FFEC(SH:600203)2014-07-31 16:00Financial Performance - Operating revenue decreased by 22.98% to CNY 579,831,444.65 compared to the same period last year[9] - Net profit attributable to shareholders increased by 131.14% to CNY 11,325,290.90 compared to the same period last year[9] - Basic earnings per share increased by 135.50% to CNY 0.0471 compared to the same period last year[9] - The weighted average return on net assets increased by 1.40 percentage points to 2.54% compared to the same period last year[9] - Total operating revenue decreased to ¥579,831,444.65 from ¥752,792,303.67, representing a decline of approximately 23%[32] - Total operating costs decreased to ¥598,866,008.81 from ¥767,626,174.88, a reduction of about 22%[32] - Net profit increased to ¥7,621,964.71 compared to ¥487,470.86 in the previous period, marking a significant improvement[32] - Total comprehensive income decreased to -¥78,428,394.29 from -¥10,696,318.17, indicating a worsening in overall financial health[33] Assets and Liabilities - Total assets increased by 13.34% to CNY 2,249,220,524.51 compared to the end of the previous year[9] - The total liabilities decreased by 31.12% in deferred income tax liabilities to ¥63,879,928.06, attributed to the reduction in shareholdings of Huaying Technology[14] - The company's total liabilities increased from CNY 1,499,489,079.85 to CNY 1,576,537,657.32, which is an increase of about 5.2%[27] - Current assets rose significantly from CNY 999,933,720.45 to CNY 1,348,784,158.97, marking an increase of about 35%[25] - Cash and cash equivalents increased from CNY 251,826,728.26 to CNY 475,467,193.65, representing a growth of approximately 88.9%[25] - The equity attributable to shareholders rose from CNY 482,733,160.25 to CNY 667,953,488.86, indicating an increase of approximately 38.4%[27] Cash Flow - The company reported a net cash flow from operating activities of -CNY 12,776,622.30 for the period[9] - Cash flow from operating activities showed a net outflow of -¥12,776,622.30, compared to -¥10,407,873.74 in the previous period[38] - Cash flow from investing activities generated a net inflow of ¥9,380,739.53, improving from a net outflow of -¥9,407,341.10[39] - Cash flow from financing activities resulted in a net inflow of ¥232,540,749.29, compared to a net outflow of -¥11,673,460.10 previously[39] - The ending cash and cash equivalents balance increased to ¥399,255,520.87 from ¥48,453,168.97, showing a substantial improvement in liquidity[39] Shareholder Information - The total number of shareholders at the end of the reporting period was 24,398[12] - The largest shareholder, Fujian Furi Group Co., Ltd., holds 38.76% of the shares, totaling 93,224,100 shares[12] - As of March 31, 2014, shareholder He Haichao and his concerted parties held a total of 11,890,638 shares, accounting for 4.94% of the company's total equity[18] Investment and Financing Activities - The company raised ¥398,830,992.96 through financing activities, a 235.65% increase, mainly from the private placement of shares[15] - The company completed a private placement of 43,234,836 shares at ¥6.43 per share, increasing its registered capital to ¥283,778,936.00[17] - The company reported a significant increase in investment income, rising by 17,976.45% to ¥32,907,216.32, mainly from the reduction of shares in Huaying Technology[14] Commitments and Plans - The company has committed to not engage in any business activities that compete with its main operations during the control period by Fujian Furi Group, ensuring no competitive threats arise[20] - The company plans to distribute at least 30% of its distributable profits as cash dividends annually, contingent on achieving positive distributable profits and meeting operational funding needs[21] - The company has established a long-term incentive plan that includes equity incentives, which will be implemented after approval from the shareholders' meeting[21] Legal Matters - The company reported ongoing litigation and arbitration matters, including disputes with Fujian Huaxing Financial Securities Co., Ltd. and Shanghai Yizhou Steel Co., Ltd., which are disclosed in previous reports[18]