2014-04-29 16:00Financial Performance - Net profit attributable to shareholders was CNY 520.62 million, a decrease of 27.64% year-on-year[5]. - Operating revenue for the period was CNY 10.76 billion, down 8.58% from CNY 11.77 billion in the same period last year[12]. - The company's total revenue for Q1 2014 was ¥10,762,187,142, a decrease of 8.57% compared to ¥11,771,790,055 in Q1 2013[38]. - The net profit for Q1 2014 was ¥583,590,918, down 36.76% from ¥920,598,144 in Q1 2013[38]. - Basic and diluted earnings per share were both CNY 0.024, a decrease of 27.27% from CNY 0.033[5]. - The gross profit margin for Q1 2014 was approximately 10.57%, down from 16.56% in Q1 2013[38]. - The weighted average return on equity decreased to 1.87%, down 0.65 percentage points from 2.52%[5]. Assets and Liabilities - The company reported total assets of CNY 68.72 billion at the end of the reporting period, an increase of 2.73% compared to the end of the previous year[5]. - The total liabilities rose to 35,227,568,397 RMB from 33,812,937,200 RMB, reflecting an increase of approximately 4.2%[30]. - The company's total assets increased to ¥35,451,799,036 from ¥34,087,967,065, reflecting a growth of 4.01%[34]. - Current assets rose to ¥14,890,261,320, an increase of 7.14% from ¥13,901,567,503 at the beginning of the year[34]. - The total liabilities increased to ¥11,614,740,871, up 7.36% from ¥10,815,865,946[34]. Cash Flow - The net cash flow from operating activities was CNY 605.11 million, representing a decline of 14.80% compared to CNY 710.25 million in the previous year[5]. - In Q1 2014, the net cash flow from operating activities was RMB 605,114,885, a decrease of 14.77% compared to RMB 710,247,226 in Q1 2013[44]. - Total cash inflow from operating activities was RMB 12,214,978,148, down 12.74% from RMB 14,000,219,171 in the same period last year[44]. - The net cash flow from investing activities decreased by 501,664,915 RMB, representing a 36.24% decline compared to the same period last year[25]. - The net cash flow from investing activities was -RMB 1,885,993,546, worsening from -RMB 1,384,328,631 in Q1 2013[44]. - The cash outflow for investing activities was RMB 2,680,200,929, an increase of 14.34% from RMB 2,344,257,679 in Q1 2013[44]. Shareholder Information - The total number of shareholders reached 851,993 by the end of the reporting period[9]. - The largest shareholder, Minxi Xinghang State-owned Assets Investment Management Co., Ltd., held 29.18% of the shares, totaling 6.32 billion shares[9]. - The company repurchased a total of 166,108,000 H shares for a total payment of 285,569,440 HKD from August 21, 2013, to February 7, 2014[26]. Operational Highlights - The sales volume of smelting and trading gold, cathode copper, and zinc increased by 10.92%, 33.39%, and 35.42% respectively, contributing to an increase in revenue by 1.48 billion yuan[14]. - The comprehensive gross margin for Q1 2014 was 13.90%, a decrease of 5.07 percentage points year-on-year, mainly due to a sharp decline in sales prices of key products[16]. - Management expenses for Q1 2014 were 521.06 million yuan, a decrease of 0.45% compared to 523.40 million yuan in Q1 2013, attributed to improved management and cost control[18]. - Financial expenses decreased by 56% to 12.74 million yuan in Q1 2014, down from 29.26 million yuan in Q1 2013, due to lower overall financing costs and increased investment income[19]. Investment and Subsidies - The company received government subsidies amounting to CNY 17.75 million during the reporting period[7]. - The investment income for Q1 2014 was 196.36 million yuan, a significant increase of 334.60% compared to 45.18 million yuan in Q1 2013[23]. - The company reported an increase in investment income from futures trading and equity investments in joint ventures[24].