Cosmos(SZ:002133)2015-08-27 16:00Financial Performance - The company's operating revenue for the first half of 2015 was ¥584,632,512.36, representing a 122.88% increase compared to ¥262,308,370.10 in the same period last year[19]. - The net profit attributable to shareholders was a loss of ¥2,616,957.50, a decline of 118.81% from a profit of ¥13,913,160.21 in the previous year[19]. - The net cash flow from operating activities was ¥560,680,096.55, a significant increase of 1,382.75% compared to a negative cash flow of ¥43,709,286.75 in the same period last year[19]. - The company reported a significant decline in net profit after deducting non-recurring gains and losses, with a loss of ¥8,789,531.13 compared to a profit of ¥11,644,492.26 in the previous year, marking a 175.48% decrease[19]. - The company reported a net profit loss of between -45 million to -22 million CNY for the first nine months of 2015, compared to a net profit of 47.81 million CNY in the same period of 2014[61]. - The total comprehensive income attributable to the parent company was -¥2,616,957.50, compared to ¥13,913,160.21 in the previous period, indicating a decline in overall profitability[134]. - The company reported a net profit distribution to owners of CNY -76.373 million, indicating a loss in profit allocation[149]. Assets and Liabilities - Total assets at the end of the reporting period were ¥8,722,710,256.18, an increase of 1.88% from ¥8,561,668,868.33 at the end of the previous year[19]. - The total liabilities as of the end of the reporting period were CNY 5,466,090,294.60, slightly up from CNY 5,221,050,782.33 at the beginning of the year[124]. - The total current liabilities were CNY 4,081,929,046.35, an increase from CNY 3,064,938,241.37, showing a rise of approximately 33%[124]. - The total equity attributable to shareholders of the parent company decreased to CNY 2,787,307,034.88 from CNY 2,851,855,526.38, a decline of approximately 2.26%[124]. - The total amount of guarantees provided by the company reached 248,500, with an actual guarantee balance of 148,524, representing 53.29% of the company's net assets[91]. Cash Flow - The net cash flow from financing activities was -¥566.93 million, a decrease of 107.91% year-on-year, primarily due to a net repayment of bank loans[31]. - The net cash flow from investment activities reached ¥181.96 million, up 1,582.73% year-on-year, mainly due to the maturity of financial products[31]. - Cash and cash equivalents at the end of the period totaled ¥1,330,020,568.80, up from ¥674,075,188.25 at the end of the previous period[139]. - The company reported a net cash decrease of ¥79,849,449.91, compared to a decrease of ¥111,234,101.53 in the previous period[142]. Investment and Projects - The company completed new construction area of 37,700 square meters, achieving 94% of the annual plan, with a contract sales amount of ¥1.749 billion, fulfilling 69.96% of the annual target[32]. - The total planned investment for the "Wulin Waterfront" project is 2.5 billion CNY, with 73.54 million CNY invested in the current reporting period and a cumulative investment of 1.92 billion CNY as of the report date[60]. - The company has ongoing projects that are still under construction and have not yet generated revenue[60]. - The company has temporarily used CNY 200 million of raised funds to supplement working capital, with a total limit of CNY 350 million approved by the shareholders' meeting[51]. Governance and Compliance - The company’s independent directors confirmed their responsibilities were fulfilled and that minority shareholders' rights were adequately protected[64]. - The company has revised its governance structure in accordance with relevant laws and regulations, enhancing its governance level[70]. - There were no significant litigation or arbitration matters during the reporting period[71]. - The company did not engage in any asset acquisitions or sales during the reporting period[73][74]. Shareholder Information - The total number of shares issued by the company reached 23,882.42 million by June 30, 2015[156]. - The largest shareholder, Hangzhou Pinghai Investment Co., Ltd., holds 17.41% of the shares, with a total of 134,757,000 shares[107]. - The company reported a total of 774,144,100 shares outstanding, with 41.19% being restricted shares prior to the change, which decreased to 36.45% after the change[105]. Market and Economic Conditions - The real estate market in Hangzhou is expected to maintain a "stable volume and price" trend in the second half of 2015, with quality improvement projects likely to drive future sales[28]. - The overall sales of commercial housing in China for the first half of 2015 reached ¥24,409 billion, showing a year-on-year growth of 3.1%[27]. - The company noted that the real estate investment sentiment among developers remains low, with a 33.8% decrease in land acquisition area[27]. Operational Strategy - The company emphasizes a pragmatic and steady operational style, avoiding speculative behaviors and focusing on customer needs[37]. - The management team is experienced and innovative, contributing to the company's long-term development through effective resource integration[36]. - The company has a strong risk and financial cost control capability, leveraging its 30 years of experience in real estate development[35]. Financial Reporting - The company's half-year financial report was not audited, which may impact investor confidence in the reported figures[99]. - The financial statements are prepared based on the going concern assumption, indicating the company has the ability to continue its operations for at least 12 months from the reporting date[161]. - The company adheres to the accounting policies and estimates that reflect its actual production and operational characteristics, ensuring compliance with relevant accounting standards[162].