XJJW(SH:600888)2014-08-11 16:00Financial Performance - The company achieved operating revenue of RMB 2.146 billion, an increase of 27.26% compared to the same period last year[22]. - The net profit attributable to shareholders was a loss of RMB 62.28 million, a decrease of 207.34% year-on-year[22]. - The basic earnings per share were -0.0971 yuan, down 207.29% from 0.0905 yuan in the same period last year[21]. - The weighted average return on net assets was -1.6884%, a decrease of 3.25 percentage points compared to the previous year[21]. - The company's net profit for the first half of 2014 was -CNY 61,842,933.03, a decline of 206.58% compared to a profit of CNY 58,023,299.35 in the previous year[34]. - The company achieved 71.53% of its annual revenue target of CNY 3 billion in the first half of 2014[37]. - The company reported a total comprehensive loss of CNY -61,833,957.03 for the first half of 2014, compared to a comprehensive income of CNY 57,828,071.35 in the same period last year[94]. Cost Management - Operating costs increased by 40.81% to CNY 1,997,174,915.32 from CNY 1,418,376,739.12, primarily due to increased product sales and trade business growth[33]. - The company focused on cost reduction through detailed management practices and targeted cost control measures[25]. - The company plans to control operating costs within CNY 2.7 billion for the full year, with actual costs in the first half being CNY 1.997 billion, or 73.96% of the target[37]. Asset Management - Total assets increased by 5.96% to RMB 8.563 billion compared to the end of the previous year[22]. - Cash and cash equivalents at the end of the period increased by 110.25% to CNY 806,773,491.48 from CNY 383,715,850.23[35]. - Short-term borrowings rose by 50.42% to CNY 888,970,500.00 from CNY 590,993,000.00, primarily due to new borrowings[31]. - The company's total current assets reached CNY 3,455,495,570.42, up from CNY 2,936,278,139.95, indicating an increase of about 17.74%[86]. - The total liabilities increased to CNY 4,921,820,422.27 from CNY 4,346,533,802.04, marking an increase of around 13.19%[88]. Revenue Breakdown - The company's revenue from electronic new materials reached ¥889.09 million, with a year-on-year increase of 19.37%[39]. - Alloy products generated revenue of ¥587.51 million, reflecting a significant year-on-year increase of 43.06%[39]. - The company's revenue from trade business surged to ¥444.25 million, marking an impressive year-on-year increase of 683.56%[39]. - Domestic revenue amounted to ¥1.91 billion, representing a year-on-year increase of 28.84%[42]. Investment and Financing - The total amount of raised funds was ¥1.15 billion, with ¥4.95 million utilized in the reporting period[50]. - The company has slowed down its investment projects due to economic conditions and market changes, impacting the expected returns from these projects[51]. - The company has invested 50,279,580 RMB in a project to expand its production capacity for high-purity aluminum, which has reached 100% completion[55]. Shareholder Information - The total number of shareholders at the end of the reporting period was 50,958[74]. - The largest shareholder, TBEA Co., Ltd., holds 28.14% of the shares, totaling 180,434,922 shares[75]. - The total number of shares outstanding is 641,225,872[71]. Compliance and Governance - No penalties or administrative actions were taken against the company or its major shareholders during the reporting period[67]. - The company has not engaged in any competitive business activities as per the commitments made by its major shareholders[66]. Accounting Policies - The company adheres to the Chinese accounting standards, ensuring the financial statements reflect a true and complete picture of its financial status[127]. - The financial report is prepared based on the principle of going concern, indicating the company's ongoing operational viability[126]. - Revenue from the sale of goods is recognized when the risks and rewards of ownership have transferred to the buyer, and the related economic benefits are likely to flow to the company[197].