HAC(SH:600202)2014-04-21 16:00Financial Performance - Operating revenue for the first quarter was CNY 152,538,739.37, down 31.49% from CNY 222,654,073.62 in the same period last year[15]. - Net profit attributable to shareholders was a loss of CNY 11,893,488.21, representing a decline of 490.20% compared to a loss of CNY 2,015,146.63 in the previous year[8]. - The net loss for Q1 2014 was CNY 11,893,488.21, compared to a net loss of CNY 2,015,146.63 in Q1 2013, representing a significant increase in losses[27]. - The company's investment income decreased by 185.82% to a loss of CNY 392,574.68 due to the decline in the operating performance of invested units[15]. - The gross profit margin for Q1 2014 was negative, indicating a challenging operating environment[27]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,643,200,165.98, a decrease of 2.95% compared to the previous year-end[8]. - Current assets total 1,849,973,038.09 RMB, a decrease from 1,923,096,544.31 RMB at the beginning of the year[22]. - Total liabilities amount to 1,821,557,139.14 RMB, down from 1,890,040,785.31 RMB at the beginning of the year[23]. - The equity attributable to the parent company is 821,643,026.84 RMB, down from 833,522,612.98 RMB at the beginning of the year[23]. - The company's total assets decreased to CNY 2,632,284,152.01 from CNY 2,712,008,301.04 at the beginning of the year, a decline of 2.9%[25]. Cash Flow - Cash flow from operating activities was CNY 75,409,493.95, a decrease of 34.22% from CNY 114,641,764.95 in the same period last year[16]. - Operating cash inflow for Q1 2014 was CNY 256.91 million, a decrease of 12.6% from CNY 294.21 million in the same period last year[30]. - Net cash flow from operating activities was CNY 75.41 million, down 34.3% from CNY 114.64 million year-on-year[30]. - Cash inflow from financing activities was CNY 162 million, slightly down from CNY 170 million in the previous year[31]. - The ending cash and cash equivalents balance was CNY 142.25 million, down from CNY 285.50 million year-on-year[31]. Shareholder Information - The number of shareholders at the end of the reporting period was 48,120[12]. - The largest shareholder, Harbin Industrial Investment Group Co., Ltd., held 34.03% of the shares, totaling 130,449,385 shares[12]. Management and Expenses - The company experienced a significant increase in management expenses, which rose to CNY 24,754,369.66 from CNY 19,985,246.86, an increase of 23.9% year-on-year[27]. - Cash paid for employee compensation was CNY 21.61 million, a decrease from CNY 22.97 million year-on-year[30]. Other Significant Events - The company is in arbitration proceedings with Ansaldo Energia S.p.A. regarding a dispute[18]. - The company has committed to implementing an equity incentive plan following the completion of the share reform[18].