FSSS(SH:600399)2016-04-14 16:00Financial Performance - Operating revenue for the first quarter was CNY 1,154,798,599.32, down 10.41% year-on-year[6] - Net profit attributable to shareholders was CNY 49,000,853.47, a decline of 19.35% compared to the same period last year[6] - Cash flow from operating activities was CNY 62,924,389.86, representing a decrease of 50.54% year-on-year[6] - Total operating revenue for Q1 2016 was CNY 1,154,798,599.32, a decrease of 10.4% compared to CNY 1,288,927,602.41 in the same period last year[29] - Net profit for Q1 2016 was CNY 49,000,853.47, a decline of 19.4% from CNY 60,754,047.26 in the previous year[30] - The operating profit decreased to ¥53,784,426.83, a decline of 31.85% from ¥78,795,479.48 in the previous period[32] Assets and Liabilities - Total assets at the end of the reporting period were CNY 12,899,758,767.71, a decrease of 0.73% compared to the end of the previous year[6] - The company's total assets at the end of Q1 2016 amounted to CNY 12,997,889,999.59, slightly down from CNY 13,026,986,602.53 at the beginning of the year[27] - Current assets totaled CNY 7,252,365,212.90, a decrease of 1% from CNY 7,324,951,489.62 at the start of the year[26] - Total liabilities decreased to CNY 10,931,471,028.03 from CNY 11,075,799,706.32, indicating a reduction of approximately 1.3%[23] - The total liabilities as of Q1 2016 were CNY 11,006,575,793.75, down from CNY 11,083,976,971.53 at the beginning of the year[27] Shareholder Information - The number of shareholders at the end of the reporting period was 146,731[9] - The largest shareholder, Northeast Special Steel Group Co., Ltd., held 501,549,200 shares, accounting for 38.58% of total shares[9] Cash Flow - The net cash flow from operating activities decreased significantly due to increased operating expenses[13] - The total cash inflow from operating activities is ¥1,257,446,492.38, an increase of 9.92% from ¥1,143,846,029.32 in the previous period[35] - The total cash outflow from operating activities is ¥1,194,522,102.52, an increase of 17.53% from ¥1,016,618,219.83 in the previous period[36] - The cash flow from financing activities shows a net outflow of ¥195,052,915.01, an improvement from a net outflow of ¥246,032,620.97 in the previous period[37] Government Support - Government subsidies recognized in the current period amounted to CNY 1,998,658.32, contributing to an increase in other income[9] Related Party Transactions - Northeast Special Steel Group has committed to avoiding conflicts of interest with Fushun Special Steel and has established management systems to ensure product differentiation and client selection[16] - The company reported that Northeast Special Steel Group will minimize related transactions with Fushun Special Steel post-acquisition completion[17] - Northeast Special Steel Group has pledged to maintain the independence of Fushun Special Steel's operations and management, ensuring no overlap in personnel or decision-making[17] Financial Guidance - The company's net profit guidance indicating potential losses or significant changes compared to the previous year[19] Inventory and Receivables - Accounts receivable increased to CNY 1,368,309,217.60 from CNY 1,124,099,290.93, representing a growth of about 21.8%[21] - Inventory levels remained stable, with a slight increase to CNY 2,415,980,960.03 from CNY 2,409,793,172.65[21]