CRE(SH:600217)2016-04-28 16:00Financial Performance - Operating revenue decreased by 38.20% to CNY 224,957,924.14 compared to the same period last year[7] - Net profit attributable to shareholders decreased by 99.17% to CNY 227,879.05 compared to the same period last year[7] - The weighted average return on equity dropped by 99.22 percentage points to 0.03%[7] - Basic and diluted earnings per share fell by 99.51% to CNY 0.0002[7] - The company reported a net loss in retained earnings of CNY -1,037,867,705.60, compared to CNY -1,029,478,102.58, indicating a worsening of 0.8%[40] - Net profit for Q1 2016 was CNY 396,421.34, compared to CNY 28,757,123.36 in the same period last year, indicating a significant decline[43] - Total operating revenue for Q1 2016 was CNY 224,957,924.14, a decrease of 38.2% compared to CNY 363,986,511.60 in the same period last year[41] - Total operating costs for Q1 2016 were CNY 224,585,121.85, a decrease from CNY 334,590,609.24 in the previous year, representing a reduction of approximately 33%[42] Assets and Liabilities - Total assets increased by 6.87% to CNY 2,604,369,978.18 compared to the end of the previous year[7] - Current liabilities rose to CNY 1,294,751,345.35, up from CNY 1,227,571,023.12, indicating an increase of 5.5%[36] - Non-current liabilities increased to CNY 382,047,338.04 from CNY 282,097,338.01, representing a significant rise of 35.4%[36] - The company's total liabilities reached CNY 1,676,798,683.39, compared to CNY 1,509,668,361.13, marking an increase of 11.1%[36] - Owner's equity totaled CNY 927,571,294.79, slightly up from CNY 927,174,873.45, showing a marginal increase of 0.4%[36] - The company has a total of RMB 1,349.77 million in accounts receivable as of March 31, 2016, compared to RMB 1,239.15 million at the beginning of the year, indicating an increase of approximately 8.9%[34] - The total current assets amount to RMB 1,986.65 million, up from RMB 1,813.21 million at the beginning of the year, reflecting a growth of about 9.6%[34] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 171,187,999.77, an improvement from the previous year's outflow of CNY 183,514,182.08[7] - The net cash flow from operating activities improved by 7.2%, with a loss of CNY 17,118.80 million compared to CNY 18,351.42 million in the previous period, due to a significant reduction in cash payments for goods and services[15] - The company reported a net cash outflow from operating activities of CNY -171,187,999.77 for Q1 2016, an improvement from CNY -183,514,182.08 in the previous year[49] - Cash inflow from financing activities was CNY 620,436,594.74 in Q1 2016, up from CNY 434,770,685.60 in the same period last year, reflecting increased borrowing[49] - The cash flow from other financing activities amounted to 340,404,969.15 RMB[52] Shareholder Information - The total number of shareholders reached 38,243 at the end of the reporting period[13] - The largest shareholder, China Recycled Resources Development Co., Ltd., holds 25.35% of the shares, with 240,060,867 shares pledged[13] Government and Regulatory Matters - Government subsidies recognized in the current period amounted to CNY 2,299,369.37[9] - The company received a notice from the China Securities Regulatory Commission (CSRC) regarding the acceptance of its application for the non-public offering of shares, indicating progress in the fundraising process[16] - The company has committed to maintaining its independence and avoiding conflicts of interest with major shareholders, ensuring compliance with relevant regulations[18] Commitments and Agreements - The company has a commitment to ensure that any creditors who have not provided consent for debt transfer will have their claims managed by the seller, ensuring no liabilities are transferred without agreement[27] - The company has a rental agreement for its main production site, with commitments to ensure the property is not transferred without written consent[28] - The company has committed to maintaining its cash dividend policy following the completion of the major asset restructuring[30] - The company has a commitment to prevent non-operational occupation of funds by shareholders and related parties, ensuring compliance with corporate governance standards[31] Other Financial Metrics - The company reported a non-recurring loss of CNY 1,493,778.51 attributable to non-operating activities[7] - Asset impairment losses decreased by 66.3% to CNY 4,230.55 million from CNY 12,552.50 million, attributed to the same reduction in dismantling volume[15] - The company incurred financial expenses of CNY 5,443,512.98 in Q1 2016, compared to a negative expense of CNY -6,105.57 in the previous year, indicating a shift in financial strategy[45] - The company reported a total profit of CNY -8,389,603.02 for Q1 2016, slightly improved from CNY -9,013,311.04 in the previous year[46]