NEW JCM(SZ:300157)2015-04-27 16:00Financial Performance - Total revenue for Q1 2015 was ¥104,858,373.37, a decrease of 13.83% compared to ¥121,687,378.48 in the same period last year[12]. - Net profit attributable to shareholders was -¥12,044,432.13, representing a decline of 167.31% from ¥17,895,030.12 in the previous year[12]. - Basic earnings per share were -¥0.02, down 166.67% from ¥0.03 in the previous year[12]. - The company reported a net loss of CNY 9,957,115.10 for Q1 2015, compared to a net profit of CNY 20,141,877.82 in the same period last year[97]. - The total comprehensive income for Q1 2015 was ¥-20,038,471.34, contrasting with ¥18,369,426.20 in the previous year, reflecting a substantial drop in overall financial performance[101]. - The company expects to achieve a turnaround from loss to profit by the end of the reporting period, although the specific amount cannot be accurately predicted[84]. Cash Flow and Liquidity - Net cash flow from operating activities was -¥32,570,714.16, a decrease of 224.20% compared to ¥26,223,705.73 in the same period last year[12]. - The company's cash and cash equivalents decreased from CNY 390,526,287.92 at the beginning of the period to CNY 382,360,749.63 by the end of the reporting period[88]. - Cash and cash equivalents at the end of Q1 2015 were ¥374,412,066.62, down from ¥535,429,367.80 at the end of Q1 2014, showing a decrease in liquidity[106]. - The company raised ¥128,000,000.00 through borrowings in Q1 2015, significantly higher than ¥16,500,000.00 in Q1 2014, indicating increased reliance on debt financing[105]. - The ending cash and cash equivalents balance was $146,275,640.25, up from $372,335,958.93 at the beginning of the period[108]. Assets and Liabilities - Total assets at the end of the reporting period were ¥3,065,434,389.21, an increase of 1.04% from ¥3,033,931,792.12 at the end of the previous year[12]. - The company's total liabilities reached CNY 676,472,052.26, compared to CNY 627,332,491.69 in the previous period[91]. - Current liabilities increased to CNY 670,731,887.62 from CNY 620,875,481.54, indicating a rise in short-term financial obligations[91]. - The company's accounts receivable stood at CNY 762,901,528.67, slightly down from CNY 779,484,704.97 at the beginning of the period[88]. Operational Risks and Management - The company highlighted risks from international oil price fluctuations affecting the oil service industry, leading to increased competition[15]. - The company is focusing on leveraging its comprehensive oil service capabilities and geological research advantages to navigate low oil price periods[15]. - The company faces risks related to potential infringement of its proprietary technologies, which could impact product sales and service expansion[17]. - The company has established a bad debt provision to mitigate risks associated with accounts receivable recovery[20]. - The management emphasizes the importance of goodwill management as a key aspect of enhancing the value of acquired companies[19]. Shareholder Information - The total number of shareholders at the end of the reporting period is 32,689, with the top shareholder, Sun Gengwen, holding 17.63% of shares[23]. - The top ten shareholders hold a combined significant portion of the company's shares, with Sun Gengwen's holdings being the largest[23]. - The company emphasizes the importance of protecting shareholder rights and maintaining competitive integrity within the industry[57]. Investment and Fundraising - Total fundraising amount reached CNY 1,183.52 million, with CNY 4.52 million invested in the current quarter[62]. - The company reported a cash balance of 83,217.67 million RMB remaining in the fundraising account as of March 31, 2015[65]. - The company has committed to investing 18,900 million RMB in permanent working capital[64]. - The company has completed the cash acquisition of 51% equity in Chengdu Xiyou United Petroleum and Natural Gas Engineering Technology Co., Ltd. for RMB 135.3 million[72]. Compliance and Governance - The company has committed to maintaining a net profit of not less than RMB 4,668.70 million for 2015[56]. - The company has established measures to avoid competition with its subsidiaries and ensure long-term stable development[57]. - The company has reiterated its commitment to transparency and fairness in all its dealings with stakeholders[58]. - The company has committed to minimizing related party transactions and ensuring they are conducted at fair market prices[58].