XACIG(SH:600596)2015-04-29 16:00Financial Performance - Operating revenue increased by 8.99% to CNY 2,027,780,663.10 compared to the same period last year[7] - Net profit attributable to shareholders decreased by 90.58% to CNY 3,858,230.18 compared to the same period last year[7] - Net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 106.30% to CNY -2,479,983.53 compared to the same period last year[7] - Basic earnings per share decreased by 90.55% to CNY 0.0057 compared to the same period last year[7] - The company's total assets were CNY 7,901,462,477.75, down from CNY 7,973,555,250.84, reflecting a decrease of 0.9%[21] - The equity attributable to shareholders of the parent company was CNY 4,287,716,456.87, slightly down from CNY 4,299,786,538.24[21] - The company reported a net profit margin of approximately -0.1% for the quarter, indicating a challenging cost environment[27] - The net profit for Q1 2015 was CNY 7,810,894.98, a decrease of 29.5% from CNY 11,135,785.11 in Q1 2014[32] - The total profit for Q1 2015 was CNY 6,344,496.03, down 73.3% from CNY 23,719,994.42 in the previous year[31] Cash Flow and Liquidity - The net cash flow from operating activities was CNY -18,469,472.50, an improvement from CNY -87,876,308.19 in the same period last year[7] - Cash and cash equivalents decreased by 32% to ¥400,936,146.70 due to increased product credit sales[13] - The total cash and cash equivalents at the end of the period were CNY 398,350,160.13, down from CNY 538,189,391.46 year-over-year[36] - The beginning cash balance was CNY 157,245,461.34, leading to an ending cash balance of CNY 121,031,064.39[38] - Operating cash inflow totaled CNY 2,058,419,835.68, slightly up from CNY 2,047,624,886.70 in the previous year, while cash outflow was CNY 2,076,889,308.18, down from CNY 2,135,501,194.89[35] Assets and Liabilities - Total assets decreased by 0.90% to CNY 7,901,462,477.75 compared to the end of the previous year[7] - Total liabilities amounted to CNY 3,249,735,264.65, down from CNY 3,303,547,945.55, indicating a reduction of 1.6%[21] - Current liabilities were CNY 2,808,996,128.51, a decrease of 2.4% from CNY 2,877,356,476.84[20] - Deferred income tax liabilities surged by 390% to ¥4,731,816.22, driven by increased investment income[13] - Total liabilities increased significantly, with cash used for debt repayment rising by 58% to ¥521,259,914.05[14] Shareholder Information - The total number of shareholders reached 67,349 at the end of the reporting period[12] - The largest shareholder, Chuanhua Group Co., Ltd., held 101,725,800 shares, accounting for 14.98% of the total shares[12] Government Support and Subsidies - Government subsidies recognized during the period amounted to CNY 3,172,517.90[9] - Other cash received related to operating activities increased by 89% to ¥51,144,358.07, primarily from government subsidies[13] Operational Costs and Expenses - Total operating costs for Q1 2015 were CNY 2,031,851,548.31, up from CNY 1,795,831,325.97, reflecting a year-over-year increase of 13.1%[27] - The company's financial expenses decreased to CNY 3,130,100.82 from CNY 4,079,151.31, a reduction of 23.3%[31] - The company's management expenses decreased to CNY 41,321,684.31 from CNY 52,354,473.74, a decline of 21.0%[31] - The company reported a decrease in sales expenses to CNY 24,006,832.99 from CNY 23,727,822.76, indicating a slight increase of 1.2%[31] Market Conditions and Future Outlook - The company plans to continue monitoring the impact of ongoing legal issues related to environmental concerns[14] - The company is facing potential losses or significant changes in net profit compared to the previous year, with ongoing assessments of market conditions[17] - Net profit for the first half of 2014 was ¥90,346,700, with a projected decline of over 50% for the current year due to significant price drops in key products[15]