MINLIST(SH:600058)2014-04-29 16:00Financial Performance - Operating revenue for the first quarter reached CNY 36.35 billion, a 14.49% increase year-on-year[11] - Net profit attributable to shareholders decreased by 58.92% to CNY 44.22 million compared to the same period last year[11] - The basic earnings per share decreased by 58.86% to CNY 0.0413[11] - The company reported a net profit of -74,978,726.09 RMB for the current period, compared to a net profit of 70,829,955.17 RMB in the previous period, indicating a significant decline[32] - Operating revenue for the current period was 94,362.00 RMB, while the previous period reported 252,255.80 RMB, showing a decrease[35] - The total profit for the current period was -161,804,763.02 RMB, compared to 94,331,168.68 RMB in the previous period, reflecting a substantial loss[32] - The company’s total comprehensive income for the current period was -76,043,726.09 RMB, compared to 69,322,455.17 RMB in the previous period, highlighting a significant downturn[32] Cash Flow - The net cash flow from operating activities was negative at CNY -3.38 billion, compared to CNY -999.99 million in the previous year[11] - Net cash flow from operating activities showed a net outflow of CNY 337,862.00 thousand, reflecting increased procurement and inventory[16] - The company experienced a net cash outflow from operating activities of -3,378,620,025.28 RMB, compared to -999,989,712.34 RMB in the previous period, indicating worsening cash flow[39] - Cash flow from investment activities showed a net inflow of $366,314,690.00, indicating strong investment performance[42] - The company reported a total cash outflow from investment activities of $136,175,070.09, reflecting significant investment commitments[42] - Cash flow from financing activities showed a net outflow of $30,682,473.98, highlighting the company's focus on debt management[42] Assets and Liabilities - Total assets increased by 17.77% to CNY 54.38 billion compared to the end of the previous year[11] - Non-current assets totaled ¥14,086,795,248.01, slightly down from ¥14,272,967,120.07, reflecting a decrease of approximately 1.3%[24] - Current liabilities rose to ¥40,683,110,364.38, compared to ¥32,343,229,453.90, which is an increase of approximately 25.9%[24] - Total liabilities reached ¥43,732,459,864.05, up from ¥35,362,780,966.18, indicating a growth of about 23.3%[25] - Shareholders' equity decreased to ¥10,646,445,088.20 from ¥10,809,962,921.38, reflecting a decline of approximately 1.5%[25] Shareholder Information - The number of shareholders reached 117,488 at the end of the reporting period[13] - China Minmetals Corporation holds 62.56% of the shares, totaling 670,604,922 shares[13] Expenses and Financial Management - Total operating costs amounted to ¥36,747,680,641.30, up from ¥31,671,534,437.89, indicating an increase of about 15.9%[31] - Financial expenses surged by 188.19% to CNY 32,348.43 thousand due to increased interest expenses and significant foreign exchange losses[16] - The company’s financial expenses increased to 323,484,325.17 RMB in the current period from 112,246,422.80 RMB in the previous period, indicating rising costs[32] - The company reported a significant increase in sales expenses, totaling 143,957,488.78 RMB in the current period compared to 150,902,701.28 RMB in the previous period[32] Investment Activities - Non-current asset disposal gains amounted to CNY 216.78 million from the disposal of shares in Beijing Shangri-La Hotel[12] - Investment income soared by 73,907.05% to CNY 21,728.47 thousand from the disposal of subsidiary equity[16] - Investment income for the current period was 217,284,665.15 RMB, a decrease from 293,574.62 RMB in the previous period[32] Company Strategy and Outlook - The company is actively progressing with a major asset restructuring plan, with no issues reported that could terminate the restructuring[18] - The company has resolved competition issues with domestic subsidiaries and aims to address competition with overseas subsidiaries by the end of 2014[20] - The company is positioned for future growth with a solid cash reserve, enabling potential market expansion and new product development[42]