Interim Report 2016
Total Page:16
File Type:pdf, Size:1020Kb
INTERIM REPORT 2016 INTERIM REPORT 2016 NORTHEAST ELECTRIC DEVELOPMENT CO., LTD. NORTHEAST ELECTRIC DEVELOPMENT CO., LTD. 1 INTERIM REPORT 2016 CONTENTS Chapter 1 IMPORTANT NOTICE .................................................................................... 2 Chapter 2 CORPORATE PROFILE ................................................................................. 3 Chapter 3 PRINCIPAL ACCOUNTING DATA AND CHANGES IN SHAREHOLDERS .......................................................................................... 4 Chapter 4 PROFILES OF DIRECTORS, SUPERVISORS AND SENIOR MANAGEMENT .............................................................................................. 7 Chapter 5 MANAGEMENT DISCUSSION AND ANALYSIS ............................................ 8 Chapter 6 SIGNIFICANT EVENTS ................................................................................ 17 Chapter 7 FINANCIAL REPORTS (PREPARED UNDER THE PRC GAAP) ................ 24 Chapter 8 LIST OF DOCUMENTS AVAILABLE FOR INSPECTION .......................... 131 NORTHEAST ELECTRIC DEVELOPMENT CO., LTD. NORTHEAST ELECTRIC DEVELOPMENT CO., LTD. 1 INTERIM REPORT 2016 Chapter 1 IMPORTANT NOTICE The Board of Directors, Supervisory Committee, Directors, Supervisors and senior management of the Company hereby confirm that there are no false representations, misleading statements or material omissions contained in this report, and they, severally and jointly, accept full responsibility for the truthfulness, accuracy and completeness of the contents of this report. Mr. Su Jianghua, Chairman of the Company, Mr. Feng Xiaoyu, Chief financial officer, and Mr. Qian Kouming, Chief accounting officer, hereby state to guarantee the truthfulness and completeness of the financial report of the Interim Report. This report is considered and approved by the fifth meeting of the eighth Board of Directors held on 18 August 2016. This report has been reviewed and confirmed by the Audit Committee of the Board of the Company. The financial report for the six months ended 30 June 2016 of the Company and its subsidiaries (the “Group”) prepared according to China's Accounting Standards for Business Enterprises has not been audited. Interim Dividend: The Company proposes not to distribute cash dividend, issue bonus share, or capitalise from capital reserves. This report is published in both Chinese and English. If there are any inconsistencies in content, the Chinese version shall prevail in all aspects. Unless otherwise provided, Renminbi is the only monetary unit in this report. The Report is made pursuant to the Rule 13.48 and the Appendix 16 in the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Ltd. NORTHEAST ELECTRIC DEVELOPMENT CO., LTD. NORTHEAST ELECTRIC DEVELOPMENT CO., LTD. 2 INTERIM REPORT 2016 Chapter 2 CORPORATE PROFILE 2.1 Basic information Abbreviated name of A Shares Northeast Electric A Shares stock code 000585 Place of listing of the A Shares Shenzhen Stock Exchange Abbreviated name of H Shares Northeast Electric H Shares stock code 0042 Place of listing of the H Shares The Stock Exchange of Hong Kong Limited Legal Chinese name 東北電氣發展股份有限公司 Chinese abbreviation 東北電氣 Legal English name Northeast Electric Development Co., Ltd English abbreviation NEE Legal Representative Su Jianghua 2.2 Contact person and address Secretary to the Board of Directors Representative for securities affairs Name Su Weiguo Zhu Xinguang No. 1, Xintai Road, Bayuquan District, No. 1, Xintai Road, Bayuquan District, Yingkou City, Liaoning Province, the PRC Yingkou City, Liaoning Province, the PRC Contact address (Postcode: 115009) (Postcode: 115009) Tel 0417-6897566 0417-6897567 Fax 0417-6897565 0417-6897565 Email [email protected] [email protected] NORTHEAST ELECTRIC DEVELOPMENT CO., LTD. NORTHEAST ELECTRIC DEVELOPMENT CO., LTD. 3 INTERIM REPORT 2016 Chapter 3 PRINCIPAL ACCOUNTING DATA AND CHANGES IN SHAREHOLDERS 3.1 Principal accounting data and financial indicators Did the Company make retrospective adjustment to or restatement of the accounting data of prior years due to changes in accounting policies and correction of accounting errors? □ Yes √ No Increase/decrease in the The reporting The same reporting period compared with period period last year the same period of last year Operating incomes (RMB) 34,502,030.11 65,447,827.32 -47.28% Net profits attributable to shareholders of listed company (RMB) -13,159,973.93 -1,561,312.67 -742.88% Net profits attributable to shareholders of listed company after extraordinary items (RMB) -13,366,253.69 -1,607,153.15 -731.67% Net cash flows arising from operating activities (RMB) -31,671,290.07 -28,972,483.81 -9.32% Basic earnings per share (RMB/Share) -0.0151 -0.0018 -738.89% Diluted earnings per share (RMB/Share) -0.0151 -0.0018 -738.89% Weighted average return on net assets -4.60% -0.55% decrease 4.05 percentage Total assets (RMB) 454,728,451.37 483,445,718.25 -5.94% Net assets attributable to shareholders of listed company (RMB) 285,845,351.12 296,987,112.46 -3.75% Description of differences on figures by domestic and foreign accounting standards: No difference in net profits and net assets prepared under PRC GAAP and HKFRS. NORTHEAST ELECTRIC DEVELOPMENT CO., LTD. NORTHEAST ELECTRIC DEVELOPMENT CO., LTD. 4 INTERIM REPORT 2016 3.2 Extraordinary profit and loss items and amounts Unit: RMB Item Amount Remarks Profit and loss on disposal of non-current assets (including the Revenues in disposal of fixed part of provision for asset impairment being written off) -121,921.28 assets Gains/losses from fair value changes of trading financial assets and trading financial liabilities, and investment income from disposal of trading financial assets, trading financial liabilities and available-for-sale financial assets, except effective hedging activities related to the Company’s Principal-guaranteed wealth normal operations 328,972.60 management by banks Other profit and loss items falling within the definition of extraordinary profit and loss -771.56 Overdue payment Total 206,279.76 -- 3.3 Table of shareholdings of the top ten shareholders Total number of shareholders of ordinary shares as at the end of the reporting period: 86,538 Shareholdings of the top ten shareholders Shares pledged or frozen Number of Shareholding Number of untradable Status of Name of shareholders Nature of shareholder percentage shares held shares shares Qty HKSCC Nominees Limited Foreign legal person 29.43% 256,997,999 0 Domestic non-state- Suzhou Tsing Chuang owned legal person 9.33% 81,494,850 Xu Kaidong Domestic natural person 0.92% 8,000,000 Shi Yubo Domestic natural person 0.46% 4,050,400 Donghai Funds-ICBC- Donghai Funds-ICBC- Xinlong No.78 Assets State-owned legal Management Plan person 0.42% 3,669,000 Shenzhen Zhongda Software Development Domestic non-state- Ltd owned legal person 0.41% 3,550,000 3,550,000 Li Jinlong Domestic natural person 0.29% 2,507,284 Hu Li Domestic natural person 0.25% 2,166,760 Pledged 1,539,599 Wei Zifeng Domestic natural person 0.24% 2,100,000 Central Huijin Asset State-owned legal Management Ltd. person 0.24% 2,078,800 NORTHEAST ELECTRIC DEVELOPMENT CO., LTD. NORTHEAST ELECTRIC DEVELOPMENT CO., LTD. 5 INTERIM REPORT 2016 Notes: 1) So far as the Company is aware, there is no connected relationship among the top ten shareholders or are parties acting in concert as provided in “Methods of Information Disclosure of Shareholding Changes of Listed Companies”. Based on the information that is publicly available to the Company as at the latest practicable date prior to the publishing of this report and within the knowledge of the Directors, there was sufficient public float of the Company’s shares. 2) Save as disclosed above, Directors were not aware of any person (not being a Director, or chief executive of the Company) had any interests or short positions in the shares or underlying shares of the Company which were required to be notified to the Company under the provisions of Divisions 2 and 3 of Part XV of the Securities and Futures Ordinance (“SFO”) or which were required to be recorded in the register required to be kept by the Company or short positions in the shares pursuant to Section 336 of the SFO. 3) Purchase, sale or redemption of the Company’s listed securities During the reporting period, neither the Company nor any of its subsidiaries had purchased, sold or redeemed any of the Company’s shares. 4) Pre-emptive rights There is no provision for pre-emptive rights under the laws of the PRC and the Articles of Association of the Company. 5) Convertibles, options, warrants or other similar rights As of 30 June 2016, the Company did not issue any convertible securities, options, warrants or any other similar right. 3.4 Changes in controlling shareholders and De Facto controller: On 21 December 2015, New Northeast Electric Investment Co., Ltd (“New Northeast Electric Investment”), the first majority shareholder, entered into the Agreement on Share Transfer of Northeast Electric Development Co., Ltd (the “Agreement on Share Transfer”) with Suzhou Tsing Chuang Trading Group Co., Ltd. (Suzhou Tsing Chuang), pursuant to which New Northeast Electric Investment transferred 81,494,850 shares of outstanding A shares not subject to trading moratorium (representing 9.331% of the company’s share capital) to Suzhou Tsing Chuang. The register and transfer procedures were finished on 22 January 2016 with Shenzhen Branch of CSDC. The first majority shareholder of the company has been changed to Suzhou Tsing Chuang,