五矿发展(600058) - 2018 Q1 - 季度财报

Financial Performance - Operating revenue decreased by 6.19% to CNY 10.48 billion year-on-year[5] - Net profit attributable to shareholders increased by 144.73% to CNY 22.66 million compared to the same period last year[5] - Basic earnings per share rose by 145.35% to CNY 0.0211 per share[5] - Total operating revenue for Q1 2018 was CNY 10,482,445,714.22, a decrease of 6.2% from CNY 11,175,673,678.41 in the same period last year[26] - Net profit attributable to shareholders of the parent company was CNY 22,660,940.38, up 144.5% from CNY 9,259,723.26 in the previous year[27] - Net profit for Q1 2018 reached CNY 10,521,905.82, a significant recovery from a net loss of CNY 23,047,099.59 in Q1 2017[29] - Total comprehensive income for Q1 2018 was CNY 9,221,905.82, recovering from a total comprehensive loss of CNY 23,067,099.59 in the same quarter last year[30] Assets and Liabilities - Total assets increased by 13.88% to CNY 24.48 billion compared to the end of the previous year[5] - Total assets increased to CNY 24.48 billion, up from CNY 21.50 billion year-on-year[20] - Current liabilities rose to CNY 16.41 billion, an increase from CNY 13.44 billion in the previous year[20] - Total liabilities amounted to CNY 16,780,258,401.83, an increase from CNY 13,811,478,147.10 at the beginning of the year[24] - Current liabilities decreased to CNY 222,503,507.51 from CNY 348,858,366.45 at the beginning of the year, a reduction of 36.2%[25] - Non-current liabilities remained stable at CNY 272,247,325.00, unchanged from the beginning of the year[25] Cash Flow - The net cash flow from operating activities was negative at CNY -2.21 billion, worsening from CNY -1.16 billion in the previous year[5] - Cash flow from operating activities showed a net outflow of CNY 2,208,047,982.74, worsening from a net outflow of CNY 1,161,571,817.56 in Q1 2017[34] - Cash inflow from financing activities was CNY 2,807,879,692.30, up from CNY 1,543,862,027.31 in the previous year, indicating increased borrowing[34] - The company reported a decrease in cash and cash equivalents by CNY 686,814,494.81 during the quarter, compared to a decrease of CNY 1,109,204,029.74 in Q1 2017[34] - The ending cash and cash equivalents balance was $154.67 million, down from $221.17 million in the previous period[37] - The company experienced a net decrease in cash and cash equivalents of -$207.31 million, contrasting with an increase of $38.92 million previously[37] Inventory and Current Assets - Inventory increased by 90.79% to CNY 6.62 billion due to increased stock for downstream construction steel market[12] - Other current assets surged by 214.57% to CNY 312.78 million as a result of increased procurement and inventory scale[12] - Prepayments increased by 67.56% to CNY 4.36 billion, indicating a rise in received payments and deposits[13] - Cash and cash equivalents decreased to CNY 154,667,139.90 from CNY 361,979,908.02, a decline of 57.3%[23] - Inventory and other current assets were not detailed, indicating potential areas for future focus in asset management[24] Shareholder Information - The company had a total of 73,781 shareholders at the end of the reporting period[9] - The largest shareholder, China Minmetals Corporation, held 62.56% of the shares[9] Financial Expenses and Investment - Financial expenses decreased by 89.76% to CNY 9.86 million, attributed to increased foreign exchange gains from RMB appreciation[13] - The company reported a significant reduction in financial expenses, down to CNY 9,864,642.66 from CNY 96,367,001.08, a decrease of 89.7%[27] - Investment income turned negative at CNY -17.56 million, a decline of 105.45% compared to the previous year due to losses from equity accounting[13] - Investment losses were reported at CNY 17,697,276.17, slightly improved from CNY 18,762,137.47 in the previous year[29] Management and Operational Efficiency - The company is focusing on improving operational efficiency and reducing costs, as indicated by the decrease in total operating costs to CNY 10,461,593,623.53 from CNY 11,496,460,379.85[26] - Management expenses increased to CNY 32,627,237.11 from CNY 26,663,891.04, reflecting a rise of 22.3% year-on-year[29] Future Plans - The company plans to publicly transfer idle fixed assets and inventory valued at no less than CNY 21.42 million, which may result in an estimated loss of CNY 40.65 million[15]