Financial Performance - For the six months ended June 30, 2022, the company's operating revenue was RMB 887.54 million, an increase of 2.56% compared to RMB 843.39 million for the same period in 2021[11]. - The total profit for the same period was RMB 89.71 million, a significant decrease of 47.3% from RMB 170.24 million in 2021[11]. - Net profit for the six months ended June 30, 2022, was RMB 63.76 million, down 49.3% from RMB 125.53 million in the previous year[11]. - Revenue from construction, maintenance, and design services for the first half of 2022 was RMB 22.54 million, a decrease of RMB 12.99 million or 36.56% compared to RMB 35.53 million in the same period of 2021[29]. - The company's heating service revenue was RMB 81,822.62 million, up 3.32% from RMB 79,196.76 million in the previous year[46]. - The gross profit for the six months ended June 30, 2022, was RMB 127.36 million, down 37.97% from RMB 205.31 million in the same period of 2021, primarily due to significant increases in coal prices and extended heating periods mandated by the government[56]. - The total comprehensive income for the period ended June 30, 2022, was RMB 63,762,348.25, a decrease of 49.1% compared to RMB 125,529,999.62 for the same period in 2021[1]. Operational Metrics - As of June 30, 2022, the total heating area served by the company was 62.07 million square meters, an increase of 3.10% from 60.20 million square meters in 2021[15]. - The number of heating customers served was 509,528, an increase of 0.74% from 505,788 customers in the same period last year[15]. - The estimated heat purchase quota for the first half of 2022 was approximately 13.28 million GJ, an increase from 13.13 million GJ in the same period of 2021[26]. - The actual consumption of heat in the first half of 2022 was 13.00 million GJ, up from 11.82 million GJ in the first half of 2021, indicating a utilization rate of 97.9% compared to 90% in 2021[26]. Assets and Liabilities - The total assets as of June 30, 2022, were RMB 231.94 million, down from RMB 289.44 million at the end of 2021[11]. - Total liabilities as of June 30, 2022, were RMB 136.85 million, a decrease from RMB 195.42 million at the end of 2021[11]. - As of June 30, 2022, the company reported current assets totaling RMB 1,071,797,537.77, a decrease from RMB 1,584,025,122.09 as of December 31, 2021, representing a decline of approximately 32.3%[127]. - The total liabilities decreased to RMB 1,368.46 million as of June 30, 2022, down 30.0% from RMB 1,954.16 million at the end of 2021[131]. Research and Development - The company obtained 8 utility model patents and 3 software copyrights during the reporting period, reflecting its commitment to innovation and technology development[39]. - The company has engaged in strategic collaborations with local universities to advance technology innovation and research projects[34]. - The company will continue to enhance its research and development capabilities in the heating sector and accelerate the implementation of research outcomes[82]. Cost Management - The company's operating costs for the six months ended June 30, 2022, were RMB 76,018.66 million, representing a 12.85% increase from RMB 67,361.46 million in the same period of 2021[50]. - The cost of purchased heat increased by 18.03% to RMB 46,658.24 million from RMB 39,529.35 million in the previous year, mainly due to rising coal procurement prices[54]. - The company reported a significant decrease in maintenance and repair costs, which fell by 35.28% to RMB 1,407.80 million from RMB 2,175.31 million in the previous year[54]. Corporate Governance - The company has established a modern corporate governance structure that includes effective checks and balances among the shareholders' meeting, board of directors, supervisory board, and senior management[86]. - The audit committee held two meetings during the reporting period to discuss various financial and internal control matters[93]. - The company has appointed three independent non-executive directors with appropriate professional qualifications[92]. Taxation and Financial Policies - The company benefits from a 15% corporate income tax rate as a high-tech enterprise, with the qualification certificate valid for three years[196]. - The company is exempt from value-added tax on heating fees collected from residents until the end of the 2020 heating period, as per government policy[191]. - The actual tax burden for Jilin Province Hengxin Electric Power Sales Co., Ltd. for the first half of 2022 was 2.5%[200]. Future Outlook - The company plans to continue upgrading its smart platform system and enhance heating service quality in the second half of 2022, focusing on energy conservation and user comfort[81]. - The company aims to promote the green and intelligent transformation of the heating industry in line with national carbon neutrality goals[14]. - The company is actively exploring new technologies and materials through independent research and collaboration with social organizations and universities[39].
春城热力(01853) - 2022 - 中期财报