Financial Performance - Revenue for Q1 2014 was CNY 121,973,274.46, a decrease of 65.4% compared to CNY 352,536,658.78 in the same period last year[8]. - Net profit attributable to shareholders was a loss of CNY 73,799,670.23, a decline of 2,385.82% from a profit of CNY 3,228,584.61 in the previous year[8]. - Operating cash flow for the period was CNY 24,842,792.51, down 83.4% from CNY 149,679,775.87 year-on-year[8]. - Basic and diluted earnings per share were both CNY -0.3625, compared to CNY 0.0159 in the same period last year, representing a decrease of 2,379.87%[8]. - The company expects a net loss of between CNY 40 million and CNY 45 million for the first half of 2014, compared to a net profit of CNY 14.23 million in the same period of 2013[23]. - The decrease in revenue is primarily due to low water levels at the beginning of 2014, resulting in significantly reduced power generation in the first quarter[23]. - The company anticipates that the income generated during the flood season from April to June will not be sufficient to cover the losses incurred in the first quarter[23]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 17,307,340,655.10, an increase of 0.8% from CNY 17,169,687,368.85 at the end of the previous year[8]. - Net assets attributable to shareholders decreased by 4.4% to CNY 1,543,113,193.93 from CNY 1,614,131,526.66[8]. - Cash and cash equivalents decreased by 54.11% to CNY 113,540,908.40 from CNY 247,394,002.39[15]. - The company has repaid long-term borrowings due within one year, impacting its financial position[16]. Accounts Receivable - Accounts receivable increased by 159.25% to CNY 105,475,840.42 from CNY 40,685,484.75[15]. - The company reported an increase in accounts receivable at the end of the period due to higher power generation compared to the end of the previous year[16]. Shareholder Information - The number of shareholders at the end of the reporting period was 12,789[11]. - The top three shareholders held a combined 33.39% of the shares, with China Huadian Group Company holding 13.58%[11]. - The company has committed to not reducing its holdings of certain shares for a specified period, ensuring stability for minority shareholders[20]. Operational Insights - The increase in deferred tax assets is attributed to the provision for bad debts made during the period[16]. - The company has seen a reduction in variable costs due to decreased power generation[16]. - The cash received from sales of goods has decreased compared to the same period last year due to reduced power generation revenue[16]. - The company has not disclosed any other significant matters during the reporting period[18].

Financial Performance - The company's operating revenue for 2013 was CNY 1,017,416,605.75, a decrease of 42.57% compared to CNY 1,771,492,081.66 in 2012[24] - The net profit attributable to shareholders was a loss of CNY 99,100,698.12, representing a decline of 172.39% from a profit of CNY 136,892,499.62 in the previous year[24] - The net cash flow from operating activities decreased by 49.78% to CNY 734,473,992.41 from CNY 1,462,377,874.06 in 2012[24] - The basic earnings per share for 2013 was -CNY 0.4867, a decrease of 172.38% from CNY 0.6724 in 2012[24] - The weighted average return on equity was -6%, a decrease of 14.3 percentage points compared to 8.3% in 2012[24] - The total operating revenue for 2013 was 1.017 billion yuan, down 42.57% compared to the previous year[32] - The net profit attributable to shareholders was -99 million yuan, a decline of 172.39% year-on-year[32] - The company's main business income decreased by 749 million yuan, a drop of 42.92% year-on-year due to significant drought conditions affecting water inflow[33] Assets and Liabilities - The total assets at the end of 2013 were CNY 17,169,687,368.85, an increase of 7.72% from CNY 15,939,854,505.02 at the end of 2012[24] - The net assets attributable to shareholders decreased by 6.08% to CNY 1,614,131,526.66 from CNY 1,718,649,133.39 in 2012[24] - Total liabilities increased to CNY 13,790,576,350.00 from CNY 12,383,664,415.59, representing a growth of approximately 11.4% year-over-year[199] - Non-current liabilities rose to CNY 11,646,248,809.70, up from CNY 10,538,619,493.70, indicating an increase of about 10.5%[199] - Total equity decreased to CNY 3,379,111,018.85 from CNY 3,556,190,089.43, reflecting a decline of approximately 5.0%[199] - The company's retained earnings fell to CNY 87,374,589.07 from CNY 214,740,184.52, a decrease of around 59.3%[199] Cash Flow - The total cash flow from operating activities fell by 49.78% year-on-year to CNY 734,473,992.41, reflecting the same adverse conditions affecting revenue[46] - Operating cash inflow decreased by 42.11% year-on-year to CNY 1,172,876,555.17, primarily due to a significant drought in Guizhou province, resulting in a 42.65% reduction in electricity generation to 3.795 billion kWh[45] - Net cash flow from financing activities increased by 252.53% year-on-year to CNY 570,838,391.15, mainly due to a reduction in cash used for debt repayment by CNY 835 million[46] Electricity Generation and Sales - In 2013, the company's electricity generation was 3.795 billion kWh, achieving only 55.80% of the annual plan, a decrease of 42.65% year-on-year[32] - The company reported a decrease in electricity sales volume to 374.857 million kWh, down 42.8% from 655.376 million kWh in 2012[35] - Revenue from the electricity sector dropped by 42.92% year-on-year to CNY 995,964,199.43, with a gross margin of 47.29%, down 7.67% from the previous year[47] Investments and Projects - The company is currently constructing several projects, including the Mamiya and Shannipo hydropower stations, with a total planned investment of CNY 1.384 billion[62] - The company plans to increase its controllable installed capacity to 3.2305 million kW upon completion of all ongoing projects, significantly enhancing its power generation capacity[65] - The company made an external investment of CNY 50,250,000 in Guizhou Beiyuan Power Co., Ltd., marking a 100% increase compared to the previous year[55] Management and Governance - The company has established a leadership group to enhance the management and efficiency of small and medium hydropower operations[72] - The company completed the internal control system construction with 296 revised internal control systems and established 449 risk control points[72] - The company has implemented a new "Management System for Controlling Subsidiaries" to optimize resource allocation and enhance subsidiary performance[152] - The company has maintained compliance with the Company Law and relevant regulations without any discrepancies in governance practices[152] Future Outlook - The company anticipates a stable growth in the domestic economy, with a projected GDP growth of around 7.5% in 2014, leading to an expected increase in electricity demand[64] - The company plans to achieve a total electricity generation of 6.8 billion kWh and a total profit of 174 million CNY in 2014[75] - The company has a capital investment budget of 1.255 billion CNY for infrastructure and technical transformation in 2014, with 1.238 billion CNY allocated to ongoing projects[76] Shareholder Information - The company plans to increase its total share capital from 203,599,108 shares to 305,398,662 shares by converting capital reserves into shares at a ratio of 5 shares for every 10 shares held[89] - The company has not proposed any cash dividend distribution plan despite having positive retained earnings for the reporting period[92] - The total number of shareholders at the end of the reporting period was 14,671, an increase from 12,788 five trading days before the annual report disclosure[117]