Langsha(SH:600137)2014-04-28 16:00Financial Performance - Operating revenue increased by 6.85% to CNY 65,350,447.49 year-on-year[11] - Net profit attributable to shareholders decreased by 3.58% to CNY 3,084,962.09[11] - Basic and diluted earnings per share both decreased by 3.03% to CNY 0.032[11] - Operating profit for Q1 2014 was CNY 3,064,654.83, a decrease of 11.2% from CNY 3,451,006.75 in Q1 2013[23] - Net profit for Q1 2014 was CNY 3,084,962.09, down 3.6% from CNY 3,199,500.13 in the previous year[23] Assets and Liabilities - Total assets decreased by 4.50% to CNY 568,256,794.23 compared to the end of the previous year[11] - Total liabilities decreased to CNY 106,115,609.16 from CNY 135,965,254.64, reflecting a reduction in financial obligations[17] - Total liabilities increased significantly to CNY 27,625.14 million from CNY 3,365.71 million at the beginning of the year[21] - The company's total equity decreased slightly to CNY 295,491,939.28 from CNY 295,539,012.56 at the beginning of the year[21] Cash Flow - Cash flow from operating activities showed a negative net amount of CNY -15,293,499.68, compared to CNY -11,908,479.92 in the same period last year[11] - Cash and cash equivalents at the end of the period were CNY 129,093,418.44, down from CNY 134,828,531.92 at the beginning of the year[28] - The net cash flow from operating activities was -19,458.50 million RMB, a significant decrease compared to 1,847.97 million RMB in the previous period[30] - Total cash inflow from operating activities was 23,909.84 million RMB, down from 42,672.17 million RMB in the prior period[30] - Cash outflow from operating activities increased to 43,368.34 million RMB from 40,824.20 million RMB year-over-year[30] - The ending balance of cash and cash equivalents decreased to 11,420.30 million RMB from 19,521.23 million RMB in the previous period[30] - The beginning balance of cash and cash equivalents was 30,878.80 million RMB, indicating a substantial drop in liquidity[30] Shareholder Information - The total number of shareholders reached 14,036 at the end of the reporting period[13] - The largest shareholder, Langsha Holdings Group Co., Ltd., holds 42.68% of the shares[13] Operating Expenses - Sales expenses increased by 81.40% to CNY 6,923,203.46, driven by new television shopping sales and related promotional expenses by the subsidiary[15] - Other operating expenses included a donation of CNY 500,199.80 to the local government[12] - Other operating expenses surged by 206,594.21% to CNY 500,200.00, primarily due to a donation of CNY 500,000 to the Yiwu Municipal Government's "Five Water Co-Governance" fund by the subsidiary[15] Financial Metrics - The weighted average return on net assets decreased by 0.04 percentage points to 0.67%[11] - Financial expenses showed a significant increase of 309.92%, resulting in a net income of CNY -664,613.59, due to increased interest income from bank deposits by the subsidiary[15] - Operating income from government subsidies rose by 193.07% to CNY 1,072,292.29 compared to the previous year, reflecting increased support received by the subsidiary[15] Receivables and Payables - Accounts receivable decreased to CNY 164,940.07, a 100% reduction due to the endorsement of customer acceptance bills for material payments by the subsidiary Zhejiang Langsha Underwear Co., Ltd.[15] - Accounts payable decreased by 35.71% to CNY 23,857,700.00, attributed to reduced settlement of goods with suppliers using notes payable by the subsidiary.[15] - Employee compensation payable decreased by 35.72% to CNY 2,815,064.42, mainly due to the payment of retained salaries from November and December 2013 by the subsidiary.[15] - Tax payable increased by 274.40% to CNY 2,225,655.70, primarily due to delayed settlement of goods payments and insufficient invoices from suppliers.[15]