渤海轮渡(603167) - 2025 Q2 - 季度财报(更正)

Important Notice The board and management guarantee report accuracy, disclose the 2025 interim profit distribution plan, and warn of forward-looking statement investment risks - The company's board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report content[3] - The 2025 semi-annual profit distribution plan is a cash dividend of 4 Yuan per 10 shares (including tax)[6] - Forward-looking statements regarding future plans and development strategies in the report do not constitute a substantive commitment to investors, warning of investment risks[7] - No non-operating funds occupied by controlling shareholders or other related parties, nor any external guarantees provided in violation of decision-making procedures[8] Definitions Common Terms Definitions This section defines key terms like CSRC, the Company, and the reporting period, ensuring clear understanding of the report content - The reporting period refers to January to June 2025[18] - Currency units Yuan, Ten Thousand Yuan, and Hundred Million Yuan refer to Renminbi[18] Company Profile and Key Financial Indicators Company Information This section provides Bohai Ferry Group Co., Ltd.'s official names and legal representative, Lu Daqiang - The company's Chinese name is Bohai Ferry Group Co., Ltd., abbreviated as Bohai Ferry[14] - The legal representative is Lu Daqiang[14] Contact Person and Information Discloses the contact address, telephone number, and email address for the company's Board Secretary Ning Wu and Securities Affairs Representative Du Chunhua - The Board Secretary is Ning Wu, and the Securities Affairs Representative is Du Chunhua[15] - Contact address is No. 2 Huanhai Road, Zhifu District, Yantai City, telephone 0535-6291223, email zqb@bhferry.com[15] Brief Introduction to Changes in Basic Information The company's registered and office addresses are both No. 2 Huanhai Road, Zhifu District, Yantai City, Shandong Province, with no historical changes during the reporting period - The company's registered and office addresses are both No. 2 Huanhai Road, Zhifu District, Yantai City, Shandong Province[16] - There were no historical changes to the company's registered address during the reporting period[16] Brief Introduction to Changes in Information Disclosure and Document Custody Locations The company's designated information disclosure newspaper is Securities Times, the website for semi-annual reports is www.sse.com.cn, and the report custody location is the company's Securities Investment Department, with no changes during the reporting period - Information disclosure newspaper is Securities Times, website is **www.sse.com.cn**[17](index=17&type=chunk) - No changes in information disclosure and document custody locations during the reporting period[17] Company Stock Summary The company's A-shares are listed on the Shanghai Stock Exchange, with stock abbreviation Bohai Ferry and stock code 603167 - The company's stock type is A-shares, listed on the Shanghai Stock Exchange[19] - Stock abbreviation is Bohai Ferry, stock code is 603167[19] Key Accounting Data and Financial Indicators In the first half of 2025, the company's operating revenue decreased by 5.02% year-on-year, net profit attributable to parent decreased by 2.95%, non-recurring net profit decreased by 32.56%, and net cash flow from operating activities increased by 201.81% - 2025 Semi-Annual Key Accounting Data | Indicator | Current Period (Jan-Jun) | Prior Year Period | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 728,185,226.03 | 766,658,205.83 | -5.02 | | Total Profit (Yuan) | 173,832,915.32 | 174,956,934.88 | -0.64 | | Net Profit Attributable to Shareholders (Yuan) | 101,583,369.16 | 104,675,986.08 | -2.95 | | Net Profit Attributable to Shareholders Excluding Non-Recurring Items (Yuan) | 28,892,947.46 | 42,841,390.61 | -32.56 | | Net Cash Flow from Operating Activities (Yuan) | 265,108,805.04 | 87,838,549.15 | 201.81 | - 2025 Semi-Annual Key Financial Indicators | Indicator | Current Period (Jan-Jun) | Prior Year Period | Change (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (Yuan/share) | 0.22 | 0.22 | 0.00 | | Diluted Earnings Per Share (Yuan/share) | 0.22 | 0.22 | 0.00 | | Basic EPS Excluding Non-Recurring Items (Yuan/share) | 0.06 | 0.09 | -33.33 | | Weighted Average Return on Net Assets (%) | 2.78 | 2.74 | Increased by 0.04 percentage points | | Weighted Average Return on Net Assets Excluding Non-Recurring Items (%) | 0.79 | 1.12 | Decreased by 0.33 percentage points | - The decrease in net profit excluding non-recurring items was primarily due to a year-on-year decline in demand in the Bohai Bay roll-on/roll-off vehicle transportation market[21] - The significant increase in net cash flow from operating activities was mainly due to the receipt of accounts receivable from transportation revenue at the end of last year and a year-on-year decrease in fuel purchase expenditures in the current period[21] Non-Recurring Gains and Losses Items and Amounts Total non-recurring gains and losses for the reporting period were 72.69 million Yuan, primarily comprising government subsidies, fair value change gains/losses, and entrusted investment gains/losses - 2025 Semi-Annual Non-Recurring Gains and Losses Items | Non-Recurring Gains and Losses Item | Amount (Yuan) | | :--- | :--- | | Government subsidies recognized in current profit/loss | 96,390,295.96 | | Gains/losses from changes in fair value of financial assets and liabilities held by non-financial enterprises, and gains/losses from disposal of financial assets and liabilities | 1,725,915.31 | | Gains/losses from entrusted investments or asset management | 2,663,798.81 | | Other non-operating income and expenses apart from the above | 4,640,005.22 | | Less: Income tax impact | 26,342,281.24 | | Impact on minority interests (after tax) | 6,370,512.84 | | Total | 72,690,421.70 | Management Discussion and Analysis Company's Industry and Main Business Operations The company's main businesses include passenger and cargo roll-on/roll-off transportation, financial leasing, cruise operations, and marine fuel sales - The company is a backbone enterprise in Bohai Bay passenger and cargo roll-on/roll-off transportation, operating 9 large passenger and cargo roll-on/roll-off vessels with a total tonnage of 275,900 tons[25] - In 2025, the company upgraded and renamed "Bohai Yinzhu" and "Bohai Jinzhu" vessels to "Lü'antong" and "Lü'anda" for Bohai Bay cargo roll-on/roll-off and new energy vehicle transportation[25] - The cruise business "Zhonghua Taishan" cruise was suspended during the reporting period[27] - Marine fuel sales business, operated by Dalian Bohai Ferry Fuel Co., Ltd., aims to reduce the company's fuel costs and generate revenue[27] Discussion and Analysis of Operations In H1 2025, the company faced market challenges, leading to decreased revenue and net profit, but maintained its leading position through operational optimization and market development - In the first half of 2025, the company achieved operating revenue of 728.1852 million Yuan, a year-on-year decrease of 5.02%; net profit attributable to parent company shareholders was 101.5834 million Yuan, a year-on-year decrease of 2.95%[28] - The company optimized its organizational structure, establishing a southern office and a new media marketing and promotion center to enhance market development and online marketing efficiency[29] - In the first half of 2025, 318,200 vehicle trips and 1.0875 million passenger trips were completed[30] - Financial leasing business confirmed a profit of 4.39 million Yuan due to an increase in the valuation of equity invested through Panmao (Shanghai) Investment Center (Limited Partnership)[30] - Fuel supply business strengthened market analysis and procurement strategies, shifting to multi-channel small-batch procurement to control risks and optimize resource and storage efficiency[31] Key Operating Performance This section analyzes the reasons for changes in key financial statement items and provides an in-depth analysis of assets, liabilities, investments, and major holding and participating companies (I) Main Business Analysis This section analyzes the reasons for changes in the company's operating revenue, operating costs, selling expenses, administrative expenses, financial expenses, other income, investment income, fair value change gains, credit impairment losses, and non-operating income - 2025 Semi-Annual Key Financial Statement Item Changes | Item | Current Period (Yuan) | Prior Year Period (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 728,185,226.03 | 766,658,205.83 | -5.02 | | Operating Cost | 603,458,482.01 | 627,517,058.64 | -3.83 | | Selling Expenses | 17,870,828.36 | 17,535,222.33 | 1.91 | | Administrative Expenses | 33,858,192.03 | 31,876,400.50 | 6.22 | | Financial Expenses | 2,195,055.78 | 954,179.42 | 130.05 | | Other Income | 96,390,295.96 | 105,024,038.27 | -8.22 | | Investment Income | 2,750,825.07 | 2,093,429.39 | 31.40 | | Fair Value Change Gains | 1,725,915.31 | -20,551,074.19 | 108.40 | | Credit Impairment Losses | 1,102,990.50 | -70,134.32 | 1,672.68 | | Non-Operating Income | 4,643,293.72 | 3,087,994.63 | 50.37 | | Net Cash Flow from Operating Activities | 265,108,805.04 | 87,838,549.15 | 201.81 | | Net Cash Flow from Investing Activities | -11,137,703.14 | 4,805,029.88 | -331.79 | | Net Cash Flow from Financing Activities | -203,892,623.98 | -153,836,874.07 | -32.54 | - Operating revenue decreased primarily due to a decline in demand in the Bohai Bay roll-on/roll-off vehicle transportation market[33] - Financial expenses increased by 130.05% mainly due to foreign currency borrowing exchange gains in the prior year period[33] - Net cash flow from investing activities decreased by 331.79% primarily due to payments for the upgrade and renovation of "Lü'antong" and "Lü'anda" vessels[33] - Fair value change gains shifted from a loss in the prior year period to a gain in the current period, mainly due to an increase in the valuation of equity invested through Panmao (Shanghai) Investment Center (Limited Partnership)[34] (III) Analysis of Assets and Liabilities At the end of the reporting period, the company's total assets and net assets attributable to the parent both decreased, with significant changes in accounts receivable, prepayments, other receivables, contract liabilities, and short-term borrowings - 2025 Semi-Annual End Asset and Liability Status (Partial) | Project Name | Current Period End (Yuan) | Change (%) | | :--- | :--- | :--- | | Accounts Receivable | 46,836,427.45 | -71.93 | | Prepayments | 6,537,274.64 | -87.80 | | Other Receivables | 239,772,756.34 | 38.88 | | Contract Liabilities | 12,017,598.56 | 485.45 | | Other Payables | 397,123,600.27 | 223.12 | | Short-Term Borrowings | 90,000,000.00 | -52.63 | - The decrease in accounts receivable was mainly due to the receipt of transportation revenue receivables from the end of the previous year[36] - The increase in other receivables was mainly due to the recognition of a large government subsidy during the reporting period[36] - Overseas assets amounted to 476.6733 million Yuan, accounting for 10.96% of total assets[38] (IV) Analysis of Investment Status The company primarily invests in financial assets measured at fair value through private equity funds, with a profit of 4.39 million Yuan recognized from increased equity valuation - 2025 Semi-Annual Financial Assets Measured at Fair Value | Asset Category | Beginning Balance (Ten Thousand Yuan) | Current Period Fair Value Change Gains/Losses (Ten Thousand Yuan) | Current Period Sales/Redemptions (Ten Thousand Yuan) | Ending Balance (Ten Thousand Yuan) | | :--- | :--- | :--- | :--- | :--- | | Private Equity Funds | 18,919.10 | 172.59 | 527.80 | 18,563.90 | - The valuation of equity invested through Panmao (Shanghai) Investment Center (Limited Partnership) increased, resulting in a recognized profit of 4.39 million Yuan[43] (VI) Analysis of Major Holding and Participating Companies This section discloses the financial data of the company's major holding subsidiaries, which contributed to revenue and net profit in their respective business areas, though some subsidiaries incurred losses - Major Holding Subsidiary Financial Data (H1 2025) | Company Name | Main Business | Operating Revenue (Ten Thousand Yuan) | Operating Profit (Ten Thousand Yuan) | Net Profit (Ten Thousand Yuan) | | :--- | :--- | :--- | :--- | :--- | | Dalian Bohai Ferry Fuel Co., Ltd. | Fuel Sales | 24,787.89 | 1,191.40 | 902.13 | | Bohai Hentong Ferry Co., Ltd. | Cargo Roll-on/Roll-off Transportation | 9,599.56 | 1,480.47 | 1,012.75 | | Weihai Haida Passenger Transport Co., Ltd. | Passenger Roll-on/Roll-off Transportation | 13,610.54 | 4,908.80 | 4,045.84 | | Bohai Cruise Co., Ltd. | Cruise Tourism Services | 0.00 | -1,422.12 | -1,422.12 | | Tianjin Bohai Ferry Shipping Co., Ltd. | Cargo Roll-on/Roll-off Transportation | 1,352.96 | -968.49 | -968.49 | Other Disclosures This section discloses major risks such as maritime safety and market development, and details the progress of the company's "Quality Improvement, Efficiency Enhancement, and Return" special action - The company faces major risks including maritime safety transportation, future business expansion and market development, and interest rate risk[45] - The company completed the upgrade and renovation of 2 vessels for new energy vehicle transportation, "Lü'antong" and "Lü'anda" vessels, which are now operating on the Yantai-Dalian route, opening a new track for new energy vehicle transportation[46] - The company is revising its corporate governance system, including the Articles of Association, and has established an Environmental, Social, and Governance (ESG) Office to improve ESG governance[47][48] - Controlling shareholder Liaoyu Group has cumulatively increased its shareholding by 5.3264 million shares, accounting for 1.14% of the total share capital, with a cumulative increase amount of 45.9853 million Yuan[49] - The company plans to implement a 2025 interim cash dividend of 4 Yuan per 10 shares (including tax), totaling an estimated 187.66 million Yuan[50] - The company strengthened investor relations management through online platforms and offline activities, handling over 100 inquiries with a 100% response rate[51] Corporate Governance, Environment, and Society Changes in Directors, Supervisors, and Senior Management During the reporting period, Supervisor Cai Qian resigned - Supervisor Cai Qian resigned[53] Profit Distribution Plan The company's eighteenth meeting of the Sixth Board of Directors approved the 2025 semi-annual profit distribution plan, proposing a cash dividend of 4 Yuan per 10 shares (including tax) to all shareholders - The 2025 semi-annual profit distribution plan is a cash dividend of 4 Yuan per 10 shares (including tax)[53] Significant Matters Fulfillment of Commitments Controlling shareholder Liaoyu Group committed not to engage in competing businesses, not to illegally occupy company funds or assets, and to minimize related-party transactions, ensuring fairness, all of which were strictly fulfilled - Liaoyu Group committed not to operate businesses that compete with the issuer and has not invested in competing enterprises[56] - Liaoyu Group committed to strictly exercise shareholder rights, prevent illegal occupation of issuer's funds or assets, and not provide any form of guarantee[57] - Liaoyu Group committed to minimize related-party transactions, and for unavoidable ones, to follow fair, equitable, and open market-based pricing principles[57] - All commitments were timely and strictly fulfilled during the reporting period[56][57] Major Litigation and Arbitration Matters The company had no major litigation or arbitration matters during the reporting period - The company had no major litigation or arbitration matters in this reporting period[59] Share Changes and Shareholder Information Share Capital Change During the reporting period, there were no changes in the company's total share capital or share structure - During the reporting period, there were no changes in the company's total share capital or share structure[63] Shareholder Information As of the end of the reporting period, the company had 24,167 common shareholders, with Liaoyu Group as the controlling shareholder, holding 26.18% and having pledged some shares - As of the end of the reporting period, the total number of common shareholders was 24,167[64] - Top Ten Shareholders as of the End of the Reporting Period | Shareholder Name | Shares Held at Period End (shares) | Proportion (%) | Pledged, Marked, or Frozen Status (shares) | Shareholder Nature | | :--- | :--- | :--- | :--- | :--- | | Liaoyu Group Co., Ltd. | 122,804,875 | 26.18 | 58,739,200 (Pledged) | State-owned Legal Person | | Liaoning Communications Investment Co., Ltd. | 65,680,230 | 14.00 | None | State-owned Legal Person | | Shandong Hi-Speed Group Co., Ltd. | 21,426,302 | 4.57 | None | State-owned Legal Person | | Bank of Communications Co., Ltd. - Invesco Great Wall CSI Dividend Low Volatility 100 ETF | 6,204,767 | 1.32 | None | Other | - Controlling shareholder Liaoyu Group has cumulatively increased its shareholding by 5.3264 million shares, accounting for 1.14% of the total share capital, with a cumulative increase amount of 45.9853 million Yuan[67] Bond-Related Information Corporate Bonds and Debt Financing Instruments The company had no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments during the reporting period - The company had no corporate bonds or non-financial enterprise debt financing instruments during the reporting period[71] Convertible Corporate Bonds The company had no convertible corporate bonds during the reporting period - The company had no convertible corporate bonds during the reporting period[71] Financial Report Financial Statements This section provides the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity for the first half of 2025, comprehensively presenting the company's financial position, operating results, and cash flow - Includes consolidated balance sheet, parent company balance sheet, consolidated income statement, parent company income statement, consolidated cash flow statement, parent company cash flow statement, consolidated statement of changes in owners' equity, and parent company statement of changes in owners' equity[73][76][80][84][87][90][92][97] Company Basic Information Bohai Ferry Group Co., Ltd., established in 1998 and listed in 2012, has a registered capital of 469.14 million Yuan, with Liaoyu Group as its parent and ultimate controlling party, primarily engaged in passenger and cargo roll-on/roll-off transportation - The company was listed on the Shanghai Stock Exchange in September 2012[101] - As of June 30, 2025, the registered capital was 469.144503 million Yuan[101] - The parent company and ultimate controlling party are both Liaoyu Group Co., Ltd.[101] - Main business is water transportation, including passenger and cargo roll-on/roll-off transportation on routes such as Yantai to Dalian, Penglai to Lushun, Longkou to Lushun, and Weihai to Dalian[101] Basis of Financial Statement Preparation Financial statements are prepared in accordance with accounting standards issued by the Ministry of Finance and CSRC regulations, based on a going concern assumption, with no significant doubts about the ability to continue as a going concern - Financial statements are prepared in accordance with Enterprise Accounting Standards and CSRC's "Rules for Information Disclosure by Companies Issuing Securities No. 15"[102] - The company evaluated its ability to continue as a going concern for 12 months from the end of the reporting period and found no significant doubts[103] Significant Accounting Policies and Accounting Estimates This section details the company's significant accounting policies and estimates for financial statement preparation, covering business combinations, consolidated financial statements, financial instruments, inventories, fixed assets, intangible assets, impairment of long-term assets, employee compensation, revenue recognition, and government grants - Discloses financial assets classified into three categories: measured at amortized cost, measured at fair value through other comprehensive income, and measured at fair value through profit or loss[129] - Impairment provisions for financial assets such as accounts receivable and other receivables are recognized based on expected credit losses[146] - Fixed assets are depreciated using the straight-line method, with buildings depreciated over 30-40 years and vessels over 10-30 years[191] - Revenue is recognized when the customer obtains control of the related goods or services, at the transaction price allocated to that performance obligation[222] - Government grants are classified as asset-related or income-related, either reducing the carrying amount of the asset or recognized as deferred income, or recognized in current profit or loss[227][229] Taxation This section lists the company's main tax types and rates, including VAT, urban maintenance and construction tax, education surcharges, and corporate income tax, along with detailed explanations of tax incentives enjoyed by the company and its subsidiaries - Main Tax Types and Rates | Tax Type | Tax Base | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax | Sales of goods and taxable services income | 13%, 9%, 6%, 3% | | Urban Maintenance and Construction Tax | Amount of turnover tax payable | 7% | | Corporate Income Tax | Taxable income | 25%, 20%, 16.5% | - Bohai Cruise Co., Ltd., Bohai Ferry (Hong Kong) Leasing Co., Ltd., and Hong Kong Hengyang Shipping Co., Ltd. are subject to a Hong Kong corporate income tax rate of 16.5%, with some income exempt from profits tax[242][243] - The company and some subsidiaries enjoy small and micro enterprise corporate income tax preferential policies, calculating taxable income at 25% and paying corporate income tax at a rate of 20%[244] - The company enjoys corporate income tax preferential policies for employing disabled individuals and recruiting demobilized soldiers for self-employment[247] Notes to Consolidated Financial Statement Items This section provides detailed notes on major items in the consolidated financial statements, including cash, receivables, fixed assets, borrowings, and revenue, explaining period-end balances, changes, and reasons - Cash and bank balances at period-end were 250.19 million Yuan, of which 1.05 million Yuan was restricted as a tourism quality guarantee deposit[250][249] - Accounts receivable carrying amount at period-end was 46.84 million Yuan, a significant decrease of 71.93% from the beginning of the period, mainly due to the receipt of transportation revenue receivables from the end of the previous year[254][36] - Other receivables carrying amount at period-end was 239.77 million Yuan, an increase of 38.88% from the beginning of the period, mainly due to the recognition of a large government subsidy[271][36] - Fixed assets carrying amount at period-end was 3.145 billion Yuan, with vessels accounting for the vast majority[292] - Short-term borrowings at period-end were 90 million Yuan, a decrease of 52.63% from the beginning of the period, mainly due to repayment of bank loans[320][36] - Dividends payable at period-end were 375.32 million Yuan, a significant increase from the beginning of the period, mainly due to the accrual of declared but unpaid cash dividends at period-end[336][37] Research and Development Expenses During the reporting period, the company had no R&D project development expenditures that met capitalization conditions, nor any significant externally acquired R&D projects - During the reporting period, the company had no R&D project development expenditures that met capitalization conditions[387] Changes in Consolidation Scope During the reporting period, the company had no business combinations under non-common control, business combinations under common control, reverse acquisitions, or disposals of subsidiaries leading to loss of control - During the reporting period, the company had no business combinations under non-common control, common control, reverse acquisitions, or disposals of subsidiaries leading to loss of control[387][388] Interests in Other Entities This section details the company's equity interests in subsidiaries, joint ventures, and associates, covering various business areas and significant non-wholly owned subsidiaries - The company owns several wholly-owned or controlled subsidiaries, including Dalian Bohai Ferry Ticketing Co., Ltd., Bohai Cruise Co., Ltd., and Tianjin Bohai Ferry Shipping Co., Ltd.[389] - The company accounts for its interests in associates such as Yantai Tongsan Ferry Terminal Co., Ltd. (32.50% shareholding) and Shandong Shen International Bohai Logistics Technology Development Co., Ltd. (35.00% shareholding) using the equity method[396] - Important Non-Wholly Owned Subsidiaries Minority Interests | Subsidiary Name | Minority Shareholding (%) | Current Period Profit/Loss Attributable to Minority Shareholders (Yuan) | Period-End Minority Interest Balance (Yuan) | | :--- | :--- | :--- | :--- | | Dalian Bohai Ferry Fuel Co., Ltd. | 64.00 | 5,916,507.89 | 56,562,924.86 | | Bohai Hentong Ferry Co., Ltd. | 49.00 | 4,962,495.03 | 101,054,819.35 | | Weihai Haida Passenger Transport Co., Ltd. | 30.0333 | 11,972,552.06 | 60,192,087.17 | Government Grants At the end of the reporting period, the company recognized 144.58 million Yuan in government grants as receivables, with deferred income of 181.11 million Yuan, and 96.27 million Yuan recognized in current profit or loss - Government grants recognized as receivables at the end of the reporting period amounted to 144.58 million Yuan[400] - Deferred income related to government grants at the end of the period was 181.11 million Yuan[401] - 2025 Semi-Annual Government Grants Recognized in Current Profit or Loss | Type | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Income-related | 91,618,791.44 | 100,624,918.29 | | Asset-related | 4,655,737.80 | 4,460,910.24 | | Total | 96,274,529.24 | 105,085,828.53 | Risks Related to Financial Instruments The company faces credit, liquidity, and market risks, managing credit risk through assessment and collection policies, controlling liquidity risk via cash flow forecasts, and noting no floating-rate borrowings for interest rate risk - The company faces credit risk, liquidity risk, and market risk[403] - 90.55% of accounts receivable and 98.60% of other receivables are from the top five customers, indicating a certain degree of credit concentration risk[404] - As of June 30, 2025, the company had no floating-rate borrowings[407] Disclosure of Fair Value This section discloses the fair value of assets and liabilities measured at fair value at period-end, primarily other non-current financial assets (equity instrument investments) of 185.64 million Yuan, classified as Level 3 fair value measurements - Period-End Fair Value Measurement Items | Item | Level 3 Fair Value Measurement (Yuan) | Total (Yuan) | | :--- | :--- | :--- | | Total assets continuously measured at fair value | 185,639,001.07 | 185,639,001.07 | | Of which: Equity instrument investments | 185,639,001.07 | 185,639,001.07 | - The carrying amounts of financial assets and liabilities not measured at fair value are very close to their fair values[415] Related Parties and Related Party Transactions This section details the company's parent company, subsidiaries, joint ventures, associates, and other related parties, and lists related party transactions during the reporting period, including purchases, sales, leases, and fund transfers - The parent company is Liaoyu Group Co., Ltd., with a shareholding of 26.18%, and is the ultimate controlling party[418] - During the reporting period, the company purchased life rafts and light diesel from Liaoyu Group Co., Ltd., and paid ticket agency fees, passenger ticket agency fees, water fees, and berthing fees to Liaoyu Port Co., Ltd.[420] - The company leased laundry and office space, boiler rooms, and land from Liaoyu Group Co., Ltd., and leased ticket sales locations from Liaoyu Port Co., Ltd.[424] - The company lent 83.67 million Yuan to Weihai Changtong Ship Supplies Co., Ltd., which has been ordered to be repaid by court judgment[426] - Key management personnel compensation incurred in the current period was 1.28 million Yuan[428] Commitments and Contingencies At the end of the reporting period, the company had significant contingencies, including outstanding guarantees and letters of credit, notably a domestic letter of credit for 40 million Yuan for subsidiary marine fuel oil payments - As of June 30, 2025, the company had issued domestic letters of credit totaling 40 million Yuan for the payment of subsidiary marine fuel oil[433] Events After the Balance Sheet Date After the balance sheet date, the company plans to distribute profits or dividends totaling 375.32 million Yuan - After the balance sheet date, the company plans to distribute profits or dividends totaling 375.32 million Yuan[434] Notes to Parent Company Financial Statement Items This section provides detailed notes on major items in the parent company's financial statements, including accounts receivable, other receivables, long-term equity investments, operating revenue and cost, and investment income, explaining period-end balances, changes, and reasons - Parent company accounts receivable carrying amount at period-end was 27.44 million Yuan, a significant decrease from the beginning of the period[438][440] - Parent company other receivables carrying amount at period-end was 719.18 million Yuan, an increase from the beginning of the period, mainly including intercompany receivables within the consolidation scope and government grant receivables[446][450] - Parent company long-term equity investments carrying amount at period-end was 1.343 billion Yuan, primarily investments in subsidiaries[455] - Parent company operating revenue for the current period was 497.13 million Yuan, and operating cost was 430.35 million Yuan[459] - Parent company investment income primarily came from equity method accounting for long-term equity investments, totaling 0.087 million Yuan[461] Supplementary Information This section provides supplementary information, including a detailed statement of non-recurring gains and losses, and net asset return and earnings per share - 2025 Semi-Annual Non-Recurring Gains and Losses Details | Item | Amount (Yuan) | | :--- | :--- | | Government subsidies recognized in current profit/loss | 96,390,295.96 | | Gains/losses from entrusted investments or asset management | 2,663,798.81 | | Other non-operating income and expenses apart from the above | 4,640,005.22 | | Less: Income tax impact | 26,342,281.24 | | Impact on minority interests (after tax) | 6,370,512.84 | | Total | 72,690,421.70 | - 2025 Semi-Annual Net Asset Return and Earnings Per Share | Profit for the Reporting Period | Weighted Average Return on Net Assets (%) | Earnings Per Share (Yuan/share) | | :--- | :--- | :--- | | Net profit attributable to common shareholders of the company | 2.78 | 0.22 | | Net profit attributable to common shareholders of the company after deducting non-recurring gains and losses | 0.79 | 0.06 |