SLSVC(SH:600123)2014-04-28 16:00Financial Performance - Net profit attributable to shareholders was CNY -51,657,140.52, a significant decrease from CNY 423,720,396.29 in the same period last year[8] - Operating revenue decreased by 37.07% to CNY 1,193,192,900.27 compared to CNY 1,895,996,783.81 in the previous year[8] - Total profit for the period was CNY -78,128,786.16, a significant decline from CNY 542,333,284.22 in the previous year, attributed to decreased sales and prices of coal and urea products, as well as asset impairment provisions related to the fertilizer division's relocation[15] - Net profit for Q1 2014 was a loss of CNY 77,250,107.56, compared to a profit of CNY 390,285,105.36 in Q1 2013, indicating a significant decline[26] - The company's financial expenses decreased by 33.77% to CNY 30,841,421.04, mainly due to reduced interest expenses and increased interest income[15] Revenue and Sales - The company's operating revenue for Q1 2014 was CNY 1,193,192,900.27, a decrease of 37.07% compared to CNY 1,895,996,783.81 in the same period last year, primarily due to lower prices and sales volumes of coal and urea products[15] - Cash inflow from sales of goods and services was ¥1,457,373,937.16, down from ¥1,968,834,193.19, a decrease of about 26%[31] Production and Inventory - Coal production increased by 2.49% to 159.9 million tons, while sales volume decreased by 7.67% to 151.07 million tons[9] - Urea production decreased by 31.85% to 27.77 million tons, with sales volume dropping by 57.19% to 19.11 million tons[9] - Inventory increased by 33.58% to CNY 749,515,257.27, reflecting an increase of 86,500 tons in urea stock compared to the beginning of the year[16] - Inventory levels rose to CNY 405,162,009.41, up from CNY 293,563,704.45, indicating an increase of 38.0%[23] Assets and Liabilities - Total assets increased by 1.22% to CNY 20,733,981,682.86 compared to the end of the previous year[8] - The total liabilities increased to CNY 10,285,682,970.94 from CNY 10,004,073,628.35, reflecting a rise in both current and non-current liabilities[20] - The company's total assets as of March 31, 2014, were CNY 16,797,888,871.23, slightly down from CNY 16,812,119,698.93 at the beginning of the year[23] - The company's total liabilities were CNY 5,588,860,713.17, down from CNY 5,651,853,037.38, reflecting a decrease of 1.1%[23] Cash Flow - Cash flow from operating activities dropped by 49.08% to CNY 288,464,217.39 from CNY 566,523,733.10 year-on-year[8] - The company's cash flow from operating activities decreased by 49.08% to CNY 288,464,217.39 from CNY 566,523,733.10, primarily due to declining revenues and increased bill settlements[16] - The cash flow from operating activities totaled ¥1,515,825,979.72, down from ¥2,014,582,092.65, a decline of approximately 25%[31] Shareholder Information - The number of shareholders reached 104,403 at the end of the reporting period[12] - The largest shareholder, Shanxi Lanhua Coal Industry Group Co., Ltd., holds 45.11% of the shares, totaling 515,340,000 shares[12] Impairment and Expenses - Asset impairment losses surged to CNY 251,403,217.76, an increase of 8136.01% from CNY 3,052,489.30, mainly due to the recognition of impairment provisions of CNY 254.17 million for the fertilizer division[15] - Cash outflow for purchasing goods and services was ¥442,610,514.40, down from ¥580,133,322.99, a decrease of about 24%[31] Cash and Equivalents - The company's cash and cash equivalents at the end of the period were CNY 2,702,544,799.48, up from CNY 2,387,759,287.20 at the beginning of the year[19] - Cash inflow from financing activities increased to ¥657,401,313.88 from ¥480,000,000.00, marking an increase of approximately 37%[32] - The ending balance of cash and cash equivalents rose to ¥2,531,273,921.90 from ¥3,285,423,609.69, reflecting a decrease of about 23% year-over-year[32]