BNMC(SH:601011)2015-04-29 16:00Financial Performance - Operating revenue decreased by 12.47% to CNY 356,004,151.95 compared to the same period last year[7] - Net profit attributable to shareholders was a loss of CNY 19,464,887.68, a decrease of 180.08% compared to the same period last year[7] - Basic earnings per share decreased by 166.67% to CNY -0.04 per share compared to the same period last year[7] - Net cash flow from operating activities decreased by 17.27% to CNY 63,292,542.15 compared to the same period last year[7] - The weighted average return on equity decreased by 1.32 percentage points to -0.46%[7] - Operating revenue decreased by 12.47% year-on-year, mainly due to a decline in product prices[15] - Net profit attributable to the parent company decreased by 180.08% year-on-year, mainly due to lower sales revenue from declining product prices[17] - Net cash flow from operating activities decreased by 17.27% year-on-year, primarily due to reduced sales revenue[17] - Total operating revenue for Q1 2015 was CNY 356,004,151.95, a decrease of 12.5% compared to CNY 406,706,801.08 in the same period last year[29] - Net profit for Q1 2015 was CNY 8.70 million, down 54.5% from CNY 19.15 million in Q1 2014[32] - Operating profit for Q1 2015 was CNY 9.18 million, a decline of 55.5% from CNY 20.57 million in the previous year[32] - Total profit for Q1 2015 was CNY 12.63 million, down 48.7% from CNY 24.64 million in Q1 2014[32] Assets and Liabilities - Total assets increased by 22.99% to CNY 6,969,667,430.40 compared to the end of the previous year[7] - Current liabilities totaled CNY 1,576,361,775.33, a marginal increase from CNY 1,567,722,297.88 in the previous year[24] - The total liabilities amounted to CNY 2,687,153,604.67, compared to CNY 2,681,946,326.47, indicating a slight increase[24] - Shareholders' equity rose to CNY 4,282,513,825.73 from CNY 2,985,076,182.03, reflecting a growth of 43.4%[24] - Cash and cash equivalents increased significantly to CNY 472,979,286.05 from CNY 11,096,464.43, marking a substantial rise[25] - The company’s capital reserve increased by 65.10% due to the stock issuance, reflecting an increase in share premium[15] Shareholder Information - The total number of shareholders reached 23,438 at the end of the reporting period[11] - The largest shareholder, Heilongjiang Baotailong Coal Chemical Group, holds 36.08% of the shares[11] Cash Flow and Investments - The net cash flow from operating activities for Q1 2015 was CNY 63.29 million, a decrease of 17.3% compared to CNY 76.50 million in Q1 2014[33] - Total cash inflow from investment activities was ¥350,367,163.95, while cash outflow was ¥1,243,481,566.24, resulting in a net cash flow of -¥893,114,402.29[36] - The company raised ¥1,323,952,000.00 through financing activities, leading to a net cash flow of ¥1,307,322,754.92 after accounting for cash outflows[36] - The ending balance of cash and cash equivalents increased to ¥472,979,286.05, up from ¥44,307,359.21 in the previous year[36] - The total cash and cash equivalents increased by ¥461,882,821.62 during the quarter, compared to an increase of ¥10,237,136.23 in the same period last year[36] Inventory and Receivables - Accounts receivable increased by 22.56% compared to the beginning of the year, attributed to extended repayment terms for customers due to a sluggish market[14] - Inventory decreased by 12.18%, primarily due to a reduction in raw coal inventory[15] - Inventory decreased to CNY 644,837,855.76 from CNY 734,921,898.02, a decline of 12.2%[25] Expenses - Sales expenses increased by 2851.90% year-on-year, primarily due to increased freight costs associated with a new sales settlement method[16] - Financial expenses for Q1 2015 were CNY 29.86 million, down 8.3% from CNY 32.59 million in the same period last year[32] - The company reported a decrease in management expenses to CNY 15.45 million, slightly down from CNY 15.46 million in the previous year[32] - The company recorded a significant increase in asset impairment losses, totaling CNY 2.07 million, compared to CNY 4.19 million in Q1 2014[32] Future Outlook - The company plans to focus on expanding its market presence and enhancing product development in the upcoming quarters[29]