ZCE(600121)2019-04-29 16:00Financial Performance - Operating revenue decreased by 10.87% to CNY 1,003,493,125.26 year-on-year[7] - Net profit attributable to shareholders decreased by 84.40% to CNY 6,470,057.65 compared to the same period last year[7] - Basic earnings per share decreased by 84.31% to CNY 0.0064 compared to the same period last year[7] - The company reported a significant decline in net profit and operating revenue, indicating potential challenges in the market[12] - The company anticipates a significant decline in net profit for the year due to adverse geological conditions affecting coal quality and pricing[15] - The net profit attributable to the parent company was ¥6,470,057.65, down 84.4% from ¥41,469,451.47 in the same period last year[30] - The total comprehensive income attributable to the parent company was ¥23,356,307.65, a decline of 36.1% compared to ¥36,553,201.47 in Q1 2018[30] - The company reported a net loss of ¥34,440,131.67 for Q1 2019, contrasting with a net profit of ¥296,695,662.37 in Q1 2018[33] Cash Flow and Liquidity - Net cash flow from operating activities decreased by 60.41% to CNY 26,246,440.55 year-on-year[7] - The company's cash and cash equivalents increased to ¥4,166,458,312.88, a rise of 32.25% from the beginning of the year, primarily due to increased financing during the period[13] - Cash and cash equivalents increased to CNY 3,372,577,810.72 as of March 31, 2019, up from CNY 2,300,739,417.92 at the end of 2018, indicating improved liquidity[24] - Cash inflow from investment activities was 80,000,000.00 RMB in Q1 2019, consistent with 80,602,900.00 RMB in Q1 2018, indicating stability in investment returns[41] - The net cash flow from financing activities was 156,520,288.78 RMB in Q1 2019, a significant improvement from -33,160,853.23 RMB in Q1 2018, marking a turnaround[41] - The company raised 1,375,000,000.00 RMB in loans during Q1 2019, compared to 540,000,000.00 RMB in Q1 2018, indicating a substantial increase of approximately 154%[41] Assets and Liabilities - Total assets increased by 9.89% to CNY 13,995,730,205.98 compared to the end of the previous year[7] - The total assets of the company reached ¥13,995,730,205.98, an increase from ¥12,735,916,699.56 at the end of the previous year[20] - Total liabilities increased to CNY 9,172,747,623.55 from CNY 8,080,754,071.93, reflecting a growth in financial obligations[26] - The company’s retained earnings decreased to CNY 221,536,990.60 from CNY 255,977,122.27, reflecting a reduction in accumulated profits[26] - The company’s total equity increased slightly to CNY 2,782,141,110.90 from CNY 2,779,936,982.26, indicating stability in shareholder equity[26] Shareholder Information - The total number of shareholders reached 49,085 at the end of the reporting period[10] - The largest shareholder, Zhengzhou Coal Industry (Group) Co., Ltd., holds 63.83% of the shares, with 285,000,000 shares pledged[10] Cost Management - Management expenses decreased by 38.73% to ¥84,777,185.74, primarily due to reduced employee compensation[14] - Financial expenses dropped by 33.77% to ¥39,319,257.95, reflecting lower financing costs[14] - The company reported a decrease in management expenses to CNY 84,777,185.74 from CNY 138,357,803.41, suggesting cost control measures[29] - Total operating costs for Q1 2019 were CNY 953,274,471.05, down from CNY 1,000,488,473.33 in Q1 2018, reflecting a cost reduction strategy[28]