Xingfa Chem(SH:600141)2016-04-27 16:00Financial Performance - Operating revenue for the period reached CNY 3.01 billion, reflecting a growth of 5.58% year-on-year[7] - Net profit attributable to shareholders decreased by 54.58% to CNY 7.75 million compared to the same period last year[7] - Basic earnings per share fell by 34.43% to CNY 0.028[7] - The company reported non-recurring gains of CNY 7.33 million during the period[10] - The weighted average return on net assets decreased by 0.14 percentage points to 0.31%[7] - Total operating revenue for Q1 2016 was CNY 3,014,220,879.87, an increase of 5.3% compared to CNY 2,854,943,933.55 in the same period last year[28] - Net profit for Q1 2016 was CNY 26,151,745.49, a decrease of 30.6% from CNY 37,705,644.10 in Q1 2015[31] - The net profit attributable to shareholders of the parent company was CNY 15,079,372.51, down 32.0% from CNY 22,185,692.93 in the previous year[31] - Earnings per share for Q1 2016 were CNY 0.028, compared to CNY 0.043 in Q1 2015, representing a decline of 34.9%[31] Assets and Liabilities - Total assets increased by 6.04% to CNY 22.66 billion compared to the end of the previous year[7] - Total assets amounted to CNY 13,866,998,228.80, an increase from CNY 13,315,483,491.25 year-over-year[28] - Total liabilities reached CNY 16,598,088,653.34, compared to CNY 15,330,337,312.59, marking an increase of approximately 8.26%[24] - Current liabilities amounted to ¥10,512,353,723.09, an increase of 6.02% from ¥9,915,240,834.02[24] - Long-term borrowings increased to ¥2,920,600,205.50 from ¥2,289,605,190.66, reflecting a growth of about 27.55%[24] Cash Flow - Cash flow from operating activities declined by 20.56% to CNY 202.35 million compared to the previous year[7] - Cash flow from financing activities increased by 252.63% to ¥186,300,970.52, primarily due to increased borrowings[15] - Cash and cash equivalents increased to ¥1,302,047,214.81 as of March 31, 2016, up from ¥1,194,370,523.59 at the beginning of the year, representing an increase of approximately 9.05%[22] - Cash flow from operating activities for Q1 2016 was CNY 202,347,291.32, a decrease of 20.5% from CNY 254,725,437.60 in the same period last year[35] - Cash received from borrowing was CNY 2,038,989,310.77, down from CNY 2,439,807,884.08 in the previous year[36] Shareholder Information - The number of shareholders at the end of the reporting period was 35,327[11] - The largest shareholder, Yichang Xingfa Group Co., Ltd., holds 23.41% of the shares, with 124,060,907 shares pledged[11] Investment and Commitments - Investment income turned positive at ¥7,521,703.77, a significant improvement from a loss of ¥1,956,894.84, driven by profits from joint ventures[14] - The company committed to avoiding competition with its major shareholder, ensuring no direct or indirect engagement in similar businesses[16] - The company will avoid or reduce significant related transactions with Xingfa Group and its subsidiaries[18] - The company has established a commitment to adhere to fair and open market principles in related party transactions[19] Other Financial Metrics - Accounts receivable increased by 127.52% to ¥1,253,680,081.05 due to expanded sales and extended payment terms[13] - Prepayments rose by 286.44% to ¥410,609,266.98 primarily from increased advance payments for fertilizers and yellow phosphorus trade[13] - Asset impairment losses increased by 123.70% to ¥40,675,418.79 mainly due to increased bad debt provisions from higher accounts receivable[14] - Inventory decreased to ¥1,093,771,866.97 from ¥1,182,549,860.62, indicating a decline of about 7.52%[23] - Other receivables increased significantly to ¥3,333,609,679.63 from ¥2,873,481,068.54, marking a growth of approximately 15.98%[26]