PRCO(SZ:002225)2014-08-11 16:00Financial Performance - The company achieved a revenue of CNY 1,300,093,441.54, representing an increase of 11.93% compared to the same period last year[18]. - Net profit attributable to shareholders reached CNY 87,795,029.42, a growth of 47.02% year-on-year[18]. - The net profit after deducting non-recurring gains and losses was CNY 84,228,274.84, up by 46.77% from the previous year[18]. - The company's basic earnings per share increased to CNY 0.11, reflecting a rise of 37.50% compared to the same period last year[18]. - The company achieved operating revenue of CNY 1,300,093,441.54, an increase of 11.93% compared to the same period last year[25]. - The net profit attributable to shareholders was CNY 87,795,000, reflecting a growth of 47.02% year-on-year[25]. - The company expects net profit attributable to shareholders for the first nine months of 2014 to increase by 30.00% to 50.00%, amounting to between CNY 110,646,800 and CNY 127,669,400[44]. - The company recorded a total comprehensive income of CNY 88,264,191.57, compared to CNY 63,967,708.35 in the same period last year, indicating a growth of 37.9%[108]. - The net profit for the current period is CNY 44,133,186, showing a significant increase compared to the previous year[127]. Assets and Liabilities - Total assets at the end of the reporting period amounted to CNY 3,971,694,283.68, a growth of 4.98% from the end of the previous year[18]. - The net assets attributable to shareholders were CNY 1,906,067,813.81, which is a 2.55% increase from the previous year[18]. - Total assets as of the end of the reporting period amounted to CNY 3,204,035,194.99, compared to CNY 3,070,282,526.20 at the beginning of the period, indicating a growth of 4.34%[105]. - Total liabilities increased to CNY 1,487,693,459.57, up from CNY 1,359,097,785.80, marking an increase of 9.43%[106]. - The company's total equity reached CNY 1,716,341,735.42, slightly up from CNY 1,711,184,740.40, showing a marginal increase of 0.3%[106]. - The total owner's equity at the end of the current period is CNY 1,716,341,000, reflecting an increase from the previous year's CNY 1,206,494,000[129]. - The company's total liabilities at the end of the current period are CNY 201,581,000, reflecting a decrease from the previous year[126]. Cash Flow - The company reported a significant decrease in net cash flow from operating activities, which was CNY 47,710,144.66, down by 47.12% compared to the previous year[18]. - Operating cash flow from activities decreased by 47.12% to CNY 47,710,144.66, attributed to a lower sales collection rate[25]. - The total cash and cash equivalents at the end of the period is ¥66,974,628.00, down from ¥95,369,295.23, a decline of approximately 29.8%[115]. - The company reported a net increase in cash and cash equivalents of 13,716,383.14 CNY for the current period[119]. Dividends and Shareholder Returns - The company plans to not distribute cash dividends or issue bonus shares for this period[5]. - The company plans to distribute a cash dividend of 0.50 yuan for every 10 shares, with a total of 792,787,035 shares as the base[45]. - The company distributed dividends amounting to 78,476,933.62 CNY during the reporting period[119]. - The total cash outflow from financing activities was 318,713,981.62 CNY, compared to 623,707,507.01 CNY in the previous period[119]. Market Expansion and Strategy - The management expressed confidence in achieving the annual operational goals despite a complex business environment[24]. - The company is actively expanding its market presence and enhancing its competitive edge through mergers and acquisitions[24]. - The company plans to acquire 100% equity of Yushan Metallurgy and Zhengzhou Huit, with a total fundraising of CNY 138,000,000 pending approval from the China Securities Regulatory Commission[27]. - The company completed 46.85% of its annual sales revenue target and 56.44% of its net profit target for the year 2014 in the first half of the year[27]. Research and Development - Research and development investment increased by 45.76% to CNY 50,286,716.14, primarily due to enhanced R&D efforts and the consolidation of Zhengzhou Huawi's R&D expenses[25]. Governance and Compliance - The company’s board consists of 11 members, including 4 independent directors, ensuring a diverse governance structure[139]. - The company adheres to the Chinese Accounting Standards, ensuring the accuracy and completeness of its financial statements[141]. - The company reported no penalties or rectification issues during the reporting period[78]. Inventory and Asset Management - The company's inventory includes raw materials, work in progress, finished goods, and turnover materials[175]. - The inventory valuation method is based on the weighted average method[176]. - The net realizable value of inventory is determined by the lower of cost and net realizable value, with provisions for inventory impairment made for damaged or obsolete items[177]. - The company employs a perpetual inventory system for inventory management[178].