TENGDA CONST.(SH:600512)2015-04-28 16:00Financial Performance - Net profit attributable to shareholders decreased by 65.47% to CNY 2,977,357.10 year-on-year[5] - Operating revenue increased by 40.45% to CNY 739,825,611.26 compared to the same period last year[5] - Basic and diluted earnings per share decreased by 60.00% to CNY 0.004[5] - Net profit for Q1 2015 was CNY 881,778.11, a decrease of 87.9% from CNY 7,298,130.14 in Q1 2014[26] - The company's net profit for Q1 2015 was CNY 4,752,208.85, a decrease of 76.3% compared to CNY 20,051,184.95 in the same period last year[29] - Operating profit for Q1 2015 was CNY 6,450,496.71, down 76.2% from CNY 27,163,771.46 year-over-year[29] Cash Flow - Net cash flow from operating activities was negative at CNY -192,985,200.31, a decrease of 1,022.49% year-on-year[5] - The net cash flow from operating activities for Q1 2015 was negative CNY 192,985,200.31, compared to a positive CNY 20,919,938.22 in the same period last year[32] - The total cash outflow from operating activities in Q1 2015 was CNY 1,086,631,355.26, compared to CNY 819,561,062.78 in the previous year, indicating increased operational costs[32] - Cash inflow from financing activities totaled $1,396,319,999.33, significantly higher than $352,000,000.00 previously[35] - Cash outflow from financing activities was $1,031,405,518.05, compared to $454,108,414.34 in the prior period[35] - Net cash flow from financing activities was $364,914,481.28, a turnaround from a negative $102,108,414.34 previously[35] Assets and Liabilities - Total assets decreased by 10.78% to CNY 5,050,969,820.94 compared to the end of the previous year[5] - The total assets as of March 31, 2015, were CNY 5,050,969,820.94, down from CNY 5,661,251,317.62 at the beginning of the year[17] - The company's total liabilities decreased to CNY 2,985,175,436.27 from CNY 4,490,014,686.45, indicating a reduction in financial leverage[18] - Total liabilities decreased to CNY 2,439,694,108.19 from CNY 3,329,394,256.45 at the beginning of the year, reflecting a reduction of 26.8%[22] - The company's equity attributable to shareholders increased to CNY 2,369,460,486.59 from CNY 1,471,054,133.96, representing a growth of 60.9%[23] Inventory and Receivables - The company’s inventory decreased to CNY 3,027,236,650.04 from CNY 3,270,105,625.65, reflecting a reduction in stock levels[17] - Accounts receivable decreased to CNY 507,498,350.67 from CNY 663,346,796.09, a reduction of 23.5% year-over-year[20] - Accounts payable decreased by 38.45% to CNY 457,823,797.03 due to payments for previous engineering materials[10] Capital and Financing - The company completed a non-public stock issuance, increasing its registered capital to CNY 1,018,037,229.00 and capital reserve by CNY 608,022,329.76, with a total of 1,018,037,229 shares outstanding[11] - The major shareholder, Ye Linfu, increased his stake to 6.93% after the stock issuance, which may influence the company's strategic direction moving forward[12] - The company paid CNY 1,235,500,000.00 in debt repayments during Q1 2015, compared to CNY 373,200,000.00 in the same period last year[33] Financial Expenses - The company reported a significant increase in financial expenses, which rose by 261.86% to CNY 34,867,326.64 due to interest capitalization on completed real estate projects[11] - The company incurred financial expenses of CNY 14,322,405.24 in Q1 2015, compared to a financial income of CNY 2,842,054.30 in the same period last year[29] Other Financial Metrics - Cash and cash equivalents decreased by 39.08% to CNY 389,417,110.15 due to repayment of bank loans[10] - Cash and cash equivalents at the end of Q1 2015 were CNY 388,647,110.15, down from CNY 662,786,617.54 at the end of the previous year[33] - Current assets totaled CNY 3,991,849,594.33, a marginal increase from CNY 3,979,099,619.00 at the start of the year[20] - The total cash inflow from financing activities in Q1 2015 was CNY 1,396,319,999.33, significantly higher than CNY 671,400,000.00 in the previous year[33]