乐山电力(600644) - 2021 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2021 was ¥1,257,030,423.79, representing an increase of 18.08% compared to ¥1,064,561,459.76 in the same period last year[22]. - The net profit attributable to shareholders of the listed company decreased by 14.30% to ¥83,797,269.36 from ¥97,783,764.55 in the previous year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 7.44% to ¥81,456,378.49 compared to ¥75,818,295.74 in the same period last year[22]. - The net cash flow from operating activities significantly increased by 101.68% to ¥108,167,922.86 from ¥53,634,250.37 in the previous year[22]. - Basic earnings per share decreased by 14.30% to CNY 0.1556 compared to the same period last year[23]. - The company achieved a revenue of CNY 125,703.04 million, an increase of 18.08% year-on-year[34]. - Operating revenue for the current period reached CNY 1,257,030,423.79, an increase of 18.08% compared to CNY 1,064,561,459.76 in the same period last year[37]. - Operating costs increased by 20.06% to CNY 959,803,852.47, primarily due to rising costs of purchased electricity and gas[38]. - The company reported a net loss of CNY 348,129,373.85 in retained earnings, an improvement from a loss of CNY 431,926,643.21[99]. - The comprehensive income for the first half of 2021 amounts to CNY 72,580,418.16, indicating a positive performance in earnings[126]. Assets and Liabilities - The net assets attributable to shareholders at the end of the reporting period were ¥1,675,725,360.18, up 5.44% from ¥1,589,338,612.07 at the end of the previous year[22]. - Total assets at the end of the reporting period were ¥3,868,947,351.72, a decrease of 3.25% from ¥3,998,923,590.43 at the end of the previous year[22]. - Total liabilities decreased to CNY 1,958,195,176.83 from CNY 2,177,183,422.63[99]. - Current liabilities totaled CNY 1,181,505,188.75, down from CNY 1,433,958,357.77[99]. - Long-term borrowings increased to CNY 402,500,000.00 from CNY 374,000,000.00[99]. - The total amount of related party transactions for the company was 44,841.85 thousand RMB, accounting for 81.92% of similar transactions[80]. Cash Flow - The company reported a net cash flow from operating activities of CNY 108,167,922.86, compared to CNY 53,634,250.37 in the first half of 2020[113]. - The net cash and cash equivalents at the end of the first half of 2021 was CNY 131,898,281.83, a decrease from CNY 273,503,735.68 at the end of the first half of 2020[114]. - Cash inflow from operating activities was primarily driven by sales revenue of CNY 1,444,341,626.20, up from CNY 1,174,746,350.30 in the first half of 2020[113]. - The company experienced a net cash decrease of CNY -96,750,676.03 in cash and cash equivalents during the first half of 2021[114]. Investments and Subsidiaries - The company holds a 21.60% stake in Sichuan Shengtian New Energy Development Co., Ltd., which focuses on photovoltaic and renewable energy projects[41]. - Significant investment of CNY 3.48 billion in Sichuan Shengtian New Energy Development Co., Ltd. resulted in a profit of CNY 992.57 million for the period[41]. - The company has invested in 15 solar power stations with a total installed capacity of 471.38 MW across multiple provinces, promoting clean energy development[63]. Business Operations - The total electricity sales volume increased by 25.62% to 178,775 million kWh compared to the previous year[33]. - The company completed a power generation of 24,005 million kWh, representing a growth of 29.25% year-on-year[33]. - The company is actively expanding its comprehensive energy business, contributing to the increase in operating revenue[37]. - The company plans to enhance its electricity sector capabilities by improving grid planning and reducing electricity purchase costs[49]. - The company aims to expand its water supply market by integrating assets and increasing production capacity by the end of 2023[49]. - The gas segment will focus on enhancing supply capabilities and developing new business opportunities, including commercial gas installations[50]. Social Responsibility and Community Engagement - The company donated 600,000 yuan in 2021 to support rural revitalization efforts, including infrastructure and cultural development projects[66]. - The company is implementing a poverty prevention and monitoring mechanism to ensure stability for previously impoverished populations[71]. - The company is promoting ecological planting and breeding with county-level support funds to enhance income for impoverished communities[72]. - The company is actively engaging in "consumption poverty alleviation" by collaborating with local supermarkets to prioritize the procurement of quality agricultural products from impoverished areas[70]. Corporate Governance and Compliance - The company has not disclosed any significant contracts or other major matters during the reporting period[86]. - The company’s share capital structure has not changed during the reporting period[87]. - The company has not reported any changes in the number of restricted shares or any new strategic investors becoming top shareholders during the reporting period[92]. - The company has adopted the new leasing standards starting from January 1, 2021, which requires all leases to be recognized as right-of-use assets and lease liabilities[140]. Risk Management - The company faces risks from policy constraints, market fluctuations, and competition, particularly in the electricity sector where profit margins are under pressure[48]. - The company utilizes forward-looking information to assess whether the credit risk of financial instruments has significantly increased since initial recognition[166]. Accounting and Financial Reporting - The financial statements are prepared in accordance with the accounting standards and reflect the company's financial position, operating results, changes in equity, and cash flows accurately[142]. - The company recognizes foreign exchange differences in profit or loss, except for specific capitalized assets and available-for-sale foreign monetary items[157]. - The company assesses expected credit losses based on the entire lifetime of financial assets, with specific loss rates applied to different aging categories[168].