CORUN(SH:600478)2016-04-29 16:00Financial Performance - Operating revenue surged by 153.80% to CNY 433,157,529.45 year-on-year[6] - Net profit attributable to shareholders was a loss of CNY 34,823,857.49, compared to a loss of CNY 23,022,439.11 in the same period last year[6] - Basic and diluted earnings per share were both -CNY 0.038, showing no improvement from the previous year[6] - The net loss for Q1 2016 was CNY 42,596,027.10, compared to a net loss of CNY 21,885,771.35 in Q1 2015, representing an increase in losses of 94.5%[28] - The gross profit margin for Q1 2016 was approximately -10.5%, indicating a decline from the previous year's margin[28] - The company recorded an operating profit of CNY -51,083,099.84 for Q1 2016, worsening from CNY -28,339,586.86 in the same quarter last year[28] Assets and Liabilities - Total assets increased by 20.32% to CNY 4,592,404,340.14 compared to the end of the previous year[6] - Total current assets increased to ¥1,809,537,368.91 from ¥1,142,459,238.21, representing a growth of approximately 58.4%[19] - Total non-current assets amounted to ¥2,782,866,971.23, up from ¥2,674,422,233.56, showing an increase of about 4.0%[20] - Total liabilities increased to ¥2,457,910,637.35 from ¥1,685,266,071.63, representing a growth of approximately 46.6%[21] - The company's total liabilities as of Q1 2016 were CNY 995,872,569.51, an increase of 25% from CNY 797,402,064.20 in the previous year[25] Cash Flow - The net cash flow from operating activities was a negative CNY 7,657,469.87, an improvement from a negative CNY 35,914,065.67 year-on-year[6] - Cash inflow from sales of goods and services reached ¥479,435,932.95, a significant increase from ¥209,596,339.06 in the previous period, representing a growth of approximately 128.5%[35] - Cash inflow from financing activities totaled ¥929,350,922.10, up from ¥261,926,246.42, indicating a growth of approximately 254.5%[36] - The net increase in cash and cash equivalents for the period was ¥627,876,367.20, compared to a decrease of -¥77,993,669.67 in the prior period[37] Shareholder Information - The number of shareholders reached 37,393 by the end of the reporting period[9] - The largest shareholder, Hunan Keli Yuan High-tech Group Co., Ltd., holds 17.69% of the shares, totaling 164,008,162 shares[9] Government Support - The company received government subsidies amounting to CNY 7,347,059.84, which are closely related to its normal business operations[7] Operational Costs - The company's operating costs rose by 186.47% to ¥418,024,283.99, reflecting the increase in revenue and associated costs[12] - Total operating costs for Q1 2016 amounted to CNY 478,810,657.69, up 141.5% from CNY 198,520,245.99 in Q1 2015[28] Investments and Acquisitions - The company plans to acquire a 29% stake in Fujian Fuwang Power Technology Co., Ltd. for ¥29 million and will also inject ¥44 million in capital into the company[14] - The company reported a goodwill of ¥13,770,364.01, resulting from the acquisition of Fujian Fuwang Power Technology Co., Ltd.[11] Financial Management - The company’s management expenses rose by 21.48% to ¥44,479,860.40, mainly due to increased expenditures from subsidiaries[13] - The company’s financial expenses decreased by 19.23% to ¥7,119,082.90, due to a reduction in financing scale compared to the previous year[13] - The company has committed to avoid competition with its related parties and ensure compliance with its commitments[15]