MCC(SH:601618)2014-04-29 16:00Financial Performance - Operating revenue for the first quarter was CNY 41,878,191, down 4.00% from CNY 43,623,759 in the same period last year[7] - Net profit attributable to shareholders was CNY 1,112,757, representing an increase of 6.62% compared to CNY 1,043,663 in the previous year[7] - Basic earnings per share increased to CNY 0.06, up 6.62% from CNY 0.05 in the same period last year[7] - Operating profit increased to CNY 1,569,862, up 10.9% from CNY 1,415,186 year-on-year[41] - The company’s total comprehensive income for the period was CNY 1,167,759, compared to CNY 1,098,691 in Q1 2013, reflecting a growth of 6.3%[41] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 8,632,561, compared to a net outflow of CNY 6,560,368 in the same period last year[7] - The company reported a net cash outflow from operating activities of CNY -8,632,561, worsening from CNY -6,560,368 in Q1 2013[45] - Operating cash inflow for Q1 2014 was CNY 702,940 thousand, a significant increase from CNY 92,138 thousand in the previous period, representing a growth of 663.5%[48] - Net cash flow from operating activities reached CNY 435,169 thousand, compared to a negative CNY 829,504 thousand in the same period last year[48] - Cash inflow from financing activities was CNY 9,564,067 thousand, significantly higher than CNY 2,710,929 thousand in the prior period, reflecting an increase of 253.5%[49] Assets and Liabilities - Total assets at the end of the reporting period were CNY 322,718,641, a decrease of 0.05% compared to the end of the previous year[7] - The total current assets as of March 31, 2014, amount to 238,102,991 thousand yuan, a slight decrease from 239,954,194 thousand yuan at the beginning of the year[36] - The total non-current assets as of March 31, 2014, are 84,615,650 thousand yuan, compared to 82,930,245 thousand yuan at the beginning of the year[36] - The total liabilities as of March 31, 2014, are 266,397,610 thousand yuan, down from 267,819,220 thousand yuan at the beginning of the year[37] - The total equity attributable to shareholders as of March 31, 2014, is 45,573,522 thousand yuan, an increase from 44,541,300 thousand yuan at the beginning of the year[37] Shareholder Information - The total number of shareholders at the end of the reporting period was 323,755, with 315,623 holding A shares and 8,132 holding H shares[12] - The largest shareholder, China Metallurgical Group Corporation, held 64.18% of the shares, totaling 12,265,108,500 shares[13] - The controlling shareholder, China Metallurgical Group, holds 12,265,108,500 shares, representing 64.18% of the total shares, and has committed to lock these shares for three years after the lock-up period ends on September 21, 2012[27] Investment and Contracts - The total new contracts signed in Q1 2014 amounted to RMB 73.58 billion, representing a 75.58% increase compared to the same period last year[18] - Investment income for the period was RMB 287.59 million, a significant increase of 2,133.35% year-on-year, primarily due to equity transfer gains from Nanjing Linjiang Company[21] - The company completed the sale of 60% equity in Nanjing Port Ning Real Estate Co., Ltd. for RMB 1.17 billion and 60% equity in Nanjing Longjiang Bay Real Estate Co., Ltd. for RMB 900 million[19] Asset Management - The company reported an asset impairment loss of RMB -793.48 million, a year-on-year increase of 1,493.65%, mainly due to the reversal of bad debt provisions[21] - The foreign currency translation difference was RMB -285.26 million, reflecting a 42.23% increase due to exchange rate fluctuations[21] - The company has committed to complete the processing of ownership certificates for properties and land use rights within 18 months following the public offering listing date[33] - As of the end of the first quarter, there are still 182 properties out of 324 that have not completed the ownership certificate process, totaling a building area of 653,547.95 square meters[31] - There are 204 plots of land with a total area of 4,363,756.56 square meters that are awaiting the issuance of state land use certificates, with 26 plots currently in the process of certificate replacement[32]