CAMCE(SZ:002051)2015-04-28 16:00Financial Performance - Operating revenue for Q1 2015 was CNY 1,247,220,423.56, a decrease of 30.10% compared to CNY 1,784,302,570.16 in the same period last year[6] - Net profit attributable to shareholders was CNY 147,047,612.78, down 21.43% from CNY 187,148,332.95 year-on-year[6] - Basic and diluted earnings per share were both CNY 0.19, a decline of 20.83% compared to CNY 0.24 in the same period last year[6] - The company's revenue decreased by 30.10% year-on-year, while operating costs fell by 31.00%, primarily due to fewer billable project quantities during the reporting period[13] - The net profit attributable to shareholders for the first half of 2015 is expected to be between ¥31,784.56 million and ¥42,379.41 million, representing a decrease of 25.00% to 0.00% compared to the same period last year[20] - The net profit for the first half of 2014 was ¥42,379.41 million, indicating a decline in performance due to fewer billable project quantities executed during the period[21] Cash Flow - Net cash flow from operating activities decreased by 54.43% to CNY 144,038,899.85 from CNY 316,083,061.67 in the previous year[6] - Net cash flow from operating activities decreased by 54.43% year-on-year, attributed to fewer project receipts compared to the previous year[13] - Net cash flow from investing activities decreased by 217.07% year-on-year, primarily due to higher cash outflows for investments in the previous year[14] - Net cash flow from financing activities decreased by 187.53% year-on-year, mainly due to the acquisition of loans from the Bank of Montreal by a subsidiary[14] Assets and Shareholder Information - Total assets at the end of the reporting period were CNY 17,934,729,046.98, an increase of 0.19% from CNY 17,900,024,906.89 at the end of the previous year[6] - Net assets attributable to shareholders increased by 2.27% to CNY 5,424,446,551.58 from CNY 5,303,992,578.10 at the end of the previous year[6] - The total number of ordinary shareholders at the end of the reporting period was 35,170[9] - The largest shareholder, China National Machinery Industry Corporation, held 58.01% of the shares, totaling 448,835,202 shares[9] - There were no significant changes in the shareholder structure or any repurchase agreements during the reporting period[10] Management and Operational Changes - Management expenses increased by 35.73% year-on-year, mainly due to higher salaries, office expenses, and consulting fees for the mining business in Canada, as well as increased share-based payment and R&D expenses[13] - The company has committed to ensuring that its business remains independent from its parent company, China Machinery Industry Group, following any major asset restructuring[17] - The company has made commitments to avoid future business competition with its parent company and to support its engineering contracting business[17] Asset Management Initiatives - The company plans to establish an asset management company with an investment of RMB 500 million, with a registered capital of RMB 50 million[15] - The asset management company will be funded by evaluating and contributing existing assets, including 100% equity stakes in two water service companies and a property in Beijing[15] - The company is in the process of transferring ownership of certain assets to the newly established asset management company, with procedures currently underway[15] Securities and Investments - The company has no securities investment during the reporting period[22] - The subsidiary, China Engineering and Agricultural Machinery Import and Export Co., Ltd., holds 5.328 million shares of Gansu Blue Science and Technology High-tech Equipment Co., Ltd., valued at ¥78,747.8 million as of March 31, 2015[23] - The company participated in a share placement of Sinopec Engineering Group Co., Ltd., holding 7.3935 million shares, with a market value of ¥39,354.4 million as of March 31, 2015[24]