TJ(SH:600667)2015-04-27 16:00Financial Performance - Operating revenue increased by 15.29% to CNY 1,122,872,466.48 compared to the same period last year[7] - The net profit attributable to shareholders was CNY -10,082,703.92, worsening from CNY -8,917,062.37 in the same period last year[7] - The net profit attributable to the parent company's shareholders for Q1 2015 was -8.0142 million RMB, indicating potential negative cumulative net profit by June 30, 2015 if operational improvements are not achieved[16] - Total revenue for Q1 2015 was CNY 1,122,872,466.48, an increase of 15.3% compared to CNY 973,950,001.98 in the same period last year[27] - The company reported a net profit margin of approximately 2.0% for Q1 2015, compared to 2.9% in the previous year[27] - The company reported a net loss attributable to shareholders of CNY -8,014,151.47, compared to a loss of CNY -8,862,804.75 in the previous year[28] - Comprehensive income for Q1 2015 totaled CNY 23,972,558.86, down 18.66% from CNY 29,438,621.47 in Q1 2014[29] - The total profit for Q1 2015 was CNY 29,757,036.68, an increase of 5.86% compared to CNY 28,104,215.53 in Q1 2014[28] Cash Flow and Liquidity - Net cash flow from operating activities was CNY -322,405,223.64, a significant decline compared to CNY -23,707,745.91 in the previous year[7] - Cash and cash equivalents decreased by 55.02% to CNY 747,891,540.40 due to reduced operating cash flow[12] - Cash inflow from operating activities was CNY 589,049,747.15, an increase of 20.36% from CNY 489,320,313.41 in the same period last year[34] - Cash flow from operating activities showed a net outflow of ¥322,405,223.64, compared to a net outflow of ¥23,707,745.91 in the previous period, indicating a significant decline in operational cash generation[35] - The ending balance of cash and cash equivalents decreased to ¥395,359,691.22 from ¥656,171,695.84, indicating a substantial reduction in liquidity[36] - The net cash increase for the period was -¥101,560,903.85, compared to -¥34,406,670.39 in the previous period, reflecting ongoing cash flow difficulties[39] Assets and Liabilities - Total assets decreased by 7.81% to CNY 5,270,056,146.17 compared to the end of the previous year[7] - Total current assets as of March 31, 2015, were approximately 1.94 billion RMB, down from 2.35 billion RMB at the beginning of the year[20] - The company's fixed assets were valued at approximately 2.66 billion RMB as of March 31, 2015, a decrease from 2.73 billion RMB at the start of the year[20] - Total liabilities decreased to CNY 3,067,303,152.40 from CNY 3,537,771,243.34, a reduction of 13.3%[22] - The total equity attributable to shareholders was CNY 1,561,472,748.94, down from CNY 1,566,627,909.05, a decrease of 0.3%[22] Operational Challenges - Cash outflow for employee payments increased to ¥2,144,856.30 from ¥841,369.63, reflecting higher labor costs[38] - The company incurred financial expenses of CNY 8,963,823.18, a decrease of 16.77% from CNY 10,776,311.19 in Q1 2014[31] - Operating profit for Q1 2015 was CNY -13,240,881.22, compared to CNY -11,131,064.77 in Q1 2014, indicating a decline in operational performance[31] - The company is actively working on a major asset restructuring project, which is still in progress and carries uncertainties[14] Financing Activities - The company is currently negotiating a syndicated loan after the subsidiary repaid its previous loans[12] - Cash inflow from financing activities was limited to ¥20,000,000.00, a sharp decline from ¥157,000,000.00 in the previous period, indicating reduced capital raising efforts[39] - The company received ¥365,550,831.01 in borrowings during the period, down from ¥784,031,320.74 in the previous period, suggesting a decrease in reliance on debt financing[35] Other Notable Events - The company signed a memorandum with SK Hynix for continued backend services, extending the agreement's validity until March 31, 2015, with negotiations for a formal agreement ongoing[13] - The company has committed to maintaining a cash dividend policy, aiming to distribute at least 30% of the net profit attributable to shareholders in cash annually, subject to conditions[16] - The company has pledged to avoid competition with its controlling shareholder, ensuring no direct or indirect engagement in similar business activities[15]