SGC(SH:601139)2022-08-26 16:00Financial Performance - The company's operating revenue for the first half of 2022 was CNY 14.80 billion, an increase of 53.58% compared to CNY 9.64 billion in the same period last year[18]. - The net profit attributable to shareholders decreased by 36.77% to CNY 538.77 million from CNY 852.05 million year-on-year[18]. - The basic earnings per share decreased by 36.67% to CNY 0.19 from CNY 0.30 in the same period last year[19]. - The weighted average return on net assets decreased by 2.69 percentage points to 4.27% from 6.96% year-on-year[20]. - The net cash flow from operating activities was negative at CNY -987.15 million, a decrease of 232.84% compared to CNY 743.10 million in the same period last year[18]. - The company's total revenue for the reporting period was 14.80 billion RMB, a 53.58% increase year-on-year[51]. - The company's total profit for the first half of 2022 was CNY 153,154,610.85, a decline of 86.48% from CNY 1,132,887,478.32 in the same period of 2021[126]. - The company reported a net loss attributable to owners of CNY -65,637,871.79, reflecting a decline in profitability[141]. Assets and Liabilities - The total assets increased by 12.84% to CNY 38.47 billion compared to CNY 34.10 billion at the end of the previous year[18]. - The total liabilities rose by 19.30% to CNY 23.89 billion from CNY 20.03 billion at the end of the previous year[18]. - The company's short-term borrowings increased by 111.65% to 4.186 billion RMB, reflecting increased financing needs[54]. - The company's total liabilities reached CNY 23.89 billion, up from CNY 20.03 billion, indicating a growth of approximately 19.0%[114]. - The company's total assets at the end of the period amounted to CNY 12,011,048,579.90, demonstrating growth in asset base[142]. Cash Flow - The company's net cash flow from operating activities decreased by 232.84% to -987.15 million RMB due to rising natural gas procurement costs[51]. - Cash flow from operating activities showed a net outflow of CNY 987,149,570.82, compared to a net inflow of CNY 743,096,578.22 in the first half of 2021[128]. - Cash inflow from financing activities rose significantly to 5,234,000,000.00 RMB, up from 2,660,000,000.00 RMB in the same period last year, marking a 96% increase[132]. - The company reported a cash and cash equivalents net increase of 506,323,542.84 RMB, contrasting with a decrease of -349,416,492.74 RMB in the first half of 2021[132]. Investments and Subsidiaries - The company added new subsidiaries, which contributed to the increase in operating revenue[20]. - The company has included four new subsidiaries in the consolidated financial statements for the current year[149]. - The company has 100% ownership in Heze Shenran Clean Energy Co., Ltd. and Shenzhen Shenran New Energy Co., Ltd., and 51.22% ownership in Dongguan Shenran New Energy Technology Co., Ltd.[58]. Market and Operations - The company operates 57 urban pipeline gas projects across 13 provinces, serving over 5.95 million pipeline gas users and covering a population of over 20 million[33]. - The company has a stable annual supply of 4 billion cubic meters of natural gas from a procurement agreement with PetroChina[32]. - The company signed a 10-year LNG procurement contract with BP (China) Investment Co., with annual procurement volumes of 22.5 million tons for 2023-2024 and 30 million tons for 2025-2032[32]. - The company has developed a comprehensive energy service model, integrating natural gas, photovoltaics, and biomass to provide cooling, heating, electricity, and hydrogen services[29]. Research and Development - The company’s research and development expenses increased by 218.07% to 270.77 million RMB, driven by the expansion of subsidiaries[51]. - The company reported a significant increase in research and development expenses, totaling CNY 270,767,223.62, compared to CNY 85,127,690.79 in the first half of 2021, marking a growth of 218.5%[121]. Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders was 54,468[94]. - The top shareholder, Shenzhen Municipal People's Government State-owned Assets Supervision and Administration Commission, holds 1,153,583,786 shares, representing 40.1% of total shares[96]. - The total number of shares held by the top ten shareholders amounts to 2,455,000,000 shares, indicating a concentrated ownership structure[98]. Compliance and Governance - The company has maintained compliance with all commitments related to avoiding conflicts of interest and competition[79]. - The company continues to operate on a going concern basis, with sufficient funds to support operations and meet debt obligations for the next 12 months[151]. Accounting Policies - The financial statements comply with the requirements of the enterprise accounting standards, reflecting the company's financial position and operating results accurately[153]. - The accounting treatment for business combinations under common control measures the consideration paid and net assets acquired at book value, with adjustments made to capital reserves or retained earnings as necessary[157].