JLGF(SZ:000712)2023-08-30 16:00Cash Flow and Financing Activities - The net cash flow from operating activities for the first half of 2023 was -15,917,609.51 CNY, compared to -24,462,363.57 CNY in the same period of 2022, indicating an improvement [12]. - The net cash flow from investing activities was 168,998,211.10 CNY in the first half of 2023, up from 111,748.12 CNY in the first half of 2022, reflecting increased investment returns [13]. - The company raised 2,488,140,000.00 CNY through borrowings in the first half of 2023, compared to 1,085,000,000.00 CNY in the same period of 2022, showing a significant increase in financing activities [13]. - The company reported a cash inflow from financing activities of 2,708,140,000.00 CNY in the first half of 2023, compared to 1,524,000,000.00 CNY in the same period of 2022, indicating robust financing efforts [10]. - The cash outflow for debt repayment in the first half of 2023 was 2,441,799,996.00 CNY, significantly higher than 512,500,000.00 CNY in the first half of 2022, reflecting increased debt servicing [13]. - The net cash flow from financing activities was -153,122,987.87 CNY in the first half of 2023, compared to -53,814,622.58 CNY in the same period of 2022, suggesting increased financial pressure [13]. - The company’s cash flow from operating activities decreased to 222,765.44 CNY in the first half of 2023 from 485,160.93 CNY in the same period of 2022, indicating a decline in operational cash generation [12]. - The company’s cash and cash equivalents decreased by 42,386.28 CNY in the first half of 2023, compared to a decrease of 78,165,238.03 CNY in the same period of 2022, showing a reduced cash outflow [13]. Financial Performance - Total revenue for the reporting period reached ¥54,913,738.86, an increase of 188.24% compared to the same period last year [172]. - Net profit for the reporting period was ¥33,827,269.81, a 137.94% increase from a net loss of ¥89,164,799.40 in the previous year [172]. - Basic earnings per share improved to ¥0.04, up 140.00% from a loss of ¥0.10 per share in the same period last year [172]. - The total comprehensive income for the reporting period was ¥24,277,863.75, a significant increase of 171.50% compared to the previous year [172]. - The company’s total equity increased by 3.10% to ¥1,935,001,196.35 compared to the end of the last fiscal year [172]. - The company reported non-recurring gains and losses totaling -¥1,314,780.23 for the period [175]. Assets and Liabilities - Total assets at the end of the reporting period were ¥7,747,201,106.74, reflecting a 2.19% increase from the previous year [172]. - Total liabilities increased by 1.89% to ¥5,812,199,910.39 compared to the end of the last fiscal year [172]. - The company’s net assets declined by 4.90% to ¥5,179,207,703.95 compared to ¥5,445,810,289.09 at the end of the previous year [200]. - Total on-balance and off-balance sheet assets fell by 4.93% to ¥10,730,489,035.39 from ¥11,286,421,934.97 [200]. Equity and Ratios - The weighted average return on equity rose to 1.79%, an increase of 6.04 percentage points from -4.25% in the previous year [172]. - Liquidity coverage ratio decreased significantly by 194.02 percentage points to 188.31% from 382.33% [200]. - Net stable funding ratio dropped by 22.43 percentage points to 170.83% compared to 193.26% last year [200]. - Risk coverage ratio declined by 38.99 percentage points to 296.07% from 335.06% [200]. - Capital leverage ratio decreased by 1.83 percentage points to 30.71% from 32.54% [200]. - Net capital to net assets ratio fell by 3.80 percentage points to 63.63% from 67.43% [200]. - Net capital to liabilities ratio decreased by 3.77 percentage points to 61.29% from 65.06% [200]. - Net assets to liabilities ratio slightly decreased by 0.16 percentage points to 96.32% from 96.48% [200]. Compliance and Governance - The company has confirmed that all financial statements comply with accounting standards, ensuring accurate reflection of financial status and operational results [24]. - The company guarantees the accuracy and completeness of the semi-annual report, taking legal responsibility for any misrepresentation or omissions [156]. - The company ensures that all board members attended the meeting to review the semi-annual report [161]. Accounting Policies and Practices - The financial statements are prepared based on the company's and its subsidiaries' financial reports, reflecting the overall financial status, operating results, and cash flows of the corporate group [51]. - The company recognizes the income, expenses, and profits of newly acquired subsidiaries from the date of acquisition to the end of the reporting period in the consolidated income statement [52]. - The company assesses the fair value of investment properties quarterly and recognizes changes in fair value in the financial statements [75]. - The company uses the lowest price from the brokerage firms' published price ranges as the fair value for investment properties [75]. - The company measures financial assets at amortized cost if they meet specific criteria related to cash flow collection and asset sale [59]. - The company evaluates credit risk for financial instruments at each balance sheet date to determine expected credit losses [65]. - The company recognizes significant impairment losses for individual receivables based on the present value of expected future cash flows [66]. - The company adjusts the capital reserve and retained earnings based on the difference between the disposal price and the net asset share of subsidiaries during partial disposals [55]. - The company capitalizes borrowing costs when certain conditions are met, including interruptions in the construction or production of qualifying assets lasting over 3 months [122]. - The company measures intangible assets at cost upon acquisition [81]. - The company recognizes internal research and development expenditures as intangible assets when specific criteria are satisfied, including technical feasibility and the ability to use or sell the asset [84]. - The company applies a percentage for bad debt provision based on the aging of receivables, with 100% provision for receivables over 5 years old [89]. - The company uses a perpetual inventory system for inventory valuation [92]. - The company determines the fair value of financial assets and liabilities according to relevant accounting standards, including impairment assessments for loans and financial guarantees [86]. - The company recognizes contract assets and liabilities based on the relationship between performance obligations and customer payments [114]. - The company applies straight-line amortization for intangible assets with a finite useful life, while indefinite-lived intangible assets are not amortized [108]. - The company uses the average method for depreciation across various asset categories, with annual depreciation rates ranging from 1.90% to 31.66% [104]. - The company recognizes expected liabilities when certain conditions are met, including the existence of a range of possible expenditures [117]. - The company has incurred capital expenditures for the acquisition or production of capitalizable assets, including cash payments and the transfer of non-cash assets [123]. - The estimated useful life of intangible assets includes 10 years for Zhongshan Securities website and trading seat fees, 5 years for software, and 48 years and 3 months for land use rights [124]. - Impairment testing is conducted for long-term assets when there are indications of impairment, with recoverable amounts being the higher of fair value less costs to sell and present value of future cash flows [125]. - Goodwill and intangible assets with indefinite useful lives undergo annual impairment testing [126]. - Government grants received are classified as either asset-related or income-related, with asset-related grants reducing the carrying amount of the related asset or recognized as deferred income [136][139]. - Income-related government grants are recognized as deferred income and accounted for in the period when the related costs or losses are recognized [139]. - The company must differentiate between asset-related and income-related portions of government grants for accounting purposes [139]. - The company recognizes employee benefits based on the fair value of non-monetary benefits provided to employees [130]. - The company confirms employee compensation liabilities for termination benefits when it cannot unilaterally withdraw from the plan [131]. - The company must recognize provisions for expected liabilities when future outflows of economic benefits are probable and can be reliably measured [132]. Business Operations - The company is actively involved in business expansion and investment consulting services, as indicated by its updated business scope [21]. - The company has undergone several changes in its legal representation and business scope over the years, reflecting its evolving operational strategy [21]. - The company has established a framework for recognizing government subsidies, ensuring compliance with relevant conditions and accounting practices [20].