MIHF(SH:600337)2014-04-28 16:00Financial Performance - Net profit attributable to shareholders increased by 23.95% to CNY 29,373,171.32 compared to the same period last year[9] - Operating revenue decreased by 1.09% to CNY 566,024,659.23 compared to the same period last year[9] - Total operating revenue for Q1 2014 was CNY 566,024,659.23, a decrease of 1.1% from CNY 572,287,118.05 in the same period last year[32] - Total operating costs for Q1 2014 were CNY 528,261,092.92, down 3.1% from CNY 545,425,867.08 year-on-year[32] - Net profit for Q1 2014 was CNY 29,373,171.32, an increase of 24.5% compared to CNY 23,697,616.78 in Q1 2013[32] - Basic and diluted earnings per share for Q1 2014 were both CNY 0.05, up from CNY 0.04 in the previous year[32] - The company reported a comprehensive income total of CNY 30,234,265.47 for Q1 2014, compared to CNY 22,026,512.46 in the same period last year, reflecting a significant increase[32] Assets and Liabilities - Total assets increased by 2.15% to CNY 3,855,597,667.69 compared to the end of the previous year[9] - Total assets as of March 31, 2014, were CNY 2,900,459,575.12, down from CNY 3,109,655,051.82 at the beginning of the year[28] - Total liabilities decreased to CNY 341,533,107.46 from CNY 535,516,839.73 at the start of the year, a reduction of 36.3%[28] - Long-term borrowings increased by 100% due to adjustments in the loan structure to meet business needs[15] - Long-term borrowings increased from 100,000,000.00 to 200,000,000.00, a growth of 100.00%[25] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 60,087,002.70, an improvement from a net outflow of CNY 104,736,275.83 in the same period last year[9] - The cash inflow from operating activities for Q1 2014 was CNY 697,036,475.92, a decrease of 4.7% compared to CNY 731,690,235.83 in the same period last year[38] - The net cash outflow from operating activities was CNY -60,087,002.70, improving from CNY -104,736,275.83 year-over-year[39] - Cash inflow from financing activities increased significantly to CNY 245,636,544.76, up 105.6% from CNY 119,451,176.26 in the previous year[39] - The net cash flow from financing activities was CNY 113,764,312.15, compared to a net outflow of CNY -19,524,294.57 in the same quarter last year[39] - The total cash and cash equivalents at the end of the period rose to CNY 456,628,905.35, compared to CNY 267,113,879.51 at the end of Q1 2013[39] - The cash outflow from investing activities was CNY 47,460,283.52, an increase of 36.3% from CNY 34,818,953.21 in the previous year[39] - The net cash flow from investing activities was CNY -47,386,868.35, worsening from CNY -34,723,057.51 year-over-year[39] Shareholder Information - The number of shareholders totaled 34,857 at the end of the reporting period[11] - The largest shareholder, Meike Investment Group Co., Ltd., holds 41.39% of the shares[11] Financial Expenses and Losses - Financial expenses decreased by 58.43% to CNY 3,813,413.15 compared to the previous period[16] - Financial expenses decreased by 58.43% due to reduced exchange losses and fees[18] - The company reported a significant decrease in non-current asset disposal losses by 82.15% to CNY 151,865.44 compared to the previous period[16] - Asset impairment losses decreased by 89.46% as the company reversed previously recognized impairment losses[18] Tax and Other Receivables - Tax payable decreased significantly from 80,076,667.55 to 24,026,445.13, a decline of 70.00%[25] - Cash received from tax refunds decreased by 42.33% due to reduced export business[20] - Cash received from tax refunds decreased to CNY 5,801,698.20, down 42.5% from CNY 10,060,127.25 in the same period last year[38] - Cash received from other operating activities decreased by 64.93% due to reduced temporary funds from the controlling shareholder[20] Inventory and Investments - Inventory as of March 31, 2014, was CNY 44,778,455.31, slightly up from CNY 43,488,652.46 at the start of the year[28] - Long-term equity investments remained stable at CNY 2,319,095,323.05, unchanged from the beginning of the year[28] - Cash paid for the acquisition of fixed assets increased by 36.30% due to increased investments in store and automation projects[21] - Cash from the disposal of fixed assets increased by 561.53% due to higher proceeds from equipment sales[20]