ZHUYE GP(SH:600961)2017-04-28 16:00Financial Performance - Operating revenue rose by 29.80% to CNY 3,301,961,154.93 year-on-year[6] - Net profit attributable to shareholders decreased by 47.92% to CNY 2,790,871.15 compared to the same period last year[6] - Total operating revenue for Q1 2017 was CNY 3,301,961,154.93, an increase of 29.5% compared to CNY 2,543,893,712.92 in the same period last year[28] - Net profit for Q1 2017 was CNY 2,765,988.61, a decrease of 48.6% from CNY 5,359,188.38 in the previous year[29] - The company reported a gross profit margin of approximately 0.07% for Q1 2017, down from 0.28% in the same period last year[28] - The company recorded an operating loss of CNY 4,588,617.75 for Q1 2017, compared to a loss of CNY 943,898.36 in the previous year[28] - Basic and diluted earnings per share for Q1 2017 were both CNY 0.005, down from CNY 0.01 in the same period last year[29] Assets and Liabilities - Total assets increased by 7.58% to CNY 6,346,845,622.63 compared to the end of the previous year[6] - Total assets reached ¥6,346,845,622.63, compared to ¥5,899,817,805.09 at the beginning of the year, showing an increase of approximately 7.6%[21] - The company's total liabilities amounted to ¥6,186,072,613.88, up from ¥5,741,884,566.08, which is an increase of about 7.7%[20] - Current liabilities totaled ¥4,810,758,126.80, up from ¥4,457,287,669.50, indicating an increase of about 7.9%[20] - The total liabilities as of the end of Q1 2017 amounted to CNY 5,983,461,010.55, compared to CNY 5,790,299,196.57 at the end of the previous year, indicating a 3.3% increase[28] Cash Flow - The company's cash and cash equivalents increased to ¥692,809,436.33 from ¥608,778,825.05, representing a growth of approximately 19.9%[19] - Cash inflow from sales of goods and services increased to ¥3,736,398,343.75 from ¥3,062,892,520.73, representing a growth of approximately 22%[33] - Net cash flow from operating activities was negative at -¥38,071,995.62, an improvement from -¥118,773,883.72 in the previous period[33] - Cash inflow from investment activities decreased significantly, with net cash flow at -¥13,823,898.07 compared to ¥80,453,078.03 previously[34] - Cash inflow from financing activities was ¥1,202,608,087.21, slightly down from ¥1,247,521,645.14 in the prior period[34] - The net increase in cash and cash equivalents was ¥84,030,611.28, down from ¥122,733,576.58 in the previous period[34] - Total cash and cash equivalents at the end of the period reached ¥692,809,436.33, compared to ¥286,362,149.08 at the end of the previous period[34] Receivables and Payables - Accounts receivable increased by 191.22% to CNY 190,341,500.00, primarily due to increased receivables from downstream customers[13] - Accounts receivable rose significantly to ¥190,341,545.50 from ¥65,359,023.52, marking an increase of about 191.5%[19] - Accounts payable increased by 55.47% to CNY 601,726,900.00, primarily due to increased payables for raw materials[13] - Prepayments increased by 68.32% to CNY 258,104,500.00, mainly due to an increase in unbilled payments[13] Tax and Other Expenses - Tax expenses increased by 231.81% to CNY 2,428,600.00, mainly due to increased profits from subsidiaries[14] - Non-operating income increased by 39.08% to CNY 9,783,900.00, primarily due to increased VAT refunds[14] - Asset impairment losses increased by 120.20% to CNY 24,571,300.00, mainly due to a decline in lead product prices[14] - Cash paid for taxes rose to ¥44,260,610.55 from ¥21,881,159.59, indicating an increase of about 102%[33] Strategic Initiatives - The company has not fulfilled its commitment to eliminate competition issues with Zhuzhou Smelter Group, as conditions for execution were not met[16] - The company reported a potential significant change in cumulative net profit compared to the previous year, but specifics were not applicable[16] - The company is actively working on resolving competition issues through asset sales or closures as per commitments made in 2014[16] - The company plans to focus on improving operational efficiency and exploring new market opportunities to enhance future performance[32]