2016-04-29 16:00Financial Performance - Operating revenue for Q1 2016 was CNY 7.60 billion, a decrease of 23.49% from CNY 9.93 billion in Q1 2015[8]. - Net profit attributable to shareholders of the parent company fell by 57.00% to CNY 1.64 billion, down from CNY 3.82 billion in the same period last year[8]. - Basic earnings per share decreased by 60.00% to CNY 0.14 per share, compared to CNY 0.35 per share in Q1 2015[8]. - Net profit for Q1 2016 was CNY 1.79 billion, down 54.5% from CNY 3.94 billion in Q1 2015[31]. - The company reported a total profit of CNY 2.41 billion, down 53.6% from CNY 5.20 billion in the same period last year[31]. - Other comprehensive income after tax was a loss of CNY 1.75 billion, compared to a gain of CNY 1.12 billion in the previous year[31]. - Comprehensive income totalled CNY 43 million, a drastic decline from CNY 5.06 billion in Q1 2015[31]. Cash Flow - The net cash flow from operating activities was negative at CNY -14.50 billion, compared to a positive CNY 19.86 billion in the same period last year[8]. - The net cash flow from operating activities for Q1 2016 was -14.5 billion RMB, a significant decrease compared to 19.86 billion RMB in Q1 2015, reflecting a decline of approximately 173%[35]. - The total cash inflow from investment activities was 1.67 billion RMB, while the cash outflow was 13.69 billion RMB, resulting in a net cash flow from investment activities of -12.01 billion RMB, compared to -1.99 billion RMB in the same period last year[35]. - The net cash flow from financing activities was -5.08 billion RMB, a decrease from 16.40 billion RMB in Q1 2015, indicating a decline of approximately 131%[36]. - The cash outflow for operating activities totaled 6.19 billion RMB, significantly lower than 25.89 billion RMB in Q1 2015, indicating a decrease of about 76%[35]. - The cash inflow from bond issuance was 3.86 billion RMB, a sharp decline from 26.15 billion RMB in Q1 2015, reflecting a decrease of approximately 85%[36]. - The company’s cash outflow for paying debts was 8.43 billion RMB, down from 16.31 billion RMB in the same period last year, indicating a reduction of about 48%[36]. Assets and Liabilities - Total assets decreased by 5.12% to CNY 584.58 billion as of March 31, 2016, compared to CNY 616.11 billion at the end of 2015[8]. - The company's cash and cash equivalents decreased to ¥150.20 billion from ¥179.32 billion, a reduction of about 16.24%[23]. - Total liabilities decreased to ¥442.76 billion from ¥474.37 billion, reflecting a decline of approximately 6.68%[24]. - The total equity attributable to shareholders was ¥139.05 billion, slightly down from ¥139.14 billion, indicating a decrease of about 0.06%[24]. - The company's receivables increased significantly to ¥22.64 billion from ¥13.94 billion, marking an increase of approximately 62.00%[23]. - The company's long-term borrowings decreased by 45.81% to RMB 1.58 billion as of March 31, 2016, from RMB 2.91 billion at the end of 2015, reflecting a reduction in borrowing scale[16]. - The total liabilities of the parent company were reported at ¥332.25 billion, down from ¥367.92 billion, a decrease of approximately 9.69%[28]. - The company's total equity decreased to ¥115.86 billion from ¥116.21 billion, a decline of approximately 0.30%[28]. Income and Expenses - The company reported non-operating income of CNY 11.48 million for the quarter[10]. - Net interest income for Q1 2016 decreased by 32.39% to RMB 322.40 million from RMB 476.84 million in Q1 2015, mainly due to a reduction in repurchase interest income[17]. - Investment income dropped by 65.21% to RMB 1.49 billion in Q1 2016 from RMB 4.28 billion in Q1 2015, attributed to decreased investment returns from financial instruments[17]. - Total operating expenses increased to CNY 5.20 billion, up 9.9% from CNY 4.74 billion in Q1 2015[31]. - The company experienced a 50.53% decrease in income tax expenses, amounting to RMB 622.24 million in Q1 2016, down from RMB 1.26 billion in Q1 2015, due to reduced taxable profits[17]. - The company reported a significant increase in asset impairment losses, which rose by 752.14% to RMB 472.08 million in Q1 2016, compared to RMB 55.40 million in Q1 2015[17]. - The company experienced a significant increase in asset impairment losses, which rose to CNY 472 million from CNY 55 million year-on-year[31]. Shareholder Information - The total number of shareholders as of March 31, 2016, was 612,510, with 612,348 being A-share shareholders[12]. - The largest shareholder, Hong Kong Central Clearing Limited, held 18.80% of the shares, totaling 2,277,452,718 shares[11]. - The second-largest shareholder, China CITIC Limited, held 16.50% of the shares, totaling 1,999,695,746 shares[11]. Other Business Activities - The company established a joint venture in April 2016 for the Xinjiang Silk Road Aluminum Trading Center, with an investment of RMB 18 million and a 60% ownership stake[22]. - The company issued two short-term financing bonds in 2016, raising a total of RMB 8 billion, with an outstanding balance of RMB 5 billion[18]. - Other business income surged by 803.58% to RMB 743.17 million in Q1 2016, compared to RMB 82.25 million in Q1 2015, driven by increased sales from subsidiaries[17].