Nisco(SH:600282)2016-04-29 16:00Financial Performance - Operating revenue fell by 23.27% to CNY 4,800,932,959.98 year-on-year[6] - Net profit attributable to shareholders decreased by 85.08% to CNY 11,132,805.42 compared to the same period last year[6] - Basic earnings per share decreased by 85.42% to CNY 0.0028[6] - The company reported a significant decline in both net profit and operating revenue, indicating challenges in the current market environment[10] - Operating revenue decreased by 145,561.18 million, a decline of 23.27% year-on-year, primarily due to the drop in average selling prices of steel products[11] - Net profit decreased by 6,395.82 million, a decline of 85.55% year-on-year, primarily due to the decrease in total profit[11] - The net loss for the company in Q1 2016 was CNY 2,457,269,658.01, an improvement from a loss of CNY 2,512,523,632.83 in the previous period[30] - The company's operating revenue for Q1 2016 was approximately ¥4.11 billion, a decrease of 24.7% compared to ¥5.46 billion in the same period last year[33] Cash Flow - Net cash flow from operating activities dropped by 65.26% to CNY 612,235,961.04[6] - Cash flow from operating activities decreased by 114,986.36 million, a decline of 65.26% year-on-year, mainly due to changes in operating receivables and payables[11] - Total cash inflow from operating activities was 9,553,910,822.97 RMB, up from 5,881,603,385.84 RMB year-over-year, representing an increase of approximately 62.5%[39] - Cash outflow from operating activities totaled 11,172,422,841.62 RMB, compared to 5,808,513,218.10 RMB in the previous year, indicating a rise of about 92.5%[39] - Cash inflow from financing activities was 3,698,104,425.38 RMB, compared to 2,300,939,188.89 RMB in the same period last year, marking an increase of approximately 60.8%[40] Assets and Liabilities - Total assets decreased by 3.61% to CNY 35,031,771,601.18 compared to the end of the previous year[6] - The company's current liabilities totaled CNY 23,621,076,418.69, down from CNY 25,176,392,674.89 at the beginning of the year[25] - The company's total liabilities were CNY 24,713,418,664.93, compared to CNY 24,831,341,048.62 at the beginning of the year[30] - The total number of shareholders reached 190,551 at the end of the reporting period[9] - The company's total assets as of March 31, 2016, amounted to CNY 29,147,928,021.22, slightly down from CNY 29,210,785,109.33 at the beginning of the year[30] Shareholder Information - The largest shareholder, Nanjing Nangang Steel Union Co., Ltd., holds 1,795,351,958 shares, accounting for 45.31% of total shares[9] - The commitments made by the controlling shareholders aim to protect the interests of minority shareholders of Nanjing Steel Co., Ltd.[16] Corporate Governance - The controlling shareholder, Nanjing Steel Union, has committed not to engage in any business that competes with Nanjing Steel Co., Ltd. during the control period[16] - The actual controller, Guo Guangchang, has guaranteed that he will not engage in any competing business with Nanjing Steel Co., Ltd. during his control period[16] - Nanjing Steel Union and Guo Guangchang have both committed to ensuring that their subsidiaries do not engage in similar steel production businesses[16] - The commitments regarding avoiding competition are designed to enhance corporate governance and protect shareholder value[17] Investment and Impairment - The company reported an investment income of 1,493.70 million from the recovery of a specific asset management plan[11] - The company recorded an asset impairment loss of 2,070.72 million, an increase of 84.24% year-on-year, due to inventory write-downs[11]