ZPMC(SH:600320)2014-04-29 16:00Financial Performance - Operating revenue for the first quarter reached CNY 4,198,222,774, a 4.12% increase year-on-year[7] - Net profit attributable to shareholders was CNY 24,849,628, reflecting a 3.19% increase from the same period last year[7] - Total operating revenue for Q1 2014 was CNY 4,198,222,774, an increase of 4.1% compared to CNY 4,032,216,367 in the same period last year[21] - Operating profit for Q1 2014 was CNY 29,325,876, a significant recovery from a loss of CNY 251,692,683 in Q1 2013[21] - Total comprehensive income for the current period is ¥75,726,405, an increase from ¥61,689,227 in the previous period[23] - Net profit for the current period is ¥57,347,834, compared to ¥32,021,033 in the previous period, reflecting a strong recovery[23] Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -725,904,099, compared to CNY -454,843,739 in the previous year[7] - Cash flow from operating activities showed a net outflow of CNY 725,904,099, a 59.59% increase in outflow compared to CNY 454,843,739 in Q1 2013[11] - The net cash flow from operating activities is -¥725,904,099, worsening from -¥454,843,739 in the previous period[26] - Cash flow from investing activities shows a net outflow of -¥4,488,181,422, compared to -¥4,112,074,626 in the previous period[26] - Cash flow from financing activities generated a net inflow of ¥3,496,269,742, down from ¥3,739,210,357 in the previous period[27] - The cash and cash equivalents at the end of the period stand at ¥1,434,656,028, a decrease from ¥1,529,900,036 in the previous period[27] Assets and Liabilities - Total assets increased by 9.87% to CNY 54,007,582,814 compared to the end of the previous year[7] - Total liabilities increased significantly, with short-term borrowings rising to CNY 22,370,408,005 from CNY 14,663,865,004[14] - Total liabilities increased to CNY 38,334,079,371 from CNY 33,783,939,941, showing a rise in financial obligations[18] - The company's cash and cash equivalents decreased to CNY 2,824,455,789 from CNY 3,098,787,795, indicating a reduction in liquidity[17] - Other current assets increased by 102.64% to CNY 8,516,168,659, primarily from the purchase of short-term financial products[10] - The company recorded a significant decrease in trading financial assets, down 55.96% to CNY 53,358,544[10] Shareholder Information - The total number of shareholders was 338,905 at the end of the reporting period[9] - The largest shareholder, China Communications Construction Company, holds 28.83% of the shares[9] - Basic and diluted earnings per share remained at CNY 0.01[7] - Basic earnings per share remained stable at CNY 0.01 for both Q1 2014 and Q1 2013[21] Non-Recurring Gains and Expenses - The company recognized a total of CNY 84,241,134 in non-recurring gains during the quarter[7] - The company reported a net profit excluding non-recurring gains and losses of CNY -59,391,506, an improvement from CNY -230,404,146 in the previous year[7] - Financial expenses rose by 47.89% to CNY 327,858,473 due to increased bank borrowings[10] - The company has increased its financial expenses to ¥312,504,159 from ¥210,141,909, indicating higher borrowing costs[23] Contracts and Projects - The company signed a sales contract for a 5000-ton deep-water crane and pipe-laying vessel with Petrofac on January 17, 2014[12] - The company also signed a sales contract for a high-specification self-elevating drilling platform on February 17, 2014[12]