SHANGHAI ENERGY(SH:600508)2014-04-25 16:00Financial Performance - Operating revenue decreased by 25.55% to CNY 1,594,089,737.45 compared to the same period last year [17]. - Net profit attributable to shareholders decreased by 78.68% to CNY 32,288,237.56 compared to the same period last year [10]. - Basic earnings per share decreased by 80.95% to CNY 0.04 compared to the same period last year [10]. - Total profit decreased year-on-year, mainly due to a substantial decline in the profitability of coal products caused by the downturn in the coal market [18]. - Net profit for Q1 2014 was CNY 26,350,695.88, a decline of 82.0% from CNY 146,719,811.41 in Q1 2013 [29]. - Earnings per share for Q1 2014 were CNY 0.04, down from CNY 0.21 in Q1 2013 [29]. - Sales revenue from goods and services received was CNY 1,977,139,570.68, down from CNY 2,150,270,234.68 in the previous period [33]. Cash Flow and Liquidity - Cash flow from operating activities increased by 70.39% to CNY 218,746,627.96 compared to the same period last year [10]. - Net cash flow from operating activities increased by 70.39%, reaching ¥218,746,627.96, primarily due to an increase in bank acceptance bill collections [20]. - Cash and cash equivalents increased by 46.47%, amounting to ¥640,986,561.61, compared to the beginning of the period [19]. - The company's cash and cash equivalents increased to CNY 248,909,112.12 from CNY 229,523,247.17 at the beginning of the year [25]. - Cash flow from financing activities generated a net inflow of CNY 74,655,486.61, down from CNY 232,330,512.50 in the previous period [34]. - The total cash and cash equivalents at the end of the period were CNY 289,154,469.90, a decrease from CNY 311,691,868.54 at the end of the previous period [34]. Assets and Liabilities - Total assets increased by 2.74% to CNY 13,477,069,562.77 compared to the end of the previous year [10]. - The total number of shareholders reached 76,718 at the end of the reporting period [12]. - The total liabilities increased to ¥5,068,269,085.65, up from ¥4,752,340,673.73 at the beginning of the period [23]. - Current liabilities totaled CNY 3,042,703,663.56, rising from CNY 2,940,815,717.79 at the start of the year [26]. - The total equity of the company increased to CNY 7,834,609,002.17 from CNY 7,766,257,126.09 at the beginning of the year [26]. Production and Sales - The company produced 2.824 million tons of self-produced raw coal and sold 1.5136 million tons of coal during the first quarter [16]. - Sales expenses decreased compared to the same period last year, primarily due to a decline in coal shipping volume, resulting in a significant drop in coal transportation costs [18]. - Total operating costs for Q1 2014 were CNY 1,542,887,960.76, down 20.3% from CNY 1,936,752,855.77 in Q1 2013 [29]. Market Conditions and Future Outlook - The company anticipates a significant decline in cumulative net profit for the year compared to the same period last year due to the ongoing low coal prices [20]. - The company temporarily suspended the operation of its electrolytic aluminum production system due to a prolonged market downturn [16].