FIRST TRACTOR(SH:601038)2015-04-29 16:00Financial Performance - Operating revenue for the first quarter of 2015 was CNY 2,987,316,063.13, a decrease of 3.15% compared to CNY 3,084,465,996.11 in the same period of 2014[9] - Net profit attributable to shareholders for the first quarter of 2015 was CNY 90,710,627.94, down 8.43% from CNY 99,066,916.54 in the first quarter of 2014[9] - The net profit after deducting non-recurring gains and losses was CNY 74,684,541.00, a decrease of 17.93% compared to CNY 91,003,961.04 in the same period last year[9] - Basic and diluted earnings per share for the first quarter of 2015 were both CNY 0.0911, down 8.44% from CNY 0.0995 in the same period of 2014[9] - Total revenue for Q1 2015 was CNY 3,067,134,061.92, a decrease of 1.3% compared to CNY 3,103,725,179.50 in the same period last year[30] - Operating income decreased to CNY 2,987,316,063.13 from CNY 3,084,465,996.11, reflecting a decline of 3.2% year-over-year[31] - Net profit attributable to shareholders was CNY 90,710,627.94, down 8.5% from CNY 99,066,916.54 in the previous year[31] - The company reported a gross profit margin of approximately 19.0% for Q1 2015, compared to 19.5% in Q1 2014[31] Assets and Liabilities - Total assets as of March 31, 2015, amounted to CNY 13,059,194,182.44, representing a 5.69% increase from CNY 12,355,694,645.67 at the end of 2014[9] - The company's current assets totaled ¥6,789,715,747.35, up from ¥6,197,145,429.82 at the start of the year, indicating a growth of approximately 9.5%[21] - The total liabilities of the company were reported at ¥7,653,551,677.32, compared to ¥7,034,867,745.49 at the beginning of the year, marking an increase of about 8.8%[23] - Total liabilities rose to CNY 5,732,717,269.30, up from CNY 5,076,956,466.57, indicating an increase of 12.9%[27] Cash Flow - The net cash flow from operating activities for the first quarter of 2015 was negative CNY 399,957,110.23, compared to negative CNY 377,157,131.69 in the same period of 2014[9] - The company reported a net cash outflow from operating activities of ¥399,957,110.23, compared to an outflow of ¥377,157,131.69 in the previous period[38] - The net cash flow from financing activities was -$56,287,029.06 for Q1 2015, compared to -$134,498,412.04 in the previous year[42] - The net increase in cash and cash equivalents was -$240,631,612.74, down from -$390,485,793.69 year-over-year[42] Shareholder Information - The total number of shareholders at the end of the reporting period and the shareholding status of the top ten shareholders were documented but not detailed in the report[11] - Total number of shareholders reached 31,258, with 30,865 being A shares and 393 H shares[12] - The top shareholder, China Yituo Group Co., Ltd., holds 443,910,000 shares, representing 44.57% of total shares[12] Investments and Other Financial Metrics - Interest income surged by 320.53% to 7,972,000 RMB, attributed to increased sales of discounted notes[15] - Long-term equity investments rose by 121.61% to 14,593,000 RMB, reflecting additional contributions to joint ventures[14] - The company reported a significant increase in inventory, with a total of ¥1,455,378,606.61, slightly up from ¥1,447,426,253.97[21] - The company’s financial assets measured at fair value increased by 36.26% to 48,286,000 RMB[14] Commitments and Corporate Governance - The company confirmed that the financial report was unaudited, ensuring the accuracy and completeness of the information provided[8] - The company has committed to not engaging in direct competition with its controlling shareholder, China Yituo[16] - The company has pledged not to engage in direct or indirect competition with its controlling entities to avoid unfair impacts on its business operations[21] - The company has committed to transferring 50 patent applications related to its products to the parent company upon completion, enhancing its asset integrity[21]