2016-06-22 16:00Financial Performance - Operating revenue decreased by 8.35% to RMB 22,236,608,015.25 compared to the same period last year[8] - Net profits attributable to shareholders of listed companies increased by 48.12% to RMB 1,596,815,139.24[8] - Basic earnings per share rose by 48.02% to RMB 0.262[8] - Non-operating income increased by 270.99% compared to the corresponding period last year, mainly due to changes in accounting methods for the equity of Bank of Qingdao[19] - Total operating revenue for Q1 2016 was RMB 22,236,608,015.25, a decrease of 8.4% from RMB 24,261,632,769.81 in the prior year[49] - Total cost of operations decreased to RMB 20,962,096,500.03, down 8.2% from RMB 22,831,807,027.08[49] - Net profit attributable to owners of the parent company increased to RMB 1,596,815,139.24, up 48.1% from RMB 1,078,049,820.17[51] - Total comprehensive income for Q1 2016 was RMB 1,553,755,285.00, compared to RMB 1,308,206,343.35 in the prior year, an increase of 18.8%[53] Assets and Liabilities - Total assets increased by 1.41% to RMB 77,048,249,626.71 compared to the end of last year[6] - Net assets attributable to shareholders of listed companies rose by 4.64% to RMB 23,809,053,489.09[6] - Long-term equity investments increased by 36.31% compared to the beginning of the period, primarily due to changes in accounting methods for the equity of Bank of Qingdao[18] - Investment properties rose by 176.85% compared to the beginning of the period, mainly due to increased investments by subsidiaries[18] - Total liabilities decreased slightly to RMB 43.16 billion from RMB 43.52 billion, reflecting a reduction of about 0.8%[38] - Total liabilities rose to RMB 3,546,780,714.77, an increase of 1.4% from RMB 3,497,320,705.14[45] Cash Flow - Net cash flows from operating activities decreased by 43.35% to RMB 1,046,237,078.55[8] - Cash received from the sale of goods and rendering of services was RMB 23,378,413,688.69, a decrease of 11.3% compared to RMB 26,374,574,189.40 in the prior period[62] - Net cash flows from operating activities were RMB 1,046,237,078.55, down 43.3% from RMB 1,846,877,161.44 in the previous year[63] - Net cash flows from investing activities were negative at RMB -399,528,241.56, an improvement from RMB -2,775,208,652.40 in the previous year[64] - The balance of cash and cash equivalents at the end of the period was RMB 25,471,219,641.62, compared to RMB 30,617,713,776.88 at the end of the prior period[66] - The net increase in cash and cash equivalents for the period was RMB 746,633,940.86, compared to a decrease of RMB -522,347,792.82 in the prior period[66] Shareholder Information - Total number of shareholders reached 214,152 as of the end of the reporting period[12] - The company's owners' equity attributable to the parent company increased to RMB 23.81 billion, compared to RMB 22.75 billion, which is an increase of approximately 4.6%[38] Investments and Expenditures - Development expenditures increased by 33.76% compared to the beginning of the period, driven by the U+ Platform's development[18] - Cash paid on purchase of fixed assets and intangible assets was RMB 490,447,523.25, down from RMB 589,540,191.47, a decrease of 16.8%[64] - Cash received from borrowings amounted to RMB 1,805,507,042.76, down from RMB 2,210,721,801.25, a decrease of 18.3%[64] Strategic Initiatives - The company announced plans to acquire General Electric's household appliances business for a cash consideration of $5.4 billion, which has been approved by the Board and passed U.S. anti-trust review[20][21] - The company is focused on reducing connected transactions and solving horizontal competition issues as part of its strategic initiatives[29]