GLCC(SH:600234)2015-04-29 16:00Financial Performance - Revenue for the first quarter was CNY 2,744,890.50, representing a year-on-year increase of 3.66%[7] - Net profit attributable to shareholders was CNY -10,529,205.25, compared to CNY -3,047,319.29 in the same period last year, indicating a significant decline[7] - The net profit for Q1 2015 was -9,342,853.20 RMB, compared to -1,457,639.49 RMB in the same period last year, indicating a significant increase in losses[29] - Total operating revenue for Q1 2015 was CNY 2,744,890.50, an increase from CNY 2,648,003.00 in the previous period, representing a growth of approximately 3.65%[25] - Net profit for Q1 2015 was a loss of CNY 10,649,538.45, compared to a loss of CNY 4,093,463.75 in the previous period, reflecting a deterioration in performance[26] - The total comprehensive income for the period was -9,342,853.20 RMB, consistent with the net profit figure, indicating no other comprehensive income adjustments[29] Cash Flow and Liquidity - The company's net cash flow from operating activities was CNY 669,499.23, recovering from a negative cash flow of CNY -1,700,068.55 in the previous year[7] - Total cash inflow from operating activities was 10,584,498.02 RMB, up from 871,250.32 RMB year-over-year, showing a substantial improvement in cash generation[33] - Cash and cash equivalents at the end of the period totaled 1,309,508.63 RMB, compared to 307,927.12 RMB at the end of the same period last year, reflecting a strong liquidity position[34] - The company reported cash outflows from investing activities of 18,532.48 RMB, which is a decrease from 296,160.00 RMB in the previous year, indicating reduced investment expenditures[36] - Cash outflows from financing activities amounted to 1,250,000.00 RMB, with no inflows reported, suggesting a focus on debt repayment or dividend distribution[34] - The company is currently in a phase of cash conservation, as indicated by the negative cash flow from financing activities and the focus on operational cash generation[34] Assets and Liabilities - Total assets at the end of the reporting period were CNY 460,471,206.86, a decrease of 1.91% compared to the end of the previous year[6] - The company's total liabilities were reported at ¥385,897,589.56, slightly up from ¥384,195,751.44 at the start of the year[20] - The company's total current assets decreased to CNY 6,786,835.11 from CNY 16,817,468.76, a decline of approximately 59.66%[23] - The total non-current assets remained relatively stable at CNY 449,976,083.21, compared to CNY 449,987,766.22 at the beginning of the year[23] - The company's total equity decreased to CNY 95,172,926.70 from CNY 104,515,779.90, a decline of approximately 8.87%[24] Shareholder Information - The total number of shareholders as of the reporting date was 33,972[8] - The largest shareholder, Huang Guozhong, held 20,000,000 shares, accounting for 9.88% of the total shares, which are pledged and frozen[8] - The second-largest shareholder, Beijing Liuhe Fengchun Cultural Industry Investment Co., Ltd., held 18,107,160 shares, representing 8.94% of the total shares, also pledged[8] Management and Expenses - Management expenses increased by 191.47% to ¥9,504,120.61 in Q1 2015, compared to ¥3,260,772.41 in the same period last year[11] - The company reported a significant increase in management expenses to CNY 9,504,120.61 from CNY 3,260,772.41, an increase of approximately 191.36%[26] Future Outlook - The company has not provided any guidance or outlook for future performance in this report[4] - The company has not yet signed the termination agreement for the major asset restructuring, which remains pending approval from the board and shareholders[12] - The company terminated its major asset restructuring plan to acquire 100% equity of Chengdu Zhangwo Unlimited, as well as the non-public issuance of shares to raise ¥4.03 billion for acquiring 100% equity of Guangzhou Chuangsi[11] - The company’s first major shareholder, Huang Guozhong, committed to cover a pending amount of ¥4 million owed to Shanghai Zhaoyu Asset Management by May 13, 2015, if not received by the company[15]