COMEC(600685)2014-04-25 16:00Financial Performance - Operating revenue for the first quarter was CNY 1.73 billion, a 20.01% increase year-on-year[8] - The company's operating revenue for the current period is approximately ¥1.56 billion, a significant increase from ¥675.94 million in the previous period, representing a growth of about 131.8%[32] - Total operating revenue for the current period reached CNY 1,732,143,284.30, an increase of 20.06% compared to CNY 1,443,325,949.23 in the previous period[30] - Total operating costs amounted to CNY 1,791,983,178.40, up 15.66% from CNY 1,548,956,180.35 in the previous period[30] - The company incurred operating costs of approximately ¥1.53 billion, which is an increase from ¥599.51 million in the previous period, representing a rise of about 154.5%[32] Profitability - Net profit attributable to shareholders was a loss of CNY 113.93 million, compared to a loss of CNY 15.71 million in the same period last year[8] - The company's net profit attributable to shareholders decreased significantly to -113,930,653.81 RMB, compared to -15,710,930.26 RMB in the previous year[17] - Net loss for the current period was CNY -116,783,305.90, compared to a net loss of CNY -16,837,947.22 in the previous period[30] - The net profit for the current period is a loss of approximately ¥55.25 million, compared to a profit of ¥59.22 million in the previous period, indicating a decline of 193.4%[32] - The company's comprehensive income for the current period is a loss of approximately ¥55.90 million, compared to a gain of ¥41.90 million in the previous period, indicating a decline of 233.4%[32] Assets and Liabilities - Total assets increased by 10.34% to CNY 23.79 billion compared to the end of the previous year[8] - Total assets increased to CNY 14,988,538,519.12 from CNY 12,388,558,012.69, reflecting a growth of 13.00%[27] - Total liabilities rose to CNY 9,289,818,751.19, up from CNY 8,440,056,887.41, indicating an increase of 10.06%[27] - Short-term borrowings rose by 39.89% to 3,833,206,876.94 RMB, indicating an increase in financing activities[22] - The company's total liabilities included a new trading financial liability of 36,991,922.39 RMB due to increased foreign exchange contracts[22] Shareholder Information - The total number of shareholders at the end of the reporting period was 51,132[12] - The top shareholder, HKSCC NOMINEES LIMITED, held 57.00% of the shares, totaling 587,387,780 shares[12] - Basic earnings per share were -CNY 0.1475, compared to -CNY 0.0244 in the previous year[9] - Basic and diluted earnings per share were both CNY -0.1475, a decrease from CNY -0.0244 in the previous period[30] Cash Flow - The company reported a net cash flow from operating activities of -CNY 151.30 million for the first quarter[8] - The company's cash flow from operating activities decreased by 72.03% to -151,296,900.90 RMB compared to the previous year[18] - The cash flow from operating activities shows a net outflow of approximately ¥151.30 million, an improvement from a net outflow of ¥540.88 million in the previous period[35] - The company reported a cash inflow from financing activities of approximately ¥2.20 billion, compared to a net outflow of ¥561.65 million in the previous period, marking a turnaround[35] Investment Activities - The investment cash flow net amount was -827,745,553.49 RMB, a significant increase of 381.65% due to payments for acquiring the equity of Longxue Shipbuilding[18] - The company’s investment activities resulted in a net cash outflow of approximately ¥827.75 million, worsening from a net outflow of ¥171.86 million in the previous period[35] - The company received approximately ¥2.96 million in investment income, a decrease from ¥4.55 million in the previous period, reflecting a decline of about 34.7%[32] Other Financial Metrics - The weighted average return on net assets was -1.41% for the current period[9] - The company reported a fair value loss of CNY -77,783,497.19 during the current period[30] - Other receivables surged by 394.62% to 374,872,074.53 RMB, primarily due to the recognition of receivables from the equity transfer agreement[22] - The capital reserve increased by 54.04% to 3,279,924,070.59 RMB, influenced by the acquisition of Longxue equity[22] - The minority interest increased by 120.09% to 41,074,113.43 RMB, reflecting the acquisition of Guangzhou Longxue Shipbuilding Co., Ltd.[22]