MEP(SZ:000993)2018-08-29 16:00Financial Performance - The company's operating revenue for the first half of 2018 was CNY 202,774,638.90, a decrease of 61.23% compared to the same period last year[17]. - The net profit attributable to shareholders was a loss of CNY 93,353,520.75, representing a decline of 260.66% year-on-year[17]. - The net cash flow from operating activities was negative at CNY -11,981,409.86, down 112.10% from the previous year[17]. - The company's operating profit was -88.03 million yuan, a decrease of 210.94% year-on-year, while the net profit attributable to the parent company was -93.35 million yuan, a decrease of 260.66% compared to the previous year[34]. - The basic earnings per share were CNY -0.2039, a decline of 230.87% compared to the same period last year[17]. - The total comprehensive income for the first half of 2018 was a loss of CNY 94,025,752.65, compared to a profit of CNY 57,798,354.93 in the same period of 2017[150]. - The company reported a net loss of CNY 116,045,893.95 in the current period compared to a loss of CNY 34,041,161.30 in the previous period[146]. - The total operating costs amounted to CNY 241,340,686.63, compared to CNY 444,180,446.73 in the previous year, indicating a significant reduction[149]. Asset and Liability Management - The total assets at the end of the reporting period were CNY 4,175,436,940.06, a decrease of 6.24% from the end of the previous year[17]. - The net assets attributable to shareholders decreased by 4.18% to CNY 2,141,817,303.31[17]. - The company's total assets included CNY 1,923,545,366.99 in fixed assets, which increased due to the transfer of construction projects to fixed assets[43]. - The long-term borrowings decreased by 4.39% to CNY 606,450,000, reflecting a reduction in long-term loans for various projects[43]. - The company's inventory was CNY 541,661,159.00, a decrease of 1.98% compared to the previous year, due to the recognition of property sales[43]. - Total liabilities decreased from CNY 2,132,135,578.16 to CNY 1,948,048,101.56, a decline of around 8.6%[141]. Operational Efficiency and Strategy - The company is actively preparing for market rule research and improving operational efficiency in response to industry challenges[28]. - The company is focusing on enhancing its operational efficiency and exploring potential mergers and acquisitions to strengthen its market position[55]. - The company is exploring new strategies for market expansion and technology development in the renewable energy sector[55]. - The company has a strong talent pool with extensive experience in power production and management, enhancing its operational capabilities[30]. Investment and Development - The company is focusing on investments in new energy projects, including wind power development[54]. - The total investment amount for the reporting period was ¥118,795,005.85, representing a 90.99% increase compared to the previous year's investment of ¥62,200,000.00[46]. - The company has invested ¥94,383,568.14 in the construction of a wind power project, with an expected completion progress of 95%[48]. - The total investment in fixed assets for the reporting period reached ¥150,231,932.53, with a cumulative investment of ¥710,013,932.53[49]. Legal and Compliance Issues - The company is currently undergoing liquidation proceedings related to the case filed by Shanghai Dongming Investment Co., Ltd.[80]. - The company has faced a total claim amount of ¥2,246.88 million in another lawsuit, which is also pending[81]. - The company is actively working with legal professionals to address ongoing litigation matters[82]. - The company reported a total of 1,688.73 million in claims related to various legal disputes[82]. - The company continues to engage in legal strategies to mitigate risks associated with ongoing litigation[82]. Social Responsibility and Community Engagement - The company has invested a total of 121.1 million yuan in poverty alleviation efforts during the first half of 2018[114]. - A total of 11 impoverished households have been lifted out of poverty through the company's targeted assistance initiatives[115]. - The company has committed 62.1 million yuan to support public welfare projects in the vicinity of its power station construction sites[114]. - The company has sponsored 8 million yuan for the construction of a nursing home in a targeted poverty alleviation village[114]. Shareholder and Corporate Governance - The total number of ordinary shareholders at the end of the reporting period was 35,274[123]. - The top shareholder, Ningde State-owned Assets Investment Management Co., Ltd., holds 47.31% of the shares, totaling 216,673,883 shares[124]. - The company did not undergo any changes in its controlling shareholder or actual controller during the reporting period[126]. - The company has established a corporate governance structure including a board of directors and various operational departments to enhance management efficiency[177]. Financial Reporting and Compliance - The financial report for the first half of 2018 was not audited[137]. - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring compliance and accuracy[181]. - The company adheres to the principle of historical cost for asset measurement, ensuring conservative financial reporting[181]. - The company recognizes financial assets or liabilities when it becomes a party to a financial instrument contract[195].