SHYNDEC(600420)2014-04-29 16:00Financial Performance - Net profit attributable to shareholders increased by 10.30% to CNY 39,774,327.44 year-on-year[9] - Basic earnings per share increased by 10.30% to CNY 0.1382 per share[9] - The net profit after deducting non-recurring gains and losses increased by 21.53% to CNY 38,012,438.63[9] - Net profit for Q1 2014 was CNY 61,850,649.36, an increase of 14.4% compared to CNY 54,220,277.42 in Q1 2013[25] - Earnings per share (EPS) for Q1 2014 was CNY 0.1382, up from CNY 0.1253 in the previous year, reflecting a growth of 7.3%[25] Revenue and Costs - Operating revenue decreased by 4.92% to CNY 634,814,129.88 compared to the same period last year[9] - Total operating revenue for Q1 2014 was CNY 634,814,129.88, a decrease of 4.1% from CNY 667,682,431.40 in the same period last year[24] - Total operating costs decreased to CNY 565,424,930.55, down 6.3% from CNY 603,207,038.11 year-on-year[24] Assets and Liabilities - Total assets increased by 7.45% to CNY 3,380,114,971.67 compared to the end of the previous year[9] - The company reported a total liability of CNY 2,022,125,090.81, compared to CNY 1,820,395,906.39 at the start of the year, marking an increase of about 11.08%[18] - Long-term borrowings rose to CNY 700,000,000.00 from CNY 670,000,000.00, reflecting an increase of approximately 4.48%[18] - Total equity increased to CNY 869,612,029.28, up from CNY 791,537,321.24 in the previous year, reflecting a growth of 9.8%[25] Cash Flow - Net cash flow from operating activities decreased by 110.16% to -CNY 7,236,874.05 compared to the previous year[9] - Cash flow from operating activities showed a net outflow of CNY 7,236,874.05, compared to a net inflow of CNY 71,219,604.83 in the same period last year[29] - Cash inflow from operating activities totaled 194,381,541.89 RMB, up from 167,311,199.72 RMB, reflecting a growth of approximately 16.2%[32] - Cash outflow from operating activities increased to 200,218,855.90 RMB from 160,889,097.63 RMB, representing a rise of about 24.5%[33] Shareholder Information - The total number of shareholders reached 17,791 as of the report date[11] - The largest shareholder, Shanghai Pharmaceutical Industry Research Institute, holds 41.62% of the shares[11] Government Support and Investments - The company received government subsidies amounting to CNY 2,200,144.92 during the reporting period[10] - The company acquired the remaining 30% equity of China National Pharmaceutical Group Rongsheng Pharmaceutical Co., Ltd. with payment expected by the end of April 2014[12] - Subsidiary China National Pharmaceutical Rongsheng was recognized as a "High-tech Enterprise," benefiting from a reduced corporate income tax rate of 15% for three years[12] Operational Changes and Future Plans - The company aims to resolve competitive issues within the industry over the next five years, supported by China National Pharmaceutical Group[14] - The company has plans to expand into other markets while maintaining existing sales channels for its current products[14] - The company is committed to developing new products and technologies to enhance its market position[14] Inventory and Receivables - Accounts receivable increased by 30.42% to ¥268,713,889.20 from ¥206,045,067.75 due to operational cycle characteristics[12] - Prepayments rose by 45.45% to ¥134,675,073.38 from ¥92,589,081.20 as a result of increased payment methods[12] - Other receivables surged by 120.99% to ¥35,072,671.13 from ¥15,870,896.19 due to non-operational receivables from subsidiaries[12] - Fixed assets increased by 36.40% to ¥685,535,221.85 from ¥502,578,300.67 as a large number of construction projects were transferred to fixed assets[12] Investment Income - Investment income dropped by 100.75% to -¥31,108.80 from ¥4,155,543.11 due to the disposal of subsidiary equity in the previous year[12] - The company reported a significant increase in investment income, reaching CNY 57,850,396.38, compared to CNY 16,807,696.23 in the previous year[28] Expenses - Sales expenses rose to CNY 166,770,320.03, an increase of 27.2% from CNY 131,172,038.72 year-on-year[25] - Management expenses increased to CNY 49,163,838.34, up 15.5% from CNY 42,581,553.16 in the previous year[25]