2015-04-28 16:00Financial Performance - Operating revenue fell by 38.6% to CNY 11,135,608 thousand year-on-year[7] - Net profit attributable to shareholders was CNY -398,768 thousand, a decrease of 241.7% compared to the previous year[7] - Basic and diluted earnings per share were both CNY -0.028, a decline of 264.7% year-on-year[7] - Revenue for Q1 2015 was RMB 11,135,608, a decrease of 38.6% compared to RMB 18,140,519 in Q1 2014, primarily due to a decline in oil service business workload and the divestment of the chemical fiber business[15] - The net profit for Q1 2015 was -368,775 thousand RMB, a significant decline from a net profit of 258,964 thousand RMB in Q1 2014[28] - The company reported a gross loss of 352,544 thousand RMB in Q1 2015, compared to a gross profit of 287,803 thousand RMB in the same quarter of the previous year[28] - The total comprehensive income for Q1 2015 was a loss of CNY 327,861, consistent with the net profit loss[31] Cash Flow and Liquidity - Cash flow from operating activities improved to CNY -1,879,255 thousand, compared to CNY -4,505,338 thousand in the same period last year[7] - Cash and cash equivalents increased by 142.1% to CNY 2,938,250 thousand compared to the end of the previous year[14] - The company reported a cash and cash equivalents balance of CNY 2,938,251 at the end of Q1 2015, up from CNY 1,582,703 in the previous period[34] - Cash inflow from financing activities was CNY 22,998,170, slightly lower than CNY 25,328,284 in the previous period[34] - The cash outflow for operating activities totaled CNY 18,697,215, down from CNY 28,633,964 in the previous period[33] Assets and Liabilities - Total assets decreased by 6.7% to CNY 75,881,038 thousand compared to the end of the previous year[7] - The total liabilities as of March 31, 2015, amounted to 51,532,262 thousand RMB, down from 62,599,570 thousand RMB at the beginning of the year, indicating a reduction of approximately 17.5%[24] - The company’s total assets as of March 31, 2015, were 75,881,038 thousand RMB, down from 81,295,708 thousand RMB at the beginning of the year, reflecting a decrease of approximately 6.9%[23] - The company’s short-term borrowings decreased to RMB 9,622,287 from RMB 11,889,709, reflecting a reduction in borrowing scale[21] Shareholder Information - The total number of shareholders was 38,317, with the largest shareholder holding 65.22% of the shares[12] - The company reported a significant increase in net assets attributable to shareholders by 30.2% to CNY 24,349,809 thousand[7] - The total equity attributable to shareholders of the parent company increased to 24,349,809 thousand RMB from 18,697,120 thousand RMB, marking an increase of about 30.2%[23] Cost Management - Operating costs decreased by 36.5% to RMB 10,426,926 from RMB 16,410,241, attributed to reduced workload in oil services and stringent cost control measures[15] - Financial expenses decreased by 41.3% to RMB 157,766 from RMB 268,620, primarily due to a reduction in borrowing scale during the period[15] - The company’s management reported a focus on cost control and efficiency improvements in response to the declining revenue trends observed in Q1 2015[28] Other Income - Non-operating income totaled CNY 30,044 thousand, primarily from government subsidies and asset disposals[10] - The company recorded a significant increase in other income, with operating income from asset disposals rising by 108.2% to RMB 47,636 from RMB 22,880[15] - The company received CNY 5,954,000 from investment activities, indicating a significant inflow compared to the previous period[37]