凤竹纺织(600493) - 2014 Q1 - 季度财报

Financial Performance - Operating revenue decreased by 23.72% to CNY 130,473,818.82 compared to the same period last year[10] - Net profit attributable to shareholders was a loss of CNY 2,471,195.57, an improvement from a loss of CNY 7,699,413.09 in the previous year[10] - The company reported a net profit of CNY 1,000,000 for Q1 2014, compared to a net profit of CNY 1,500,000 in Q1 2013, indicating a decrease of 33.3%[32] - The company's operating revenue for Q1 2014 was CNY 105,610,425.97, a decrease of 13.14% compared to CNY 121,539,956.36 in the same period last year[36] - The net profit for Q1 2014 was a loss of CNY 2,471,195.57, compared to a loss of CNY 7,699,413.09 in Q1 2013, indicating an improvement in performance[33] Cash Flow - Net cash flow from operating activities was CNY 35,820,554.49, a significant turnaround from a negative cash flow of CNY 6,283,626.77 in the same period last year[10] - The net cash flow from operating activities for Q1 2014 was CNY 35,820,554.49, a significant recovery from a negative cash flow of CNY 6,283,626.77 in the same period last year[37] - The total cash inflow from operating activities was CNY 166,611,884.30, down from CNY 184,991,554.02 in Q1 2013[37] - The total cash outflow from operating activities was CNY 130,791,329.81, compared to CNY 191,275,180.79 in the previous year, reflecting improved cost management[37] - The net cash flow from financing activities was CNY 13,333,491.24, a recovery from a negative cash flow of CNY 16,912,032.93 in Q1 2013[38] - The net cash flow from financing activities was 19,015,852.15, a turnaround from -16,589,692.55 in the previous year[41] Assets and Liabilities - Total assets increased by 1.95% to CNY 1,202,381,661.13 compared to the end of the previous year[10] - The company's total assets reached CNY 1,202,381,661.13, up from CNY 1,179,346,878.14 at the beginning of the year, reflecting a growth of 2.0%[26] - Total liabilities rose to CNY 577,088,515.27 from CNY 551,582,536.71, marking an increase of 4.6%[26] - The company's current assets increased to CNY 496,559,394.17 from CNY 488,277,663.78 at the beginning of the year, reflecting a growth of 5.2%[25] - Inventory levels rose to CNY 254,005,851.93, compared to CNY 239,946,534.99 at the start of the year, indicating an increase of 5.3%[25] Shareholder Information - The number of shareholders reached 20,007, with the top ten shareholders holding a combined 55.66% of shares[12] - The company has committed to a minimum cash dividend distribution of 10% of the distributable profit for each fiscal year, with a cumulative distribution of at least 30% of the average annual distributable profit over the next three years[22] - The company has committed to not engaging in competitive activities that threaten its main business during its shareholding period[22] Government Support and Investments - The company received government subsidies totaling CNY 8,712,000.00 during the period, contributing positively to financial performance[11] - The company has received increased government subsidies, contributing to higher non-operating income[21] - The company reported a 150.98% increase in prepaid accounts to CNY 25,270,954.26, indicating increased purchases of cotton by subsidiaries[17] - The company recorded an investment cash outflow of CNY 48,714,386.18 in Q1 2014, compared to CNY 7,036,262.52 in the same period last year, indicating increased investment activities[38] Future Plans - The company plans to establish a new factory in Anyang to expand its market scale and enhance its competitive advantages in technology, management, and funding[20] - The registered capital for the new project in Anyang is 120 million RMB, which has been fully paid up[20] - The company is in the preparatory stage for the new project, which is expected to leverage the favorable industrial conditions in Anyang[20] Financial Ratios and Performance Metrics - The company’s weighted average return on equity improved to -0.3944% from -1.2512% year-on-year[10] - The basic and diluted earnings per share for Q1 2014 were both -0.0091, an improvement from -0.0283 in Q1 2013[33] - The company has reported an increase in asset impairment losses due to higher provisions for inventory write-downs[21]