LFD(SH:600149)2014-04-25 16:00Financial Performance - Operating revenue increased by 269.70% to CNY 12,366,359.71 from CNY 3,345,002.35 in the same period last year[9] - Net profit attributable to shareholders was CNY 924,435.12, a significant recovery from a loss of CNY 763,483.03 in the previous year[9] - Cash flow from operating activities was CNY 558,459.06, compared to a negative cash flow of CNY -643,390.27 in the same period last year[9] - The weighted average return on net assets improved to 0.35% from -0.24% year-on-year[9] - Total operating revenue for Q1 2014 was CNY 12,366,359.71, a significant increase from CNY 3,345,002.35 in the same period last year, representing a growth of approximately 269.5%[21] - The net profit for Q1 2014 was CNY 924,435.12, compared to a net loss of CNY 763,483.03 in Q1 2013, marking a turnaround in profitability[21] - Basic earnings per share for Q1 2014 were CNY 0.0024, compared to a loss of CNY 0.0020 per share in the same quarter last year[21] - The net profit for Q1 2014 was ¥924,692.44, compared to a net loss of ¥852,164.19 in Q1 2013, indicating a turnaround in profitability[23] - The total comprehensive income for Q1 2014 was ¥924,692.44, a recovery from a comprehensive loss of ¥852,164.19 in the same quarter of the previous year[23] Assets and Liabilities - Total assets decreased by 3.13% to CNY 299,247,198.67 compared to the end of the previous year[9] - The company's total assets as of March 31, 2014, were CNY 299,247,198.67, down from CNY 308,915,050.74 at the beginning of the year, a decrease of approximately 3.4%[17] - Total liabilities decreased from CNY 42,158,035.13 at the beginning of the year to CNY 31,565,747.94, a reduction of about 25.2%[17] - The company's cash and cash equivalents decreased to CNY 8,575,697.40 from CNY 63,376,592.37, a decline of approximately 86.5%[17] - Cash and cash equivalents at the end of Q1 2014 totaled ¥33,927,101.43, down from ¥35,492,778.32 at the end of Q1 2013, a decrease of about 4.4%[25] Operating Costs and Expenses - Total operating costs for Q1 2014 amounted to CNY 14,793,329.38, up from CNY 4,568,083.54 in the previous year, indicating an increase of about 224.5%[21] - Total operating expenses for Q1 2014 were ¥16,878,187.39, up from ¥5,633,000.54 in Q1 2013, reflecting an increase of approximately 199.5%[23] - The company reported an operating profit of CNY -2,075,564.88 for Q1 2014, compared to a loss of CNY -1,223,081.19 in Q1 2013[21] - The company incurred sales expenses of ¥130,374.12 in Q1 2014, a decrease from ¥173,760.00 in the same period last year, reflecting a reduction of approximately 25%[23] - Management expenses for Q1 2014 were ¥3,001,960.55, down from ¥3,460,298.33 in Q1 2013, indicating a decrease of about 13.3%[23] Shareholder Information - The total number of shareholders reached 38,819, indicating a stable shareholder base[11] - The largest shareholder, Langfang Land Development Investment Holding Co., Ltd., holds 13.17% of the shares[11] Government Support and Commitments - The company received government subsidies amounting to CNY 3,000,000 during the reporting period[10] - The company plans to address historical issues related to commitments made by its former controlling shareholder, Hainan Zhongyi International Economic and Technical Cooperation Co., Ltd.[13] - The company is currently in discussions to resolve the commitment issues with Hainan Zhongyi, aiming to protect shareholder interests[13] Other Income and Losses - The company recorded an operating income of CNY 3,000,000.00 from non-operating activities in Q1 2014, compared to CNY 489,158.55 in the previous year[21] - The company reported an investment loss of ¥30,007,950.00 in Q1 2014, consistent with the previous year's investment outflow of ¥30,000,000.00[25] - The company reported a significant increase in other operating income, amounting to ¥3,000,000.00 in Q1 2014, compared to ¥489,158.55 in Q1 2013[23]