CMES(SH:601872)2017-04-25 16:00Financial Performance - Operating revenue for the first quarter was CNY 1.76 billion, representing a growth of 6.41% year-on-year[6]. - Net profit attributable to shareholders decreased by 27.99% to CNY 302.31 million compared to the same period last year[6]. - Basic earnings per share decreased by 25% to CNY 0.06 compared to the same period last year[6]. - The total profit for the period was RMB 528 million, a decrease of 25.02% compared to the previous year[19]. - Net profit for the quarter was RMB 523 million, down 25.53% year-on-year, with attributable net profit to the parent company at RMB 302 million, a decrease of 27.99%[19]. - Total operating revenue for Q1 2017 was CNY 1,760,484,406.16, an increase of 6.4% compared to CNY 1,654,428,076.74 in the same period last year[28]. - Net profit for Q1 2017 was CNY 523,260,798.20, a decrease of 25.6% from CNY 702,644,324.74 in Q1 2016[29]. - The net profit attributable to the parent company was CNY 302,308,151.97, down 28% from CNY 419,838,303.75 in the previous year[29]. - The total comprehensive income for Q1 2017 was CNY 423,781,523.08, down from CNY 605,995,212.89 in Q1 2016[29]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 39.12 billion, an increase of 1.31% compared to the end of the previous year[6]. - Current liabilities rose to CNY 4,241,097,921.65 compared to CNY 4,030,768,737.45, an increase of 5.22%[24]. - Short-term borrowings increased to CNY 2,289,930,000.00 from CNY 1,946,850,000.00, representing a growth of 17.55%[24]. - Non-current assets totaled CNY 30,765,670,954.19, up from CNY 30,203,981,050.86, indicating a growth of 1.87%[25]. - Total liabilities amounted to CNY 17,726,854,531.64, slightly up from CNY 17,644,899,946.24, a change of 0.46%[24]. - Owner's equity increased to CNY 21,395,503,734.07 from CNY 20,971,722,210.99, reflecting a growth of 2.02%[25]. - The total current assets were CNY 8,356,687,311.52, down from CNY 8,412,641,106.37, a decrease of 0.67%[23]. - Long-term borrowings were reported at CNY 13,434,237,144.42, a slight decrease from CNY 13,562,206,924.90, indicating a reduction of 0.94%[24]. Cash Flow - Cash flow from operating activities netted CNY 1.20 billion, up 3.44% from the previous year[6]. - Cash flow from operating activities was CNY 1,197,333,127.49, an increase from CNY 1,157,551,991.37 in Q1 2016[33]. - The company reported a cash inflow from operating activities of ¥485,689,378.46, a substantial increase from ¥18,707,707.42 in the previous period[36]. - Financing activities generated a net cash flow of ¥35,813,436.15, compared to a net outflow of ¥49,018,885.00 in the previous period[34]. - The total cash and cash equivalents at the end of the period reached ¥506,441,800.70, up from ¥72,741,169.60 in the previous period[37]. - Cash inflow from borrowing amounted to ¥1,103,153,220.00, while cash outflow for debt repayment was ¥996,178,918.79[34]. - The company reported a significant increase in management expenses, which rose to CNY 54,344,432.63 from CNY 41,786,376.07 in the previous year[28]. Investments and Expenses - Investment income rose by 45% year-on-year to RMB 40.14 million, driven by returns from bank financial products and joint venture investments[4]. - Financial expenses increased by 70% year-on-year to RMB 64 million, attributed to increased bank borrowings and rising interest rates[4]. - The company reported a decrease in other comprehensive income, moving from CNY -319,571,989.23 to CNY -392,287,753.10[24]. - The company plans to continue adjusting its operational strategy in response to market changes, maintaining confidence in future performance[18]. Operational Metrics - The VLCC fleet generated operating revenue of RMB 1.48 billion, contributing a net profit of RMB 224 million to the parent company[19]. - The BDI index averaged 945 points in Q1, a significant increase of 164% year-on-year, indicating a recovery in the dry bulk shipping market[18]. - The company received two new VLCC vessels in February 2017, bringing the total operational VLCC fleet to 41 vessels with 12 on order[1]. - The company reported a 50% decrease in advance receipts, totaling RMB 30.18 million, primarily due to the expiration of charter contracts[4]. - Total operating costs rose to CNY 1,272,479,787.58, up 30% from CNY 977,848,775.01 in Q1 2016[28].