COMEC(SH:600685)2016-04-28 16:00Financial Performance - Operating revenue for the period was CNY 4,337,542,284.61, representing a 10.25% increase year-on-year[8]. - Net profit attributable to shareholders was CNY 1,035,997.51, a significant recovery from a loss of CNY 203,676,106.34 in the same period last year[8]. - Basic and diluted earnings per share were both CNY 0.0007, recovering from a loss of CNY 0.1564 per share in the previous year[8]. - The company reported non-recurring gains of CNY 60,172,990.92 for the period[10]. - Operating income from non-core activities increased by 36.73% to CNY 27,450,321.00 from CNY 20,076,120.41, due to higher government subsidies[14]. - Net profit for Q1 2016 was CNY 2,936,005.88, a significant recovery from a net loss of CNY 203,400,346.55 in the previous year[29]. - The company reported a gross profit margin of approximately 1.5% for Q1 2016, compared to a negative margin in the same quarter last year[29]. - Total comprehensive income attributable to the parent company was CNY 560,758.27, a significant decrease from CNY -203,841,074.44 in the previous period[30]. Cash Flow and Liquidity - The net cash flow from operating activities improved to CNY -1,706,305,503.87, compared to CNY -3,285,049,395.09 in the previous year[8]. - Cash generated from financing activities increased by 65.51% to 3,909,410,510.39, attributed to an increase in borrowing scale[15]. - Cash inflow from operating activities totaled CNY 4,585,397,335.67, up from CNY 3,223,366,040.30 in the previous year[33]. - Cash outflow from investing activities was CNY 3,890,484,735.64, compared to CNY 1,595,840,915.82 in the same period last year[34]. - Net cash flow from financing activities was CNY 3,909,410,510.39, an increase from CNY 2,362,090,359.62 in the previous year[34]. - The ending cash and cash equivalents balance was CNY 8,585,517,765.92, compared to CNY 6,104,392,494.91 at the end of the previous year[34]. Assets and Liabilities - Total assets increased by 4.14% to CNY 51,025,894,642.37 compared to the end of the previous year[8]. - Current assets increased to CNY 36,526,896,802.86 from CNY 34,398,772,436.86, reflecting a growth of approximately 6.2%[21][22]. - The total liabilities of the company reached CNY 40,656,113,313.90, compared to CNY 38,627,297,191.72 at the beginning of the year, marking an increase of about 5.2%[23]. - The company's equity attributable to shareholders was CNY 10,319,166,889.58, slightly up from CNY 10,318,048,242.46[23]. - Short-term borrowings rose by 51.84% to CNY 10,243,840,709.81 from CNY 6,746,671,403.20, reflecting new borrowings[14]. Government Relations and Subsidies - The company received government subsidies amounting to CNY 27,194,089.84, which are closely related to its normal business operations[7]. - The company is actively coordinating with the Guangzhou government regarding compensation related to the relocation of Huangpu Wenchong and Wenchong Shipyard[17]. - The company plans to provide cash compensation for any shortfall in government compensation related to asset relocation costs within 90 days after the government compensation is fully in place[17]. Operational Changes and Future Plans - The company committed to restructuring and eliminating competition issues within five years post-restructuring completion[16]. - The company will ensure independence in personnel, assets, business, and finance to protect shareholder interests[16]. - The company plans to relocate its shipbuilding facilities as per government urban planning, with the transition period ensuring continuous operations[16]. - The company aims to maintain normal production and operations during the transition period of facility relocation[16]. - The company has committed to compensating for any losses incurred due to breaches of competition commitments[16]. Shareholder Information - The total number of shareholders at the end of the reporting period was 46,856[12]. - HKSCC NOMINEES LIMITED held 41.66% of shares, while China Shipbuilding Industry Group Company held 35.50%[12].