WZJT(SH:600368)2016-04-29 16:00Financial Performance - Operating revenue fell by 64.53% to CNY 303.1 million year-on-year[6] - Net profit attributable to shareholders increased by 204.60% to CNY 94.5 million compared to the same period last year[6] - Basic and diluted earnings per share rose by 175.00% to CNY 0.11[6] - Total revenue for Q1 2016 was CNY 303,085,774.77, a decrease of 64.5% compared to CNY 854,373,115.08 in the same period last year[41] - Net profit for Q1 2016 reached CNY 85,925,745.70, an increase of 203.5% compared to CNY 28,295,588.05 in Q1 2015[41] - The company reported a total profit for the period of CNY 199,868,211.47, down 19.5% from CNY 248,264,442.08 in Q1 2015[46] Cash Flow and Liquidity - Cash flow from operating activities decreased by 47.98% to CNY 186.4 million year-to-date[6] - Cash received from sales and services dropped by 60.96% to CNY 314,901,142.03 from CNY 806,704,507.30, primarily due to reduced trade receipts from a subsidiary[17] - Cash and cash equivalents decreased from ¥669,646,851.71 at the beginning of the year to ¥289,819,127.82 by the end of the reporting period, representing a decline of approximately 56.7%[32] - The company reported a significant decrease in cash and cash equivalents of -$340,204,047.62 compared to an increase of $631,203,475.05 in the prior period[54] - The ending balance of cash and cash equivalents was $82,868,311.53, significantly lower than the previous period's balance of $814,027,056.06[54] Assets and Liabilities - Total assets decreased by 5.95% to CNY 11.6 billion compared to the end of the previous year[6] - Total current assets decreased from ¥4,695,397,039.60 to ¥4,013,913,517.56, indicating a decline of approximately 14.5%[32] - Total liabilities decreased from ¥9,319,521,475.40 to ¥8,499,535,421.19, reflecting a reduction of about 8.8%[34] - The company's long-term borrowings increased from ¥2,798,950,000.00 to ¥2,998,950,000.00, an increase of approximately 7.2%[34] Shareholder Information - The total number of shareholders reached 63,396 at the end of the reporting period[11] - The largest shareholder, Guangxi Transportation Investment Group, holds 34.95% of the shares[11] Government Support and Subsidies - The company received government subsidies amounting to CNY 375,942.08 related to its subsidiary Guangxi Pingxiang Wantong International Logistics[8] Investment and Disposals - In Q1 2016, the company received net cash of 339,985,000 from the disposal of subsidiaries, primarily from the transfer of equity interests[18] - The company has recovered 78,359,162.38 from the disposal of Nanning South Star Antimony Co., Ltd. as of April 5, 2016[24] - The company has also recovered 240,782,988.84 from the disposal of Tanghan Zinc Indium Co., Ltd. as of early April 2016[25] Operational Changes - The company continues to fulfill labor contracts with employees after the transfer of shares, ensuring no layoffs during the transition[29] - The company has issued a commitment letter to avoid competition with its parent company, ensuring no conflicts in project bidding[29] Future Outlook - The company plans to focus on market expansion and new product development in the upcoming quarters[41]