中煤能源(601898) - 2014 Q1 - 季度财报

Financial Performance - Net profit attributable to shareholders decreased by 67.5% to CNY 538,160,000, down from CNY 1,655,255,000 in the same period last year[8] - Operating revenue fell by 16.2% to CNY 16,858,658,000, compared to CNY 20,125,066,000 in the first quarter of the previous year[8] - Operating profit decreased by 63.8% year-on-year, from 2,601,751 thousand yuan to 941,623 thousand yuan[20] - Net profit fell by 64.9% year-on-year, from 1,989,576 thousand yuan to 698,694 thousand yuan[20] - Total profit decreased by 63.5% year-on-year, from 2,596,139 thousand yuan to 947,645 thousand yuan[20] - Basic earnings per share dropped by 66.7% to CNY 0.12, compared to CNY 0.04 in the same period last year[8] - Net profit for Q1 2014 was 698,694 thousand yuan, a decline of 64.9% compared to 1,989,576 thousand yuan in Q1 2013[44] Cash Flow - The net cash flow from operating activities was negative CNY 4,086,601,000, a decrease of 469.3% compared to a positive CNY 1,106,640,000 in the same period last year[8] - Cash flow from operating activities for Q1 2014 was -4,086,601 thousand yuan, compared to a positive cash flow of 1,106,640 thousand yuan in Q1 2013[51] - The net cash flow from operating activities for Q1 2014 was -3,572,441 thousand RMB, a significant decrease compared to 90,290 thousand RMB in the same period last year[54] - Total cash inflow from financing activities was 7,442,604 thousand RMB, up from 4,681,825 thousand RMB year-over-year[52] - The net cash flow from financing activities was 5,003,570 thousand RMB, an increase from 3,443,187 thousand RMB in the previous year[52] - The cash flow from investment activities showed a net outflow of -1,178,144 thousand RMB, compared to -438,652 thousand RMB in the same period last year[54] Assets and Liabilities - Total assets at the end of the reporting period increased by 2.1% to CNY 219,404,730,000 compared to the end of the previous year[8] - The company's total liabilities increased from CNY 112,271,381,000 to CNY 115,575,603,000, suggesting a growing debt burden[38] - The company's current liabilities decreased from CNY 43,497,865,000 to CNY 41,155,653,000 during the same period[37] - The long-term borrowings increased from CNY 29,774,758,000 to CNY 35,448,838,000, indicating a rise in financial leverage[38] - Cash and cash equivalents decreased from CNY 21,021,007,000 to CNY 19,132,913,000, reflecting a reduction in liquidity[35] - The total liabilities as of the end of Q1 2014 were 57,227,595 thousand yuan, slightly down from 57,467,938 thousand yuan at the end of the previous quarter[44] Sales and Production - The production of commercial coal increased by 1.1% to 2,999,000 tons, compared to 2,966,000 tons in the first quarter of 2013[11] - The sales volume of commercial coal decreased by 9.4% to 3,332,000 tons, down from 3,678,000 tons in the same period last year[11] - In Q1 2014, the total coal sales volume was 2,670,000 tons, a decrease of 115,000 tons or 4.1% compared to Q1 2013, with an average selling price of 401 RMB/ton, down 10.5% from 448 RMB/ton[23] - The sales volume of thermal coal was 2,525,000 tons, down 136,000 tons or 4.1% year-on-year, with a selling price of 384 RMB/ton, a decrease of 9.6% from 425 RMB/ton[23] Costs and Expenses - Total operating costs for Q1 2014 were 15,935,349 thousand yuan, down 9.1% from 17,547,986 thousand yuan year-on-year[44] - Financial expenses surged by 764.4% year-on-year, reaching 387,009 thousand yuan[20] - The company has implemented cost-saving measures, resulting in a significant reduction in other costs by 13.89 RMB/ton[28] - The unit sales cost of self-produced coal was 202.91 RMB/ton, a reduction of 13.24 RMB/ton or 6.1% compared to the same period last year, and down 17.92 RMB/ton or 8.1% from the full year 2013[27] Shareholder Information - Total number of shareholders reached 280,036[18] - The largest shareholder, China Coal Energy Group, holds 57.36% of shares, totaling 7,605,207,608 shares[18] - As of March 4, 2014, a shareholder held 5% of the voting rights in the company, which does not affect the control of the company[31] Future Outlook - The company plans to continue its focus on coal production and explore opportunities for market expansion despite the current financial challenges[15] - The company anticipates a decline in cumulative net profit for 2014 compared to the previous year due to the ongoing low coal prices and changes in market supply and demand[33]