BURTC(SH:600861)2015-08-21 16:00Financial Performance - The total operating revenue for the first half of 2015 was CNY 1,017,841,923.19, a decrease of 13.23% compared to the same period last year[16]. - The net profit attributable to shareholders was CNY 38,862,224.17, down 15.41% year-on-year[16]. - The basic earnings per share decreased by 15.38% to CNY 0.1227 from CNY 0.1450 in the previous year[16]. - The company's operating revenue decreased by 13.23% compared to the same period last year, primarily due to a decline in sales influenced by the overall market environment[25]. - Operating costs decreased by 15.82% year-on-year, corresponding to the reduction in operating revenue[26]. - Sales expenses decreased by 7.63% year-on-year, reflecting normal cost reductions[26]. - Management expenses increased by 11.62% year-on-year, mainly due to new labor costs and expenses related to the "Urban Century Plaza" project[26]. - The net profit for the first half of 2015 was CNY 42,657,133.34, a decline of 13.9% from CNY 49,528,920.69 in the previous year[76]. - The company's total assets decreased to CNY 2,770,279,342.55 from CNY 2,816,113,220.86 at the beginning of the period, reflecting a reduction of 1.6%[73]. - The company reported a net profit margin of 42.78% for the first half of 2015, highlighting strong profitability[90]. Cash Flow and Liquidity - The net cash flow from operating activities showed a significant decline of 200.41%, resulting in a negative cash flow of CNY -182,958,529.90[16]. - The net cash flow from operating activities decreased by 200.41% year-on-year, primarily due to pre-sales from the "Urban Century Plaza" project managed by the subsidiary "Guosheng Xingye"[27]. - Cash and cash equivalents decreased to RMB 547,677,877.05 from RMB 995,027,930.67, representing a reduction of about 45%[66]. - The cash inflow from operating activities totaled ¥1,261,724,772.74, a decrease of 30.0% from ¥1,798,674,562.76 in the previous period[81]. - The company reported a significant cash outflow of 333,549,649.97 RMB during the period, highlighting liquidity challenges[85]. Investment and Projects - The company aims to enhance its comprehensive strength by ensuring the successful opening of the "Urban-Rural Century Plaza" project[21]. - The "Urban Century Plaza" project has a total investment of 2.97 billion RMB, with 1.56 million RMB invested in the current period and a cumulative investment of 2.31 billion RMB[37]. - The company received pre-sale funds and subscription fees totaling CNY 574 million for the "Urban and Rural Century Plaza" project, which will be used for project payments, bank loan repayments, and working capital[38]. - The company has acquired two properties and corresponding land use rights for a total of CNY 104 million, with the acquisition process ongoing[44]. Shareholder Information - The company distributed a cash dividend of CNY 1.50 per 10 shares, totaling CNY 47.52 million, based on a total share capital of 316,804,949 shares as of the end of 2014[39]. - The total number of shareholders reached 23,571 by the end of the reporting period[58]. - The largest shareholder, Beijing Suburban Tourism Development Company, holds 106,088,400 shares, accounting for 33.49% of total shares[59]. - The second-largest shareholder, China Foreign Economic and Trade Trust Co., Ltd., holds 7,565,000 shares, representing 2.39% of total shares[59]. Corporate Governance - The company has established a comprehensive corporate governance structure, ensuring clear responsibilities and independent operations among its management and supervisory bodies[53]. - The company has implemented a performance evaluation and incentive mechanism for senior management to enhance transparency and accountability[54]. - All shareholders, especially minority shareholders, are ensured equal rights and opportunities to exercise their rights[53]. - The company has not experienced any penalties or rectifications related to its directors, supervisors, or senior management during the reporting period[52]. Accounting and Financial Policies - The company follows the accrual basis of accounting and prepares its financial statements in accordance with the Chinese accounting standards[4]. - The company has not changed the scope of consolidation for its subsidiaries during the reporting period[4]. - The company’s accounting period aligns with the calendar year, from January 1 to December 31[4]. - The company has not reported any changes in significant accounting policies or estimates for the current period[193]. Asset Management - The total assets decreased by 4.35% to CNY 4,281,932,079.62 compared to the end of the previous year[16]. - Current assets totaled RMB 2,325,484,562.60, down from RMB 3,256,254,781.27, indicating a decline of approximately 28.5%[66]. - The company's equity attributable to shareholders was RMB 2,250,087,185.39, slightly down from RMB 2,258,266,177.49[68]. - The company’s fixed asset categories include buildings with a depreciation period of 30-40 years and electronic equipment with a depreciation period of 5-15 years[156]. Risk Management - The company has identified objective evidence of impairment for financial assets, leading to a reduction in carrying amounts to the present value of expected future cash flows[138]. - The company has mechanisms in place for the transfer of financial assets, ensuring proper derecognition when risks and rewards are transferred[140]. - The company assesses significant influence over investees based on ownership of 20% or more of voting rights, unless evidence suggests otherwise[151].