Datang Power(SH:601991)2016-04-27 16:00Financial Performance - Operating revenue for the period was CNY 13,149,936, down 12.47% year-on-year[6] - Net profit attributable to shareholders was CNY 674,392, reflecting an 8.86% decrease compared to the same period last year[6] - Basic and diluted earnings per share were both CNY 0.0513, down 11.86% from the previous year[6] - Total operating revenue for Q1 2016 was CNY 13,149,936 thousand, a decrease of 12.5% compared to CNY 15,023,017 thousand in the same period last year[31] - Net profit for Q1 2016 was 601,621 thousand RMB, a decrease of 8.9% from 660,747 thousand RMB in Q1 2015[35] - Operating profit for Q1 2016 was 496,692 thousand RMB, down 12.8% from 569,381 thousand RMB in the previous year[34] - Total operating costs for Q1 2016 were 12,656,361 thousand RMB, a decrease of 8.8% from 13,880,095 thousand RMB in Q1 2015[32] - Financial expenses for Q1 2016 were 356,588 thousand RMB, significantly reduced by 35.3% from 551,022 thousand RMB in the same period last year[34] - Investment income for Q1 2016 was 450,504 thousand RMB, a decrease of 48.5% compared to 872,919 thousand RMB in Q1 2015[34] - The company reported a total profit of 691,737 thousand RMB for Q1 2016, slightly down from 716,337 thousand RMB in Q1 2015[35] Cash Flow - Cash flow from operating activities was CNY 4,234,086, a significant decline of 40.06% year-on-year[6] - Net cash flow from operating activities decreased by approximately 40.06% compared to the previous period, primarily due to a reduction in power generation[12] - Cash flow from operating activities for Q1 2016 was 4,234,086 thousand RMB, down 40.4% from 7,063,501 thousand RMB in the previous year[38] - Operating cash inflow for Q1 2016 was CNY 4,900,361 thousand, an increase of 31.4% from CNY 3,727,403 thousand in the previous period[41] - Net cash flow from operating activities decreased to CNY 814,952 thousand, down 47.8% from CNY 1,561,702 thousand year-over-year[41] - Cash outflow from investing activities totaled CNY 2,977,693 thousand, an increase of 20.3% compared to CNY 2,474,279 thousand in the previous period[42] - Net cash flow from investing activities was negative CNY 315,722 thousand, improving from negative CNY 618,239 thousand in the previous year[42] - Cash inflow from financing activities was CNY 14,603,834 thousand, significantly up from CNY 3,000,000 thousand in the previous period[42] - Net cash flow from financing activities was negative CNY 1,229,295 thousand, compared to positive CNY 75,207 thousand in the previous year[42] - The ending cash and cash equivalents balance decreased to CNY 663,293 thousand, down 79.2% from CNY 3,198,141 thousand in the previous period[42] - Total cash and cash equivalents decreased by CNY 730,065 thousand during the quarter, contrasting with an increase of CNY 1,018,670 thousand in the previous year[42] Assets and Liabilities - Total assets at the end of the reporting period were CNY 301,158,262, a decrease of 0.73% compared to the end of the previous year[6] - Total current assets decreased from 21,020,315 thousand RMB at the beginning of the year to 20,427,625 thousand RMB by the end of March 2016[21] - Total liabilities decreased to CNY 237,304,436 thousand from CNY 240,018,216 thousand, reflecting a reduction of approximately 1.5%[24] - Current liabilities totaled CNY 66,720,134 thousand, down from CNY 70,915,808 thousand, indicating a decrease of about 5.5%[24] - Non-current liabilities were reported at CNY 170,584,302 thousand, a slight increase from CNY 169,102,408 thousand[24] - The company's cash and cash equivalents decreased to CNY 663,293 thousand from CNY 1,393,358 thousand, representing a decline of approximately 52.3%[26] - The total equity attributable to shareholders increased to CNY 45,685,336 thousand from CNY 45,023,163 thousand, showing a growth of about 1.5%[24] - The company reported a decrease in inventory to CNY 137,098 thousand from CNY 161,847 thousand, a reduction of approximately 15.3%[27] - The company’s short-term borrowings increased to CNY 16,525,050 thousand from CNY 14,785,757 thousand, reflecting an increase of about 11.8%[24] - The company’s retained earnings rose to CNY 2,768,710 thousand from CNY 2,085,379 thousand, indicating an increase of approximately 32.8%[24] Shareholder Information - The number of shareholders at the end of the reporting period was 239,978[8] - The company’s undistributed profits increased by about 32.77% compared to the beginning of the period, due to current period profits[11] Investment and Restructuring - The company reported a 38.93% increase in accounts receivable compared to the beginning of the period, mainly due to increased use of notes for settlement by a subsidiary[10] - Prepaid expenses increased by approximately 97.86% compared to the beginning of the period, attributed to prepayments for materials and engineering[11] - The company's investment income from joint ventures and associates increased by approximately 32.91% compared to the previous period, primarily due to improved profitability of these investments[12] - Other comprehensive income decreased by approximately 238.80% compared to the previous period, mainly due to a decline in the fair value of available-for-sale financial assets[12] - The company signed a restructuring framework agreement with Guoxin Company on July 7, 2014, regarding the coal chemical sector, which was later terminated on March 29, 2016[13] - The company is in discussions with Datang Group to continue the restructuring of the coal chemical sector and related projects[13] - Datang Group has committed to avoid direct or indirect competition with the company in power project development and asset acquisition since its IPO in 2006[15] - Datang Group plans to inject non-listed thermal power assets into the company within 5-8 years, contingent on improved profitability and compliance with relevant conditions[16]