创兴资源(600193) - 2015 Q1 - 季度财报

Financial Performance - Operating revenue dropped to CNY 0, a 100% decrease compared to CNY 19,328,619.60 in the same period last year[5] - Net profit attributable to shareholders was CNY -6,203,639.26, compared to CNY -4,475,251.03 in the previous year[5] - The net profit for Q1 2015 was -6,203,639.26 RMB, compared to -4,475,251.03 RMB in the previous period, indicating a decline in profitability[28] - Operating profit for Q1 2015 was -5,227,027.13 RMB, slightly improved from -5,528,114.92 RMB in the previous period[28] - The total comprehensive income for Q1 2015 was -6,203,639.26 RMB, reflecting a decline from -4,475,251.03 RMB in the previous period[28] - The company reported a basic earnings per share of -0.01 RMB for Q1 2015, consistent with the previous period[31] Cash Flow and Liquidity - Cash flow from operating activities showed a net outflow of CNY -26,609,546.65, a decrease of 235.83% compared to the previous year[5] - The net cash flow from operating activities was -26,609,546.65 in Q1 2015, a decline of 235.83% from 19,589,852.77 in Q1 2014, mainly due to increased tax payments.[15] - The net cash flow from operating activities for Q1 2015 was -158,637,450.86 RMB, a significant decrease compared to 15,776,805.06 RMB in the same period last year[34] - Total cash inflow from operating activities was 2,723,971.71 RMB, while total cash outflow was 161,361,422.57 RMB, resulting in a negative cash flow[34] - The company experienced a significant decline in cash flow, indicating potential liquidity issues moving forward[34] - The beginning cash balance for Q1 2015 was 159,244,383.90 RMB, highlighting a drastic reduction in cash reserves[34] - The company needs to address the negative cash flow situation to ensure operational sustainability in the future[34] Assets and Liabilities - Total assets decreased by 20.76% to CNY 657,029,271.57 compared to the end of the previous year[5] - Total liabilities reached CNY 327,684,669.09, while total equity was CNY 329,344,602.48[21] - Current liabilities totaled CNY 163,184,669.09, compared to CNY 329,064,450.30 at the beginning of the year[20] - Non-current liabilities remained stable at CNY 164,500,000.00[21] - The company's cash and cash equivalents decreased by 98.89% to CNY 1,785,452.89 due to tax payments and loan repayments[12] - Accounts receivable decreased by 33.52% to CNY 5,051,555.74, primarily due to reduced sales on credit[12] - Prepaid expenses increased by 153.44% to CNY 2,243,539.01, mainly due to payments made by subsidiaries[12] Shareholder Information - The number of shareholders reached 38,852, with the top ten shareholders holding a combined 47.86% of shares[9] - Xiamen Baihui Investment Co., Ltd. held 14.70% of shares, with 40,600,000 shares pledged[9] Operational Challenges - The company's operating revenue for Q1 2015 was 0, a decrease of 100% compared to 19,328,619.60 in Q1 2014, primarily due to the suspension of operations at its wholly-owned subsidiary, Hunan Shenlong Mining Co., Ltd.[14] - Operating costs also dropped to 0 in Q1 2015, reflecting a 100% decrease from 18,369,846.09 in Q1 2014, attributed to the same suspension of operations.[14] - Hunan Shenlong Mining Co., Ltd. has not established a plan for resuming production, as iron ore prices continue to decline, affecting operational decisions.[16] - The company plans to suspend further significant investments in Hunan Shenlong Mining Co., Ltd. due to the ongoing low iron ore prices and the impact on operational viability.[17] - The company’s management is considering restructuring or selling Hunan Shenlong Mining Co., Ltd. to safeguard financial stability if low iron ore prices persist.[17] Regulatory Issues - The company is currently undergoing an investigation by the China Securities Regulatory Commission for potential violations of securities laws, with uncertain future implications for its stock listing.[17]