FLDT(SH:600228)2014-04-29 16:00Financial Performance - Operating revenue for the first quarter was CNY 137,847,742.76, representing a 6.41% increase year-on-year[10] - Net profit attributable to shareholders was a loss of CNY 12,651,568.82, an improvement from a loss of CNY 27,423,848.14 in the same period last year[10] - Total operating revenue for the current period is ¥137,847,742.76, an increase of 6.4% from ¥129,541,261.83 in the previous period[21] - Operating profit improved to -¥9,927,618.36 from -¥23,603,528.06, showing a significant reduction in losses[21] - Net profit for the current period is -¥14,517,745.49, compared to -¥32,927,249.08 in the previous period, indicating a 56% improvement[21] - Basic and diluted earnings per share both improved to -¥0.052 from -¥0.114[21] Cash Flow - Cash flow from operating activities showed a significant decline, with a net outflow of CNY 2,954,134.87, down 113.13% compared to the previous year[10] - Cash flow from operating activities generated a net outflow of -¥2,954,134.87, down from a net inflow of ¥22,500,901.96 in the previous period[25] - The net cash flow from operating activities was -$2,313,047.05, a significant decrease from $14,581,963.06 in the previous period, indicating a decline of approximately 115.8%[28] - Total cash inflows from operating activities amounted to $13,964,256.25, down 80.3% from $70,826,383.30 in the prior period[28] - Cash outflows from operating activities totaled $16,277,303.30, a decrease of 71.1% compared to $56,244,420.24 last period[28] - The net increase in cash and cash equivalents was -$2,313,047.05, compared to -$14,144,528.05 in the previous period, showing an improvement in cash flow dynamics[28] - The ending balance of cash and cash equivalents was $1,489,138.75, down from $6,669,569.83 in the prior period, representing a decline of 77.7%[28] Assets and Liabilities - Total assets increased by 6.60% to CNY 715,897,486.39 compared to the end of the previous year[10] - Current assets rose to CNY 326,263,615.43, up from CNY 267,814,787.13, indicating a growth of about 21.8%[16] - Total liabilities increased to CNY 772,133,665.10 from CNY 713,000,501.91, reflecting an increase of approximately 8.3%[17] - Current liabilities totaled CNY 729,284,011.62, up from CNY 670,150,848.43, marking an increase of around 8.8%[17] - The company's total equity showed a negative balance of CNY -56,236,178.71, worsening from CNY -41,407,605.70[17] Shareholder Information - The number of shareholders increased to 56,851, with the largest shareholder, Jiangxi Changjiu Chemical Group Co., Ltd., holding 18.22% of the shares[12] Accounts Receivable and Payable - Accounts receivable rose by 26.94% to CNY 40,889,677.11, attributed to increased credit sales due to intensified market competition[14] - Accounts receivable rose to CNY 40,889,677.11 from CNY 32,212,844.07, reflecting an increase of about 27.0%[16] - The company experienced a 38.23% increase in accounts payable, reaching CNY 78,175,258.69, as procurement volumes increased[14] Expenses - The company reported a significant reduction in management expenses, down 61.98% to CNY 4,686,561.42, due to lower personnel costs[14] - Sales expenses decreased to ¥4,019,537.68 from ¥5,045,646.93, a reduction of 20.3%[21] - Management expenses significantly decreased to ¥4,686,561.42 from ¥12,326,004.66, a reduction of 61.9%[21] Inventory and Prepayments - Inventory increased slightly to CNY 40,817,274.65 from CNY 39,208,746.72, showing a growth of approximately 4.1%[16] - Prepayments surged by 109.99% to CNY 60,732,281.16, driven by fluctuations in raw material prices[14]