wsdl(SH:600995)2016-08-19 16:00Financial Performance - The company's operating revenue for the first half of 2016 was CNY 969,403,633.90, a decrease of 7.36% compared to the same period last year[18]. - The net profit attributable to shareholders for the first half of 2016 was CNY 119,002,010.53, an increase of 20.36% year-on-year[18]. - The basic earnings per share for the first half of 2016 was CNY 0.25, an increase of 19.05% compared to the same period last year[19]. - The weighted average return on equity for the first half of 2016 was 7.82%, an increase of 0.93 percentage points year-on-year[19]. - Operating revenue decreased by 7.36% to 969,403,633.90 from 1,046,406,046.99[35]. - Operating costs decreased by 9.89% to 712,793,805.64 from 791,029,271.54[35]. - Net cash flow from operating activities decreased by 0.96% to 274,672,323.83 from 277,337,454.50[35]. - The company reported a net decrease in cash and cash equivalents of CNY 20,736,861.82 for the period[100]. - The total cash inflow from operating activities was impacted by a decrease in tax refunds received, which fell to CNY 75,604,621.46 from CNY 111,840,846.77[100]. Electricity Supply and Sales - The company completed a self-generated electricity supply of 26,147 million kWh, an increase of 1,901 million kWh, or 8% year-on-year[25]. - The total electricity purchase volume was 199,902 million kWh, a decrease of 10,921 million kWh, or 5% year-on-year[25]. - The total electricity supply volume was 226,049 million kWh, a decrease of 9,019 million kWh, or 4% year-on-year[25]. - The total electricity sales volume was 212,543 million kWh, a decrease of 11,937 million kWh, or 5% year-on-year[25]. - The electricity sector reported revenue of ¥949,538,065.72, with a year-over-year decrease of 7.61% in revenue and a decrease of 10.21% in costs, while the gross margin increased by 2.15% to 25.85%[41]. - Revenue from the Wenshan and surrounding areas was ¥968,279,811.77, showing a decline of 7.33% compared to the previous year[44]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,836,885,084.03, a decrease of 0.80% compared to the end of the previous year[18]. - The net assets attributable to shareholders at the end of the reporting period were CNY 1,552,616,115.64, an increase of 5.83% compared to the end of the previous year[18]. - Total liabilities decreased from ¥1,392,671,134.28 to ¥1,284,268,968.39, a reduction of about 7.8%[83]. - Current liabilities decreased from ¥1,078,376,081.52 to ¥1,026,068,776.45, a decrease of approximately 4.9%[83]. - Non-current liabilities decreased from ¥314,295,052.76 to ¥258,200,191.94, a decline of about 17.9%[87]. - Owner's equity increased from ¥1,467,110,953.11 to ¥1,552,616,115.64, an increase of approximately 5.8%[84]. Investments and Acquisitions - The company has invested in Shenzhen Qianhai Shekou Free Trade Zone Power Supply Co., aiming to expand its business beyond Wenshan and seek new development opportunities[46]. - The acquisition of Wenshan Wende Design Co., which holds various engineering qualifications, is expected to open new business channels and contribute to performance[47]. - The company initiated a major asset restructuring plan to acquire 100% equity of Yunnan International Company, targeting cross-border electricity trade and EPC contracting[49]. - As of mid-2016, the company's long-term equity investments totaled ¥131,586,658.60, with significant increases in investments in various subsidiaries[50]. Shareholder Information - The company proposed a cash dividend of ¥0.7 per 10 shares, totaling ¥33,496,848, which was implemented in May 2016[57]. - The top ten shareholders include Yunnan Electric Power Co., Ltd. with 146,719,000 shares, representing 30.66% of total shares[74]. - The company signed a shareholder cooperation agreement with Shenzhen Power Supply Bureau and five other entities, contributing a registered capital of 8 million yuan to Shenzhen Qianhai Shekou Free Trade Zone Power Supply Co., Ltd. by June 30, 2016[64]. Financial Management and Reporting - The company has established five specialized committees within its board, including audit, strategy, nomination, compensation and assessment, and related party transaction review committees[68]. - The company reported a comprehensive income total of 78,599,540.00, reflecting a significant increase compared to the previous period[108]. - The company’s financial performance indicates a robust growth trajectory, with a year-on-year increase in total equity of approximately 11.3%[103]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring the financial reports reflect a true and complete picture of its financial status[117]. - The financial statements are prepared based on the going concern assumption, with no significant doubts regarding the company's ability to continue operations[116]. Accounting Policies - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired in a non-same control merger[124]. - Financial instruments are recognized at fair value upon initial recognition, with transaction costs accounted for differently based on the asset type[137]. - The company uses the equity method to account for investments in joint ventures, recognizing its share of income and expenses from joint operations[131]. - The company assesses significant receivables individually for impairment when the amount exceeds 1 million yuan or 300,000 yuan for other receivables[151]. - Inventory is measured at the lower of cost and net realizable value, with provisions for inventory write-downs recognized when the net realizable value is lower than cost[156].