COSL(SH:601808)2015-04-29 16:00Financial Performance - The net profit attributable to shareholders was RMB 970.0 million, down 31.2% year-on-year [5]. - Operating revenue for the first quarter was RMB 6,297.9 million, representing a decline of 6.7% compared to the same period last year [11]. - The net cash flow from operating activities was RMB 956.8 million, a decrease of 14.9% year-on-year [5]. - Basic earnings per share were RMB 0.20, reflecting a decrease of 33.3% compared to the previous year [5]. - Operating profit decreased to RMB 1,165.5 million, down RMB 522.1 million or 30.9% year-over-year, primarily due to reduced revenue and increased financial expenses [20]. - The company's net profit for the first quarter of 2015 decreased by 30.6% compared to the same period last year, influenced by the downturn in the global oilfield services industry [30]. - The company anticipates a significant decline in net profit for the first half of 2015 compared to the same period last year due to decreased service prices and workload [30]. Assets and Liabilities - The total assets at the end of the reporting period were RMB 85,104.3 million, a decrease of 2.0% compared to the end of the previous year [5]. - Total liabilities as of March 31, 2015, were RMB 36,767.8 million, down from RMB 39,552.2 million at the beginning of the year [34]. - The company's cash and cash equivalents decreased from RMB 6,779.4 million at the beginning of the year to RMB 5,589.2 million as of March 31, 2015 [33]. - The company's total equity increased from RMB 47,322.1 million at the beginning of the year to RMB 48,336.5 million as of March 31, 2015 [34]. - The company reported a decrease in accounts payable from RMB 7,443.9 million at the beginning of the year to RMB 5,639.5 million as of March 31, 2015 [33]. Cash Flow - The net cash outflow from investing activities for the three months ended March 31, 2015, was RMB 1,695.5 million, a decrease of 63.5% year-on-year, primarily due to a reduction in subscriptions to non-fixed income money market fund products and bank wealth management products [26]. - The net cash outflow from financing activities for the three months ended March 31, 2015, was RMB 443.0 million, compared to a net cash inflow of RMB 4,125.2 million in the same period last year, mainly due to the absence of similar financing activities this period [27]. - The impact of exchange rate fluctuations increased cash by RMB 34.8 million [28]. - Cash flow from financing activities resulted in a net outflow of -CNY 343,162,021, contrasting sharply with a net inflow of CNY 4,225,199,930 in the previous year [46]. Operational Metrics - The company's drilling fleet operated for 3,358 days, an increase of 297 days or 9.7% year-over-year [12]. - The self-elevating drilling rigs operated for 2,565 days, up 378 days or 17.3% year-over-year, primarily due to new rigs entering service [13]. - The semi-submersible drilling rigs operated for 793 days, a decrease of 81 days or 9.3% year-over-year, attributed to increased repair and standby days [13]. - The available day utilization rate for the drilling fleet decreased by 8.3 percentage points to 90.3% year-over-year [14]. Expenses - The company's sales expenses for the first quarter were RMB 7.2 million, an increase of RMB 1.7 million or 30.9% year-over-year [17]. - Financial expenses increased to RMB 93.8 million, up RMB 21.9 million or 30.5% year-over-year, mainly due to increased foreign exchange losses [18]. - Asset impairment losses surged to RMB 60.1 million, a significant increase of RMB 58.5 million or 3,656.3% year-over-year, due to higher bad debt provisions [19]. Shareholder Information - The company reported a total of 106,939 shareholders at the end of the reporting period [9]. - The largest shareholder, China National Offshore Oil Corporation, held 50.52% of the shares [9].