LPXD(SZ:002114)2015-07-30 16:00Financial Performance - The company's operating revenue for the first half of 2015 was CNY 306,336,573.76, a decrease of 1.19% compared to CNY 310,020,926.39 in the same period last year[20]. - The net profit attributable to shareholders was a loss of CNY 37,810,872.93, representing a decline of 44.59% from a loss of CNY 26,151,035.53 in the previous year[20]. - The net cash flow from operating activities was negative at CNY -9,253,276.90, a significant decrease of 127.85% compared to CNY 33,221,634.89 in the same period last year[20]. - The basic and diluted earnings per share were both CNY -0.14, a decrease of 40.00% compared to CNY -0.10 in the same period last year[20]. - The weighted average return on net assets was -4.79%, down from -3.47% in the previous year[20]. - The company reported a net loss of CNY 256,582,806.13, compared to a loss of CNY 218,771,933.20 at the beginning of the period, indicating a worsening of approximately 17.3%[115]. - The net loss for the first half of 2015 was CNY 38,040,264.24, compared to a net loss of CNY 27,340,339.13 in the same period of 2014, representing a 39% increase in losses[122]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,692,089,666.37, an increase of 8.38% from CNY 1,561,249,990.13 at the end of the previous year[20]. - The total liabilities increased to CNY 921,064,510.21 from CNY 754,189,633.16, which is an increase of about 22.1%[115]. - The company's total equity decreased to CNY 771,025,156.16 from CNY 807,060,356.97, a decline of approximately 4.46%[115]. - The company's total liabilities reached CNY 870,504,135.32, an increase of 24% from CNY 702,067,530.04 year-on-year[122]. - The total equity decreased to CNY 688,661,034.81, down 6.6% from CNY 737,664,899.71 in the previous year[122]. Revenue Sources - The company achieved operating revenue of CNY 306,336,573.76, a decrease of 1.19% compared to the same period last year[30]. - The company's revenue from non-ferrous metal smelting was CNY 298,106,550.30, with a gross margin of 19.62%, showing a slight decrease of 0.95% compared to the previous year[39]. - The revenue from power generation decreased by 42.58% to CNY 2,511,135.53, while the gross margin improved by 32.30%[39]. - Zinc ingot revenue increased by 42.27% to CNY 265,996,103.60, with a gross margin of 14.97%[39]. Investment and Financing Activities - The company plans to raise funds through a non-public offering to acquire 100% equity of Hongtai Mining Co., Ltd. and to establish a zinc slag comprehensive recovery system technology transformation project[6]. - Financing cash flow was CNY 94,527,330.24, an increase of 175.87% year-on-year, attributed to increased borrowings[32]. - The company plans to conduct a private placement of shares to raise funds for asset acquisitions, aiming to enhance its zinc concentrate self-sufficiency rate and strengthen its integrated "mining, electricity, and metallurgy" business model[37]. Production and Operational Management - The production of self-produced lead concentrate was 1,557.684 tons, a decrease of 27.67% from the previous year, while sales dropped by 49.93% to 1,327.868 tons[31]. - The company produced 20,379.77 tons of zinc ingots, achieving 29.54% of its annual target[36]. - The company plans to enhance production management and financial risk control to meet annual production targets[36]. - The company will implement precise market management strategies to improve product sales amid a declining zinc smelting market[36]. Corporate Governance and Compliance - The company has maintained compliance with corporate governance standards as per relevant regulations[62]. - There were no significant litigation or arbitration matters reported during the period[63]. - The company has not faced any significant administrative or criminal penalties in the last five years, nor does it have any major civil litigation or arbitration related to economic disputes[86]. Environmental and Social Responsibility - The company was fined RMB 60,000 for environmental violations as per the administrative penalty from the local environmental protection bureau[91]. - The company has implemented measures to ensure wastewater is fully recycled in production, enhancing environmental protection awareness among employees[91]. Future Commitments and Projections - The company commits to maintaining a cash dividend policy, distributing no less than 15% of the annual distributable net profit in cash, and ensuring that the total cash distribution over any three consecutive years is not less than 30% of the average annual distributable profit for those years[89]. - The projected production for the Lu Maolin lead-zinc mine is 400,000 tons for 2016 and 500,000 tons for 2017, with net profit forecasts of 47.9471 million yuan and 54.0278 million yuan respectively[88]. - If the actual production of the Lu Maolin lead-zinc mine falls below the promised values, the company will compensate the difference based on a specific formula[89].