Financial Performance - The company reported revenue of RMB 179,744,000 for the six months ended June 30, 2022, a decrease of approximately 10% compared to RMB 199,303,000 for the same period in 2021[15]. - Gross profit for the same period was RMB 52,741,000, reflecting a decline of 35% from RMB 81,528,000 in the previous year[15]. - Operating profit was RMB 48,839,000, down 33% from RMB 72,449,000 year-on-year[15]. - The net loss attributable to equity holders was RMB 38,065,000, compared to a loss of RMB 30,862,000 in the prior year, representing an increase in loss of 23%[15]. - The loss for the reporting period was approximately RMB 39,453,000, compared to a loss of RMB 18,762,000 for the same period last year[35]. - The company reported a comprehensive loss of RMB 60,171,000 for the six months ended June 30, 2022, compared to RMB 11,766,000 in the same period of 2021[112]. - The company's basic and diluted loss per share for the period was RMB (0.019), compared to RMB (0.016) in the previous year[110]. - Total equity attributable to owners decreased to RMB 17,286 thousand from RMB 55,236 thousand year-over-year, representing a decline of 68.7%[116]. - Total liabilities increased to RMB 2,001,636 thousand from RMB 1,955,819 thousand, reflecting a rise of 2.3%[116]. Revenue Sources - Revenue from wind farm operations was approximately RMB 175,454,000, a decrease of about 12% from RMB 199,303,000 in the previous year[21]. - Revenue from external customers for the six months ended June 30, 2022, was RMB 179,744 million, compared to RMB 199,303 million for the same period in 2021, indicating a decrease of approximately 9.8%[171]. - The company had one major customer contributing over 10% of total revenue, with contributions of RMB 175,454 million for the six months ended June 30, 2022, down from RMB 199,303 million in the previous year[170]. Costs and Expenses - The sales cost for the reporting period was approximately RMB 127,003,000, accounting for about 71% of the wind power operating revenue, compared to 59% in the same period last year[28]. - Administrative expenses decreased by approximately 19% to about RMB 21,420,000, down from RMB 26,438,000 in the same period last year[31]. - Employee benefits costs, including director remuneration, totaled RMB 20,970 million for the six months ended June 30, 2022, compared to RMB 31,230 million for the same period in 2021, reflecting a decrease of approximately 32.9%[178]. - Financing costs for the reporting period were approximately RMB 80,227,000, an increase from RMB 77,993,000 in the same period last year[33]. Debt and Financing - The net debt as of June 30, 2022, was RMB 1,531,972,000, with a net asset value of RMB 257,924,000, resulting in a debt-to-equity ratio of 593%[15]. - Total borrowings increased to approximately RMB 1,796,989,000 as of June 30, 2022, from RMB 1,703,717,000 as of December 31, 2021, an increase of about RMB 93,272,000[38]. - The company has been actively restructuring its debt obligations through various amendments to the convertible bond agreements over the years[46]. - The company entered into a deferral agreement with convertible bondholders to extend the maturity of the convertible bonds by one year, from March 25, 2021, to March 25, 2022[54]. Strategic Focus and Market Position - The company aims to enhance its market position in renewable energy by focusing on wind power development and seeking new investment opportunities[19]. - The company plans to continue its strategic development in the wind energy sector to achieve sustainable growth and profitability[19]. - The company aims to enhance its wind farm business and expand into other clean energy sectors, positioning itself as a pillar company in the renewable energy industry in Northern China[77]. - The company will continue to seek acquisition opportunities to strengthen its operational capabilities in the wind power sector and expand its maintenance services[77]. Cash Flow and Assets - Cash flow from operating activities showed a net cash inflow of RMB 33,328 thousand, down 43.1% from RMB 58,631 thousand in the previous year[127]. - Cash flow from investing activities resulted in a net cash inflow of RMB 2,179 thousand, compared to a net outflow of RMB 23,827 thousand in the same period last year[127]. - Cash flow from financing activities recorded a net outflow of RMB 16,223 thousand, a significant improvement from a net outflow of RMB 446,859 thousand in the previous year[129]. - As of June 30, 2022, the total assets as of June 30, 2022, were RMB 2,259,560,000, a slight increase from RMB 2,237,007,000 as of December 31, 2021[114]. Corporate Governance and Compliance - The company has complied with the corporate governance code, with no chairman appointed during the reporting period[89]. - An internal control consultant was hired to review and improve the company's internal controls and risk management systems[90]. - The company’s financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and comply with applicable disclosure requirements[135]. Shareholder Information - The company has issued and fully paid 1,979,141,000 shares at HKD 0.01 each as of June 30, 2022, unchanged from December 31, 2021[200]. - No interim dividend was recommended for the reporting period ending June 30, 2021[94]. - The company did not declare any interim dividend for the six months ended June 30, 2022, consistent with the previous year[189].
瑞风新能源(00527) - 2022 - 中期财报