BVEA(SH:600379)2014-04-18 16:00Financial Performance - Operating revenue for the first quarter was CNY 123,659,675.65, a decrease of 9.11% year-on-year[10] - Net profit attributable to shareholders increased by 54.59% to CNY 4,880,322.17 compared to the same period last year[10] - Basic earnings per share rose by 61.54% to CNY 0.021 per share[10] - Operating profit increased by 32.33% year-on-year, reaching ¥1,195,088.96, despite a slight decrease in operating revenue[16] - Other operating income surged by 382.67% year-on-year, totaling ¥787,796.15, mainly due to higher government subsidies received this quarter[16] - Net profit for Q1 2014 increased to CNY 4,886,434.96, representing a 48.2% increase from CNY 3,298,124.85 in Q1 2013[21] - Basic earnings per share for Q1 2014 rose to CNY 0.021, up from CNY 0.013 in Q1 2013[21] - Operating profit for Q1 2014 was CNY 4,891,886.33, compared to CNY 3,696,797.37 in Q1 2013, reflecting a growth of 32.3%[21] Assets and Liabilities - Total assets decreased by 4.63% to CNY 614,750,494.61 compared to the end of the previous year[10] - Total liabilities as of March 31, 2014, were CNY 217,334,897.12, down from CNY 250,034,685.66 at the end of 2013[20] - Total shareholders' equity as of March 31, 2014, was CNY 397,415,597.49, an increase from CNY 394,537,378.61 at the end of 2013[20] - Cash and cash equivalents decreased by 32.38% compared to the beginning of the year, totaling ¥35,964,110.18, primarily due to the repayment of short-term loans[16] - Accounts receivable increased by 48.18% compared to the beginning of the year, amounting to ¥115,634,905.12, driven by the expansion of sales activities[16] - Short-term borrowings decreased by 30% compared to the beginning of the year, totaling ¥30,000,000, primarily due to loan repayments[16] - The company reported a decrease in accounts payable to CNY 67,578,361.48 from CNY 68,780,097.65 in the previous quarter[20] Cash Flow - The company reported a net cash flow from operating activities of CNY 112,989.72, a significant improvement from a net outflow of CNY 29,657,127.29 in the previous year[10] - Operating cash inflow for Q1 2014 was CNY 149.64 million, up from CNY 110.25 million in Q1 2013, representing an increase of 35.7%[25] - Cash flow from investment activities showed a net outflow of CNY 726,994.00, compared to a larger outflow of CNY 3.39 million in Q1 2013[25] - Cash flow from financing activities resulted in a net outflow of CNY 31.72 million, slightly improved from CNY 1.81 million in Q1 2013[25] - The company reported a total cash outflow of CNY 31.72 million in financing activities, primarily due to debt repayments and dividend distributions[25] - The ending cash and cash equivalents balance was CNY 90.50 million, compared to CNY 83.15 million at the end of Q1 2013, reflecting an increase of 8.5%[25] Shareholder Information - The total number of shareholders reached 20,285 as of the report date[12] - The top ten shareholders held a combined 64.84% of the company's shares, with the largest shareholder holding 19.59%[12] Government Support and Other Factors - The company received government subsidies amounting to CNY 650,000.00 during the reporting period[11] - Non-current asset disposal loss was recorded at CNY 109,036.31, impacting overall profitability[11] - Tax payments increased by 272.95% year-on-year, totaling ¥6,650,666.09, due to higher actual tax payments compared to the previous year[16] - Cash paid for the purchase of fixed assets and intangible assets decreased by 78.57% year-on-year, amounting to ¥2,664,862.42, reflecting lower investment in fixed and intangible assets this quarter[16] - Other current liabilities increased by 92.20% compared to the beginning of the year, amounting to ¥1,516,590.72, mainly due to an increase in accrued expenses[16] - The company experienced a foreign exchange loss of CNY 975.76 during the quarter, impacting overall cash flow[25]