NNCI(SH:600301)2014-04-28 16:00Financial Performance - Operating revenue for the first quarter was CNY 192,546,362.42, representing a year-on-year increase of 20.11%[12] - Net profit attributable to shareholders was CNY -8,689,532.32, showing a significant decline compared to CNY -58,215,266.98 in the same period last year[12] - The net profit for the current period was a loss of ¥14,977,967.85, an improvement compared to a loss of ¥65,193,388.78 in the previous period[32] - The basic earnings per share improved to -0.04 from -0.25 in the previous period, indicating a reduction in losses per share[32] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,101,560,239.90, a decrease of 3.59% compared to the end of the previous year[12] - As of March 31, 2014, total current assets amounted to RMB 339,554,238.66, down from RMB 425,986,490.43 at the beginning of the year, representing a decrease of approximately 20.3%[23] - Total liabilities as of March 31, 2014, were RMB 2,135,635,932.58, compared to RMB 2,198,916,270.10 at the beginning of the year, indicating a decrease of about 2.9%[24] - Total liabilities decreased to ¥1,282,212,995.21 from ¥1,358,699,458.49, a reduction of about 5.6%[28] - The company's total assets decreased to ¥1,242,895,267.64 from ¥1,318,506,891.80, reflecting a decline of approximately 5.7%[28] Cash Flow - Cash flow from operating activities was CNY -140,528,745.16, worsening from CNY -67,608,805.52 year-on-year[12] - The company reported a net cash outflow from operating activities of ¥140,528,745.16, worsening from a cash outflow of ¥67,608,805.52 in the previous period[35] - Cash and cash equivalents at the end of the period decreased to ¥49,690,744.71 from ¥243,654,038.50 at the beginning of the period, a decline of approximately 79.6%[36] Shareholder Information - The number of shareholders at the end of the reporting period was 18,159[15] - Equity attributable to shareholders decreased by 35.78% to CNY 15,818,095.85 from CNY 24,630,566.18 year-on-year[12] - The total equity attributable to the parent company was RMB 15,818,095.85, down from RMB 24,630,566.18, reflecting a decline of approximately 35.7%[24] - The equity attributable to the parent company decreased due to continued losses from subsidiaries[19] Operational Changes - The decrease in selling expenses is attributed to the reduction in production and sales activities[19] - The company plans to take effective measures to reduce related party transactions following the completion of the equity transfer[20] - There are no plans to change the main business of the company or make significant adjustments to its main business in the next 12 months[20] Other Financial Metrics - The weighted average return on net assets was -42.84%[12] - Prepayments increased by 61.16% to CNY 106,529,797.44 compared to CNY 66,100,727.58 in the previous year[18] - Other current assets rose by 58.33% to CNY 26,353,497.42 from CNY 16,644,181.95 year-on-year[18] - Financial expenses increased by 72.37% to CNY 5,790,347.97 compared to CNY 3,359,305.51 in the previous year[18] - Financial expenses increased due to higher costs associated with letter of credit financing[19] - The increase in other current assets is primarily due to the increase in the value-added tax receivable[19] - The decrease in current liabilities due within one year is mainly due to the repayment of long-term loans by the subsidiary Wuzhou Lianyi Chemical Co., Ltd.[19] Cost Analysis - Operating costs increased to ¥236,775,869.39 from ¥231,443,955.23, reflecting a rise of about 2.9%[32] - Accounts receivable increased to ¥56,689,588.36 from ¥54,543,091.40, showing a growth of about 4%[27] - Inventory levels rose to ¥53,741,539.59 from ¥49,178,148.87, indicating an increase of approximately 9.5%[27]