wsdl(SH:600995)2014-08-14 16:00Financial Performance - The company achieved operating revenue of CNY 1,001,557,772.34, representing a 6.58% increase compared to the same period last year[14]. - Net profit attributable to shareholders reached CNY 100,588,581.62, marking a 19.60% growth year-on-year[14]. - The company generated a net cash flow from operating activities of CNY 183,959,613.82, which is a significant increase of 69.73% compared to the previous year[14]. - Operating costs rose to CNY 756,587,894.92, reflecting an 8.32% increase year-on-year[26]. - The company reported a significant increase in non-operating income, which rose by 350.98% to CNY 1,585,055.61 due to increased late payment fees[20]. - Investment income improved by 109.92%, reaching CNY 259,189.99, attributed to higher profits from joint ventures[20]. - The total tax expenses increased by 33.90% to CNY 24,876,068.66, driven by higher total profit[20]. - The company's basic earnings per share for the first half of 2014 were CNY 0.21, compared to CNY 0.18 in the same period last year, marking a 16.7% increase[56]. - The net profit for the first half of 2014 reached CNY 100,588,581.62, representing a growth of 19.6% from CNY 84,103,938.90 in the previous year[56]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,665,734,562.87, a slight decrease of 0.33% from the previous year[14]. - The company’s net assets attributable to shareholders increased by 4.50% to CNY 1,391,941,063.20[14]. - The total liabilities decreased to CNY 1,273,793,499.67 from CNY 1,342,626,992.96 at the beginning of the year, indicating a reduction of approximately 5.1%[54]. - The company’s long-term equity investments at the end of the first half of 2014 amounted to CNY 133,926,377.84, with notable increases in investments in local power supply companies[29]. - The total owner's equity at the end of the reporting period is RMB 1,391,941,063.20, an increase from RMB 1,332,027,225.58 at the beginning of the year[59]. Cash Flow - The company's cash and cash equivalents at the end of the reporting period were CNY 223,423,468.87, an increase from CNY 158,254,493.90 at the beginning of the year[58]. - The company's operating cash flow for the first half of 2014 was CNY 183,959,613.82, up from CNY 108,383,175.91 in the same period last year, reflecting a growth of 70%[58]. - The company’s cash flow from investing activities is not detailed, but significant cash inflows and outflows are noted in the operating activities section[193]. Accounts Receivable - The company reported a significant increase in accounts receivable, which rose by 279.50% to CNY 41,522,447.69[18]. - The total accounts receivable at the end of the period amounted to CNY 46,265,707.62, with a provision for bad debts of CNY 4,743,259.93, representing 10.25% of the total[143]. - The company has recognized a 100% provision for bad debts on a significant account receivable from Wenshan Xinda Silicon Industry Co., Ltd., totaling CNY 2,617,360.91 due to bankruptcy[144]. - Accounts receivable aging analysis shows that 73.53% (CNY 34,018,282.43) of accounts receivable are within one year, while 6.29% (CNY 2,908,204.37) are over three years[143]. Investments and Capital Expenditures - The company’s construction in progress increased by 39.61% to CNY 299,378,754.82 due to increased project investments[18]. - The total value of construction in progress at the end of the period was CNY 299,378,754.82, an increase from CNY 214,441,892.76 at the beginning of the year[159]. - The company capitalized interest of CNY 12,557,372.22 for construction projects, with a capitalization rate of 48.98% for infrastructure projects and 64.75% for technical renovation projects[160]. Financial Management - The company’s financial expenses decreased by 9.47% to CNY 28,665,438.16, due to reduced borrowing principal[26]. - The company’s employee compensation liabilities reached CNY 18,490,420.46, with a total increase in employee-related expenses of CNY 129,099,500.03 during the period[168]. - The company has a total of CNY 57.29 million in deferred income from government subsidies, slightly decreasing from CNY 57.35 million at the beginning of the period[175]. Regulatory and Compliance - The financial statements are prepared based on the going concern assumption and comply with the relevant accounting standards[67]. - The company did not report any changes in accounting policies or prior period error corrections during the first half of 2014[60]. - There were no major litigation, arbitration, or media disputes occurred during the reporting period[36]. Electricity Supply and Demand - The self-generated electricity volume was 23,887 million kWh, up 44.6% year-on-year, while the total electricity supply increased by 2.5%[16]. - The company’s direct electricity supply decreased by 7.9%, while the bulk electricity supply increased by 22.2%[16]. - The proportion of electricity sales to urban and rural residents increased from 12.96% to 15.28% year-on-year[22]. Employee and Compensation - Employee compensation expenses decreased to CNY 19,484,922.18 from CNY 23,080,896.48, a reduction of 15.5%[180]. - The company recognizes employee compensation liabilities during the accounting period in which services are provided[129]. Taxation - The corporate income tax rate is set at 15% for the company, applicable to qualifying industries in the western region[139]. - The company is subject to various tax rates, including a 17% VAT and a 5% service tax, impacting overall tax liabilities[138].