RNM(SH:600259)2016-04-29 16:00Financial Performance - Net profit attributable to shareholders decreased significantly by 2,530.97% to a loss of CNY 65,544,711.95 from a profit of CNY 2,696,238.03 in the same period last year[6] - Operating revenue fell by 34.02% to CNY 512,453,422.40 compared to CNY 776,713,230.32 in the previous year[6] - The weighted average return on net assets dropped by 13.49 percentage points to -13.16%[6] - Basic and diluted earnings per share were both -CNY 0.25, a decrease of 2,600% compared to CNY 0.01 in the previous year[6] - Net profit (loss) for the period was a loss of ¥74,326,371.33 compared to a profit of ¥4,095,824.84 in the previous period, reflecting a significant decline in product prices[14] - The company reported an operating loss of ¥89,707,468.92, a decrease of 1,272.51% compared to the previous profit of ¥7,650,879.90[13] - Net loss for Q1 2016 was CNY 74,326,371.33, compared to a net profit of CNY 4,095,824.84 in Q1 2015[35] - The company's total equity decreased to CNY 298,005,115.73 from CNY 325,062,799.29, showing a decline of 8.3%[32] - The company reported a total comprehensive income of CNY -27,057,683.56 for Q1 2016, compared to CNY -22,108,036.28 in the same period last year[39] Cash Flow and Liquidity - The net cash flow from operating activities improved to -CNY 61,495,924.84 from -CNY 89,558,062.81 in the same period last year, indicating a positive trend[6] - Cash and cash equivalents increased by 21.82% to ¥251,482,810.87 from ¥206,432,455.23[13] - The net cash flow from operating activities for Q1 2016 was CNY -61,495,924.84, an improvement from CNY -89,558,062.81 in Q1 2015[41] - The total cash and cash equivalents at the end of Q1 2016 were CNY 219,370,373.30, compared to CNY 238,607,749.52 at the end of Q1 2015[42] - The net cash flow from financing activities for Q1 2016 was CNY 108,102,879.91, a decrease from CNY 122,426,252.72 in Q1 2015[42] - The cash inflow from operating activities totaled CNY 548,109,079.90 in Q1 2016, down from CNY 570,773,139.91 in the previous year[41] - The cash inflow from other financing activities was 263,476,181.35 RMB, down from 426,865,907.87 RMB, representing a decline of about 38.3%[44] Assets and Liabilities - Total assets increased by 3.87% to CNY 3,405,873,121.45 compared to the end of the previous year[6] - Current liabilities totaled CNY 2,106,909,445.00, up from CNY 2,001,289,392.26, indicating an increase of approximately 5.3%[27] - Long-term borrowings increased by 62.09% to ¥261,050,000.00 from ¥161,050,000.00, indicating increased financing activities[13] - Total liabilities reached CNY 1,642,881,459.23, compared to CNY 1,572,345,847.69 at the start of the year, indicating a rise in liabilities[32] - Long-term borrowings increased significantly to CNY 221,050,000.00 from CNY 121,050,000.00, marking an increase of 82.7%[32] Shareholder Information - The total number of shareholders reached 28,866 by the end of the reporting period[10] - The largest shareholder, Guangdong Guangsheng Asset Management Co., Ltd., holds 44.31% of the shares, totaling 116,136,793 shares[10] Government Support and Subsidies - The company received government subsidies amounting to CNY 7,719,291.53, which are closely related to its normal business operations[7] Operational Challenges and Future Plans - The company anticipates a cumulative net profit loss for the year up to the next reporting period, with further details to be disclosed in the 2016 semi-annual report[22] - The company is progressing with a non-public stock issuance plan, which has been approved by relevant authorities[15][16] - The company plans to address obstacles related to the acquisition of a 60% stake in Pearl River Mining Company within three years[18] - The company has committed to resolving substantial obstacles related to the acquisition of a 35% stake in Guangsheng Jianfa within three years[20] - The company will cease all business dealings with Guangsheng Nonferrous in rare earth product trading starting in 2017, with a transition period in 2016[19] - The company has pledged to ensure compliance with state-owned asset management regulations to facilitate the approval processes for its commitments[21]