NMHD(SH:600863)2016-08-23 16:00Financial Performance - The company's operating revenue for the first half of 2016 was approximately ¥4.27 billion, a decrease of 22.17% compared to ¥5.48 billion in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2016 was approximately ¥373 million, down 21.14% from ¥473 million in the previous year[20]. - The basic earnings per share for the first half of 2016 was ¥0.06, a decline of 21.14% compared to ¥0.08 in the same period last year[19]. - The net cash flow from operating activities for the first half of 2016 was approximately ¥1.15 billion, a decrease of 19.57% from ¥1.43 billion in the previous year[20]. - The company reported a decrease of 22.36% in net profit after deducting non-recurring gains and losses, with a figure of approximately ¥370 million compared to ¥477 million in the previous year[20]. - The diluted earnings per share for the first half of 2016 was also ¥0.06, reflecting the same decline of 21.14% compared to the previous year[19]. - The company achieved a total power generation of 17.931 billion kWh, a decrease of 2.794 billion kWh or 13.48% year-on-year[25]. - The company's electricity sales revenue reached ¥3.90 billion, a decrease of 24.11% year-on-year, with a gross margin of 19.35%, down by 3.76 percentage points[37]. - The company’s coal sales revenue was 244 million yuan, a decrease of 2.31% year-on-year[25]. - The company’s investment income was 452 million yuan, a decrease of 4.37% year-on-year[26]. - The company’s operating costs decreased by 19.09% year-on-year, totaling 3.569 billion yuan[28]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥39.08 billion, an increase of 2.27% from ¥38.21 billion at the end of the previous year[20]. - The net assets attributable to shareholders at the end of the reporting period were approximately ¥10.33 billion, a slight increase of 0.53% from ¥10.27 billion at the end of the previous year[20]. - The company reported a total current assets of RMB 2,381,055,029.45 as of June 30, 2016, compared to RMB 1,453,079,151.30 at the beginning of the period, indicating a significant increase[90]. - The company’s non-current assets totaled RMB 29,000,000,000, with long-term equity investments at RMB 2,432,929,237.40, slightly up from RMB 2,389,954,320.99[90]. - Current liabilities decreased to CNY 10,750,317,699.83 from CNY 11,133,359,690.86, a reduction of 3.45%[92]. - Non-current liabilities rose to CNY 14,359,194,584.60 from CNY 13,372,671,957.00, an increase of 7.36%[92]. - Total equity increased to CNY 13,973,858,129.43 from CNY 13,708,560,775.62, showing a growth of 1.94%[93]. Revenue Sources - The average on-grid electricity price was 238.09 yuan/kWh, a decrease of 31.49 yuan/kWh year-on-year, impacting electricity sales revenue by 517 million yuan[36]. - The company’s heat sales revenue increased by 44.06% year-on-year, reaching 112 million yuan due to new heating services[36]. - Heat sales revenue increased by 44.06% year-on-year to ¥112.38 million, with a gross margin of 4.91%, up by 11.9 percentage points[37]. - The company sold 2.5652 million tons of commodity coal, generating revenue of ¥244 million, a decrease of 2.31% year-on-year[38]. - Revenue from the Inner Mongolia region decreased by 27.23% due to a reduction in electricity delivery and lower electricity prices[40]. Investments and Future Plans - The company plans to strengthen internal control and adjust its structure to achieve annual targets despite market challenges[34]. - The company plans to increase its investment in renewable energy projects, including a wind power heating project in Inner Mongolia[45]. - The company plans to issue A-shares to raise funds for acquiring 81.25% equity in Inner Mongolia Northern Longyuan Wind Power Co., Ltd.[58]. - The company is increasing its investment in renewable energy by planning a proportional capital increase in Inner Mongolia Yue Electric Menghua New Energy Co., Ltd. for the Baiyun Ebo Wind Power Heating Project[63]. - The company plans to gradually integrate related assets into Inner Mongolia Huadian over approximately five years to enhance profitability and avoid industry competition[71]. Shareholder Information - The total number of shareholders at the end of the reporting period was 277,468[78]. - The largest shareholder, Northern United Power Co., Ltd., holds 3,289,093,203 shares, representing 56.63% of the total shares[80]. - The top ten unrestricted shareholders hold a total of 3,289,093,203 shares, with the largest shareholder being Beifang United Power Co., Ltd.[90]. Governance and Compliance - The financial report was approved by the board of directors on August 22, 2016, ensuring compliance with regulatory requirements[123]. - The company has not undergone any changes in controlling shareholders or actual controllers during the reporting period[82]. - The company adheres to the accounting standards and principles, ensuring that the financial statements reflect a true and complete picture of its financial status and operating results[128]. Accounting Policies - The company utilizes the accrual basis of accounting for its financial statements, except for the cash flow statement, which is prepared on a cash basis[127]. - The company confirms that all subsidiaries included in the consolidated financial statements follow consistent accounting policies and periods[134]. - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired in a business combination[133]. - The company’s accounting policies and estimates are in compliance with the relevant accounting standards, ensuring accurate financial reporting[128]. Cash Flow and Financing - Cash generated from operating activities was CNY 3,650,505,161.35, a decrease of 28.3% from CNY 5,084,479,616.26 in the same period last year[104]. - Cash inflow from financing activities was CNY 4,314,500,000.00, an increase from CNY 3,655,000,000.00 in the previous period, representing a growth of approximately 17.9%[106]. - The net cash flow from financing activities was CNY -333,860,826.59, an improvement from CNY -620,521,624.20 in the previous period[106]. - The total cash and cash equivalents at the end of the period were CNY 165,346,480.52, compared to CNY 223,399,277.27 at the end of the previous period, reflecting a decrease of approximately 26%[106]. Employee Compensation and Benefits - Short-term employee compensation, including wages and bonuses, is recognized as liabilities in the period services are provided[178]. - Termination benefits are recognized when the company cannot withdraw the offer or when costs related to restructuring are confirmed[180]. - The company recognizes other long-term employee benefits in accordance with the established contribution plan and benefit plan regulations[181].