PJRC(SH:600395)2016-04-22 16:00Financial Performance - Net profit attributable to shareholders was CNY -10,642.51 million, a decrease of 735.15% year-on-year[6] - Operating revenue fell by 29.03% to CNY 74,470.73 million compared to the same period last year[6] - Basic earnings per share were CNY -0.064, a decrease of 740.00% compared to the previous year[6] - The company reported a potential cumulative net profit loss for the year, significantly down compared to the same period last year, due to reduced demand in downstream industries such as electricity, steel, and cement, as well as intensified market competition and declining coal prices[18] - Net profit for Q1 2016 was a loss of CNY 10,642.56 million, compared to a profit of CNY 1,675.48 million in Q1 2015[30] - Operating profit turned negative at -¥11,107.92 million compared to a profit of ¥2,124.64 million in the same period last year[32] - Net profit also reported a loss of -¥11,140.30 million, a significant decline from a profit of ¥1,517.92 million in the previous year[32] Cash Flow - Net cash flow from operating activities was CNY -6,394.85 million, a decline of 123.90% year-on-year[6] - Cash flow from operating activities showed a net outflow of -¥6,394.85 million, down from a positive inflow of ¥26,759.26 million in the previous period[34] - Cash flow from investing activities resulted in a net outflow of -¥3,493.13 million, compared to -¥13,678.38 million in the same period last year[35] - Cash flow from financing activities generated a net inflow of ¥18,802.36 million, an increase from ¥825.93 million in the previous year[35] Assets and Liabilities - Total assets decreased by 1.82% to CNY 1,017,880.77 million compared to the end of the previous year[6] - The company's current assets totaled CNY 333,007.23 million, down from CNY 351,153.64 million at the beginning of the year[22] - Current liabilities totaled CNY 279,759.07 million, down from CNY 292,760.38 million at the beginning of the year[23] - Total liabilities decreased to CNY 429,219.63 million from CNY 439,420.26 million, a decrease of 2.7%[26] - Shareholders' equity attributable to the parent company decreased to CNY 557,411.23 million from CNY 566,034.12 million, a decrease of 1.1%[26] Shareholder Information - The number of shareholders reached 52,296 at the end of the reporting period[9] - The largest shareholder, Guizhou Panjiang Investment Holding Group Co., Ltd., holds 58.07% of the shares[9] Operational Metrics - Total operating revenue for Q1 2016 was CNY 74,470.73 million, a decrease of 29.0% compared to CNY 104,930.79 million in the same period last year[29] - Total operating costs for Q1 2016 were CNY 85,117.07 million, down 15.8% from CNY 100,998.02 million year-on-year[30] - The gross profit for the coal sales was 6,373.54 million RMB, indicating a significant contribution to the company's overall performance[13] - The company reported a 45.89% decrease in tax payments, totaling 11,499.16 million RMB, due to a decline in sales revenue from coal[12] Borrowings and Financing - Short-term borrowings increased by 37.04% to CNY 74,000.00 million compared to the beginning of the year[11] - The company received ¥20,000.00 million in borrowings during the financing activities, compared to ¥2,000.00 million in the same period last year[35] Cost Management - Sales expenses decreased by 89.55% to CNY 429.04 million due to changes in customer shipping responsibilities[11] - The company has implemented cost reduction measures, leading to a 39.40% decrease in other operating cash payments, totaling 5,302.47 million RMB[12] - The company reported a significant reduction in sales expenses, which fell to ¥429.04 million from ¥4,106.33 million in the previous period[32] Market Strategy - The company plans to continue expanding its market presence while adhering to regulatory requirements and maintaining transparency with investors[14] - The company has committed to avoiding direct or indirect competition with its major shareholders and their invested enterprises, ensuring compliance with market regulations[15] - The company has committed to maintaining operational independence and ensuring that its financial decisions are not influenced by its parent company[17] Industry Challenges - The company is facing challenges due to national macro policies and industry restructuring, leading to a significant decline in coal prices[18]