TEC(SH:600780)2015-08-25 16:00Financial Performance - The company's operating revenue for the first half of 2015 was ¥2,828,033,393.81, a decrease of 11.81% compared to ¥3,206,643,245.06 in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2015 was ¥210,812,486.17, down 29.33% from ¥298,303,858.13 in the previous year[17]. - The net cash flow from operating activities decreased by 37.95%, amounting to ¥478,650,634.66 compared to ¥771,353,770.16 in the same period last year[17]. - Basic earnings per share for the first half of 2015 were ¥0.1839, a decrease of 29.33% from ¥0.2602 in the same period last year[18]. - The weighted average return on net assets decreased by 2.75 percentage points to 4.83% compared to 7.58% in the previous year[18]. - The company reported a net loss of CNY 17,702,455.77 for the first half of 2015, compared to a net loss of CNY 9,325,960.79 in the same period of the previous year, representing an increase in loss of approximately 89.5%[78]. - Total comprehensive loss amounted to CNY 16,950,431.25, compared to a loss of CNY 9,305,071.22 in the prior year, indicating a year-over-year increase of about 82.5%[78]. Assets and Liabilities - The total assets at the end of the reporting period were ¥8,832,650,342.47, reflecting a 5.88% increase from ¥8,342,091,178.20 at the end of the previous year[17]. - Total current assets increased to ¥2,129,099,722.15 from ¥1,528,120,396.41, representing a growth of approximately 39.3%[67]. - Total liabilities increased to ¥4,386,801,256.88 from ¥3,934,406,855.79, indicating a rise of approximately 11.5%[69]. - Total equity rose to ¥4,445,849,085.59 from ¥4,407,684,322.41, showing an increase of about 0.9%[69]. - The company reported a total asset value of ¥8,832,650,342.47, up from ¥8,342,091,178.20, indicating an increase of about 5.9%[69]. Revenue and Sales - The company achieved a total electricity generation of 2.395 billion kWh and electricity sales of 3.402 billion kWh, with gas sales of 56.2734 million cubic meters, resulting in a revenue of 2.828 billion RMB, a year-on-year decrease of 11.81%[22]. - Operating costs amounted to 2.255 billion RMB, down 10.10% year-on-year, while net profit attributable to the parent company was 211 million RMB, reflecting a 29.33% decline compared to the previous year[22]. - The company plans to complete an annual electricity generation target of 5.5 billion kWh and electricity sales of 6.9 billion kWh, with gas sales of 90 million cubic meters, aiming for revenue exceeding 6 billion RMB[28]. Financial Management and Controls - The company has strengthened financial controls, implementing strict cash management and monitoring key financial activities to mitigate risks[23]. - The company is focusing on expanding its gas supply market, shifting its target from industrial users to residential users, and enhancing cash flow management[24]. - The company has achieved a significant reduction in management expenses, with a decrease of 2.54% year-on-year, attributed to lower repair costs[27]. Shareholder Information - The company distributed a total profit of 171,975,378.45 RMB to shareholders, with a cash dividend of 1.5 RMB per 10 shares[38]. - As of the end of the reporting period, the total number of shareholders was 65,370[58]. - The largest shareholder, Shanxi International Power Group Co., Ltd., held 693,174,819 shares, accounting for 60.46% of the total shares[60]. Governance and Compliance - The report was not audited, and the management confirmed the accuracy and completeness of the financial report[5]. - The company’s governance structure was maintained in compliance with relevant laws and regulations, ensuring high-quality information disclosure[53]. - The company has implemented a robust internal control process to prevent financial risks and ensure compliance in governance[53]. Investment and Subsidiaries - Major subsidiaries include Shanxi Sunshine Power Generation Co., Ltd. with a revenue of 73,758.38 million RMB and a net profit of 11,513.74 million RMB[37]. - The company holds a 40% stake in Shanxi Guoxing Coalbed Methane Pipeline Co., Ltd., which reported a net loss of 582.12 million RMB[37]. - The company did not make any new equity investments during the reporting period[33]. Accounting Policies - The company’s accounting policies comply with the requirements of the enterprise accounting standards[109]. - The company has not made any changes to significant accounting policies or estimates during the reporting period[187]. - The company recognizes the costs associated with mergers, including audit, legal, and consulting fees, as expenses in the current period[119]. Cash Flow and Liquidity - The company reported a total cash outflow from operating activities of CNY 2,425,324,786.62, down from CNY 2,850,731,647.20, indicating a reduction of about 14.9%[81]. - Cash and cash equivalents at the end of the period totaled CNY 1,369,565,198.10, an increase from CNY 1,004,791,724.93 at the end of the previous period, marking a growth of about 36.3%[82]. - The company’s financial report indicates a focus on maintaining liquidity and managing cash flow effectively[85].