SZPRD(SZ:000011)2015-08-14 16:00Financial Performance - The company's operating revenue for the first half of 2015 was CNY 338,761,310.39, a decrease of 32.43% compared to the same period last year[21]. - The net profit attributable to shareholders was CNY 31,162,831.74, down 72.19% year-on-year[21]. - The net profit after deducting non-recurring gains and losses was CNY 26,946,876.19, a decline of 73.95% compared to the previous year[21]. - The net cash flow from operating activities was negative at CNY -221,909,180.93, worsening by 16.86% from the previous year[21]. - The total assets at the end of the reporting period were CNY 3,756,568,697.53, a decrease of 3.26% from the end of the previous year[21]. - The net assets attributable to shareholders decreased by 4.96% to CNY 1,971,339,192.41 compared to the end of the previous year[21]. - The company's operating revenue for the reporting period was ¥338,761,310.39, a decrease of 32.43% compared to the same period last year, primarily due to reduced sales and settlement projects[31]. - Operating costs decreased by 13.77% to ¥199,054,160.59, attributed to the decline in revenue from settlement projects[31]. - Sales expenses increased significantly by 144.98% to ¥12,658,266.69, mainly due to increased marketing efforts and advertising costs[31]. - The net profit attributable to the parent company was ¥31,162,831.74, down 72.19% year-on-year, primarily due to reduced revenue from the real estate sector[33]. - Cash flow from operating activities was -¥221,909,180.93, a 16.86% increase in outflow compared to the previous year, mainly due to decreased cash recovery from sales[31]. - The estimated cumulative net profit for the period from January to the next reporting period is projected to be 4,000,000, representing a significant decrease of 87.62% compared to the previous year's figure of 32,313,000[51]. - Basic earnings per share are expected to drop to 0.0671 from 0.5422, reflecting a decline of 87.62%[51]. Market Conditions - The real estate market showed signs of recovery, with key indicators such as sales area and sales amount turning positive by June 2015[29]. - The company anticipates further stabilization in the real estate market in the second half of 2015, driven by urbanization trends[29]. Investment and Projects - The company has five ongoing projects in various locations, with steady progress and plans to expand its auxiliary businesses to enhance overall competitiveness[38]. - The total planned investment for various projects amounts to 538,787,000, with actual investment during the reporting period being 20,560,000, and cumulative actual investment reaching 238,535,000[50]. - Investment activities resulted in a cash outflow of -¥7,669,730.46, a 212.70% increase in expenditure due to updates in subsidiary vehicle fleets[31]. Shareholder Information - The company did not distribute cash dividends or bonus shares during this reporting period[6]. - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[55]. - The total number of ordinary shareholders at the end of the reporting period was 35,206[90]. - The largest shareholder, Shenzhen Construction Investment Holding Company, holds 54.33% of the shares[90]. - The second largest shareholder, Shenzhen Investment Management Company, holds 9.49% of the shares[90]. Financial Position - The company's total liabilities amounted to CNY 1.78 billion, slightly down from CNY 1.81 billion at the beginning of the year[108]. - Current liabilities totaled CNY 1.57 billion, an increase of 5.4% from CNY 1.49 billion at the start of the year[112]. - Non-current liabilities decreased to CNY 209.85 million from CNY 314.34 million, a reduction of 33.2%[108]. - The company's total assets as of June 30, 2015, amounted to RMB 3,756,568,697.53, a decrease from RMB 3,883,288,145.46 at the beginning of the period[105]. - Cash and cash equivalents decreased to RMB 482,997,421.84 from RMB 808,963,376.68, reflecting a decline of approximately 40.2%[105]. - Accounts receivable increased to RMB 40,331,332.76 from RMB 26,585,132.12, representing a growth of about 51.6%[105]. - Inventory rose to RMB 2,493,227,840.13 from RMB 2,323,472,671.20, indicating an increase of approximately 7.3%[105]. - The company's non-current assets totaled RMB 697,569,868.71, slightly up from RMB 691,638,707.97[106]. - Short-term borrowings decreased to RMB 88,000,000.00 from RMB 100,000,000.00, a reduction of 12%[106]. Compliance and Governance - The financial report was approved by the board on August 14, 2015, ensuring compliance with accounting standards[140]. - The company has no significant doubts regarding its ability to continue as a going concern for the next 12 months[143]. - The company follows the calendar year as its accounting period, from January 1 to December 31[145]. - The company’s accounting policies comply with the requirements of enterprise accounting standards, reflecting its financial status accurately[144]. Accounting Policies - The company will account for the equity investment in the acquired entity at the book value plus additional investment costs as the initial investment cost under the cost method[150]. - The fair value of the equity held before the acquisition date will be remeasured on the acquisition date, with the difference between fair value and book value recognized as investment income for the current period[151]. - The company will recognize goodwill if the acquisition cost exceeds the fair value of identifiable net assets acquired[152]. - The consolidated financial statements will reflect the financial position, operating results, and cash flows of the entire corporate group as a single accounting entity[153]. - Non-controlling interests will be reported under the equity section of the consolidated balance sheet[154]. - The company will adjust the consolidated balance sheet for subsidiaries acquired under common control by including their income, expenses, and profits from the beginning of the reporting period[155]. Impairment and Financial Instruments - The company recognizes impairment losses on assets in accordance with relevant accounting standards, fully recognizing losses for assets that meet impairment criteria[160]. - The company assesses the impairment of financial assets at year-end, confirming impairment losses when objective evidence indicates a decline in value[167]. - For available-for-sale financial assets, if the fair value declines by more than 50% or remains below cost for over a year, impairment is recognized[169]. - The company conducts individual impairment tests for significant financial assets and groups similar credit risk assets for testing[168]. - The company maintains a rigorous process for assessing and recognizing impairment losses to ensure accurate financial reporting[167]. Cash Flow and Financing Activities - The total cash outflow from financing activities is CNY 222,454,660.47, a decrease from CNY 468,984,297.27 in the previous period[124]. - The company experienced a foreign exchange loss of CNY -235,382.98 during the current period[124]. - The net cash flow from financing activities was -81,400,417.96 yuan, an improvement from -125,780,914.41 yuan in the previous period[127]. - The company paid 139,703,417.96 yuan in dividends and interest, down from 156,942,914.41 yuan last year[127].