FJC(SH:600802)2016-06-03 16:00Financial Performance - The company's operating revenue for the first half of 2015 was ¥780,011,152.30, a decrease of 14.27% compared to ¥909,868,189.13 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was -¥124,535,059.4, a significant decline from a profit of ¥10,090,649.43 in the previous year, representing a decrease of 1,334.16%[18]. - The net cash flow from operating activities was -¥104,177,544.62, down 176.70% from ¥135,829,897.42 in the same period last year[18]. - The total assets at the end of the reporting period were ¥5,246,920,786.81, a decrease of 2.88% from ¥5,402,736,476.25 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company decreased by 7.38% to ¥1,254,550,489.01 from ¥1,354,541,673.15 at the end of the previous year[18]. - The basic earnings per share for the first half of 2015 was -¥0.326, compared to ¥0.026 in the same period last year, reflecting a decrease of 1,357.69%[19]. - The weighted average return on net assets was -9.51%, a decrease of 10.48 percentage points from 0.97% in the previous year[19]. - The average selling price of cement decreased by 60 yuan/ton year-on-year, leading to a net profit attributable to the parent company of -124.54 million yuan, a decrease of 13.46 million yuan year-on-year[23]. - The company's cash flow from operating activities was -104.18 million yuan, a decrease of 240.01 million yuan year-on-year, indicating a significant cash outflow due to lower sales revenue and increased operational costs[26]. - The gross profit margin for cement manufacturing decreased by 19.10 percentage points year-on-year, reflecting intensified competition and declining prices in the market[31]. Investments and Projects - The company reported non-operating income from the disposal of non-current assets amounting to ¥4,283,731.10[20]. - Government subsidies related to normal business operations amounted to ¥5,145,837.38 during the reporting period[20]. - The newly launched projects, Haixia Cement and Ningde Jianfu, incurred a total loss of 80.94 million yuan, impacting the net profit attributable to the parent company by 47.92 million yuan[24]. - The company made an equity investment of 10.2 million RMB, holding a 51% stake in Fujian Furen Cement Sales Co., which was established in partnership with China Resources Cement[36]. - The company is in the process of acquiring a 50% stake in Jianfu Southern Cement, currently at the asset evaluation and application filing stage[53]. - The company completed the sale of Wuyishan Lingyun Hotel, generating asset transfer income of RMB 4.2837 million[55]. - The company has invested 48.5286 million RMB in the comprehensive energy-saving renovation project of Jianfu Cement Plant, which has been put into production[43]. Shareholder and Equity Information - The company did not propose any profit distribution plan or capital reserve transfer to increase share capital during the reporting period[5]. - The total number of shareholders at the end of the reporting period was 26,781[77]. - The company has not reported any significant changes in its share capital structure during the reporting period[76]. - The top shareholder, Fujian Provincial Building Materials (Holding) Co., Ltd., holds 28.78% of the shares, with no change during the reporting period[79]. - The company has not reported any changes in its controlling shareholder or actual controller during the period[80]. - The company has committed to distributing at least 10% of the annual distributable profit as cash dividends, with a cumulative distribution of no less than 30% of the average distributable profit over the last three years[72]. Financial Management and Compliance - The company has maintained compliance with corporate governance standards as per relevant laws and regulations[74]. - The company has not reported any penalties or corrective actions involving its directors, supervisors, or major shareholders during the reporting period[74]. - There were no significant changes in accounting policies or estimates during the reporting period[75]. - The company has not disclosed any temporary announcements that are applicable during the reporting period[67]. - The company has no outstanding guarantees exceeding 50% of net assets[70]. - The company has not reported any overdue guarantees during the period, and all guarantees were fulfilled as per the 2015 annual guarantee plan approved by the shareholders[70]. Cash Flow and Liquidity - The ending cash and cash equivalents balance was 337,846,707.11 RMB, down from 453,132,035.55 RMB, reflecting a decrease of about 25.5%[101]. - Cash inflow from sales of goods and services was 901,351,801.81 RMB, a decline from 1,062,372,574.84 RMB, indicating a decrease of approximately 15.1%[100]. - The company reported a significant reduction in cash reserves, with bank deposits decreasing by CNY 189,422,710.79, or approximately 35.9%[188]. - The total cash inflow from operating activities was 1,091,974,241.14 RMB, down from 1,219,174,550.42 RMB, reflecting a decrease of approximately 10.5%[100]. - Cash outflow from operating activities increased to 1,196,151,785.76 RMB, compared to 1,083,344,653 RMB in the previous period, marking an increase of about 10.4%[100]. Accounting Policies and Standards - The company adheres to the accounting standards, ensuring that financial statements accurately reflect its financial position and operating results[118]. - The company uses Renminbi as its accounting currency[120]. - The company has implemented specific accounting policies for mergers and acquisitions, including fair value measurement for non-controlling interests[121]. - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired[121]. - The company ensures that all subsidiaries adopt consistent accounting policies and periods for accurate consolidation[125]. Assets and Liabilities - Total assets decreased from CNY 5,402,736,476.25 to CNY 5,246,920,786.81, a decline of approximately 2.9%[88]. - Current liabilities increased from CNY 2,828,158,337.43 to CNY 2,855,997,267.88, an increase of about 1%[88]. - Non-current liabilities decreased from CNY 451,540,346.86 to CNY 402,524,137.10, a reduction of approximately 10.8%[88]. - Total liabilities decreased from CNY 3,279,698,684.29 to CNY 3,258,521,404.98, a decline of about 0.6%[88]. - Owner's equity decreased from CNY 2,123,037,791.96 to CNY 1,988,399,381.83, a decrease of approximately 6.3%[88]. Employee Compensation and Benefits - Employee compensation includes various forms of remuneration and benefits, categorized into short-term, post-employment, and other long-term benefits[172]. - Short-term employee compensation is recognized as a liability and expensed in the period services are rendered[173]. - The company accounts for employee benefits, including long-term benefits, according to specific accounting standards, ensuring that obligations are recognized in the current period[177].