Financial Performance - As of June 30, 2022, the revenue was RMB 16.589 billion, a decrease of 16.9% compared to the same period in 2021[7]. - As of June 30, 2022, the net profit was RMB 154 million, down 32.7% year-on-year[7]. - The earnings per share as of June 30, 2022, was RMB 0.09, a decrease of RMB 0.04 compared to 2021[7]. - In 2022, the total revenue was RMB 42.26 billion, a decrease of 19.14% from RMB 52.25 billion in 2021[21]. - The company's net profit for the first half of 2022 was RMB 154 million, a decrease of approximately RMB 75 million compared to the same period last year[78]. - Operating revenue for the period from January 1 to June 30, 2022, was RMB 16,589,225 thousand, a decrease of 16.9% compared to RMB 19,970,407 thousand in the same period of 2021[155]. - Net profit attributable to shareholders of the parent company for the same period was RMB 159,234 thousand, down 32.8% from RMB 236,829 thousand in the prior year[158]. - The total profit for the period was RMB 215,737 thousand, a decline of 23.5% compared to RMB 282,080 thousand in the previous year[155]. - The company reported a net profit margin of 0.94% for the first half of 2022, down from 1.15% in the same period of 2021[158]. Contract and Project Details - The new contract value for the first half of 2022 was RMB 21.229 billion, a decrease of 3.1% from RMB 21.908 billion in the same period last year[11]. - The proportion of new contracts from housing construction was 71.59% in 2022, up from 67.81% in 2021[14]. - The new contract value from infrastructure construction was RMB 4.226 billion in the first half of 2022, down from RMB 5.225 billion in the same period last year[19]. - The new contract value from housing construction was RMB 15.197 billion, an increase from RMB 14.855 billion in the previous year[15]. - The proportion of new contracts from public building projects increased to 57.23% in 2022, compared to 30.28% in 2021[16]. - The company primarily generates revenue from construction contracting services, including housing and infrastructure projects[10]. - The company is a leading non-state-owned construction group in China, focusing on various construction projects[10]. - The largest new contract in residential construction was for the Longtun New City project, valued at RMB 9.54 billion, located in Hebei Province[24]. - The total contract amount for public buildings included RMB 19.43 billion for the China Academy of Chinese Medical Sciences Hospital[27]. - The total contract amount for municipal infrastructure construction was RMB 7.25 billion for the Baoding City River System Comprehensive Management project[29]. Research and Development - The company has initiated 167 enterprise-level R&D projects in the first half of 2022, with R&D expenses amounting to RMB 25.46 million for 230 projects in 2021[48]. - Research and development expenses for the first half of 2022 amounted to RMB 22 million, an increase of RMB 8 million compared to the same period in 2021, due to new construction technology R&D projects[71]. - The company has received 93 new patents, including 3 invention patents, and filed 65 new patent applications by the end of June 2022[51]. - The company has been recognized with 22 awards for technological progress in the construction industry in Hebei Province[49]. Financial Position and Cash Flow - As of June 30, 2022, the company's cash and cash equivalents were approximately RMB 7.055 billion, a decrease of RMB 1.755 billion from the end of 2021, primarily due to cash outflow from operating activities[81]. - The company's operating revenue for the six months ended June 30, 2022, decreased by approximately RMB 3.381 billion to RMB 16.589 billion, primarily due to a decline in construction contracting business by RMB 3.525 billion[64]. - The housing construction business contributed RMB 11.318 billion in revenue, down RMB 1.951 billion compared to the same period last year, mainly due to the completion of several large projects[66]. - The infrastructure construction business revenue decreased by RMB 1.220 billion year-on-year, attributed to the completion of certain projects[68]. - Cash inflow from operating activities decreased to RMB 26,265,200 thousand, down 11% from RMB 29,757,767 thousand in the same period last year[166]. - Cash outflow from operating activities decreased to RMB 28,199,740 thousand, down 11% from RMB 31,628,734 thousand in the same period last year[166]. - Net cash flow from operating activities was negative at RMB (1,934,540) thousand, compared to RMB (1,870,967) thousand in the same period last year[166]. - Cash inflow from investment activities decreased significantly to RMB 13,690 thousand, down 54% from RMB 29,906 thousand in the same period last year[169]. - Cash inflow from financing activities was RMB 1,717,162 thousand, down 36% from RMB 2,671,568 thousand in the same period last year[169]. Shareholder Information - The total issued share capital of the company as of June 30, 2022, is RMB 1,761,383,500, consisting of 1,761,383,500 shares[128]. - The company did not declare a final dividend for the year ended December 31, 2021, to ensure stable operations and long-term benefits for shareholders[123]. - The company did not recommend an interim dividend for the six months ended June 30, 2022[124]. - As of June 30, 2022, Mr. Li Baoyuan directly held 1,300,000,000 shares, representing 73.80% of the total shares in the company[131]. - Mr. Li Baoyuan is viewed as having an interest in 1,300,000,000 shares through Ganbao Investment[132]. - Ganbao Investment directly held 5.54% of the company's shares as of June 30, 2022[132]. - A total of 146 individuals collectively held 60.39% of Zhongru Investment's shares and agreed to follow Ganbao Investment's decisions[137]. Asset and Liability Overview - As of June 30, 2022, the total assets amounted to RMB 62,716,628 thousand, a decrease from RMB 66,947,253 thousand as of December 31, 2021, representing a decline of approximately 6.5%[150][153]. - The total liabilities were RMB 56,698,819 thousand as of June 30, 2022, down from RMB 61,074,661 thousand at the end of 2021, indicating a reduction of about 7.3%[153]. - The company's contract assets decreased to RMB 37,526,593 thousand from RMB 39,658,331 thousand, a decline of about 5.4%[150]. - The total current liabilities decreased to RMB 54,271,037 thousand from RMB 59,330,829 thousand, representing a reduction of approximately 8.5%[153]. - The company's long-term borrowings increased significantly to RMB 2,420,373 thousand from RMB 1,729,252 thousand, an increase of about 40%[153]. Corporate Governance and Compliance - The financial statements are prepared in accordance with the Ministry of Finance's accounting standards and are consistent with the previous year's financial statements[192][195]. - The company’s subsidiary Hebei Zhongbao New Material Manufacturing Co., Ltd. was deregistered during the reporting period, but the consolidation scope remains consistent with the previous year[196]. - The company has no arrangements for directors or their family members to benefit from purchasing shares or debt securities[140].
河北建设(01727) - 2022 - 中期财报