SZPRD(SZ:000011)2014-08-11 16:00Financial Performance - The company's operating revenue for the first half of 2014 was CNY 501.37 million, a decrease of 62.81% compared to CNY 1.35 billion in the same period last year[21]. - The net profit attributable to shareholders was CNY 112.07 million, down 68.30% from CNY 353.60 million year-on-year[21]. - The net cash flow from operating activities was negative CNY 189.89 million, a decline of 249.95% compared to CNY 126.64 million in the previous 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 weighted average return on net assets was 6.19%, down from 21.06% in the previous year[21]. - The company reported a total profit of CNY 1.48 billion for the first half of the year[30]. - The total comprehensive income for the period was CNY 112,522,530.68, compared to CNY 352,896,713.10 in the previous year, reflecting a decrease of 68.1%[109]. - The company's net profit for the first half of 2014 was CNY 3,665,066.01, a significant decrease of 90.9% compared to CNY 40,159,141.82 in the same period of 2013[112]. Cash Flow and Liquidity - The net cash flow from financing activities was -$217.61 million, an increase of 1,307.46%, mainly due to decreased borrowing and dividend payments[33]. - The net increase in cash and cash equivalents was -$409.90 million, a decrease of 485.79%, primarily due to reduced cash recovery from project sales and decreased borrowing[33]. - The company's cash and cash equivalents decreased to ¥567,270,884.70 from ¥977,171,814.20, a decline of approximately 42%[101]. - Cash and cash equivalents at the end of the period were CNY 567,270,884.70, down 37.2% from CNY 903,972,985.55 at the end of the previous period[116]. - The company's cash flow from operating activities was significantly impacted by a decrease in cash received from customers, which fell by CNY 250,620,050.17 compared to the previous year[114]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3.59 billion, a decrease of 7.36% from CNY 3.87 billion at the end of the previous year[21]. - Total assets decreased to CNY 2,513,644,591.37 from CNY 2,643,301,890.77, reflecting a reduction of 4.9%[106]. - Total liabilities decreased to CNY 1,443,490,047.54 from CNY 1,427,817,639.95, indicating a slight increase of 1.1%[106]. - The total equity attributable to shareholders decreased to CNY 1,070,154,543.83 from CNY 1,215,484,250.82, a decline of 11.9%[107]. - The total owner's equity at the end of the current period is 1,068,741,228, an increase from the previous year's balance[130]. Dividends and Shareholder Information - The company plans to not distribute cash dividends or issue bonus shares for this period[6]. - The company plans to distribute a cash dividend of 2.5 yuan per 10 shares based on a total share capital of 595,979,092 shares, approved at the 2013 annual general meeting[51]. - The total number of common shareholders at the end of the reporting period is 42,175[87]. - The largest shareholder, Shenzhen Construction Investment Holding Company, holds 54.33% of the shares, totaling 323,796,370 shares[87]. Investment and Development - The company is focusing on real estate project development and marketing, as well as expanding its rental and property management services[30]. - The company has commenced construction on two projects in prime locations in Shenzhen, indicating ongoing expansion efforts[37]. - The company has invested a total of 1,933,380,184.64 million in significant projects, with the largest project, "Shenzhen Property·Hillside Royal View," having a total planned investment of 840,000,000 million and 60% completion[50]. Market Conditions - The overall real estate market is facing challenges, with significant declines in transaction volumes and price adjustments in various cities[30]. Accounting Policies - The financial statements are prepared in accordance with the Accounting Standards for Business Enterprises, ensuring a true and complete reflection of the company's financial status[135]. - The company uses Renminbi as its functional currency for accounting purposes[137]. - The company follows its established asset impairment accounting policy for the impairment of intangible assets[199]. Related Party Transactions and Guarantees - The company has no significant non-operating related party transactions during the reporting period[64]. - The company reported a total external guarantee amount of 42,301 million yuan, with 40,124 million yuan guaranteed for subsidiaries[76]. - There were no significant related party transactions during the reporting period[69].