2014-04-29 16:00Financial Performance - Operating revenue for the first quarter was CNY 35,241,718,000, representing a 3.01% increase year-on-year[9] - Net loss attributable to shareholders was CNY 2,156,527,000, compared to a net loss of CNY 975,040,000 in the same period last year[9] - Total operating revenue for Q1 2014 was CNY 35,241,718 thousand, an increase from CNY 34,213,296 thousand in the same period last year, representing a growth of 3.0%[27] - The net loss for Q1 2014 was CNY 2,233,538 thousand, compared to a net loss of CNY 918,843 thousand in Q1 2013, reflecting a significant increase in losses[27] - The company reported a total comprehensive loss of CNY 2,180,416 thousand for Q1 2014, compared to a comprehensive loss of CNY 963,080 thousand in the same quarter of the previous year[27] Assets and Liabilities - Total assets increased by 4.13% to CNY 207,744,876,000 compared to the end of the previous year[9] - The company's current assets increased to CNY 71,208,541 thousand from CNY 63,065,421 thousand, reflecting a growth of approximately 18%[21] - The total liabilities increased to CNY 156,105,896 thousand from CNY 145,804,935 thousand, indicating a rise of approximately 7.5%[22] - The company's total liabilities as of the end of Q1 2014 amounted to CNY 89,972,226 thousand, an increase from CNY 82,352,574 thousand year-over-year, showing a rise of 9.8%[27] - The company's total equity decreased to CNY 35,146,214 thousand in Q1 2014 from CNY 36,869,092 thousand in the previous year, a decline of 4.7%[27] Cash Flow - Cash flow from operating activities turned positive at CNY 154,942,000, a significant improvement from a net outflow of CNY 1,091,020,000 in the previous year[9] - Cash flow from operating activities generated a net cash inflow of CNY 154,942 thousand in Q1 2014, a recovery from a net outflow of CNY 1,091,020 thousand in the same period last year[31] - The total cash inflow from financing activities was 20,916,000 thousand RMB, an increase from 14,265,400 thousand RMB year-over-year, driven by higher borrowings and bond issuances[36] - The company experienced a net cash outflow from investment activities of -188,653 thousand RMB, significantly improved from -5,786,042 thousand RMB in the previous year, reflecting reduced capital expenditures[35] - The net increase in cash and cash equivalents for the period was 4,894,640 thousand RMB, a significant recovery from a decrease of -660,847 thousand RMB in the previous year[36] Inventory and Receivables - The company reported a 21% increase in asset impairment losses, primarily due to increased inventory write-downs[14] - Accounts receivable rose by 42%, reflecting increased sales volume[14] - The company's inventory decreased slightly to CNY 23,030,339 thousand from CNY 23,535,948 thousand, a reduction of about 2.1%[21] Market Conditions and Future Outlook - The company expects to incur losses due to severe oversupply in electrolytic aluminum capacity and continued low market prices, with further details to be disclosed in the mid-year performance report[19] - The company's net profit is expected to show significant changes compared to the same period last year, with a warning of potential losses[19] Financing Activities - The company issued bonds worth 14,000,000 thousand RMB in Q1 2014, compared to 6,000,000 thousand RMB in the same period last year, indicating a strategy to leverage debt financing[36] - The company's cash flow from financing activities showed a net increase of 7,348,673 thousand RMB, up from 6,611,459 thousand RMB year-over-year, reflecting stronger financing capabilities[36]