SPC(SH:600688)2015-04-23 16:00Financial Performance - Operating revenue for the first quarter was CNY 19,630,320,000, down 18.59% year-on-year[6] - Net profit attributable to shareholders of the parent company was CNY 52,176,000, a significant recovery from a net loss of CNY 72,970,000 in the same period last year[6] - Basic and diluted earnings per share were both CNY 0.005, recovering from a loss of CNY 0.007 in the same period last year[6] - The company's operating profit was RMB 63,162 thousand, compared to an operating loss of RMB 60,304 thousand in the first quarter of 2014, reflecting a positive change of RMB 123,466 thousand[12] - The company reported a total profit of CNY 61,812 for Q1 2015, compared to a total loss of CNY 67,770 in Q1 2014[24] - Net profit for Q1 2015 reached CNY 63,302, compared to a net loss of CNY 72,539 in Q1 2014, marking a significant turnaround[24] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 1,045,568,000, a decline of 395.90% compared to the previous year[6] - Cash inflow from financing activities was CNY 12,537,858 thousand, down 13.2% from CNY 14,440,902 thousand in Q1 2014[30] - Net cash outflow from operating activities was CNY -995,148 thousand, compared to CNY -10,048 thousand in the previous year[30] - The ending cash and cash equivalents balance increased to CNY 265,012 thousand from CNY 110,244 thousand in Q1 2014[30] - Cash received from other operating activities increased to CNY 7,021 thousand from CNY 5,915 thousand in the previous year[30] Assets and Liabilities - Total assets decreased by 7.39% to CNY 28,844,776,000 compared to the end of the previous year[6] - Current assets totaled RMB 7,631,164 thousand, down from RMB 9,510,415 thousand, indicating a reduction of about 19.7%[17] - Total liabilities decreased from RMB 14,303,965 thousand to RMB 11,923,335 thousand, representing a reduction of about 16.6%[18] - The company's equity attributable to shareholders increased slightly from RMB 16,570,623 thousand to RMB 16,638,920 thousand, an increase of approximately 0.4%[18] Shareholder Information - The total number of shareholders reached 112,195 at the end of the reporting period[9] - The largest shareholder, Sinopec Limited, holds 50.56% of the shares, with 4,920,000,000 shares under lock-up[9] Inventory and Accounts Payable - The company's inventory decreased by 29.60%, from RMB 5,930,703 thousand to RMB 4,175,300 thousand, primarily due to a reduction in in-transit inventory[11] - Accounts payable dropped by 67.48%, from RMB 5,924,035 thousand to RMB 1,926,597 thousand, attributed to a decline in raw material procurement prices[11] Investment Income - Investment income increased to RMB 81,653 thousand from a loss of RMB 30,839 thousand in the previous year, showing a substantial improvement of RMB 112,492 thousand[12] Government Subsidy - The company reported a government subsidy of CNY 2,500,000, contributing positively to its financial performance[8] Cost Management - The company has initiated cost control measures to improve profitability and cash flow management[25] Future Plans - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[25]