XTAD(SH:600359)2016-04-28 16:00Financial Performance - Operating revenue rose by 31.37% to CNY 212,033,515.45 compared to the same period last year[6] - Net profit attributable to shareholders decreased by 314.18% to a loss of CNY 16,998,072.08 compared to the same period last year[6] - Basic earnings per share decreased by 300.00% to CNY -0.04 compared to CNY 0.02 in the same period last year[6] - The weighted average return on net assets decreased by 2.9 percentage points to -2.1%[6] - The net loss for Q1 2016 was CNY 21,707,872.13, compared to a net loss of CNY 367,321.65 in the same period last year[27] - The company reported an operating profit of CNY -21,283,455.49 for Q1 2016, compared to a profit of CNY 105,638.36 in the previous year[27] - The company reported a net loss of CNY 171,605,762.83 for Q1 2016, compared to a net loss of CNY 15,246,195.27 in the same period last year, indicating a significant decline in profitability[31] - The company’s total comprehensive income for the period was not disclosed, but the net loss indicates challenges in overall financial performance[31] Cash Flow - Net cash flow from operating activities decreased by 188.28% to a negative CNY 29,387,802.55 compared to the same period last year[6] - Operating cash flow for the period was negative at CNY -29,387,802.55, a decrease from a positive cash flow of CNY 33,290,302.23 in Q1 2015[33] - The company reported cash inflows from operating activities of CNY 173,889,038.66, down from CNY 224,473,209.70 in Q1 2015, showing a decline in operational cash generation[33] - The company’s cash flow from financing activities showed a net increase of CNY 213,423,745.15, a significant improvement from a net outflow of CNY -41,712,264.04 in Q1 2015[34] - Cash outflows from investing activities totaled CNY 61,453,038.08, slightly higher than CNY 60,498,007.46 in the previous year, indicating continued investment efforts[34] - The company’s cash flow from investing activities was negative at CNY -61,172,128.08, indicating a continued focus on capital expenditures despite the losses[34] Assets and Liabilities - Total assets increased by 8.01% to CNY 2,965,152,061.20 compared to the end of the previous year[6] - Total liabilities reached CNY 2,146,489,809.01, up from CNY 1,904,912,209.22, indicating an increase of approximately 12.7%[21] - The company’s total equity decreased to CNY 933,248,462.92 from CNY 1,104,854,225.75, a decline of 15.5%[26] - The company’s short-term borrowings increased to CNY 752,500,000.00 from CNY 679,000,000.00, reflecting a rise of approximately 10.8%[20] - Long-term borrowings surged by 97.76% to ¥423,787,035.90, primarily due to increased loans for fixed assets[12] - Long-term borrowings increased significantly to CNY 390,000,000.00 from CNY 179,000,000.00, reflecting a growth of 118.5%[26] Shareholder Information - The total number of shareholders reached 58,161 at the end of the reporting period[10] - The largest shareholder, Aral Tongzhong State-owned Assets Management Co., Ltd., holds 153,815,575 shares, accounting for a significant portion of the total shares[10] - The company has committed to a shareholder return plan for 2014-2016, with a cash dividend ratio not less than 10% of distributable profits for each year[17] - The company plans to implement a cash dividend policy with a minimum cash distribution of 30% of the average annual distributable profits over the last three years[17] - The company has not distributed profits for the year 2014 due to a lack of distributable profits[17] Operational Highlights - The company reported non-operating income from government subsidies amounting to CNY 718,772.95[8] - The company experienced a non-recurring loss from the disposal of non-current assets amounting to CNY -982,122.10[6] - Accounts receivable decreased by 65.91% to ¥11,147,384.05 due to a reduction in receivables from Xin Nong Chemical Fiber Company[12] - Operating revenue increased by 31.37% to ¥212,033,515.45, primarily driven by increased income from Xin Nong Chemical Fiber Company[12] - Fixed assets rose by 41.02% to ¥924,780,636.24, mainly due to the transfer of construction projects to fixed assets by Xin Nong Chemical Fiber Company[12] - Prepaid accounts increased by 167.18% to ¥72,735,796.55, attributed to higher advance payments for materials by Xin Nong Chemical Fiber Company[12] - Sales expenses grew by 35.28% to ¥8,561,644.18, mainly due to expanded sales efforts in the dairy sector[13] - Financial expenses increased by 49.82% to ¥15,363,026.41, resulting from higher loan interest due to increased borrowing[13] - Asset impairment losses rose significantly by 162.09% to ¥21,766,879.74, primarily due to increased impairment provisions for milk powder in the dairy sector[13] - The company signed a strategic cooperation agreement for a 300,000-ton viscose fiber project with Zhejiang Fulida Co., Ltd. in July 2015, which is being implemented as planned[14]