LZCIC(SH:600423)2014-04-24 16:00Financial Performance - Net profit attributable to shareholders was a loss of CNY 20,890,198.69, compared to a loss of CNY 14,055,350.89 in the same period last year[10] - Operating revenue decreased by 3.99% to CNY 677,740,347.16 compared to the same period last year[10] - The net loss for Q1 2014 was CNY 21,518,329.56, compared to a net loss of CNY 14,847,717.81 in Q1 2013, representing an increase in loss of 44.8%[31] - Basic and diluted earnings per share for Q1 2014 were both -CNY 0.05, compared to -CNY 0.04 in the same period last year[31] - Operating revenue for Q1 2014 was ¥534.68 million, a decrease of 16.2% compared to ¥638.06 million in the same period last year[35] - Net profit for Q1 2014 was a loss of ¥21.79 million, compared to a profit of ¥6.94 million in Q1 2013, indicating a significant decline[35] Assets and Liabilities - Total assets increased by 3.19% to CNY 4,439,919,159.41 compared to the end of the previous year[10] - The total assets as of March 31, 2014, amounted to CNY 4,379,597,787.60, an increase from CNY 4,028,323,398.65 at the beginning of the year[28] - The total liabilities increased to CNY 2,990,486,828.90 from CNY 2,617,424,776.49, reflecting a rise of 14.2%[28] - The company's non-current assets totaled RMB 2,839,259,267.19, down from RMB 2,874,583,353.62, indicating a decrease of approximately 1.2%[23] Cash Flow - Cash flow from operating activities increased by 9.04% to CNY 80,722,034.32 compared to the same period last year[10] - The company's cash flow from operating activities was CNY 437,464,940.83, a significant decrease from CNY 614,030,718.25 in the previous year[34] - Cash inflow from financing activities was ¥781.40 million, up 12.1% from ¥697.00 million in the same period last year[37] - Cash outflow for debt repayment was ¥585.40 million, an increase of 19.2% compared to ¥491.00 million in Q1 2013[37] - Cash flow from operating activities generated a net inflow of ¥80.72 million, an increase of 9.1% from ¥74.03 million in the previous year[36] Shareholder Information - The number of shareholders increased to 37,648[13] Acquisitions and Investments - The company plans to acquire 95.5% equity of Hunan Zhongcheng Chemical Co., Ltd. for CNY 27,715.94 million[16] - The company plans to acquire 95% equity in Dongguan Zhenhua Taifeng Industrial Development Co., Ltd. and 95.5% equity in Hunan Zhongcheng Chemical Co., Ltd., with a total transaction price of RMB 277.16 million[18] - The company has committed to resolving related party transactions through the acquisition of relevant equity, which is currently under review by the Guangxi State-owned Assets Supervision and Administration Commission[18] - The company is in the process of acquiring assets from Guangdong Zhongcheng Chemical Co., Ltd., which is expected to enhance its market position[18] Inventory and Receivables - Accounts receivable rose to RMB 207,657,029.40 from RMB 165,042,624.48, indicating an increase of about 25.9%[22] - Inventory decreased to RMB 452,576,437.06 from RMB 485,643,583.13, showing a decline of approximately 6.8%[22] - Inventory decreased significantly to CNY 270,824,864.91 from CNY 380,461,683.69, a reduction of 28.8%[27] Cash and Cash Equivalents - Cash and cash equivalents decreased by 41.17% compared to the same period last year[15] - The company's cash and cash equivalents rose to CNY 272,307,276.28 from CNY 220,573,233.36, indicating a growth of 23.4%[26] - Total cash and cash equivalents at the end of Q1 2014 were ¥191.46 million, down 41.1% from ¥325.48 million at the end of Q1 2013[37] Operating Costs - Total operating costs for Q1 2014 were CNY 699,971,929.53, down 2.9% from CNY 720,886,427.93 year-on-year[30] - The company reported a 40.35% decrease in business tax and additional fees due to reduced VAT payable[14] - The company's cash and cash equivalents increased to RMB 318,464,678.44 from RMB 272,386,055.20 at the beginning of the year, reflecting a growth of approximately 16.9%[22] Expenses - The company reported a decrease in sales expenses to ¥21.25 million, down 16.8% from ¥25.53 million in Q1 2013[35] - Management expenses decreased to ¥24.36 million, a reduction of 17.5% from ¥29.51 million in the same period last year[35] - Financial expenses were ¥31.51 million, slightly down from ¥33.25 million in Q1 2013, reflecting a decrease of 5.2%[35]