吉鑫科技(601218) - 2016 Q2 - 季度财报

Financial Performance - The company achieved operating revenue of CNY 776,999,968.60 in the first half of 2016, representing a 1.02% increase compared to CNY 769,163,928.35 in the same period last year[16]. - The net profit attributable to shareholders of the listed company was CNY 60,733,169.87, up 9.38% from CNY 55,526,673.84 year-on-year[16]. - The net cash flow from operating activities reached CNY 114,537,161.96, a significant increase of 733.01% compared to a negative cash flow of CNY -18,093,927.60 in the previous year[16]. - Basic earnings per share increased to CNY 0.0612, up 9.29% from CNY 0.0560 in the same period last year[17]. - The company's gross profit margin improved by 2.86% in the first half of 2016, reflecting stable growth in the wind power industry[19]. - The company reported a decrease in sales expenses by 18.92%, from CNY 37,470,497.21 to CNY 30,382,933.30[21]. - The company recorded a non-operating income of CNY 1,250,499.98 from government subsidies closely related to its normal business operations[21]. Assets and Liabilities - The total assets of the company at the end of the reporting period were CNY 3,961,702,362.76, a slight increase of 0.73% from CNY 3,932,861,675.59 at the end of the previous year[16]. - The company's net assets attributable to shareholders increased to CNY 2,504,520,683.11, reflecting a 2.49% growth from CNY 2,443,787,513.24 at the end of the previous year[16]. - Total liabilities decreased to CNY 1,410,144,701.89 from CNY 1,441,718,327.26, a reduction of about 2.2%[62]. - The company's equity attributable to shareholders increased to CNY 2,504,520,683.11 from CNY 2,443,787,513.24, reflecting a growth of approximately 2.5%[62]. - Short-term borrowings decreased to CNY 477,543,600.00 from CNY 510,000,000.00, a decline of about 6.3%[62]. - The company reported a significant reduction in accounts payable, which decreased to CNY 387,214,973.92 from CNY 445,304,889.83, a decline of approximately 13.0%[62]. Cash Flow - The net cash flow from investing activities improved to -CNY 18.24 million, a 62.72% increase compared to -CNY 48.91 million in the previous period[22]. - Operating cash inflow for the first half of 2016 was CNY 607,874,802.08, down 25.6% from CNY 817,556,773.09 in the same period last year[71]. - Cash flow from financing activities showed a net outflow of CNY 106,186,875.60, compared to a smaller outflow of CNY 4,531,478.71 last year[71]. - The company reported a net increase in cash and cash equivalents of CNY 3,842,541.09, reversing a significant decrease of CNY 121,498,452.74 in the previous year[73]. - The ending balance of cash and cash equivalents was CNY 700,581,594.95, up from CNY 646,405,196.69 at the end of the previous period[73]. Shareholder Information - The total number of shareholders reached 67,237 by the end of the reporting period[52]. - The largest shareholder, Bao Shijin, holds 361,884,588 shares, representing 36.49% of the total shares, with 49,000,000 shares pledged[53]. - The company distributed cash dividends of RMB 0.15 per share, totaling RMB 14.87 million, based on the total share capital of 99.176 million shares as of December 31, 2015[39]. - The company has committed to not reducing shareholdings within six months from July 8, 2015, and aims to enhance its operational management[53]. Research and Development - Research and development expenses increased to CNY 34.89 million, up 28.9% from CNY 27.07 million[22]. - The company invested CNY 34.89 million in R&D, focusing on enhancing technological capabilities and securing new patents[27]. Corporate Governance - The company has adhered to legal regulations to improve its corporate governance structure and ensure timely and accurate information disclosure[46]. - The company has not experienced any penalties or rectifications during the reporting period[46]. - The company has not engaged in any related party transactions during the reporting period[43]. Accounting Policies - The financial statements are prepared based on the going concern principle, indicating no significant issues affecting the company's ability to continue operations for the next 12 months[89]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that financial reports accurately reflect its financial position and operating results[90]. - The company recognizes cash and cash equivalents as including cash on hand and deposits that are readily available for payment[100]. Inventory and Receivables - The total inventory at the end of the period is CNY 464,479,016.92, with a provision for inventory depreciation of CNY 20,282,122.11[173]. - The total accounts receivable at the end of the period was CNY 906,032,955.58, with a bad debt provision of CNY 107,490,481.95, resulting in a provision ratio of approximately 11.86%[157]. - The total balance of other receivables at the end of the period is CNY 25,786,622.29, with a bad debt provision of CNY 9,523,686.87, representing a provision ratio of approximately 36.9%[168]. Impairment and Provisions - The company reported a significant increase in asset impairment losses, totaling CNY 23.59 million, which is a 253.6% increase from the previous period[22]. - Impairment losses are recognized when the recoverable amount of an asset is less than its carrying amount, calculated based on fair value or present value of future cash flows[130]. Future Plans - The company plans to enhance its market expansion efforts and invest in new product development to drive future growth[70]. - The company plans to continue using the remaining raised funds for construction projects as per the original plan[35].