深南电B(200037) - 2019 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 408,124,616.38, a decrease of 62.20% compared to CNY 1,079,760,214.80 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was a loss of CNY 25,283,190.82, representing a decline of 184.24% from a profit of CNY 30,012,095.22 in the previous year[18]. - The basic earnings per share for the reporting period was -CNY 0.04, a decrease of 180.00% from CNY 0.05 in the same period last year[18]. - The diluted earnings per share also stood at -CNY 0.04, reflecting the same decline of 180.00% compared to CNY 0.05 in the previous year[18]. - The company reported a net profit attributable to the parent company of RMB -2.53 million, with a basic earnings per share of RMB -0.04[34]. - The company reported a net loss of approximately 15 million USD for the first half of 2019, with total revenue of 578 million USD, reflecting a significant decline in operational performance[51]. - The total comprehensive income for the first half of 2019 was a loss of CNY 14,246,797.24, compared to a gain of CNY 16,456,446.41 in the same period of 2018, indicating a significant decline in profitability[133]. Cash Flow and Financial Position - The net cash flow from operating activities increased by 6.90% to CNY 56,217,376.89, compared to CNY 52,590,634.28 in the same period last year[18]. - Cash and cash equivalents increased to ¥1,033,453,294.31, representing 30.27% of total assets, up from 23.74% in the previous year, a 6.53% increase due to increased bank loans[42]. - The company’s cash flow from operating activities increased by 6.90% to RMB 56.22 million, mainly due to an increase in cash received related to operations[36]. - The company raised CNY 730 million through borrowings in the first half of 2019, compared to CNY 910 million in the same period of 2018[122]. - The company's total assets at the end of the reporting period were CNY 3,414,007,712.04, an increase of 3.23% from CNY 3,307,148,289.92 at the end of the previous year[18]. - The company's total equity decreased to RMB 1,920,968,586.70 as of June 30, 2019, from RMB 1,935,215,383.94 at the end of 2018[113]. Operational Metrics - The actual on-grid electricity volume completed by the company's power plants was 420 million kWh, a year-on-year decrease of 73.58%, while the contracted electricity volume transferred was 740 million kWh, an increase of 53.21%[26]. - The company’s energy sector revenue decreased by 66.22% year-on-year, with a gross margin of only 1.41%[38]. - The company reported a significant decrease in cash received from sales, totaling CNY 428.90 million, down 60.9% from CNY 1.09 billion in the first half of 2018[122]. - The company transitioned to a market-oriented electricity production model in 2019, with all three power plants now participating in electricity market trading, which has increased operational challenges[54]. Strategic Initiatives - The company is actively expanding its business by engaging in technical consulting and services for gas-fired power plants and exploring related environmental services[27]. - The company is focusing on market-oriented strategies to mitigate losses and enhance profitability amid rising natural gas prices and declining on-grid electricity prices[33]. - The company has implemented a "1+5" strategic roadmap to guide its operations and decision-making processes[33]. - The company plans to enhance its fuel procurement strategies to mitigate rising costs and ensure stable supply, focusing on establishing better communication with natural gas suppliers[55]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[6]. - The major shareholder, Sheneng Group, transferred 75% of its shares to Yuanzhi Investment, resulting in Yuanzhi Investment becoming the controlling shareholder while Sheneng Group remains the largest shareholder[84]. - The company’s total share capital remains at 602,762,596 shares, with 99.9977% being unrestricted shares[89]. - The total equity attributable to shareholders of the parent company decreased to CNY 1.95 billion by the end of June 2019, down from CNY 2.04 billion at the end of 2018[129]. Environmental and Regulatory Compliance - The company reported a total nitrogen oxide emission of 149.49 tons from its Nanshan Thermal Power Plant, with a discharge concentration of less than 15 mg/m³, adhering to the "Shenzhen Blue" emission standards[82]. - The company received a total of 23,361,160 CNY and 14,736,113 CNY in special subsidy funds for air quality improvement under the "Shenzhen Blue" project, completing the funding for the project[85]. - The company has established and is operating pollution prevention facilities that are functioning normally, with all pollutant emissions meeting standards[83]. - The company has submitted an environmental self-monitoring plan that has been approved by environmental protection authorities and is publicly disclosing monitoring data[83]. Financial Reporting and Governance - The financial report for the first half of 2019 was not audited[104]. - The financial statements were approved by the board of directors on August 14, 2019, ensuring compliance with regulatory requirements[139]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring transparency and accuracy in financial reporting[140]. - The board of directors and supervisory board experienced changes with several new appointments on June 3, 2019[99].