NXBM(SH:600449)2014-04-25 16:00Financial Performance - Operating revenue for the first quarter reached CNY 401,959,921.99, a 10.94% increase year-on-year[10] - Net profit attributable to shareholders was CNY -58,856,598.87, showing an improvement from CNY -65,919,736.75 in the same period last year[10] - Total operating revenue for the current period is ¥401,959,921.99, an increase of 10.9% from ¥362,332,376.94 in the previous period[28] - Operating profit for the current period is -¥65,711,082.30, an improvement from -¥74,833,167.66 in the previous period[28] - Net profit for the current period is -¥65,892,583.82, compared to -¥73,515,737.03 in the previous period, showing a reduction in losses[28] - Basic and diluted earnings per share are both -0.123, an improvement from -0.140 in the previous period[28] - Total comprehensive income for the current period is -¥65,892,583.82, compared to -¥73,515,737.03 in the previous period[28] Cash Flow - Cash flow from operating activities decreased by 53.64% to CNY 97,549,828.01 compared to the previous year[10] - The net cash flow from operating activities decreased by 53.64% to ¥97,549,828.01 compared to ¥210,399,465.19 in the same period last year, primarily due to increased tax payments, employee compensation, and accounts receivable settlement volume[17] - Cash flow from operating activities generated a net amount of ¥97,549,828.01, down from ¥210,399,465.19 in the previous period[32] - Net cash flow from operating activities decreased to $5,023,128.39 from $16,507,681.31, a decline of approximately 69.6% year-over-year[35] - Cash inflow from operating activities totaled $19,848,473.27, down from $24,536,269.13, representing a decrease of about 19.5%[35] - Cash outflow from operating activities increased to $14,825,344.88 from $8,028,587.82, an increase of approximately 84.5%[35] Assets and Liabilities - Total assets increased by 1.12% to CNY 8,086,571,325.53 compared to the end of the previous year[10] - Current assets totaled CNY 2,461,192,174.57, up from CNY 2,396,869,864.17, indicating an increase of about 2.68%[22] - The company's cash and cash equivalents rose to CNY 471,554,904.89 from CNY 359,369,397.93, representing a growth of approximately 31.2%[22] - Total liabilities reached CNY 3,651,653,195.45, compared to CNY 3,491,570,812.43 at the start of the year, reflecting an increase of about 4.6%[23] - The company's equity decreased to CNY 4,434,918,130.08 from CNY 4,505,484,262.23, a decline of approximately 1.57%[23] - Short-term borrowings increased to CNY 833,000,000.00 from CNY 783,000,000.00, representing a rise of about 6.4%[23] - The total current liabilities rose to CNY 2,592,490,018.96 from CNY 2,431,420,078.70, indicating an increase of approximately 6.63%[23] Inventory and Prepayments - The company reported a significant increase in prepayments by 119.53% to CNY 192,864,723.56, mainly due to advance payments for raw materials[14] - Inventory rose by 50.87% to CNY 674,271,903.97, reflecting the need to store clinker products for future cement production[14] - Inventory increased significantly to CNY 674,271,903.97 from CNY 446,930,887.85, marking a rise of approximately 50.8%[22] Management and Operational Commitments - Management expenses surged by 97.78% to CNY 81,478,295.11 due to the consolidation of newly acquired subsidiaries[15] - The company continues to fulfill commitments made during the 2011 merger with Ningxia Building Materials Group, ensuring the independence of its subsidiaries and compliance with regulatory requirements[18] - The company is in the process of repurchasing shares from China National Materials Group Corporation as part of its commitment to compensate for any shortfall in cumulative net profit during the specified period[18] - The company is actively managing its financial commitments and ensuring compliance with shareholder agreements[18] - The company is focused on maintaining operational independence for its subsidiaries while navigating competitive landscapes in the cement industry[18] Competition and Regulatory Compliance - The company has committed to resolving competition issues with Qilian Mountain Cement Group through acquisition or management of production lines, although some commitments remain unfulfilled due to lack of consensus among parties involved[18] - The company has assured that the merger will not create new competition with its subsidiary, ensuring no substantial competitive business will be conducted in the future[18] - China National Materials Group Corporation will not engage in similar production or business activities as Saima Industrial to avoid competition after the acquisition[20] - The company aims to resolve potential competition in the cement industry through acquisitions or management by the end of 2015[20] - The company is committed to strictly controlling related party transactions to minimize conflicts with Saima Industrial[20] - The company will ensure compliance with national regulations and the requirements of the China Securities Regulatory Commission regarding related party transactions[21] - The company plans to integrate its cement business into a single development platform to eliminate competition within the industry[20] - The company has made commitments to avoid new competition with Saima Industrial and will actively fulfill these obligations[21] - The company will coordinate with local governments and shareholders to support the resolution of potential competition in the cement sector[20] - The company will implement specific operational plans based on market conditions and asset status in various regions[20] - The company has not yet encountered any conditions that require fulfilling its commitments regarding potential liabilities from the acquisition[20] - The company will compensate for any losses incurred by Saima Industrial due to undisclosed liabilities within seven working days after the loss is determined[20]