福建金森(002679) - 2015 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2015 was ¥67,991,050.97, representing a 3.14% increase compared to ¥65,922,080.75 in the same period last year[20]. - The net profit attributable to shareholders decreased by 89.43% to ¥457,216.59 from ¥4,325,359.13 year-on-year[20]. - The net cash flow from operating activities was negative at ¥-147,203,640.43, a decline of 85.69% compared to ¥-79,275,692.03 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was ¥-8,054,853.71, a decrease of 198.93% compared to ¥-2,694,517.46 in the same period last year[20]. - The basic earnings per share dropped by 90.00% to ¥0.003 from ¥0.03 year-on-year[20]. - Operating profit decreased to -¥8,036,692.28, a decline of 201.42% compared to the previous year[34]. - The company's main business revenue accounted for over 93.3% of total revenue, with a stable growth in operations[30]. - The company reported a significant increase of 314.48% in taxes paid, totaling CNY 11,930,181.20, due to the payment of business taxes accrued in 2014[35]. - The net profit attributable to the parent company decreased by 89.43% to CNY 457,216.59, primarily due to increased financial expenses and asset impairment losses[35]. Assets and Liabilities - The total assets at the end of the reporting period increased by 14.56% to ¥1,591,386,543.87 from ¥1,389,108,794.87 at the end of the previous year[20]. - Long-term borrowings rose by 73.25% to ¥595,922,694.77, driven by increased bank loans for timber acquisitions[34]. - The company's total liabilities amounted to CNY 859,726,014.50, compared to CNY 673,345,524.04, reflecting an increase of approximately 27.7%[136]. - Current liabilities totaled CNY 303,020,168.64, down from CNY 328,597,067.68, a decrease of approximately 7.8%[136]. - The company's equity attributable to shareholders decreased to CNY 560,042,941.92 from CNY 598,018,679.15, a decline of about 6.3%[136]. Cash Flow - The cash inflow from financing activities surged by 187.30% to CNY 373,000,000.00, driven by increased bank loans due to the company's expanded operational plans[35]. - The operating cash outflow increased by 44.67% to CNY 221,811,981.05, mainly due to payments related to forest acquisitions and seedling purchases[35]. - The net cash flow from operating activities was CNY -147,203,640.43, which is a deterioration from CNY -79,275,692.03 in the previous period[147]. - The company reported cash inflows from financing activities of CNY 373,000,000.00, an increase from CNY 129,830,000.00 in the previous period[148]. - The net cash flow from investment activities was -23,871,655.43 yuan, compared to -20,256,359.12 yuan in the previous period, reflecting a decline of approximately 17.5%[151]. Investments and Acquisitions - The company acquired 18,600 acres of forest land during the reporting period, bringing the total operational forest area to 750,000 acres[28]. - The company completed 7,980 acres of site renewal and 22,265 acres of young forest cultivation during the reporting period[28]. - The company has invested a total of 21,332.2 million RMB in the 6.8 million mu fast-growing industrial raw material forest project, with 18,380.2 million RMB (86.16%) actually invested by the end of the reporting period[66]. - The company plans to use 256.69 million yuan to acquire forest resources covering an area of 116,667 mu, with a timber stock of 1,182,379 cubic meters[104]. - The project of acquiring Tengrongda's 15.14 million mu of forest assets has achieved a benefit of 8.90 million yuan during the reporting period[57]. Operational Highlights - The company sold 58,480 cubic meters of timber during the reporting period, with stable prices for fir and mixed wood compared to the previous year[28]. - The company completed 6.69 million cubic meters of timber production, achieving 44.6% of its annual target[37]. - The company's green seedling revenue increased by 18.12%, accounting for 8.86% of total operating income[36]. - The gross profit margin for the forestry segment was 72.50%, with a slight increase of 1.59% compared to the previous year[39]. - The company continues to focus on acquiring forest resources, emphasizing the maintenance of a high proportion of artificial forests to enhance its core competitiveness[42]. Financial Management - Financial expenses increased by 27.32% to ¥25,129,482.07, attributed to expanded business operations and increased bank loans[33]. - The company’s cash and cash equivalents increased by 234.26% to ¥26,659,004.43, reflecting improved cash management[34]. - The cash paid for purchasing goods and accepting labor services increased by 48.41% to CNY 179,568,933.37, reflecting the company's expanded business investments[35]. - The company incurred financial expenses of CNY 24,175,131.62, up from CNY 19,371,398.58 in the previous period, indicating rising costs[142]. - The company’s management expenses rose to CNY 18,713,081.60 from CNY 16,146,892.94, reflecting increased operational costs[142]. Governance and Compliance - The company has established a governance structure including a shareholders' meeting, board of directors, and supervisory board to ensure effective management[167]. - The financial statements are prepared based on the going concern assumption, adhering to the accounting standards set by the Ministry of Finance[169]. - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of listing[98]. - The company has not engaged in any asset acquisitions or sales during the reporting period[79][80]. - There are no significant litigation or arbitration matters reported during the period[77]. Future Outlook - The company aims to expand its forest resources to 800,000 mu, currently at 740,000 mu, with a completion deadline yet to be specified[74]. - The company plans to distribute a cash dividend of 0.90 RMB per 10 shares, approved at the 2014 annual general meeting[69]. - Future outlook and performance guidance were not explicitly detailed in the provided documents[161].