CRCH(SH:600636)2015-04-29 16:00Financial Performance - Operating revenue rose by 56.19% to CNY 1,099,643,654.33 year-on-year[12] - Net profit attributable to shareholders was a loss of CNY 30,848,493.83, compared to a profit of CNY 27,163,257.05 in the same period last year[5] - The company's net profit attributable to shareholders decreased significantly due to the absence of CDM compensation income of approximately RMB 44 million in the current quarter and a continuous decline in market product prices[13] - The net profit for Q1 2015 was a loss of CNY 26,786,991.82, compared to a profit of CNY 48,159,729.45 in the previous year, reflecting a significant decline[27] - The net profit for Q1 2015 was -41,684,599.71 RMB, compared to -5,027,885.49 RMB in the previous period, reflecting a worsening financial performance[30] Assets and Liabilities - Total assets increased by 9.75% to CNY 4,259,552,439.91 compared to the end of the previous year[5] - The total assets as of March 31, 2015, amounted to RMB 4.26 billion, an increase from RMB 3.88 billion at the beginning of the year[19] - The company's total liabilities increased to RMB 2.09 billion from RMB 1.77 billion at the beginning of the year[20] - Current liabilities totaled CNY 1,239,435,942.48 in Q1 2015, compared to CNY 1,072,941,714.76 in the previous year, marking an increase of approximately 15.5%[24] - The total liabilities as of Q1 2015 were CNY 1,291,851,371.05, up from CNY 1,124,637,143.33, indicating an increase of approximately 14.9%[24] Cash Flow - Net cash flow from operating activities decreased by 46.72% to CNY 35,133,155.26[5] - Cash inflow from operating activities was 1,668,163,649.40 RMB, up from 1,115,727,424.80 RMB in the previous period, showing a 49.4% increase[32] - Cash outflow from operating activities totaled 1,633,030,494.14 RMB, compared to 1,049,789,157.70 RMB in the previous period, representing a 55.5% increase[32] - The net cash flow from operating activities was 35,133,155.26 RMB, down from 65,938,267.10 RMB in the previous period, indicating a decline of 46.6%[32] - Cash inflow from financing activities was 873,664,987.46 RMB, compared to 416,737,954.92 RMB in the previous period, marking a 109.8% increase[33] - The net cash flow from financing activities was 93,457,660.01 RMB, compared to -23,002,211.95 RMB in the previous period, showing a turnaround in financing performance[33] Expenses - Sales expenses increased by 39.01% to CNY 25,749,439.74 due to higher freight and service costs associated with increased sales revenue[12] - Financial expenses surged by 210.66% to CNY 14,116,738.56 compared to the previous year[12] - The company reported a gross profit margin decrease due to rising costs, with operating profit showing a loss of CNY 33,969,149.36 compared to a profit of CNY 11,427,711.92 in the previous year[27] Shareholder Information - The number of shareholders reached 55,091, with the largest shareholder holding 31.53% of the shares[9] Investments - The company completed the acquisition of 65% equity in Changshu Zhenfu New Materials Co., Ltd. for RMB 176.8 million on February 5, 2015[14] - The goodwill increased to RMB 64.77 million due to the premium acquisition of Zhenfu[19] - The company invested 159,120,000.00 RMB in cash during the investment activities, significantly higher than 30,000,000.00 RMB in the previous period[36] - The net cash flow from investment activities was -192,419,015.05 RMB, compared to -82,452,925.56 RMB in the previous period, indicating increased investment outflows[32] Operational Challenges - Cash flow from operating activities decreased primarily due to a decline in accounts receivable turnover rate, leading to an increase in accounts receivable[13] - The company anticipates a potential net loss for the year due to ongoing challenges in product pricing and production transitions[16]