HEGC(SZ:000883)2019-08-28 16:00Financial Performance - The company's operating revenue for the first half of 2019 was CNY 7,676,353,791.30, representing an increase of 28.46% compared to CNY 5,975,873,148.13 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was CNY 1,012,539,296.60, a decrease of 28.33% from CNY 1,412,701,189.54 year-on-year[18]. - The net profit after deducting non-recurring gains and losses was CNY 959,047,348.20, down 20.66% from CNY 1,208,821,509.75 in the previous year[18]. - The net cash flow from operating activities was CNY 1,222,752,818.82, a decline of 14.49% compared to CNY 1,429,899,812.90 in the same period last year[18]. - The basic earnings per share decreased by 27.27% to CNY 0.16 from CNY 0.22 in the same period last year[18]. - The diluted earnings per share also decreased by 27.27% to CNY 0.16 from CNY 0.22 year-on-year[18]. - The weighted average return on equity was 3.78%, down from 5.39% in the previous year, a decrease of 1.61%[18]. - The total profit for the period was 1.613 billion RMB, a decrease of 170 million RMB or 9.56%, primarily due to lower profits from the hydropower segment[38]. - The company reported a significant decrease in investment income of CNY 219,364,973.49, a decrease from CNY 428,338,889.96 in the previous year[180]. - The total comprehensive income for the first half of 2019 was CNY 1.04 billion, down from CNY 1.18 billion in the same period of 2018, a decrease of approximately 11.5%[186]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 58,675,617,431.27, an increase of 21.71% from CNY 48,207,818,237.77 at the end of the previous year[18]. - The total liabilities amounted to CNY 25.67 billion, up from CNY 18.84 billion, indicating a rise of 36.5%[172]. - The company's equity totaled CNY 33.00 billion, compared to CNY 29.37 billion, reflecting a growth of 12.0%[172]. - The company's long-term borrowings increased significantly to CNY 10.23 billion from CNY 4.02 billion, a growth of 154.7%[171]. - The total liabilities at the end of the period were 25,754 million, indicating a slight increase from the previous period[200]. Cash Flow - The cash inflow from financing activities totaled CNY 4,647,820,000.00, up from CNY 1,750,000,000.00 in the previous period, indicating a strong increase in financing efforts[193]. - The net cash flow from financing activities in the first half of 2019 was CNY 2.99 billion, compared to a negative cash flow of CNY 334.45 million in the same period of 2018[190]. - The total cash outflow from investment activities in the first half of 2019 was CNY 5.37 billion, compared to CNY 2.36 billion in the same period of 2018, indicating an increase of approximately 127.5%[189]. - The cash and cash equivalents at the end of the first half of 2019 amounted to CNY 1.71 billion, an increase from CNY 1.32 billion at the end of the first half of 2018[190]. Operational Highlights - The company achieved a total installed capacity of 9.75 million kW, with 2.53 million kW added in the first half of the year, including the completion of the overseas acquisition of the Chagaya Hydropower Station in Peru[27]. - The company's revenue reached a historical high, with total power generation of 12.70 billion kWh, an increase of 18.14% year-on-year, primarily driven by the new fire power generation capacity[36]. - The company reported a 65.38% increase in accounts receivable, totaling approximately CNY 2.54 billion, attributed to new energy subsidies and unsettled electricity fees from the Ezhou Power Plant Phase III[29]. - The company’s coal trading business is transitioning from a trading model to a storage and distribution model, with ongoing construction of the Jingzhou coal-water intermodal storage and distribution base[27]. - The company’s natural gas pipeline has expanded to 822 kilometers, with 30 operational receiving and distribution stations, enhancing its gas supply capabilities[27]. Investment and Acquisitions - The company plans to continue expanding its clean energy business and is actively pursuing acquisitions in hydropower and new energy projects[32]. - The company has completed the acquisition of a 40% stake in the Chaglla Hydropower Station project in Peru, with a total investment of 2.56 billion yuan[132]. - The company plans to invest up to 3.123 billion yuan in the construction of a gas-fired combined heat and power project in Yingkou, with a capital contribution of up to 654 million yuan[130]. - The company established Chagaya Holdings to acquire 100% of the shares of Vayaga Power, which is now operational and contributing to net profit[65]. Environmental and Social Responsibility - The average emission concentration of sulfur dioxide for Ezhou Power Plant in the first half of 2019 was 25.7 mg/m³, with total emissions of 467.75 tons[101]. - Hubei Energy's subsidiaries have established self-monitoring plans for emissions, which have been approved by local environmental authorities[102]. - The company allocated 600,000 RMB for the renovation of the Minzu Center Primary School in Yeshanguan Town as part of its targeted poverty alleviation efforts[104]. - The targeted poverty alleviation project in Huangqi Village involved 240,000 RMB to assist 16 impoverished families, with monthly visits and support during traditional festivals[108]. - The company invested a total of 23.34 million yuan in poverty alleviation efforts, helping 1,121 registered impoverished individuals to escape poverty[120]. Legal and Compliance Issues - The company reported a significant lawsuit involving a total claim amount of 706.51 million CNY, which is currently under litigation[78]. - Another ongoing lawsuit involves a claim of 60.54 million CNY against Shanghai Luogang Fuel Co., which is also pending resolution[80]. - The company reported a total of 176.8897 million yuan involved in ongoing litigation cases from previous years[82]. - The company has not engaged in any derivative investments during the reporting period[60]. Shareholder and Governance - The company achieved a participation rate of 74.05% in the first temporary shareholders' meeting of 2019[71]. - The company has appointed a new chairman and a new chief financial officer during the reporting period[149]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[144]. - The total number of common shareholders at the end of the reporting period is 102,492[142].