LEP(SH:600644)2020-08-21 16:00Financial Performance - The company's operating revenue for the first half of 2020 was CNY 1,064,561,459.76, a slight increase of 0.04% compared to CNY 1,064,086,636.57 in the same period last year[20]. - Net profit attributable to shareholders decreased by 13.62% to CNY 97,783,764.55 from CNY 113,205,474.87 year-on-year[20]. - The net profit after deducting non-recurring gains and losses increased by 19.32% to CNY 75,818,295.74 compared to CNY 63,540,034.42 in the previous year[20]. - Basic earnings per share decreased by 13.62% to CNY 0.1816 from CNY 0.2103 in the same period last year[22]. - The company reported a net profit attributable to shareholders of 97.78 million yuan, a decrease of 13.62% from 113.21 million yuan in the previous year[35]. - The operating revenue was 1.06456 billion yuan, slightly increasing by 0.04% from 1.06408 billion yuan year-on-year[35]. - The company reported a net loss of CNY 437,105,645.98, an improvement from a loss of CNY 538,195,678.86 in the previous period[94]. - The total comprehensive income for the period is CNY 89,234,940.80, which includes a net profit of CNY 98,351,219.39, indicating a strong performance[115]. - The company reported a decrease in retained earnings by CNY 6,265,530.65 due to various adjustments and distributions[115]. Cash Flow and Investments - The net cash flow from operating activities was CNY 53,634,250.37, down 26.81% from CNY 73,282,057.30 in the same period last year[21]. - The net cash flow from operating activities for the first half of 2020 was ¥53,634,250.37, a decrease of 26.8% compared to ¥73,282,057.30 in the same period of 2019[105]. - The net cash flow from investing activities improved by 49.19%, resulting in a net outflow of CNY 109.16 million, compared to a larger outflow of CNY 214.86 million in the previous year[38][39]. - The company reported a net cash flow from investing activities of -¥109,162,335.07, indicating a significant increase in investment expenditures compared to -¥214,861,225.92 in the previous year[105]. - The net cash flow from financing activities increased by 19.85% to CNY 107.59 million, reflecting a larger financing scale during the reporting period[39]. - Cash inflow from financing activities was ¥411,000,000.00, down from ¥484,000,000.00 in the first half of 2019, while cash outflow was ¥303,405,840.92, compared to ¥394,228,872.48 in the previous year[106]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 3,954,720,336.69, an increase of 4.56% from CNY 3,782,209,518.15 at the end of the previous year[21]. - Total liabilities rose to CNY 2,141,988,294.02, compared to CNY 2,076,408,104.97, marking an increase of about 3.16%[93]. - Owner's equity totaled CNY 1,812,732,042.67, up from CNY 1,705,801,413.18, reflecting a growth of approximately 6.26%[94]. - The total current assets as of June 30, 2020, amount to 710,012,796.25 RMB, an increase from 609,239,697.42 RMB at the end of 2019[92]. - The total amount of guarantees provided by the company, including those to subsidiaries, is 70 million RMB, which accounts for 4.42% of the company's net assets[65]. Operational Highlights - The company achieved a total electricity generation of 185.73 million kWh, an increase of 1.21% compared to 183.51 million kWh in the same period last year[35]. - The total electricity sales reached 1.42314 billion kWh, up by 0.95% from 1.40970 billion kWh year-on-year[35]. - The company experienced a decrease in gas sales volume to 84 million cubic meters, down by 5.47% from 88.86 million cubic meters last year[35]. - The water sales volume increased by 16.32% to 21.60 million cubic meters, compared to 18.57 million cubic meters in the previous year[35]. - The electricity comprehensive line loss rate was 7.20%, a decrease of 0.17 percentage points year-on-year[35]. Strategic Initiatives - The company signed strategic cooperation agreements with local government and enterprises to enhance business relationships and support future growth[36]. - The company plans to enhance its marketing strategies and expand into new energy services to mitigate risks and improve profitability[52]. - The company is focusing on rural revitalization and tourism development, aiming to enhance local infrastructure and promote the "Star Mountain Goods" brand through various sales channels[72]. - The company is actively promoting cultural activities to improve community spirit and meet the growing cultural needs of the local population[73]. Risk Management - The report includes a risk statement regarding forward-looking statements, emphasizing that future plans do not constitute a commitment to investors[6]. - The company faces operational risks due to the impact of COVID-19 on the hospitality and energy sectors, leading to decreased revenues[51]. Related Party Transactions - The company reported significant related party transactions, including purchasing electricity from Sichuan Electric Power Company for approximately ¥25,039.93 million, accounting for 63.48% of the total related party transaction amount[61]. - The total amount of related party transactions for the reporting period was ¥27,746.99 million, with a percentage of 70.34% of similar transactions[61]. Social Responsibility and Community Engagement - The company donated 850,000 RMB to implement an "ecological agriculture + rural tourism" poverty alleviation model in Xinxing Village[67]. - A total of 168 registered poor individuals were lifted out of poverty through various projects, with a total investment of 4.1 million RMB in industry development[69]. - The company has donated over 5 million RMB to Xinxing Village for infrastructure and development projects since the start of its assistance[71]. - The company’s poverty alleviation efforts have led to a poverty incidence rate of 0% in Xinxing Village for 2018 and 2019[71]. Accounting and Financial Reporting - The company implemented a new revenue recognition standard starting January 1, 2020, which resulted in an adjustment of contract assets to ¥27,910,999.17 and a decrease in prepayments by ¥278,912,442.66[74]. - The financial statements for the first half of 2020 comply with the requirements of the accounting standards and reflect the company's financial position as of June 30, 2020[139]. - The company has not reported any significant accounting errors that require retrospective restatement during the reporting period[76]. Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders was 28,000[82]. - The company’s major shareholder, Leshan Guotou Group, holds 103,608,320 shares, accounting for 19.24% of the total shares, with 22,860,700 shares pledged[79].