YIWU CCC(SH:600415)2014-04-29 16:00Financial Performance - Operating revenue rose by 10.46% to CNY 912.92 million year-on-year[13] - Net profit attributable to shareholders decreased by 45.45% to CNY 116.03 million compared to the same period last year[13] - The company forecasts a potential net profit decline of over 50% compared to the same period last year, primarily due to rental reductions and losses from newly opened projects[22] - Operating profit decreased to CNY 155,643,416.44 from CNY 279,267,598.45, a decline of about 44%[30] - The net profit for Q1 2014 was ¥65.81 million, down 70.69% from ¥224.35 million in Q1 2013[32] - The total profit for Q1 2014 was ¥90.09 million, down 69.66% from ¥297.07 million in Q1 2013[32] Assets and Liabilities - Total assets increased by 3.38% to CNY 24.88 billion compared to the end of the previous year[13] - Total assets as of March 31, 2014, amounted to CNY 22,078,659,017.57, compared to CNY 21,096,651,298.21 at the beginning of the year, showing an increase of about 4.6%[27] - Total liabilities increased to CNY 13,588,262,036.32 from CNY 12,672,064,508.38, an increase of approximately 7.2%[27] - Long-term receivables increased by CNY 436.78 million due to financial support provided to a joint venture[17] - Long-term receivables increased by 52.69% year-on-year to 1.27 billion RMB, indicating growth in financial assets[18] Cash Flow - Net cash flow from operating activities improved to -CNY 547.92 million, a reduction in loss compared to -CNY 1.15 billion in the previous year[13] - Cash received from other operating activities increased significantly by 656.10% year-on-year to 116.18 million RMB, mainly due to the maturity of fixed deposits and pre-allocated funds[21] - Cash paid for purchasing goods and services rose by 30.58% year-on-year to 634.29 million RMB, reflecting increased payments related to real estate project progress[21] - The net cash flow from operating activities was -¥372.55 million, an improvement from -¥1.14 billion in Q1 2013[36] - Cash and cash equivalents at the end of Q1 2014 were ¥275.84 million, compared to ¥224.26 million at the end of Q1 2013[36] Expenses - Sales expenses increased by 182.97% year-on-year, amounting to 52.17 million RMB, primarily due to the operational costs of the newly opened Crowne Plaza Hotel and increased marketing investments[19] - Management expenses rose by 47.62% year-on-year to 133.87 million RMB, mainly due to an increase in tax-related expenses[19] - Financial expenses surged by 162.19% year-on-year to 100.99 million RMB, attributed to the increase in interest-bearing liabilities and the cessation of capitalizing interest for new projects[20] - The company reported a significant increase in sales expenses, which rose to ¥54.18 million from ¥17.04 million, marking a 218.56% increase year-over-year[32] Shareholder Information - The number of shareholders reached 118,593 by the end of the reporting period[15] - The company reported a basic earnings per share of CNY 0.04, down from CNY 0.08 in the previous year[30] - Basic and diluted earnings per share for Q1 2014 were both ¥0.02, compared to ¥0.08 in the same period last year[32] Financing Activities - The company issued short-term financing bonds amounting to CNY 1.2 billion during the reporting period[17] - The company issued short-term financing bonds, resulting in cash inflow of 1.20 billion RMB during the reporting period[21] - The company raised ¥2.79 billion through borrowings in Q1 2014, compared to ¥996.77 million in the same period last year[36]