HYMD(SH:600971)2016-04-21 16:00Financial Performance - Operating revenue fell by 45.23% to CNY 994.17 million, down from CNY 1.82 billion in the same period last year[7]. - Net profit attributable to shareholders was a loss of CNY 174.86 million, a decrease of 518.39% compared to a profit of CNY 41.79 million last year[7]. - Cash flow from operating activities decreased by 59.01% to CNY 81.19 million, down from CNY 198.04 million year-on-year[7]. - The total profit was a loss of CNY 156.39 million, a decline of 409.56% compared to a profit of CNY 50.52 million last year[14]. - The net profit for Q1 2015 was a loss of CNY 156,638,534.04, compared to a profit of CNY 47,130,441.93 in Q1 2014[27]. - The company reported a total comprehensive income of CNY -156,638,534.04 for Q1 2015, contrasting with CNY 47,130,441.93 in the previous year[27]. - Basic and diluted earnings per share for Q1 2015 were both CNY -0.16, compared to CNY 0.04 in Q1 2014[27]. - Operating profit for Q1 2015 was CNY -173,045,927.69, a significant decline from CNY 49,970,256.69 in the same quarter last year[26]. Assets and Liabilities - Total assets decreased by 1.82% to CNY 13.56 billion compared to the end of the previous year[7]. - Total current assets decreased to ¥3,972,802,619.29 from ¥4,077,830,147.67, a reduction of about 2.6%[21]. - Total non-current assets decreased to ¥9,589,227,310.15 from ¥9,735,921,535.13, a decline of approximately 1.5%[21]. - Total liabilities decreased to ¥6,580,844,294.00 from ¥6,819,287,476.74, a decline of about 3.5%[22]. - Total equity attributable to shareholders decreased to ¥6,788,363,896.03 from ¥6,807,373,088.87, a decrease of approximately 0.3%[23]. - The company reported a total current liabilities of ¥3,677,945,726.28, down from ¥3,794,865,779.52, a reduction of about 3.1%[22]. Cash Flow - Cash inflow from operating activities decreased to ¥1,677,630,402.36 from ¥2,084,500,272.16, a decline of approximately 19.5%[32]. - Net cash flow from operating activities was ¥81,187,284.93, down 59% from ¥198,044,906.29 in the previous period[32]. - Cash inflow from financing activities increased significantly to ¥300,000,000.00 from ¥80,000,000.00, representing a growth of 275%[33]. - Net cash flow from financing activities was ¥180,477,261.16, a turnaround from a negative cash flow of -¥24,288,839.56 in the previous period[35]. - Cash outflow for investment activities was ¥104,094,091.90, down from ¥209,553,635.40, a reduction of about 50%[34]. - Net cash flow from investment activities was -¥103,442,893.00, compared to -¥209,409,799.78 previously, indicating an improvement[33]. Operational Highlights - In Q1 2015, the company produced 3,591,286 tons of raw coal, with a sales volume of 2,225,735.30 tons, including 393,589.18 tons of raw coal and 811,528.29 tons of washed premium coal[15]. - The coal production includes 840,810 tons of premium coal and 911,119.86 tons of mixed coal, indicating a diverse product offering[15]. - The company is actively pursuing market expansion and resource acquisition strategies to enhance its operational capabilities[17]. Legal and Corporate Governance - The company is currently involved in a lawsuit with Anhui Times Material Co., Ltd. regarding a contract dispute, with a claim amount of 41.9 million yuan, which is still ongoing[15]. - The company has committed to avoiding competition with its parent company, Anhui Wanfang Coal and Electricity Group, and will take active measures to prevent conflicts of interest[17]. - The repayment of debts owed to Anhui Wanfang Coal and Electricity Group will be based on the annual net profit, with a repayment cap equal to the net cash flow from operating activities[18]. - The company has a long-term commitment to ensure the independence of its financial operations and respect its operational autonomy[18]. - The company has been granted an irrevocable acquisition right for coal resources from Anhui Wanfang Coal and Electricity Group, allowing it to acquire resources based on its operational needs[17]. Financial Ratios and Metrics - The weighted average return on net assets dropped by 3.01 percentage points to -2.41%[7]. - Accounts receivable increased by 43.11% to CNY 602.77 million due to changes in customer settlement methods amid oversupply in the coal market[14]. - Short-term borrowings rose by 43.14% to CNY 730 million, reflecting an increase in bank loans[14]. - The company reported a significant increase in financial expenses by 63.87% to CNY 38.23 million due to increased bank loans and financing leases[14]. - The company recorded an investment income of CNY 2,668,468.36 in Q1 2015, compared to CNY 143,835.62 in the previous year[26]. - Operating expenses, including sales and management costs, totaled CNY 169,100,264.10 in Q1 2015, a decrease from CNY 155,799,043.11 in Q1 2014[30].