,000.00 at the end of 2013, indicating a significant increase in financing[200] - The total amount of guarantee loans increased to CNY 1,056,000,000.00 as of June 30, 2014, compared to CNY 583,500,000.00 at the end of 2013, showing a substantial rise[200] - The income tax payable as of June 30, 2014, was CNY 120,831,674.55, compared to CNY 108,617,847.70 at the end of 2013, reflecting a growth of approximately 11.1%[193]