CIH(SH:600715)2015-08-21 16:00Financial Performance - The company's operating revenue for the first half of 2015 was CNY 825.21 million, a decrease of 17.68% compared to CNY 1,002.50 million in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2015 was a loss of CNY 11.35 million, compared to a loss of CNY 6.84 million in the same period last year[20]. - The basic earnings per share for the first half of 2015 was -CNY 0.05, compared to -CNY 0.03 in the same period last year[18]. - The net profit attributable to the parent company was -11,349,200 RMB, a decrease of 66.04% year-on-year, mainly due to reduced non-operating income and increased intermediary fees[29]. - The total profit loss for the first half of 2015 was CNY -11,349,162.28, compared to a net loss of CNY -8,372,495.01 in the previous year[76]. - The company reported a loss of ¥11,349,162.28 for the current period, with a net loss of ¥8,392,248.84 after excluding non-recurring gains and losses, leading to a cumulative loss of ¥729,670,844.68 as of June 30, 2015[101]. Cash Flow - The net cash flow from operating activities increased significantly to CNY 114.63 million, up 927.69% from CNY 11.15 million in the previous year[20]. - The cash flow from financing activities improved by 75.67%, primarily due to new borrowings obtained during the period[28]. - Total cash inflow from operating activities reached CNY 126,058,716.81, while cash outflow was CNY 11,427,789.62, resulting in a net cash flow of CNY 114,630,927.19[82]. - The company reported a cash balance of RMB 120,966,807.66 at the end of the period, up from RMB 8,028,567.11 at the beginning of the period, indicating a significant increase of approximately 1,408.5%[162]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 262.08 million, representing a 56.02% increase from CNY 167.98 million at the end of the previous year[20]. - Total liabilities rose to ¥311,410,043.50 from ¥205,966,199.16, reflecting an increase of around 51%[69]. - The company's total assets and liabilities amounted to CNY 246,201,290.19, an increase from CNY 143,983,488.52[74]. - The total equity attributable to shareholders decreased to ¥-49,334,714.00 from ¥-37,985,551.72, indicating a decline of approximately 30%[70]. Operational Changes - The company completed the non-public issuance of A-shares, with the approval from the China Securities Regulatory Commission received on June 30, 2015[30]. - The company is focusing on leasing idle assets to enhance revenue and ensure asset value preservation[25]. - The company is committed to transforming its main business strategy to enter the profitable and promising film and gaming industry[55]. - The company has not engaged in any significant mergers or acquisitions during the reporting period, focusing instead on internal operations[108]. Governance and Compliance - The company has complied with corporate governance regulations and improved its governance structure during the reporting period[55]. - The company has appointed Ruihua Certified Public Accountants as its financial and internal control auditing firm for the year 2015, with a total audit fee of 460,000 RMB[53]. - The company has not experienced any penalties or rectifications involving its directors, supervisors, or senior management[54]. Shareholder Information - The company has a total of 9,302 shareholders as of the end of the reporting period[60]. - The largest shareholder, Beijing Yizhuang International Investment Development Co., Ltd., holds 55,827,200 shares, accounting for 24.89% of the total shares[62]. Financial Reporting and Accounting Policies - The company's financial statements are prepared based on the going concern assumption and in accordance with the relevant accounting standards[100]. - The company has not made any changes to its accounting policies or estimates during the reporting period[56]. - The company uses the Chinese Yuan (RMB) as its functional currency for financial reporting[106]. Impairment and Provisions - The company reported an asset impairment loss of CNY -3,023,954.70, a significant improvement from CNY 4,000,241.09 in the previous period[75]. - The company has a provision for expected liabilities related to product quality guarantees, which reflects management's judgment on potential future costs[159]. - The provision for bad debts for receivables aged over 5 years is 100%, amounting to CNY 50,971,708.46[176]. Revenue Recognition - Revenue from the sale of goods is recognized when the significant risks and rewards of ownership have been transferred to the buyer[149]. - Revenue from service transactions is recognized based on the percentage of completion method when the outcome can be reliably estimated[149]. - The company recognizes revenue based on the accrual basis according to relevant contracts or agreements[151].