Sunasia(SH:600593)2015-08-18 16:00Financial Performance - The company's operating revenue for the first half of 2015 was CNY 117,058,415.99, representing a 6.07% increase compared to CNY 110,355,213.59 in the same period last year[16]. - The net profit attributable to shareholders for the first half of 2015 was CNY 8,470,832.37, a significant recovery from a loss of CNY 2,241,910.86 in the previous year[16]. - The net cash flow from operating activities increased by 70.81% to CNY 41,550,224.83, up from CNY 24,324,693.45 in the same period last year[16]. - Basic earnings per share for the first half of 2015 were CNY 0.0921, compared to a loss of CNY 0.0244 per share in the same period last year[17]. - The weighted average return on net assets was 2.39%, recovering from -0.71% in the previous year[17]. - The company reported a net profit after deducting non-recurring gains and losses of CNY 4,024,886.65, compared to a loss of CNY 2,460,801.07 in the same period last year[16]. Assets and Liabilities - The total assets decreased by 3.16% to CNY 654,579,975.86 from CNY 675,924,097.08 at the end of the previous year[16]. - The net assets attributable to shareholders decreased by 1.49% to CNY 351,802,765.46 from CNY 357,131,933.09 at the end of the previous year[16]. - The total current assets as of June 30, 2015, amount to 136,823,955.16 RMB, a decrease from 143,452,224.42 RMB at the beginning of the period[57]. - The company's cash and cash equivalents decreased from 120,671,377.91 RMB to 106,545,309.47 RMB[57]. - The company's fixed assets are valued at 285,332,960.41 RMB, down from 296,126,044.87 RMB[57]. - Current liabilities totaled ¥150,207,920.73, slightly down from ¥150,765,360.18, indicating a decrease of about 0.4%[58]. - Non-current liabilities decreased from ¥137,950,797.57 to ¥120,077,554.57, representing a reduction of approximately 12.9%[58]. - Total liabilities decreased from ¥288,716,157.75 to ¥270,285,475.30, a decline of about 6.4%[58]. Revenue Sources - The company reported a revenue of ¥102,282,467.70 from tourism services, with a year-on-year increase of 8.62%[31]. - The gross profit margin for tourism services was 42.55%, which decreased by 0.33% compared to the previous year[31]. - Revenue from the Dalian region was ¥65,641,800.00, reflecting a 7% increase year-on-year[33]. - Revenue from the Harbin region was ¥36,640,667.70, showing an increase of 11.67% compared to the previous year[33]. Investments and Projects - The company is actively pursuing new project developments in Wuhu, Huai'an, and Zhenjiang as part of its strategic expansion[25]. - The company is actively developing the Wuhu Xinhua Union Big Whale World Ocean Park project, covering over 80,000 square meters with a total construction area of 40,000 square meters[28]. - The Huai'an Long Palace Big Whale Water World project has a planned contract amount of approximately ¥17 million for product design and development[29]. - The company signed a comprehensive strategic cooperation framework agreement with Zhenjiang Cultural Tourism Group for the Zhenjiang Big Whale World Waterfront City project[29]. Shareholder Information - As of the end of the reporting period, the total number of shareholders was 5,822[49]. - The top ten shareholders hold a total of 22,104,000 shares, representing 24.03% of the company[50]. - The second largest shareholder, Liaoning Mike Group Co., Ltd., holds 7,400,000 shares, accounting for 8.04%[50]. - N.Z. Underwater World Engineering and Development Co. Limited has decreased its holdings by 696,100 shares, now holding 6,671,900 shares, which is 7.25%[50]. Corporate Governance - The company has continuously improved its corporate governance structure in compliance with relevant regulations, ensuring clear responsibilities among the shareholders' meeting, board of directors, supervisory board, and management[45]. - The company has not experienced any penalties or rectifications involving its directors, supervisors, senior management, or major shareholders during the reporting period[45]. - The company appointed Da Hua Accounting Firm as the auditing institution for the 2015 fiscal year, with an annual audit fee of RMB 350,000 and an internal control audit fee of RMB 175,000[44]. Cash Flow and Financing - Cash flow from operating activities was ¥124,742,537.62, an increase from ¥113,316,964.05 in the previous period[70]. - The ending cash and cash equivalents balance was CNY 106,545,309.47, down from CNY 143,349,117.70, a decrease of approximately 25.6%[72]. - Cash inflow from financing activities amounted to CNY 50,000,000.00, consistent with the previous period[73]. - Total cash outflow from financing activities was CNY 87,537,230.86, compared to CNY 80,606,583.31, representing an increase of about 8.5%[72]. Accounting Policies - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring a true and complete reflection of the company's financial status[93]. - The company's accounting period runs from January 1 to December 31 each year[94]. - The company follows specific accounting treatments for mergers under common control and non-common control, ensuring proper recognition of assets and liabilities[99][103]. - The company includes all subsidiaries in its consolidated financial statements, ensuring consistency in accounting policies and periods across all entities[105]. Impairment and Valuation - The company assesses impairment for available-for-sale financial assets individually, with a significant decline in fair value defined as a drop of over 50% or sustained below cost for more than one year[128]. - The company recognizes impairment losses on available-for-sale financial assets when their fair value declines, transferring cumulative losses from other comprehensive income to current profit or loss[130]. - Long-term equity investments are subject to impairment testing if their book value exceeds the share of the investee's equity, with impairment losses recognized in the current period[157]. Revenue Recognition - Revenue from service sales, primarily from landscape ticket sales, is recognized when tickets are sold and payment is received, with related costs reliably measurable[186]. - The company recognizes revenue from the transfer of asset usage rights when economic benefits are likely to flow into the enterprise and the amount can be reliably measured[187]. - Revenue from government grants is recognized directly in profit or loss when it compensates for expenses already incurred[193].