Financial Performance - The company reported a total revenue of 709.25 million RMB for Q1 2014, a decrease of 18.87% compared to 874.21 million RMB in the same period last year[13]. - The net profit attributable to shareholders was -62.37 million RMB, down 45.63% from -42.83 million RMB in the previous year[13]. - The company experienced a 47.40% decline in total profit, reporting -62.42 million RMB compared to -42.35 million RMB in the previous year[13]. - The net profit for the current period is -¥62,955,166.53, compared to -¥42,627,141.98 in the previous period, indicating a worsening of 47%[28]. - The basic and diluted earnings per share are both -¥0.14, compared to -¥0.10 in the previous period[28]. Cash Flow - The operating cash flow for the period was -19.67 million RMB, reflecting a significant decline of 75.16% compared to 79.16 million RMB in the same period last year[7]. - The net cash flow from operating activities decreased by 75.16% to ¥19,665,353.95 compared to ¥79,162,456.57 in the same period last year, primarily due to a decline in market prices of main products[14]. - The cash received from tax refunds dropped by 93.69% to ¥998,223.56, attributed to a decrease in export tax rebates compared to the previous year[14]. - The company reported a significant drop in net cash flow from financing activities, with a net outflow of $5.17 million compared to a net inflow of $21.94 million previously[34]. - The net increase in cash and cash equivalents was $21.86 million, compared to $36.22 million in the previous period, indicating a decrease of about 39%[34]. Assets and Liabilities - Total assets at the end of the reporting period were 4.50 billion RMB, a decrease of 4.15% from 4.79 billion RMB at the end of the previous year[7]. - The total liabilities increased to ¥2,874,400,162.25 from ¥2,523,644,971.02, indicating a rise in financial obligations[22]. - Total assets increased to ¥3,254,904,111.57 from ¥3,182,825,811.29, representing a growth of approximately 2.26%[26]. - Total liabilities rose to ¥2,084,851,780.18 from ¥2,008,875,026.58, an increase of about 3.78%[26]. - The total owner's equity decreased to ¥1,170,052,331.39 from ¥1,173,950,784.71, a decrease of approximately 0.33%[26]. Shareholder Information - The company had a total of 56,989 shareholders at the end of the reporting period[8]. - The company has not distributed any cash dividends during the reporting period[18]. Future Outlook - The company is facing a risk of delisting if it continues to incur losses in 2014, as it has reported losses for two consecutive years[15]. - The company expects to continue incurring losses through mid-2014 based on current economic conditions and operational performance[18]. - The company is actively working on a major asset restructuring plan to address significant competition issues and improve its financial situation[18]. Other Financial Metrics - The weighted average return on equity decreased to -2.53% from -1.71% in the previous year[7]. - The company's long-term equity investments decreased by 32.73% to 18.41 million RMB due to the recovery of liquidation funds from a subsidiary[12]. - Other receivables rose by 45.93% to 46.68 million RMB, attributed to unpaid freight charges[12]. - The prepayments increased by 86.69% to 81.21 million RMB due to higher raw material and project material prepayments[9]. - The company reported a significant increase in accounts receivable, which rose to ¥115,695,170.82 from ¥55,159,852, reflecting a growth of approximately 109%[25].

Financial Performance - The net profit attributable to the parent company for 2013 was -215,672,315.49 RMB, indicating a significant loss for the year[3]. - The company decided not to distribute profits or increase capital reserves for the year 2013 due to substantial losses[3]. - The company reported total revenue of CNY 3,941.11 million in 2013, a decrease of 2.69% compared to CNY 4,050.04 million in 2012[22]. - The net profit attributable to shareholders was a loss of CNY 215.67 million, representing a decline of 202.42% from a loss of CNY 71.31 million in the previous year[22]. - The basic earnings per share were reported at -CNY 0.49, a decrease of 206.25% compared to -CNY 0.16 in 2012[22]. - The weighted average return on equity was -13.39%, a decrease of 9.34 percentage points from -4.05% in the previous year[22]. - The company reported a total operating revenue of approximately CNY 3.88 billion, a decrease of 1.27% compared to the previous year[52]. - The company reported a net loss of ¥215,672,315.49 for the year, compared to a profit in the previous year[158]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 237.60% to CNY 403.29 million, up from CNY 119.46 million in 2012[22]. - The net cash flow from operating activities was ¥403,287,091.00, an increase of 237.60% compared to the previous year[48]. - Cash flow from operating activities generated a net cash inflow of ¥403,287,091.00, a substantial increase from ¥119,456,673.64 in the previous year[154]. - The company's cash and cash equivalents increased to RMB 309,005,791.81 from RMB 292,435,925.94, reflecting a growth of approximately 5.63%[145]. - The ending balance of cash and cash equivalents decreased to ¥128,169,279.13 from ¥158,971,196.46, a decline of about 19.4%[156]. Revenue Sources and Business Segments - The company achieved a 10.08% increase in revenue from construction and installation services, totaling CNY 860.49 million in 2013[23]. - The company produced 293,200 tons of PVC resin in 2013, an increase of 3.09% from 284,400 tons in 2012[23]. - The export volume of PVC reached 144,300 tons, contributing to a total foreign trade import and export volume of USD 187.68 million, a growth of 26.73% year-on-year[23]. - The company's main business revenue from chemical products decreased by 10.54% year-on-year, totaling approximately ¥1.91 billion[38]. - The revenue from irrigation engineering projects surged to ¥28,568,716.22, marking a significant increase of 419.86% due to the rise in water-saving installation projects[39]. Research and Development - R&D expenditure decreased by 81.89%, amounting to approximately ¥10.66 million compared to ¥58.83 million in the previous period[35]. - The company has obtained 18 patents and proprietary technologies during the reporting period, including 3 invention patents and 15 utility model patents[46]. - The company will increase investment in technology research and development to drive innovation and product development[75]. Management and Governance - The company has revised its internal governance policies to enhance accountability and improve governance standards[126]. - The board of directors held a total of 7 meetings during the reporting period, with 4 being in-person meetings[129]. - The company emphasizes maintaining a cash dividend distribution of at least 30% of the average distributable profit over the last three years[78]. - The company has a structured salary system for its directors and senior management, approved by the shareholders' meeting[116]. Market and Competitive Position - The company holds a strong competitive advantage in the chlor-alkali chemical and agricultural water-saving sectors, supported by its controlling shareholder's resources and technological capabilities[59]. - The company aims to address its losses by resolving significant competition issues with Tianye Group[51]. - The company is planning a significant asset restructuring to address the competition with Tianye Group, with stock trading suspended since January 27, 2014, and expected completion within 2014[133]. Taxation and Compliance - The corporate income tax rate applicable to the company is 25%, with potential reductions to 20% and 15% under certain conditions[200]. - The company adheres to the tax policies outlined in the notice from the Ministry of Finance and the State Administration of Taxation[200]. - The company benefits from a VAT exemption on agricultural film sales, as per the relevant tax policy[200]. Operational Efficiency and Cost Management - The company implemented refined management practices, resulting in significant cost control and improved operational efficiency[24]. - The company will enhance management efforts to reduce material and energy consumption in the production of tomato sauce and citric acid, aiming for profitability in these sectors[73]. Employee and Workforce - The total number of employees in the parent company is 1,489, while the total number of employees in major subsidiaries is 2,439, resulting in a combined total of 3,928 employees[118]. - The professional composition includes 2,951 production personnel, 60 sales personnel, 503 technical personnel, 44 financial personnel, 282 management personnel, and 88 logistics personnel[118].