MEP(SZ:000993)2025-08-28 14:05Financial Performance - The company's operating revenue for the first half of 2025 was ¥288,380,497.27, representing a 4.48% increase compared to ¥276,016,537.35 in the same period last year[18]. - Net profit attributable to shareholders was ¥71,188,226.11, a significant increase of 32.96% from ¥53,539,509.08 year-on-year[18]. - The net cash flow from operating activities surged to ¥60,560,180.79, marking a 1,297.15% increase compared to ¥4,334,564.23 in the previous year[18]. - Basic earnings per share rose to ¥0.16, reflecting a 33.33% increase from ¥0.12 in the same period last year[18]. - Operating revenue for the reporting period was CNY 288,380,497.27, representing a year-on-year increase of 4.48%[31]. - Operating costs rose by 5.08% year-on-year to CNY 152,907,049.36, while sales expenses decreased by 20.44%[31]. - The company reported a significant increase in tax expenses, up 36.12% year-on-year, mainly due to higher income tax expenses from its wind power subsidiary[31]. - The company reported a total auction amount of 315,255.34 yuan related to a legal case, with a supplementary compensation responsibility of 16.6% amounting to 9 million yuan[72]. - The total comprehensive income for the first half of 2025 is CNY 9,764,942.24, compared to CNY 11,541,042.06 in the first half of 2024, reflecting a decrease of approximately 15.4%[126]. Assets and Liabilities - Total assets at the end of the reporting period were ¥3,676,450,087.82, a slight increase of 0.59% from ¥3,654,997,186.67 at the end of the previous year[18]. - The company's net assets attributable to shareholders increased by 3.03% to ¥2,581,755,804.62 from ¥2,505,873,253.85 at the end of the previous year[18]. - Total current assets increased to ¥1,090,744,682.11 from ¥877,644,309.45, reflecting a growth of approximately 24.2%[114]. - Total non-current assets decreased to ¥2,585,705,405.71 from ¥2,777,352,877.22, indicating a decline of about 6.9%[114]. - Total liabilities decreased to ¥1,044,710,335.63 from ¥1,101,273,884.99, representing a reduction of approximately 5.1%[116]. - The company's equity attributable to shareholders increased to ¥2,581,755,804.62 from ¥2,505,873,253.85, reflecting a growth of about 3.0%[117]. - Short-term borrowings rose significantly to ¥9,583,256.89 from ¥307,127.21, indicating a substantial increase[116]. - The company reported a decrease in accounts payable to ¥164,769,788.73 from ¥185,666,090.46, which is a decline of approximately 11.2%[116]. Energy Production and Consumption - The total electricity consumption in China for the first half of 2025 was 48,418 billion kWh, with a year-on-year growth of 3.7%[24]. - The first industry electricity consumption reached 676 billion kWh, growing by 8.7% year-on-year[24]. - The second industry electricity consumption was 31,485 billion kWh, reflecting a 2.4% increase year-on-year[24]. - The company achieved a total hydropower generation of 43,678 MWh, a decrease of 5.49% year-on-year, and a total electricity sales volume of 42,925 MWh, down 6.34% due to reduced rainfall[26]. - Wind power generation increased by 3.74% year-on-year to 20,738 MWh, with electricity sales rising by 3.62% to 20,114 MWh, attributed to the operation of 20 wind turbines and increased wind speeds[26]. - The company's total installed capacity reached 577,200 kW by June 2025, with hydropower accounting for 62.6%, wind power 33.6%, and solar power 3.8%[26]. Investment and Financing - Investment income for the period was $15,399,122.20, accounting for 16.73% of total profit, primarily from equity investments in associated companies[36]. - Non-operating income reached $12,895,137.21, representing 14.01% of total profit, mainly from claims and compensation received during the reporting period[36]. - The company invested $31,606,112.27 during the reporting period, reflecting a 19.94% increase compared to the same period last year[43]. - The company has invested 31,455.69 million in bank wealth management products, with no overdue amounts reported[94]. - The company has a bank investment of 7,000 million with an interest rate of 3.55% and a return of 745.5 million for the period ending in March 2023[96]. Corporate Governance and Compliance - The semi-annual financial report has not been audited[69]. - The company has not engaged in any securities or derivative investments during the reporting period[46][47]. - There were no significant related party transactions during the reporting period, including daily operational transactions, asset or equity acquisitions, and joint external investments[76][77][78]. - The company has not experienced any bankruptcy reorganization matters during the reporting period[70]. - The company has not identified any issues affecting its ability to continue as a going concern for the next 12 months[147]. - The financial statements were approved by the board of directors on August 27, 2025[145]. Future Plans and Strategies - The company plans to focus on high-quality development and energy revolution in line with national policies and guidelines[24]. - The company aims to optimize its operational strategies to adapt to the new electricity market environment, transitioning from a policy-driven to a market-driven pricing mechanism[27]. - The company plans to enhance its market trading capabilities and actively participate in electricity market transactions, focusing on the Bai Cheng Fuyu Wind Farm as a pilot project[28]. - The company is actively negotiating plans regarding its investments in hydropower and wind power companies, aiming for potential asset injection into the listed company by December 31, 2025[66]. - The company plans not to distribute cash dividends, issue bonus shares, or convert capital reserves into share capital for the semi-annual period[62].