wsdl(SH:600995)2018-08-26 16:00Financial Performance - The company's operating revenue for the first half of 2018 was CNY 1,076,135,542.96, representing a 2.16% increase compared to CNY 1,053,424,761.01 in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2018 was CNY 283,133,841.60, a significant increase of 42.08% from CNY 199,280,804.28 in the previous year[18]. - The net cash flow from operating activities reached CNY 359,644,680.23, up by 20.63% compared to CNY 298,128,437.47 in the same period last year[18]. - The total profit reached approximately 33,094 million yuan, an increase of about 9,464 million yuan, or 40.05% year-on-year[35]. - The net profit was approximately 28,313 million yuan, an increase of about 8,385 million yuan, or 42.08% year-on-year[35]. - Total operating revenue for the first half of 2018 was CNY 1,076,135,542.96, an increase of 2.16% compared to CNY 1,053,424,761.01 in the same period last year[90]. - Net profit for the first half of 2018 reached CNY 283,133,841.60, representing a 42.1% increase from CNY 199,280,804.28 in the prior year[90]. - The company reported a total profit of CNY 330,942,055.79, an increase of 40.0% compared to CNY 236,303,409.98 in the same period last year[90]. Assets and Liabilities - The total assets of the company at the end of the reporting period were CNY 2,825,904,624.35, reflecting a 6.85% increase from CNY 2,644,791,673.82 at the end of the previous year[18]. - The net assets attributable to shareholders increased to CNY 1,937,114,554.18, marking a 13.83% rise from CNY 1,701,833,352.58 at the end of the previous year[18]. - The company's asset-liability ratio was approximately 31.45%[35]. - Total liabilities decreased to CNY 888,790,070.17 from CNY 942,958,321.24, a reduction of about 5.75%[82]. - The total equity attributable to the owners of the parent company increased to CNY 1,937,114,554.18 from CNY 1,701,833,352.58, reflecting a growth of approximately 13.83%[83]. - The total liabilities decreased to CNY 885,884,083.86 from CNY 935,674,348.67, reflecting a reduction of approximately 5.3%[90]. Cash Flow - The net cash flow from operating activities increased by 20.63% to 359,644,680.23 yuan, driven by higher cash receipts from operating activities[39]. - The net cash flow from investment activities was negative at -39,651,425.98 yuan, indicating increased cash outflows for fixed asset investments[39]. - As of June 30, 2018, the company's cash and bank deposits totaled approximately CNY 502.39 million, up from CNY 309.20 million at the beginning of the period, representing an increase of about 62.5%[195]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 48,418[71]. - The largest shareholder, Yunnan Electric Power Co., Ltd., holds 146,719,000 shares, accounting for 30.66% of the total shares[73]. - The company has not reported any changes in its share capital structure during the reporting period[69]. Operational Highlights - The company's self-generated electricity supply reached 28,682 million kWh, an increase of 8,872 million kWh, or 44.79% year-on-year[34]. - The total purchased electricity volume was 265,551 million kWh, up 32,400 million kWh, or 13.90% year-on-year, with local purchases increasing by 20,434 million kWh, or 28.16%[34]. - The company's electricity sales volume for the first half of 2018 was 278,240 million kWh, an increase of 36,351 million kWh year-on-year, with electricity revenue of approximately 106,441 million yuan, up by about 2,891 million yuan[38]. - The electricity consumption in the service area showed a significant increase, with total electricity consumption reaching 3.506 billion kWh, a year-on-year growth of 14.97%[28]. Investment and Growth Strategy - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency and service delivery[45]. - The company is actively involved in the investment and management of power distribution networks, which is crucial for its growth strategy[49]. Corporate Governance and Compliance - The company has engaged Ernst & Young Hua Ming as its financial and internal control audit firm for 2018, with total audit fees amounting to CNY 850,000[56]. - The financial statements were prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring compliance and accuracy[125]. - The financial report was approved by the board of directors on August 24, 2018, ensuring governance and oversight[128]. Social Responsibility - The company has invested a total of 11.8418 million RMB in targeted poverty alleviation efforts, including 2.5 million RMB in funds and 9.3418 million RMB in material donations[64]. - The company has provided support to 613 impoverished households, totaling 2,346 individuals, as part of its targeted poverty alleviation strategy[61]. - The company has organized volunteer services, collecting over 1,000 sets of clothing and other supplies, and spent 71,942 RMB on food and living materials for impoverished households[62]. Risks and Challenges - The company is facing operational risks due to the strict cost control in the transmission and distribution pricing policy, which may affect its profitability[50]. - The company is also exposed to market risks from competition with other electricity sales companies in both existing and new markets[50]. Accounting Policies - The company applies consistent accounting policies and fiscal year for subsidiaries, with all significant intercompany balances and transactions fully offset during consolidation[135]. - The company has not made any significant changes to its accounting policies during the reporting period[188]. - The company assesses financial assets for impairment at the balance sheet date, recognizing impairment losses when objective evidence indicates a decline in value[142].