XCEP(SH:600505)2015-08-04 16:00Financial Performance - The company's operating revenue for the first half of 2015 was CNY 364,874,680.93, representing a 14.50% increase compared to CNY 318,671,430.78 in the same period last year[19]. - The net profit attributable to shareholders of the listed company decreased by 87.15% to CNY 229,099.36 from CNY 1,782,832.83 year-on-year[19]. - The net profit after deducting non-recurring gains and losses was CNY -1,546,860.39, a decline of 183.38% compared to CNY 1,855,082.46 in the previous year[19]. - Basic earnings per share for the first half of 2015 were CNY 0.0006, down 87.76% from CNY 0.0049 in the same period last year[20]. - The weighted average return on net assets was 0.02%, a decrease of 0.18 percentage points from 0.2% in the previous year[20]. - Operating costs increased by 22.57% to 318.03 million RMB, primarily due to higher electricity purchase costs[28]. - The net profit for the first half of 2015 was CNY 683,432.70, a decrease of 50.3% from CNY 1,360,364.07 in the previous year[90]. - The net profit attributable to the parent company was CNY 229,099.36, down from CNY 1,782,832.83, indicating a decline of 87.2%[90]. Cash Flow and Investments - The net cash flow from operating activities increased by 6.92% to CNY 66,384,881.86 from CNY 62,085,911.53 in the same period last year[19]. - Cash flow from operating activities generated a net amount of ¥66,384,881.86, an increase of 6.0% from ¥62,085,911.53 in the previous period[96]. - The company reported a 40.31% increase in cash outflow from investment activities, primarily due to the absence of cash inflows related to investment activities compared to the previous year[28]. - Cash flow from investing activities resulted in a net outflow of ¥46,478,489.57, worsening from a net outflow of ¥33,125,179.59 in the previous period[96]. - The company reported a significant increase in other receivables, which rose to RMB 2,704,178.02 from RMB 765,701.18, an increase of approximately 253.5%[81]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,811,687,077.97, a decrease of 0.38% from CNY 1,818,676,306.10 at the end of the previous year[19]. - The total liabilities decreased slightly to RMB 798,824,085.95 from RMB 800,459,721.78, reflecting a reduction of about 0.2%[83]. - The company's equity attributable to shareholders decreased to RMB 920,157,536.18 from RMB 930,865,461.82, a decline of approximately 1.6%[83]. - The cash and cash equivalents decreased to RMB 123,455,235.76 from RMB 159,578,177.77, a decline of about 22.6%[81]. - The accounts receivable increased significantly to RMB 51,862,701.75 from RMB 30,853,996.02, representing a growth of about 68.1%[81]. Revenue Sources - The company achieved a power generation of 220.59 million kWh, an increase of 9.10% compared to the same period last year[25]. - The total electricity sales reached 620.77 million kWh, reflecting a growth of 13.57% year-over-year[25]. - The company's revenue from electricity reached ¥348,888,294.98, an increase of 12.60% compared to the previous year[39]. - Water supply revenue was ¥5,240,568.35, with an increase of 8.73% year-on-year[39]. - The revenue from electric power engineering was ¥12,893,739.12, showing a significant increase of 43.92%[39]. Shareholder Information - The company distributed a cash dividend of ¥0.30 per share, totaling ¥10,937,025, based on the total share capital of 364,567,500 shares[55]. - The total share capital of the company as of June 30, 2015, is 364,567,500 shares[114]. - The largest shareholder, State Grid Sichuan Electric Power Company, holds 55,272,460 shares, accounting for 15.16% of the total shares[74]. - The second largest shareholder, Liangshan State-owned Investment Development Co., Ltd., holds 54,039,720 shares, accounting for 14.82% of the total shares, with 27,019,800 shares pledged[74]. - The total number of shareholders at the end of the reporting period is 26,243[72]. Corporate Governance and Compliance - The company has continuously improved its corporate governance structure in compliance with relevant laws and regulations[67]. - There were no significant changes in accounting policies or estimates during the reporting period[68]. - The company has not faced any penalties or rectifications related to its directors, supervisors, or senior management during the reporting period[67]. Strategic Developments - The company has entered the photovoltaic and wind power sectors through strategic partnerships, including the establishment of a joint venture for wind energy development[26]. - The company is focusing on enhancing its core competitiveness and accelerating its transformation strategy for sustainable development[26]. - The company plans to achieve a power generation target of 479 million kWh and electricity sales of 1.39 billion kWh in the second half of the year[33]. Accounting Policies - The company’s financial statements are prepared based on the principle of going concern, indicating a stable operational history and financial resources[119]. - The company’s accounting policies include provisions for bad debts, fixed asset classification, and revenue recognition, adhering to the relevant accounting standards[120]. - The company recognizes electricity sales revenue based on actual consumption measured monthly, with detailed reporting for various customer categories[173]. - The company assesses the recoverable amount of assets at each balance sheet date, adjusting the carrying value to reflect the best estimate of future cash flows[170]. Impairment and Provisions - The company conducts impairment testing on long-term assets, including fixed assets and intangible assets with finite useful lives, whenever there are indications of impairment[164]. - Impairment losses are recognized when the carrying amount of an asset exceeds its recoverable amount, which is determined as the higher of fair value less costs to sell and the present value of expected future cash flows[165]. - The provision for bad debts for accounts over five years old is 100%[198].