深南电(000037) - 2014 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2014 was ¥527,397,555.77, a decrease of 6.73% compared to ¥565,476,934.91 in the same period last year[19]. - The net profit attributable to shareholders was a loss of ¥75,247,848.71, improving by 25.89% from a loss of ¥101,535,348.67 in the previous year[19]. - The net cash flow from operating activities was ¥390,088,829.00, down 22.82% from ¥505,430,314.24 in the same period last year[19]. - The basic earnings per share were -¥0.12, an improvement of 29.41% from -¥0.17 in the same period last year[19]. - The company's operating revenue for the reporting period was approximately 52.74 million yuan, down 6.73% year-on-year, primarily due to reduced electricity generation[28]. - The net profit attributable to the parent company was a loss of approximately 75.25 million yuan, an increase in loss of 26.29 million yuan compared to the previous year, driven by decreased electricity generation and high fuel costs[28]. - The company achieved a cash flow from operating activities of approximately 390.09 million yuan, a decrease of 22.82% year-on-year due to reduced subsidy receipts and electricity revenue[31]. - The net profit for the first half of 2014 was a loss of CNY 75,247,848.71, compared to a profit of CNY 53,099,116.45 in the same period of 2013, indicating a significant decline in profitability[112]. Assets and Liabilities - The total assets at the end of the reporting period were ¥5,549,757,952.73, an increase of 2.01% from ¥5,440,291,369.21 at the end of the previous year[19]. - The net assets attributable to shareholders decreased by 4.70% to ¥1,525,807,691.16 from ¥1,601,055,539.87 at the end of the previous year[19]. - The company's total assets as of June 30, 2014, were approximately 5.55 billion yuan, with a net asset value of 1.53 billion yuan and a debt-to-asset ratio of 69.39%[28]. - The total liabilities increased to RMB 3.85 billion from RMB 3.64 billion, representing a rise of 5.77%[98]. - The total equity at the end of the first half of 2014 was CNY 1,698,308,574.08, down from CNY 1,799,779,552.83 at the beginning of the year, representing a decrease of about 5.64%[112]. Cash Flow and Financing - The company’s cash and cash equivalents increased by 115.21% year-on-year, primarily due to increased financing net inflow[31]. - The company reported cash inflow from financing activities of approximately ¥2.13 billion in the first half of 2014, compared to ¥1.54 billion in the same period of 2013, marking an increase of about 38.5%[108]. - The total cash and cash equivalents at the end of the first half of 2014 stood at approximately ¥733.91 million, up from ¥617.86 million at the end of the first half of 2013, an increase of about 18.8%[108]. Shareholder Information - The total number of shares is 602,762,500, with 100% being unrestricted shares[80]. - The largest shareholder, Shenzhen Guangju Industrial Co., Ltd., holds 16.72% of the shares, totaling 100,769,712 shares[83]. - The second largest shareholder, Hong Kong Nanhai Ocean (International) Co., Ltd., holds 15.28% of the shares, totaling 92,123,248 shares[84]. - The third largest shareholder, Shenzhen Energy Group Co., Ltd., holds 10.80% of the shares, totaling 65,106,130 shares[83]. - The total number of common shareholders at the end of the reporting period is 37,313[83]. - The company does not have a controlling shareholder or actual controller[85]. Corporate Governance - The company has implemented a governance structure that ensures compliance with laws and regulations, enhancing decision-making and management levels[55]. - The company has established various committees within the board to ensure efficient operation and scientific decision-making[56]. - The company strictly adheres to the Articles of Association and does not engage in any unauthorized actions by the management team[57]. - There were no significant lawsuits or arbitration matters during the reporting period[58]. - The company has not undergone any bankruptcy restructuring during the reporting period[60]. Investments and Projects - The company is actively participating in the Xinjiang aid project and has signed a tripartite investment cooperation agreement with local government[33]. - The company is advancing the expansion project of the Zhongshan Nanlang Power Plant, which includes the construction of two 460MW gas-fired units, with strong support from local government[33]. - The company has invested 5,731.5 million yuan in the Jiangxi Nuclear Power Company project, with a total planned investment of 34,785 million yuan[47]. - The company has established a wholly-owned subsidiary, Zhongshan Shenan Electric Storage Co., Ltd., which is currently in the formation process and has no impact on the company's performance[45]. Revenue Recognition - The company recognizes revenue from electricity sales upon confirmation of generated power by the power bureau, ensuring reliable measurement of revenue[177]. - Service revenue is recognized based on the percentage of completion method, with costs incurred determining the progress of service transactions[178]. - Government grants are recognized as deferred income and allocated to profit or loss over the useful life of the related assets[179]. Taxation - The corporate income tax rate for the company and its subsidiaries is consistently set at 25% for the year 2014[196]. - The corporate income tax rate for the Singapore subsidiary is lower at 20%[196]. Accounting Policies - The financial statements are prepared based on the going concern assumption and comply with the relevant accounting standards[117]. - The group has not made any changes to accounting policies or estimates during the reporting period[190]. - The group has not corrected any prior period accounting errors during the reporting period[191].