TJBE(SZ:000695)2018-08-23 16:00Financial Performance - The company's operating revenue for the first half of 2018 was ¥633,978,452.65, representing a 66.42% increase compared to ¥380,942,843.42 in the same period last year[16]. - The net profit attributable to shareholders was a loss of ¥13,934,351.32, an improvement of 8.10% from a loss of ¥15,162,203.54 in the previous year[16]. - The net cash flow from operating activities increased by 31.26% to ¥44,624,512.75, up from ¥33,996,199.55 in the same period last year[16]. - The total assets at the end of the reporting period were ¥1,729,791,958.88, a slight increase of 0.12% from ¥1,727,724,473.84 at the end of the previous year[16]. - The net assets attributable to shareholders decreased by 4.13% to ¥323,734,975.37 from ¥337,669,326.69 at the end of the previous year[16]. - The basic and diluted earnings per share were both -¥0.06, an improvement of 14.29% from -¥0.07 in the previous year[16]. - The weighted average return on net assets was -2.90%, an improvement of 1.83% from -4.73% in the previous year[16]. - The company achieved a main business revenue of 633.98 million yuan, an increase of 66.42% compared to the same period last year[28]. - The net profit for the period was -13.93 million yuan, with a reduction in loss by 8.10% year-on-year[28]. - The company’s operating costs rose to 585.50 million yuan, a 57.86% increase compared to the previous year[31]. - The steam sales revenue was 403.94 million yuan, with a slight increase of 9.89% year-on-year, while the gross margin dropped by 93.46%[32]. - The printing business contributed 215.51 million yuan in revenue, with a gross margin of 21.87%[32]. - The company reported a gross profit margin of approximately -1.0% for the first half of 2018, compared to -4.5% in the same period of 2017[147]. - The total profit for the first half of 2018 was a loss of CNY 9,154,558.00, compared to a loss of CNY 17,754,773.47 in the same period of 2017, reflecting a decrease in losses of approximately 48.6%[147]. Cash Flow and Investments - The company’s cash and cash equivalents decreased by 331.10% to -26.28 million yuan compared to the previous year[31]. - Cash and cash equivalents at the end of the reporting period amounted to ¥213,205,213.38, representing 12.33% of total assets, an increase from 12.23% in the same period last year[34]. - The total investment amount for the reporting period was ¥2,000,000.00, a drastic decrease of 97.22% compared to ¥71,964,000.00 in the same period last year[35]. - The company made a substantial investment of ¥2,000,000.00 in a new subsidiary, Tianjin Xinhua Printing Co., Ltd., acquiring a 51% stake[37]. - The net cash flow from investing activities was negative at CNY -62,390,033.30, compared to CNY -89,132,129.18 in the previous year, showing an improvement[156]. - The cash inflow from investment activities was CNY 140,000.00, while cash outflow was CNY 62,530,033.30, leading to a net cash flow of CNY -62,390,033.30[156]. Liabilities and Equity - Short-term borrowings decreased to ¥318,052,800.00, now 18.39% of total assets, down from 24.04% in the previous year, a reduction of 5.65%[34]. - Long-term borrowings decreased to ¥44,000,000.00, representing 2.54% of total assets, down from 12.64% last year, indicating a significant reduction[34]. - The total liabilities increased to CNY 1,248,914,235.53 from CNY 1,240,278,174.26, showing a growth of 0.54%[139]. - Owner's equity decreased to CNY 480,877,723.35 from CNY 487,446,299.58, a decline of approximately 1.39%[140]. - The company's total equity at the end of the reporting period is 243,727,139.00 yuan, a decrease from the previous year's total equity of 263,829,600.00 yuan, representing a decline of approximately 7.63%[171]. Strategic Plans and Market Position - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company plans to transfer 100% equity of its wholly-owned subsidiary, Taida Energy, to enhance capital operations and focus on profitable sectors[26]. - The company aims to enter new industries such as online education and cultural media through asset restructuring and mergers[26]. - The company is the sole heat energy supplier in the Tianjin Economic and Technological Development Zone, maintaining a monopoly position[26]. - The company is currently in a strategic development opportunity phase, having undergone a change in its controlling shareholder to Tianjin Publishing Media Group[50]. - The company is enhancing its capital operations to strengthen its market position and accelerate growth[50]. Compliance and Governance - The company emphasizes that forward-looking statements in the report do not constitute substantive commitments to investors[4]. - The company has not conducted an audit of its half-year financial report[59]. - The company is committed to fulfilling its promises related to industry competition and related party transactions, with ongoing compliance[57]. - The company reported no significant litigation or arbitration matters during the reporting period[61]. - There were no penalties or rectification measures taken against the company during the reporting period[62]. - The company and its controlling shareholders did not fail to fulfill any court judgments or have significant overdue debts[63]. - The company did not implement any stock incentive plans or employee shareholding plans during the reporting period[64]. - The company has not made any changes to its accounting policies or estimates during the reporting period, ensuring consistency in financial reporting[177]. Environmental and Social Responsibility - The company is actively completing the "ultra-low emission" transformation for its subsidiaries, including three 75t/h and three 130t/h circulating fluidized bed boilers, which are now in stable operation[91]. - The total emissions of sulfur dioxide (SO2) during the reporting period are 48.9 tons, while nitrogen oxides (NOX) emissions are 246.3 tons[91]. - The company has completed environmental impact assessments for its emission reduction projects in compliance with national requirements[93]. - The company has not engaged in any poverty alleviation initiatives during the reporting period and has no plans for future initiatives[96]. Related Party Transactions - The total amount of related party transactions during the reporting period was 15,186.1 million yuan, with a significant portion related to gas procurement[66]. - The company engaged in related party transactions with Tianjin Taida Gas Co., with a procurement price of 2.37 yuan per cubic meter for heating gas, totaling 8,257.53 million yuan, accounting for 30.19% of the same type of transactions[65]. - The company reported a related party transaction for recycled water procurement at a price of 4.50 yuan per cubic meter, totaling 946.58 million yuan, accounting for 3.46% of the same type of transactions[66]. - The company had a related party transaction for leasing with Tianjin Taida Investment Co., totaling 1,091 million yuan, accounting for 3.99% of the same type of transactions[70]. - The company had a related party loan from Tianjin Jingjin Cultural Development Co., totaling 11,005.32 million yuan, with an interest rate of 4.35%[70]. Board and Management Changes - The company appointed Zhang Yunfeng as a candidate for the ninth board of directors following the resignation of director Gao Yang on May 15, 2018[98]. - The company proposed Wang Long as a candidate for the ninth board of directors after the resignation of director Cui Xuesong on June 8, 2018[99]. - The company appointed Zhang Hongxia as the acting chairperson of the board after the resignation of chairman Xiao Zhanpeng on July 17, 2018[100]. - The company experienced changes in its board members, with several resignations and new appointments during the reporting period[131].