CSICL(SH:601989)2015-04-29 16:00Financial Performance - Net profit attributable to shareholders was CNY 385.39 million, down 47.39% year-on-year[5]. - Operating revenue for the period was CNY 8.99 billion, representing a decline of 4.22% compared to the same period last year[5]. - Total profit for the period was RMB 42,429.67 million, representing a significant decline of 47.61% from RMB 80,995.74 million in the previous year[15]. - The net profit attributable to the parent company was RMB 38,539.36 million, down 47.39% from RMB 73,250.09 million in Q1 2014[15]. - Basic earnings per share were CNY 0.021, down 52.27% year-on-year[7]. - The company's basic earnings per share for Q1 2015 were RMB 0.021, a decrease of 52.27% from RMB 0.044 in Q1 2014[16]. - Net profit for Q1 2015 was CNY 347,548,238.04, down 48.6% from CNY 675,263,524.92 in Q1 2014[36]. - The profit attributable to the parent company's shareholders was CNY 385,393,587.13, a decrease of 47.4% compared to CNY 732,500,879.74 in the previous year[36]. Assets and Liabilities - Total assets at the end of the reporting period were approximately CNY 206.16 billion, a decrease of 0.17% compared to the end of the previous year[5]. - The total assets as of March 31, 2015, were RMB 20,615,728.69 million, a slight decrease of 0.17% from RMB 20,650,520.18 million at the end of 2014[19]. - The total liabilities were RMB 14,341,396.53 million, down 0.48% from RMB 14,410,103.56 million at the end of 2014[19]. - The company's current assets totaled CNY 150.08 billion, down from CNY 153.14 billion at the beginning of the year, primarily due to a decrease in inventory[27]. - The total liabilities of the company were CNY 143.41 billion, slightly down from CNY 144.10 billion at the beginning of the year[29]. - The company's short-term borrowings decreased to CNY 16.57 billion from CNY 17.73 billion at the beginning of the year[28]. - Accounts payable decreased significantly to CNY 29.66 billion from CNY 34.99 billion at the beginning of the year, indicating improved cash flow management[28]. Cash Flow - The net cash flow from operating activities turned positive, amounting to CNY 1.75 billion, a significant improvement from a negative cash flow of CNY 2.67 billion in the previous year[5][8]. - Operating cash flow turned positive, with a net cash flow from operating activities of RMB 174,557.33 million, a significant improvement from a negative RMB 266,685.81 million in the previous year[20]. - The net cash flow from operating activities was ¥1,745,573,346.19, a turnaround from a net outflow of ¥2,666,858,131.93 in the previous year[44]. - Cash and cash equivalents at the end of Q1 2015 amounted to ¥65,453,112,408.10, compared to ¥58,114,513,594.18 at the end of Q1 2014, showing an increase of about 12.8%[45]. - The total cash inflow from financing activities was ¥11,854,208,524.94, down from ¥19,787,773,463.60 in the previous year, indicating a decrease of approximately 40.5%[45]. - The net cash flow from financing activities was -¥1,647,678,137.08, contrasting with a positive net flow of ¥5,720,833,792.50 in the same period last year[45]. Operational Challenges - The gross profit margin decreased due to rising costs of raw materials and labor, impacting overall performance[7]. - The gross profit margin fell to 11.51%, down 7.99 percentage points year-on-year, primarily due to a decline in completed orders and rising costs[15]. - Total operating costs increased to CNY 9,057,202,211.00, up 2.89% from CNY 8,802,890,364.85 in the same period last year[36]. - The company reported a significant increase in management expenses to CNY 984,715,594.13, compared to CNY 928,983,888.74 in the previous year[36]. Strategic Developments - The company completed the acquisition of 100% equity in Dalian Ocean Shipbuilding Engineering Co., which is now a wholly-owned subsidiary[11]. - The company has committed to ensuring the independence of its subsidiaries and will compensate for any losses due to delays in shipbuilding payments[22]. - The company plans to inject assets from its controlling shareholder's subsidiaries into the company within three years, contingent on certain conditions being met[22]. - The company's financial expenses turned from positive to negative, with net financial income increasing by RMB 150 million due to favorable foreign exchange gains[15].