SPC(SH:600688)2016-04-27 16:00Financial Performance - Operating revenue for the reporting period was CNY 16,564,814, a decrease of 15.62% year-on-year[6]. - Net profit attributable to shareholders was CNY 1,145,237, representing a significant increase of 2,094.95% compared to the same period last year[6]. - Basic earnings per share increased to CNY 0.106, up 2,020.00% from CNY 0.005 in the previous year[8]. - The company's net profit for Q1 2016 reached RMB 1,151,535 thousand, representing a significant increase of RMB 1,088,233 thousand or 1,719.11% compared to the same period in 2015[15]. - Operating profit for Q1 2016 was RMB 1,506,027 thousand, up by RMB 1,442,865 thousand or 2,284.39% year-on-year, primarily due to a smaller decline in product prices compared to raw material costs[15]. - Total operating revenue for Q1 2016 was CNY 16,564,814, a decrease of 15.8% compared to CNY 19,630,320 in the same period last year[24]. - Net profit for Q1 2016 reached CNY 1,151,535, significantly up from CNY 63,302 in Q1 2015, representing a year-over-year increase of 1,724.5%[25]. - Basic and diluted earnings per share for Q1 2016 were CNY 0.106, compared to CNY 0.005 in the same quarter last year[25]. Cash Flow - The company generated a net cash flow from operating activities of CNY 1,947,815, a turnaround from a negative cash flow of CNY -1,045,568 in the same period last year[6]. - In Q1 2016, the net cash flow from operating activities was ¥1,947,815, a significant improvement compared to a net outflow of ¥1,045,568 in the same period last year[27]. - Total cash inflow from operating activities was ¥18,752,571, while cash outflow was ¥16,804,756, resulting in a net cash inflow of ¥1,947,815[27]. - Cash and cash equivalents at the end of Q1 2016 amounted to ¥1,903,416, up from ¥321,657 in the previous year[28]. - The company reported a cash inflow from financing activities of ¥1,624,657, down from ¥12,222,829 in the previous year[27]. - Cash outflow from financing activities was ¥2,575,883, leading to a net cash outflow of ¥951,226 in this segment[27]. - The total cash inflow from investment activities was ¥22,240, while cash outflow was ¥191,707, resulting in a net cash outflow of ¥169,467[27]. - The company experienced a decrease in cash received from sales of goods and services, totaling ¥18,741,280 compared to ¥22,124,649 in the previous year[27]. - The cash flow from operating activities for the parent company was ¥1,875,445, compared to a net outflow of ¥995,148 in the previous year[29]. - The company’s total cash and cash equivalents increased by ¥825,986 during the quarter, compared to an increase of ¥42,459 in the same period last year[27]. - The company’s cash flow from financing activities showed a significant decrease, with cash received from borrowings dropping to ¥1,624,657 from ¥12,222,829 in the previous year[27]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 28,050,593, an increase of 0.10% compared to the end of the previous year[6]. - Total liabilities decreased to CNY 6,729,256 from CNY 7,886,271 at the beginning of the year, a reduction of 14.6%[20]. - Current assets increased to CNY 8,405,420 from CNY 8,143,980, reflecting a growth of 3.2%[20]. - Inventory levels decreased to CNY 3,676,366 from CNY 4,178,188, a decline of 12.0%[20]. - Long-term equity investments rose to CNY 3,626,103 from CNY 3,471,139, an increase of 4.5%[20]. - The company’s total shareholder equity increased to CNY 21,321,337 from CNY 20,135,900, a rise of 5.9%[20]. - Total assets as of March 31, 2016, were CNY 28,050,593, slightly up from CNY 28,022,171 at the beginning of the year[20]. Shareholder Information - The total number of shareholders reached 127,111 by the end of the reporting period[9]. - The largest shareholder, Sinopec Limited, holds 50.56% of the shares, totaling 5,460,000,000 shares[9]. - The company has committed to not reducing its holdings in the company’s stock for six months from July 13, 2015, to support the healthy development of the company[16]. Other Financial Metrics - The weighted average return on net assets increased by 5.295 percentage points to 5.609%[8]. - The company reported a total of CNY -8,609 in non-operating income and expenses for the period[8]. - The company reported a decrease in asset impairment losses to -RMB 11 thousand, a reduction of RMB 5,737 thousand or 100.19%, indicating a decrease in inventory impairment provisions[15]. - Investment income for Q1 2016 was RMB 163,525 thousand, an increase of RMB 81,872 thousand or 100.27% compared to the previous year, driven by profits from joint ventures[15]. - The company's financial expenses decreased to RMB 7,591 thousand, down by RMB 52,091 thousand or 87.28% year-on-year, due to reduced borrowing interest expenses[15]. - Accounts payable for employee compensation rose to RMB 134,155 thousand, an increase of RMB 94,156 thousand or 235.40%, reflecting higher accrued performance bonuses[14]. - Prepayments increased significantly to RMB 108,677 thousand, a rise of RMB 93,546 thousand or 618.24%, attributed to increased advance payments for procurement[13]. - Short-term borrowings decreased to RMB 1,134,657 thousand, down by RMB 935,343 thousand or 45.19%, as the company experienced reduced funding needs due to improved profitability[14].