ZHEFU(SZ:002266)2017-08-28 16:00Financial Performance - The company's operating revenue for the first half of 2017 was CNY 535,927,519.73, a slight increase of 0.12% compared to CNY 535,302,701.43 in the same period last year[19]. - Net profit attributable to shareholders increased by 43.09% to CNY 51,444,084.86, up from CNY 35,953,104.87 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was CNY 45,448,261.36, representing a 33.38% increase from CNY 34,073,103.32 year-on-year[19]. - Basic earnings per share rose by 44.44% to CNY 0.026, compared to CNY 0.018 in the same period last year[19]. - The company achieved operating revenue of 535.93 million yuan, a year-on-year increase of 0.12%[37]. - The net profit attributable to the parent company was 51.44 million yuan, representing a year-on-year increase of 43.09%[37]. - The company reported a net cash flow from operating activities of RMB 84.21 million, a slight decrease of 0.34% year-on-year[48]. - The company reported a net profit for the first half of 2017 reached CNY 72,512,137.64, compared to CNY 57,884,626.26 in the previous year, reflecting a growth of 25.3%[162]. - The profit attributable to the parent company's shareholders was CNY 51,444,084.86, up from CNY 35,953,104.87, indicating a significant increase of 43.1%[162]. Assets and Liabilities - The total assets of the company at the end of the reporting period were CNY 6,973,012,884.08, reflecting a growth of 3.69% from CNY 6,724,982,789.90 at the end of the previous year[19]. - The total assets of Zhejiang Fu Water Power reached approximately 2.12 billion CNY, with a net profit of 2.07 million CNY[78]. - The company's total liabilities increased to CNY 3.432 billion from CNY 3.235 billion[154]. - The company's total assets amounted to CNY 5,896,960,916.61, an increase from CNY 5,626,117,203.55, representing a growth of 4.8%[159]. - Total liabilities rose to CNY 2,775,760,579.59 from CNY 2,518,302,275.68, which is an increase of 10.2%[159]. Investments and Expenditures - The company acquired a 32% stake in Norway's RAINPOWER HOLDING AS, enhancing its capabilities in high-head hydraulic turbine design and manufacturing[39]. - The company's development expenditures increased by 267% compared to the end of the previous year, driven by increased investment in hydropower project R&D[32]. - The company plans to raise up to RMB 1.5 billion through a private placement to invest in the Batang Toru hydropower project in Indonesia and to supplement working capital[44]. - The company reported an investment income of RMB 77.97 million, accounting for 98.52% of total profit, primarily from long-term equity investments[53]. - Long-term equity investments increased to ¥1,901,777,346.87, representing 27.27% of total assets, up from 23.41% in the previous period[56]. Cash Flow and Financial Management - Cash and cash equivalents saw a net increase of RMB 7.54 million, a significant decrease of 82.68% compared to the previous year[48]. - The company reported a decrease in financial expenses from CNY 29,233,609.64 to CNY 8,680,246.91, a reduction of 70.3%[162]. - The company raised 50 million yuan from the bond issuance to repay bank loans and supplement working capital, which has been fully utilized[137]. - The company maintained a loan repayment rate of 100% during the reporting period[144]. - The total bank credit line obtained was CNY 4.272 billion, with an unused credit line of CNY 1.994 billion[146]. Shareholder Information - The company reported a total share count of 1,978,719,849, with 25.77% being restricted shares and 74.23% being unrestricted shares[116]. - The largest shareholder, Sun Yi, holds 20.22% of the shares, totaling 400,043,484 shares, with 300,032,613 shares pledged[122]. - The total number of shares held by the top ten shareholders includes significant pledges, with Sun Yi's shares being the most substantial[123]. - The company reported no changes in the controlling shareholder during the reporting period[125]. - The company has a total of 509,956,670 shares, including locked-up shares[121]. Corporate Governance and Compliance - The financial statements were approved by the board on August 25, 2017[186]. - The company has no significant litigation or arbitration matters during the reporting period[88]. - There were no media controversies reported during the period[90]. - The company did not face any penalties or rectification issues during the reporting period[91]. - The company has not engaged in any significant contracts during the reporting period[107]. Future Outlook - The net profit attributable to shareholders for the first three quarters of 2017 is expected to increase by 25.00% to 65.00%, ranging from 63.07 million to 83.25 million CNY[79]. - The increase in profit is primarily due to a rebound in water power equipment contract orders and an increase in energy management contract revenue[79]. - The company has not initiated any targeted poverty alleviation work during the reporting period[108]. - There are no subsequent plans for targeted poverty alleviation[109].