CRE(SH:600217)2014-04-18 16:00Financial Performance - Net profit attributable to shareholders was CNY -77,019,387.43, a significant decline from CNY -39,026,444.04 in the same period last year[9] - Operating revenue for the first quarter was CNY 125,097,963.13, down 4.94% year-on-year[9] - Basic earnings per share were CNY -0.1166, compared to CNY -0.0590 in the same period last year[9] - The company reported a weighted average return on net assets of -3,878.77%[9] - The net asset attributable to shareholders was CNY -36,524,030.30, a decrease of 190.19% compared to the previous year[9] - The company anticipates a reduction in losses for the second quarter, with an overall forecast of continued losses for the first half of the year[19] - Net profit for the current period is -¥77,039,279.50, compared to -¥39,079,676.42 in the previous period, indicating a significant increase in losses[31] - Basic and diluted earnings per share are both -0.1166, worsening from -0.0590 in the previous period[32] Assets and Liabilities - Total assets decreased by 2.95% to CNY 2,166,337,972.26 compared to the end of the previous year[9] - The company’s total liabilities amounted to CNY 2,205,954.44 million, with a slight increase compared to the previous period[24] - Total assets decreased to ¥2,173,928,378.61 from ¥2,238,703,009.11, reflecting a decline of approximately 2.9%[28] - Total liabilities increased slightly to ¥2,202,647,819.48 from ¥2,190,853,787.58, marking a rise of about 0.5%[28] - The company's total equity has turned negative, standing at -¥28,719,440.87, down from ¥47,849,221.53 in the previous period[28] Cash Flow - Cash flow from operating activities increased by 1,192.92% to CNY 39,621,146.39 compared to CNY 3,064,470.83 in the same period last year[9] - The net cash flow from operating activities significantly increased by CNY 3,655.66 million, attributed to higher cash received from sales[17] - Cash and cash equivalents increased by 56.48% to CNY 4,610.24 million, reflecting improved cash recovery from sales[17] - Cash inflows from operating activities amounted to ¥129,689,061.54, an increase from ¥109,373,930.61 in the previous period[35] - Operating cash inflow for the current period was CNY 129,688,845.36, an increase of 18.6% compared to CNY 109,373,930.61 in the previous period[39] - Net cash flow from operating activities was CNY 39,679,220.51, significantly higher than CNY 3,065,726.83 in the previous period[39] - The net increase in cash and cash equivalents was CNY 14,478,097.20, contrasting with a decrease of CNY 22,564,274.81 in the previous period[41] - The ending balance of cash and cash equivalents reached CNY 37,092,762.88, up from CNY 15,961,926.21 in the previous period[41] Shareholder Information - The total number of shareholders was 67,791 at the end of the reporting period[13] - The largest shareholder, Tangshan Jidong Cement Co., Ltd., held 28.05% of the shares, totaling 185,380,000 shares[13] Operational Costs and Expenses - The company’s financial expenses increased by 51.12% to CNY 2,578.97 million, due to increased loan amounts and capitalized interest[16] - The management expenses rose by 47.07% to CNY 3,423.56 million, mainly due to seasonal maintenance and repair costs[16] - Total operating costs increased to ¥189,018,762.25, up 8.4% from ¥174,298,622.53 in the previous period[31] - Cash paid to employees decreased to CNY 21,981,606.41 from CNY 44,145,735.22, reflecting a significant reduction in labor costs[39] Accounts Receivable and Inventory - The company reported a 372.80% increase in accounts receivable, reaching CNY 5,851.29 million, due to increased turnover with quality customers[17] - Accounts receivable totaled ¥58,236,262.62, compared to ¥12,099,234.79 in the previous period, indicating a significant increase[27] - Inventory levels remained stable at approximately ¥122,135,817.44, slightly down from ¥122,231,671.46 in the previous period[27] Investment Activities - Cash outflow from investing activities totaled CNY 5,237,248.31, up from CNY 3,216,541.03 in the previous period, indicating increased investment efforts[40] - The company is undergoing a major asset restructuring, with plans to acquire assets from China Recycled Resources Development Co., Ltd.[18]