SUMEC(SH:600710)2015-04-29 16:00Financial Performance - Operating revenue for the period was CNY 226,496,122.01, representing a decline of 17.38% year-on-year[6]. - Net profit attributable to shareholders was a loss of CNY 65,829,383.18, compared to a loss of CNY 39,131,780.13 in the same period last year[6]. - The weighted average return on net assets was -3.97%, down from -2.11% in the previous year[6]. - Total revenue for Q1 2015 was ¥226,496,122.01, a decrease of 17.4% compared to ¥274,156,099.87 in the same period last year[27]. - Net loss for Q1 2015 was ¥66,523,153.02, compared to a net loss of ¥39,654,398.72 in Q1 2014, representing an increase in loss of 67.9%[28]. - Operating profit for Q1 2015 was -¥69,469,913.50, worsening from -¥55,772,338.47 in the previous year[28]. - The total comprehensive income for the first quarter of 2015 was -63,026,924.06 RMB, compared to -37,223,237.91 RMB in the same period last year[32]. - Basic earnings per share for Q1 2015 were -¥0.10, compared to -¥0.06 in the same period last year[29]. - The company reported an investment loss of ¥22,555,257.54 in Q1 2015, compared to a loss of ¥8,284,416.43 in Q1 2014[28]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,619,341,446.85, a 0.59% increase from the previous year-end[6]. - The company's total assets increased to ¥2,539,508,717.48 in Q1 2015, up from ¥2,505,545,689.55 in Q1 2014[25]. - The company's current assets totaled CNY 1,474,177,916.80, up from CNY 1,426,066,422.46 at the start of the year, indicating a growth of approximately 3.4%[19]. - Total liabilities increased to CNY 958,585,025.10 from CNY 876,431,786.96, reflecting a growth of approximately 9.4%[21]. - Current liabilities rose to ¥891,017,254.51, an increase of 19.9% from ¥742,938,033.50 year-over-year[25]. Equity - Net assets attributable to shareholders decreased by 3.90% to CNY 1,624,882,885.25 compared to the previous year-end[6]. - The company's equity attributable to shareholders decreased to CNY 1,624,882,885.25 from CNY 1,690,763,519.69, indicating a decline of about 3.9%[21]. - The company's total equity decreased to ¥1,626,166,504.79 from ¥1,689,059,260.37, reflecting a decline of 3.7%[25]. Cash Flow - Cash flow from operating activities showed a net outflow of CNY 62,249,720.93, an improvement from a net outflow of CNY 94,620,078.11 in the previous year[11]. - Cash inflow from operating activities was 152,017,940.65 RMB, an increase from 123,036,260.64 RMB year-over-year[35]. - Cash outflow from operating activities totaled 214,267,661.58 RMB, slightly down from 217,656,338.75 RMB in the previous year[36]. - The net cash flow from operating activities was -62,249,720.93 RMB, improving from -94,620,078.11 RMB in the same quarter last year[36]. - Cash inflow from investing activities was 11,500,000.00 RMB, up from 4,000,000.00 RMB year-over-year[36]. - The net cash flow from investing activities was 9,661,117.63 RMB, a significant improvement from -30,303,528.91 RMB in the previous year[36]. - Cash inflow from financing activities was 105,400,000.04 RMB, down from 135,000,000.00 RMB in the same period last year[39]. - The net cash flow from financing activities was 14,911,414.16 RMB, a decrease from 64,832,083.36 RMB year-over-year[37]. - The ending cash and cash equivalents balance was 210,536,292.50 RMB, compared to 229,972,128.71 RMB at the end of the previous year[37]. Inventory and Receivables - Accounts receivable increased by 5.43% to CNY 719,645,934.30 due to credit sales[11]. - Inventory rose by 13.10% to CNY 382,403,152.52 as stock reserves increased[11]. - Accounts receivable increased to CNY 719,645,934.30 from CNY 682,595,469.30, showing a rise of approximately 5.4%[19]. - Inventory levels rose to CNY 382,403,152.52 from CNY 338,111,851.29, marking an increase of about 13.1%[19]. - The company reported a significant increase of 215.03% in notes receivable, totaling CNY 22,499,447.17, as customers opted for bank acceptance bills for payments[11]. Strategic Actions - The company is actively negotiating with Modern Jiangsu to protect its rights and interests following a significant loss reported by the joint venture[12]. - The company has committed to avoiding competition with its controlling shareholder, ensuring compliance with commitments made in previous years[15]. - There were no significant changes or warnings regarding potential losses in net profit compared to the previous year[16].