First(SH:603806)2015-08-19 16:00Financial Performance - The company achieved operating revenue of CNY 1,518,298,416.09, representing a 33.36% increase compared to the same period last year[18]. - Net profit attributable to shareholders reached CNY 269,477,437.70, up 25.01% year-on-year[18]. - The net cash flow from operating activities was CNY 206,606,233.08, a significant increase of 428.45% compared to the previous year[18]. - Basic earnings per share increased to CNY 0.67, reflecting a growth of 6.35% from the previous year[18]. - The company achieved a significant revenue growth of 33.36%, reaching CNY 1,518,298,416.09 in the reporting period, with EVA film sales increasing by 35.38% to CNY 1,364,354,337.53 and backsheet sales surging by 75.86% to CNY 137,920,801.14[22][25]. - The gross profit margin for the photovoltaic industry improved by 1.02 percentage points to 32.83%, reflecting enhanced competitiveness[30]. - The company reported a net cash outflow from investment activities of CNY -84,298,200.19, primarily due to increased purchases of financial products[25]. - The company reported a total current asset of RMB 3,740,365,583.90 as of June 30, 2015, compared to RMB 3,709,371,167.00 at the beginning of the period, reflecting a slight increase of 0.84%[81]. - The company reported a total of RMB 20,000 million in wealth management products with an annualized return of 5.30%, resulting in RMB 1,057.10 million in actual income[37]. Investment and Expansion - The company is actively seeking new investment and acquisition opportunities in the photovoltaic sector[21]. - The company plans to explore new investment cooperation models and analyze feasible photovoltaic power station investment projects[21]. - The company is actively pursuing the construction of a new production project for EVA solar cell films with an annual capacity of 180 million square meters and plans to invest CNY 50 million to establish a wholly-owned subsidiary for solar power station development[22]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[88]. - The company is focusing on expanding its market share for EVA films and backsheet products while optimizing its R&D layout[21]. Research and Development - Research and development investment increased, with R&D expenditure rising by 7.47% to CNY 47,383,133.06, and new products entering the pilot testing phase[22][25]. - The company’s core competitiveness was strengthened through continuous R&D, project construction, and market expansion efforts[33]. Financial Management - The company’s financial expenses rose by 53.31% to CNY 4,680,704.82, mainly due to increased foreign exchange losses from USD fluctuations[25]. - The company has invested part of the raised funds in cash management, including fixed deposits and purchasing bank wealth management products[44]. - The company has committed a total of RMB 157,104.67 million for fundraising projects, with RMB 22,500.60 million actually invested during the reporting period[47]. Shareholder Information - The company distributed a cash dividend of RMB 180,900,000.00, amounting to RMB 4.5 per 10 shares, based on the total share capital of 402,000,000 shares[51]. - The total number of shareholders reached 10,141 by the end of the reporting period[73]. - The largest shareholder, Lin Jianhua, holds 85,500,000 shares, accounting for 21.27% of the total shares[74]. - The top ten shareholders collectively hold 56.29% of the total shares, with the largest shareholder being Lin Jianhua[74]. Corporate Governance - The company has complied with relevant laws and regulations regarding corporate governance, enhancing its internal control systems[68]. - The company has not reported any significant litigation or arbitration matters during the reporting period[54]. - The company has not experienced any significant penalties or corrective actions during the reporting period[68]. Accounting Policies - The financial statements are prepared based on the assumption of continuous operation, indicating stability in business operations[120]. - The company has implemented specific accounting policies for bad debt provisions, fixed asset depreciation, and revenue recognition, ensuring compliance with accounting standards[122]. - The company applies a comprehensive approach to assess impairment for both significant and non-significant financial assets based on various factors including market conditions and debtor's financial health[138]. Cash Flow and Liquidity - Cash and cash equivalents increased significantly to RMB 323,188,874.37 from RMB 150,428,930.24, marking a growth of 114.4%[81]. - The company reported a cash flow from financing activities net outflow of CNY 196,022,230.39, which is a slight increase in outflow compared to CNY 176,739,363.37 in the previous year, indicating ongoing financing activities[97]. - The ending balance of cash and cash equivalents was 563,915,575.98 RMB, compared to 250,529,342.06 RMB at the end of the previous period, showing a recovery in cash reserves[100]. Taxation - The company has a corporate income tax rate of 15% for the years 2014 to 2016 due to its high-tech enterprise status[178]. - The company’s tax rates include a 17% VAT and a 5% business tax, among others, impacting overall tax liabilities[175].