CHIXIA DEVELOPMENT(SH:600533)2014-04-25 16:00Financial Performance - Operating revenue for the first quarter reached CNY 814,237,318.17, a 99.33% increase year-on-year [15]. - Net profit attributable to shareholders decreased by 62.01% to CNY 15,555,369.66 compared to the same period last year [10]. - The gross profit margin decreased, leading to a 68.82% drop in total profit to CNY 24,732,432.30 [15]. - Operating profit decreased to ¥27,259,776.12 from ¥79,166,983.91, reflecting a decline of about 65.6% [32]. - Net profit for the current period was ¥16,975,124.99, down from ¥56,713,912.09, indicating a decrease of approximately 70.0% [32]. - Basic earnings per share fell to ¥0.0148 from ¥0.0390, a decline of about 62.0% [33]. Assets and Liabilities - Total assets increased by 5.25% to CNY 14,765,720,755.86 compared to the end of the previous year [10]. - The company's total assets reached CNY 14.77 billion at the end of Q1 2014, up from CNY 14.03 billion at the beginning of the year [25]. - Total liabilities of the company as of March 31, 2014, amounted to CNY 11.01 billion, compared to CNY 10.16 billion at the beginning of the year, reflecting an increase of approximately 8.3% [25]. - Total liabilities rose to ¥8,597,224,863.30 from ¥7,783,118,357.80, an increase of about 10.5% [29]. - Current liabilities totaled ¥5,987,591,827.78, up from ¥4,560,709,248.04, reflecting a growth of approximately 31.2% [29]. Cash Flow - Cash flow from operating activities showed a net outflow of CNY 351,604,467.74, an improvement from the previous year's outflow of CNY 474,035,466.68 [15]. - Operating cash inflow for the current period was CNY 1,060,957,522.87, a slight decrease from CNY 1,087,440,833.93 in the previous period [36]. - Net cash flow from operating activities was negative CNY 351,604,467.74, improving from negative CNY 474,035,466.68 year-over-year [36]. - Total cash inflow from operating activities was CNY 982,717,203.85, significantly higher than CNY 505,241,821.16 in the previous period [40]. - The net cash flow from operating activities improved to CNY 72,489,345.66 from negative CNY 472,441,676.40 year-over-year [40]. Shareholder Information - The company's major shareholder, Nanjing Qixia Construction Group Co., Ltd., holds a 34.34% stake [10]. - The number of shareholders increased to 64,264 by the end of the reporting period [10]. Inventory and Construction - The total area of unsold projects at the end of Q1 2014 was 66.06 million square meters, indicating a significant inventory level [20]. - The total area of projects under construction in Q1 2014 reached 153.37 million square meters, with a planned construction area of 326.74 million square meters [20]. - The cumulative contract sales area as of the end of Q1 2014 was 48.27 million square meters for Nanjing Happiness City, with a turnover area of 11.93 million square meters [22]. - The company reported a total of 2.35 million square meters of new construction area in Q1 2014, with no projects completed during the same period [18]. Financial Position Changes - The company's cash and cash equivalents increased to approximately CNY 1.53 billion by the end of Q1 2014, up from CNY 1.44 billion at the beginning of the year [23]. - The company's equity attributable to shareholders decreased to approximately CNY 3.61 billion by the end of Q1 2014, down from CNY 3.70 billion at the beginning of the year [25]. - The company's prepayments increased to approximately CNY 2.25 billion by the end of Q1 2014, compared to CNY 1.77 billion at the beginning of the year [23]. Borrowings - Short-term borrowings increased significantly by 500% to CNY 300,000,000.00 compared to the previous period [14]. - The company's long-term borrowings decreased to ¥2,459,000,000.00 from ¥3,027,000,000.00, a reduction of about 18.7% [29].