HENGFENG PAPER(SH:600356)2015-04-29 16:00Financial Performance - Operating revenue for the period was CNY 301,989,694.46, showing a slight increase of 0.03% year-on-year[7] - Net profit attributable to shareholders rose by 4.32% to CNY 18,044,069.25 compared to CNY 17,297,493.50 in the same period last year[7] - Basic earnings per share decreased by 14.29% to CNY 0.06 from CNY 0.07[7] - The company reported a net cash outflow from operating activities of CNY -37,403,175.40, worsening from CNY -5,462,072.78 in the previous year[33] - The total comprehensive income for Q1 2015 was CNY 18,170,265.99, compared to CNY 17,449,430.94 in the prior year, showing an increase of about 4.13%[29] - The operating profit for the current period was CNY 23,207,308.65, up from CNY 22,706,213.00, reflecting a growth of approximately 2.20%[28] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,679,712,978.75, a decrease of 0.86% compared to the end of the previous year[7] - Total liabilities decreased to CNY 927,550,944.01 from CNY 1,080,270,708.94, indicating a reduction of about 14.14%[25] - Current assets totaled CNY 1,325,693,901.23, slightly up from CNY 1,319,186,286.99, indicating a growth of about 0.35%[24] - Non-current assets decreased to CNY 1,322,945,660.59 from CNY 1,360,165,457.50, representing a decline of approximately 2.73%[24] - Other current assets decreased by 61.98% to RMB 443,370.83 due to the impact of equipment insurance fee amortization[14] - Bonds payable decreased by 36.43% to RMB 175,150,078.87 due to the conversion of convertible bonds into shares[14] Shareholder Information - The total number of shareholders at the end of the reporting period was 13,671[12] - The largest shareholder, Mudanjiang Hengfeng Paper Group Co., Ltd., held 34.33% of the shares, with 72,000,000 shares frozen[12] - The controlling shareholder, Mudanjiang Hengfeng Paper Group, has committed to not engaging in competitive businesses and has fulfilled this commitment[15] - The controlling shareholder plans to convert RMB 140,105,000 of convertible bonds into shares within the next 12 months, ensuring their controlling stake does not decrease[16] Cash Flow - The company reported cash inflow from financing activities of 100,000,000.00 RMB, with cash outflow totaling 107,830,500.92 RMB, leading to a net cash outflow of 7,830,500.92 RMB[35] - Total cash inflow from operating activities was 290,129,908.31 RMB, while cash outflow was 323,681,234.34 RMB, resulting in a net cash outflow of 33,551,326.03 RMB[34] - The company's cash and cash equivalents decreased from CNY 305,054,463.51 to CNY 260,932,634.95, a decline of approximately 14.4%[23] - The cash and cash equivalents net increase for the period was -44,121,828.56 RMB, compared to -34,591,476.42 RMB in the previous year[35] Expenses - Management expenses increased by 32.45% to RMB 20,110,552.71, primarily due to salary adjustments[14] - The company incurred sales expenses of CNY 24,809,780.68, which is an increase of approximately 25.5% compared to CNY 19,735,425.74 in the previous year[28] - The financial expenses for Q1 2015 were CNY 13,747,603.75, compared to CNY 12,681,226.67 in the same period last year, indicating an increase of about 8.42%[28] - The company incurred tax payments of 57,511,125.07 RMB, compared to 48,182,738.14 RMB in the same period last year, reflecting a rise in tax obligations[34] Asset Changes - Construction in progress increased by 121.80% to RMB 11,517,832.86, attributed to the Phase II renovation of the No. 11 machine and the Phase II project of the printing machine production line[14] - Other non-current assets rose by 39.78% to RMB 5,616,266.88 due to increased procurement of project materials[14] - Asset impairment losses increased significantly by 357.20% to RMB 716,383.03, resulting from an increase in accounts receivable[14]