2014-04-29 16:00Financial Performance - Operating revenue for the first quarter was CNY 15.72 billion, down 7.39% year-on-year[12] - Net profit attributable to shareholders was CNY 669.78 million, an increase of 0.76% compared to the same period last year[12] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 604.65 million, up 8.59% year-on-year[12] - Basic and diluted earnings per share were both CNY 0.0522, an increase of 0.77% compared to the previous year[12] - Total operating revenue for Q1 2014 was CNY 15,724,745, a decrease of 7.4% compared to CNY 16,980,212 in the same period last year[34] - Net profit attributable to shareholders for Q1 2014 was CNY 669,784, slightly up from CNY 664,716 in Q1 2013, representing a growth of 0.1%[35] - Earnings per share for Q1 2014 was CNY 0.0522, compared to CNY 0.0518 in the previous year, reflecting a 0.8% increase[35] Cash Flow and Investments - Cash flow from operating activities for the period was -CNY 2.70 billion, an improvement from -CNY 3.79 billion in the same period last year[12] - Cash inflow from investment activities totaled 753,402 thousand RMB, down from 1,014,879 thousand RMB in the previous period[43] - Cash outflow for investment activities was 899,265 thousand RMB, compared to 417,787 thousand RMB in the previous period, indicating a significant increase in investment spending[43] - Net cash outflow from operating activities was -281,823 thousand RMB, worsening from -175,804 thousand RMB in the previous period[42] - Operating cash inflow for the period was 4,601,263 thousand RMB, compared to 4,191,700 thousand RMB in the previous period, reflecting an increase of approximately 9.8%[42] Assets and Liabilities - Total assets at the end of the reporting period were CNY 128.53 billion, a decrease of 0.59% compared to the end of the previous year[12] - The company's current assets totaled CNY 100,556,747 thousand, down from CNY 101,427,295 thousand at the start of the year, indicating a decrease of approximately 0.86%[26] - The total liabilities of the company were CNY 84,841,077 thousand, compared to CNY 86,584,146 thousand at the beginning of the year, reflecting a decrease of about 2.02%[28] - Total liabilities decreased to CNY 42,377,332 from CNY 42,780,278 at the beginning of the year, indicating a reduction of 0.9%[31] - Total assets as of March 31, 2014, were CNY 68,191,485, a slight increase from CNY 68,154,947 at the beginning of the year[30] Shareholder Information - The total number of shareholders was 131,571 at the end of the reporting period[16] - The largest shareholder, Shanghai Electric (Group) Corporation, held 57.75% of the shares[16] - Shanghai Electric (Group) Corporation's subsidiary held 3.1184 million H shares, accounting for 0.24% of the total issued shares[19] - Shanghai Electric Group's equity attributable to shareholders reached CNY 32,808,070 thousand, an increase from CNY 32,205,954 thousand, reflecting a growth of approximately 1.86%[28] Inventory and Receivables - Accounts receivable amounted to CNY 25,104,700 thousand, slightly down from CNY 25,268,380 thousand, indicating a decrease of about 0.65%[26] - Inventory increased to CNY 24,593,067 thousand from CNY 22,150,517 thousand, marking an increase of approximately 11.03%[26] - Inventory as of March 31, 2014, was CNY 241,197, down from CNY 257,503 at the beginning of the year, a decrease of 6.3%[30] Regulatory and Operational Matters - The company has committed to ensuring that its controlling shareholder avoids any competition with the company, maintaining operational independence[23] - The company has undertaken measures to assist in resolving property rights issues related to its subsidiaries, ensuring compliance with regulatory requirements[23] - The company's net profit for the period is projected to be significantly impacted, with a warning of potential losses compared to the previous year[23] Cash and Financing Activities - Total cash and cash equivalents at the end of the period were 9,526,271 thousand RMB, up from 8,096,134 thousand RMB in the previous period[44] - Cash inflow from borrowing was 296,128 thousand RMB, compared to 139,777 thousand RMB in the previous period, indicating increased reliance on debt financing[40] - Cash outflow for debt repayment was 1,850,000 thousand RMB, reflecting a significant commitment to servicing existing debt[43] - The company received 50,497 thousand RMB in tax refunds, down from 261,632 thousand RMB in the previous period, indicating a decrease in tax recovery[42] - The impact of exchange rate changes on cash and cash equivalents was 22,699 thousand RMB, compared to -3,820 thousand RMB in the previous period, showing a positive effect from currency fluctuations[44]