HIGHLY(SH:600619)2016-04-25 16:00Financial Performance - Operating revenue rose by 14.41% to CNY 1,681,545,524.18 year-on-year[5] - Net profit attributable to shareholders decreased by 46.69% to CNY 15,878,706.42 compared to the same period last year[5] - Basic earnings per share dropped by 50.00% to CNY 0.02[5] - The company reported a significant decline in net profit due to increased costs and lower margins[11] - Total operating revenue for Q1 2016 was CNY 1,681,545,524.18, an increase of 14.4% compared to CNY 1,469,758,554.39 in the same period last year[32] - Net profit for Q1 2016 was CNY 25,429,487.16, a decrease of 41.0% from CNY 43,160,434.43 in Q1 2015[32] - The net profit attributable to shareholders of the parent company was CNY 15,878,706.42, down 46.4% from CNY 29,783,445.52 in the previous year[32] - The company reported an operating profit of CNY 25,983,365.06, down from CNY 49,377,127.33 in Q1 2015, indicating a decline of 47.4%[32] Cash Flow and Liquidity - Net cash flow from operating activities was negative at CNY -83,559,852.83, a decline of 321.58% year-on-year[5] - The net cash flow from operating activities for Q1 2016 was a negative CNY 83,559,852.83, compared to a positive CNY 37,710,881.59 in Q1 2015[38] - The company received CNY 551,580,666.70 from financing activities in Q1 2016, a significant increase from CNY 23,951,966.76 in the same period last year[39] - Cash and cash equivalents increased to CNY 947,365,328.11 from CNY 739,447,818.81, reflecting a growth of about 28.14%[24][26] - Cash outflow from financing activities remained constant at $48,500,000.00, indicating stable dividend distribution and interest payments[42] Assets and Liabilities - Total assets increased by 3.95% to CNY 11,007,663,128.40 compared to the end of the previous year[5] - The total number of shareholders reached 48,326, with the largest shareholder holding 25.21% of shares[9] - The company's current assets totaled CNY 5,771,090,189.00, up from CNY 5,309,463,083.20 at the start of the year, indicating a growth of approximately 8.69%[24][26] - The total liabilities increased to CNY 6,282,429,186.73 from CNY 5,881,435,220.19, representing a growth of about 6.81%[26] - Short-term borrowings increased by 39.41% compared to the beginning of the year, mainly due to a decrease in cash discounts and an increase in current borrowings[14] - Accounts payable increased by 37.74% compared to the beginning of the year, driven by increased production and procurement amounts[14] Investment and Expenses - The company’s financial expenses increased by 118.15% year-on-year, mainly due to increased exchange losses[16] - The company’s investment income decreased by 80.48% year-on-year, primarily due to the absence of gains from the sale of other listed company stocks[16] - Total operating costs for Q1 2016 were CNY 1,656,575,989.00, up from CNY 1,425,209,830.34, reflecting a year-over-year increase of 16.2%[32] - The investment activities resulted in a net cash outflow of CNY 128,483,220.05 in Q1 2016, compared to a net outflow of CNY 47,021,845.76 in Q1 2015[38] Shareholder Information - The company reported a net profit commitment of no less than CNY 342,410,000 for the performance compensation period[21] - The company has committed to a lock-up period for shares held by major shareholders for 36 months following the completion of the share issuance[21]