GED(SZ:000539)2015-08-28 16:00Financial Performance - The company's operating revenue for the first half of 2015 was CNY 12,911,553,232, a decrease of 13.76% compared to CNY 14,971,313,646 in the same period last year[19]. - Net profit attributable to shareholders of the listed company was CNY 1,720,995,015, an increase of 4.65% from CNY 1,644,460,546 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was CNY 1,516,376,522, down 8.05% from CNY 1,649,146,988 in the same period last year[19]. - The net cash flow from operating activities increased by 25.76% to CNY 5,702,180,434, compared to CNY 4,534,129,911 in the previous year[19]. - Total assets at the end of the reporting period were CNY 72,519,761,442, reflecting a growth of 4.97% from CNY 69,084,825,852 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company increased by 4.88% to CNY 22,350,256,396 from CNY 21,310,054,597 at the end of the previous year[19]. - Basic earnings per share rose to CNY 0.33, a 6.45% increase compared to CNY 0.31 in the same period last year[19]. - The weighted average return on net assets decreased to 7.74%, down 0.53% from 8.27% in the previous year[19]. Cash Flow and Investments - The total cash and cash equivalents increased by 158.53% year-on-year, reaching CNY 1.98 billion, driven by higher net inflows from operating activities[34]. - The company reported a decrease in operating costs by 16.40% year-on-year, amounting to CNY 9.18 billion[33]. - The company invested CNY 1.25 billion in external investments during the reporting period, an increase of 88.59% compared to the same period last year[40]. - The company plans to raise CNY 4 billion through a non-public offering of A-shares to fund new projects and replenish working capital[31]. - The company reported a net cash flow from investment activities of negative CNY -1,834,715,211, worsening from CNY -1,609,841,662 in the previous year[127]. Operational Highlights - The company completed a total power generation of 31.808 billion kWh, down 11.54% year-on-year, achieving 44.93% of the annual online electricity generation plan[34]. - The gross profit margin for the electricity segment was 28.89%, reflecting a slight increase of 2.25% year-on-year despite a decrease in revenue[37]. - The company is advancing several new projects, including the Shaoguan power plant and various wind power projects, in line with its development strategy[31]. - The company is focused on expanding its power generation capacity and enhancing operational efficiency through its subsidiaries[50]. Shareholder and Governance Information - The company does not plan to distribute cash dividends or issue bonus shares for this reporting period[4]. - The company has maintained compliance with corporate governance standards as per relevant laws and regulations[60]. - The company has commitments from shareholders holding more than 5% of shares that are ongoing into the reporting period[84]. - The company’s board of directors saw changes with the resignation of Chairman Pan Li on May 8, 2015, and Director Zhu Dejun on July 4, 2015, due to work changes[106]. Financial Position - The company's total liabilities increased to CNY 43,979,248,614, up from CNY 41,300,606,143, reflecting a growth of 6.5%[114]. - Non-current liabilities rose to CNY 27,211,314,097, compared to CNY 24,669,794,217, marking an increase of 10.2%[114]. - The company's asset-liability ratio at the end of the reporting period was 60.64%[90]. - The total equity attributable to shareholders increased to CNY 22,350,256,396, up from CNY 21,310,054,597, representing a growth of 4.9%[114]. Accounting and Financial Reporting - The financial statements are prepared based on the going concern assumption, indicating no significant issues affecting the company's ability to continue operations for at least 12 months from the reporting date[153]. - The financial reports comply with the accounting standards set by the Ministry of Finance, reflecting the company's financial position as of June 30, 2015, and the results for the first half of 2015[154]. - Revenue is recognized when it is probable that economic benefits will flow to the company and can be reliably measured, including electricity sales and service income[197]. - The company recognizes investment income based on the share of net profit or loss from joint ventures and associates, adjusting the book value of long-term equity investments accordingly[175].