SZPRD(SZ:000011)2014-08-11 16:00Financial Performance - The company's operating revenue for the first half of 2014 was CNY 501,367,559.78, a decrease of 62.81% compared to CNY 1,348,194,107.29 in the same period last year[21]. - The net profit attributable to shareholders was CNY 112,074,537.49, down 68.30% from CNY 353,600,992.81 year-on-year[21]. - Basic earnings per share decreased to CNY 0.1881, down 68.30% from CNY 0.5933 in the same period last year[21]. - The total profit for the first half of the year was CNY 1.48 billion, indicating ongoing efforts to stabilize operations amid market pressures[30]. - The net profit attributable to the parent company was ¥112,074,537.49, down 68.30% year-on-year, primarily due to decreased revenue from the real estate sector[33]. - The company reported a total comprehensive income of CNY 3,665,066.01, reflecting the same decline as the net profit[113]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -189,887,490.37, a decline of 249.95% compared to CNY 126,636,956.08 in the previous year[21]. - The net increase in cash and cash equivalents was negative at ¥-409,900,929.50, a decline of 485.79%, driven by decreased cash recovery from project sales and reduced borrowing[33]. - The company's cash and cash equivalents decreased from 977,171,814.20 RMB to 567,270,884.70 RMB, a decline of approximately 42%[102]. - The company’s cash flow from operating activities was significantly impacted by increased payments to suppliers and employees, totaling CNY 290,827,700.91 and CNY 140,770,571.32 respectively[116]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,588,338,174.44, a decrease of 7.36% from CNY 3,873,252,714.32 at the end of the previous year[21]. - Total liabilities decreased from 2,332,000,000 RMB to 2,200,000,000 RMB, reflecting a reduction of about 5.7%[103]. - The company's total liabilities decreased to CNY 1,099,690,000, indicating improved financial leverage[128]. Investment and Development - The company has commenced construction on two projects in prime locations in Shenzhen, indicating ongoing development and potential for future revenue growth[37]. - The company has invested a total of 499.70 million in significant projects, with 193.34 million actually spent to date[50]. - Investment income increased by 42.63% to ¥6,261,748.54, mainly due to the reversal of excess losses from a subsidiary's bankruptcy liquidation[33]. Market Conditions - The real estate market is facing significant challenges, with a notable decline in transaction volumes and price adjustments in various cities[30]. - Operating revenue decreased by 62.81% to ¥501,367,559.78 compared to the same period last year, primarily due to a reduction in settlement projects and sales[32]. Shareholder Information - The company plans to not distribute cash dividends or issue bonus shares for this period[6]. - Total number of common shareholders at the end of the reporting period is 42,175[89]. - The largest shareholder, Shenzhen Construction Investment Holding Company, holds 54.33% of shares, totaling 323,796,370 shares[89]. Accounting and Compliance - The financial report was approved by the board on August 11, 2014, reflecting the company's adherence to accounting standards[134]. - The company follows the continuous operation principle in preparing its financial statements, ensuring compliance with accounting standards[135]. - The company uses Renminbi (CNY) as its accounting currency[138]. Impairment and Valuation - The company recognizes impairment losses for financial assets when there is objective evidence of impairment, such as significant financial difficulties of the issuer or debtor[163]. - The company conducts impairment testing on significant financial assets individually and on non-significant financial assets either individually or as part of a portfolio with similar credit risk characteristics[164]. Miscellaneous - The company has no significant litigation or arbitration matters affecting its financial status[57]. - There were no asset acquisitions or sales during the reporting period[60][62]. - The company has not engaged in any equity incentive plans during the reporting period[63].