2015-04-28 16:00Financial Performance - Operating revenue for the period was CNY 11.75 billion, a decrease of 13.90% year-on-year[5] - Net loss attributable to shareholders was CNY 595 million, an increase of 33.51% year-on-year[11] - The company reported a net loss attributable to shareholders of ¥595,419,114, a year-on-year increase in loss of 33.51%, mainly due to a further reduction in gross profit margin and increased management expenses[13] - Operating loss for Q1 2015 was ¥738.88 million, compared to a loss of ¥480.91 million in Q1 2014, reflecting a deterioration of 53.5%[24] - Net loss attributable to shareholders for Q1 2015 was ¥595.42 million, an increase of 33.5% from ¥445.98 million in Q1 2014[24] - The total comprehensive loss for Q1 2015 was ¥730.69 million, compared to a loss of ¥482.17 million in Q1 2014[27] - The company's operating revenue for Q1 2015 was CNY 10,609,229,008, a decrease of 9.05% compared to CNY 11,666,853,976 in Q1 2014[39] - The net loss for Q1 2015 was CNY 482,410,722, compared to a net loss of CNY 437,787,197 in Q1 2014, indicating a worsening of 10.16%[39] Assets and Liabilities - Total assets decreased by 0.76% to CNY 67.99 billion compared to the end of the previous year[5] - The company’s total liabilities amounted to ¥42,844,200,044, compared to ¥42,621,776,823 at the end of the previous year[20] - The total liabilities as of March 31, 2015, were CNY 36,117,173,595, a decrease of 1.71% from CNY 36,748,795,249 as of December 31, 2014[37] - The company’s total equity decreased to CNY 21,236,333,335 as of March 31, 2015, down 2.22% from CNY 21,718,744,057 at the end of 2014[37] - The company’s total liabilities to equity ratio as of March 31, 2015, was approximately 1.70, indicating a relatively high leverage position[37] Cash Flow - Cash inflow from operating activities was ¥2,300,177,640, compared to a cash outflow of ¥522,528,126 in the same period last year, mainly due to reduced cash outflow for purchasing goods[13] - Cash flow from operating activities for Q1 2015 was ¥2.30 billion, a significant improvement from a negative cash flow of ¥522.53 million in Q1 2014[29] - Cash and cash equivalents at the end of Q1 2015 were ¥3.06 billion, an increase from ¥2.46 billion at the end of Q1 2014[31] - Cash and cash equivalents at the end of Q1 2015 were CNY 2,565,160,622, a significant decrease from CNY 4,653,195,116 at the end of Q1 2014[44] - The company reported a total of CNY 1,046,005,111 in net cash outflow from investing activities in Q1 2015, compared to a net inflow of CNY 938,964,712 in Q1 2014[42] Production and Sales - The company produced 450,000 tons of crude steel, an increase of 7.49% year-on-year[11] - The domestic steel price index was 75.43 points at the end of March, down 20.46% year-on-year[10] - The company reported a decrease in sales revenue from goods and services received, totaling ¥13.69 billion in Q1 2015, down 12.1% from ¥15.57 billion in Q1 2014[29] - The company reported a significant increase in sales expenses, which rose by 43.07% year-on-year to ¥148,135,576, mainly due to increased external transportation costs and new sales expenses from the French subsidiary[13] Shareholder Information - The number of shareholders at the end of the reporting period was 323,319[8] - Basic and diluted earnings per share for Q1 2015 were both ¥(0.08), compared to ¥(0.06) in Q1 2014[27] Future Outlook - The company expects cumulative net profit for the year to the next reporting period to potentially be a loss, mainly due to significant losses in the first quarter and challenging conditions in the steel industry[14] - The company plans to enhance product quality and increase direct supply ratio to improve profitability[11] - The company aims to accelerate new product development to turn losses into profits[11]