Financial Performance - Net profit attributable to shareholders was CNY 2,642,287.25, representing a decline of 42.18% year-on-year[10]. - Operating revenue for the first quarter was CNY 133,743,733.38, down 7.88% from the same period last year[10]. - The net cash flow from operating activities was negative CNY 68,809,470.71, a decrease of 17.70% compared to the previous year[10]. - The weighted average return on equity decreased by 0.47 percentage points to 0.57%[10]. - Total operating revenue for Q1 2014 was CNY 133,743,733.38, a decrease of 7.9% compared to CNY 145,182,524.34 in the same period last year[32]. - Net profit for Q1 2014 was CNY 2,642,287.25, a decline of 42.3% compared to CNY 4,569,521.30 in Q1 2013[32]. - Basic and diluted earnings per share for Q1 2014 were CNY 0.0097, down from CNY 0.0167 in the previous year[33]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,220,077,960.90, a decrease of 0.34% compared to the end of the previous year[10]. - The company’s non-current assets totaled CNY 786,420,524.76, slightly down from CNY 787,336,736.77 at the beginning of the year[26]. - Total assets as of March 31, 2014, were CNY 660,588,515.57, a slight decrease from CNY 662,819,624.75 at the beginning of the year[30]. - Total liabilities as of March 31, 2014, were CNY 217,363,200.77, compared to CNY 216,122,937.65 at the start of the year[30]. - Shareholders' equity totaled CNY 443,225,314.80 as of March 31, 2014, down from CNY 446,696,687.10 at the beginning of the year[30]. Cash Flow - Cash and cash equivalents decreased by 71.18% compared to the beginning of the period, primarily due to reduced cash received from sales[14]. - The company reported a significant increase in interest receivables, rising to CNY 6,912,500.00 from CNY 3,950,000.00 year-on-year[29]. - The net cash flow from operating activities for Q1 2014 was -68,809,470.71 RMB, compared to -58,460,405.28 RMB in the previous period, indicating a decline of approximately 17.5%[35]. - Total cash inflow from operating activities was 52,763,324.54 RMB, down from 171,589,383.96 RMB, representing a decrease of about 69.1%[35]. - Cash outflow from operating activities totaled 121,572,795.25 RMB, a reduction from 230,049,789.24 RMB, reflecting a decrease of approximately 47.2%[35]. - The net increase in cash and cash equivalents for the period was -91,450,100.99 RMB, compared to -77,128,319.78 RMB in the previous period, indicating a decline of approximately 18.5%[36]. - The ending balance of cash and cash equivalents was 37,028,667.17 RMB, down from 88,045,583.51 RMB, representing a decrease of about 58.1%[36]. Shareholder Information - The number of shareholders at the end of the reporting period was 23,870, with the largest shareholder holding 44.79% of the shares[12]. - The company holds a 21% stake in the newly established Qinghai Energy Company, which will be the sole developer of the Yuka coal mine area[16]. Operational Commitments - The company is committed to avoiding competition with Yuka Coal Power for three years after its full production, with plans to gradually integrate coal production assets[15]. - The company has committed to transferring all rights of Qinghai Energy Company to itself within three years after the company starts full production, provided that the operational conditions improve significantly[16]. - The company is currently in the project construction phase for Qinghai Energy Company, with no significant improvement in production and operational conditions[16]. - The company has a commitment to avoid future competition with Qinghai Energy Company and will prioritize transferring competitive assets at reasonable prices[17]. Changes in Accounts - Cash and cash equivalents decreased from CNY 128,478,768.16 at the beginning of the year to CNY 37,028,667.17[25]. - Accounts receivable increased to CNY 244,340,000.00 from CNY 179,691,520.00, indicating a growth of approximately 36.0%[25]. - Prepayments increased by 46.06% compared to the beginning of the period, attributed to higher prepayments for materials and equipment[14]. - Inventory decreased from CNY 76,545,938.38 to CNY 67,598,895.91, reflecting a reduction of about 11.5%[25]. - The company reported a decrease in short-term borrowings, remaining at CNY 50,000,000.00[26]. Cost Management - Total operating costs for Q1 2014 were CNY 129,325,232.62, down 5.7% from CNY 137,172,198.21 year-on-year[32]. - Cash outflow for purchasing goods and services was 45,881,303.69 RMB, down from 95,660,359.12 RMB, a decrease of approximately 52.0%[35]. - Cash paid to employees was 24,043,131.47 RMB, an increase from 20,526,718.35 RMB, reflecting an increase of about 16.5%[35]. - Cash paid for taxes was 15,911,808.77 RMB, significantly lower than 50,838,123.41 RMB, indicating a decrease of approximately 68.7%[35]. Product Development and Market Strategy - The company has not disclosed any new product developments or market expansion strategies in this report[32].