HACL(SH:600598)2014-04-25 16:00Financial Performance - Total assets decreased by 21.38% to CNY 10.89 billion compared to the end of the previous year[12] - Net assets attributable to shareholders increased by 16.56% to CNY 5.69 billion compared to the end of the previous year[12] - Revenue decreased by 10.58% to CNY 1.88 billion compared to the same period last year[12] - Net profit attributable to shareholders increased by 422.41% to CNY 822.32 million compared to the same period last year[12] - Basic earnings per share increased by 420.22% to CNY 0.463 compared to the same period last year[12] - The weighted average return on equity increased by 12.57 percentage points to 15.53% compared to the same period last year[12] - Total operating revenue for Q1 2014 was CNY 1,879,976,816.16, a decrease of 10.67% compared to CNY 2,104,836,841.90 in the same period last year[40] - Net profit attributable to shareholders for Q1 2014 was CNY 822,319,996.70, up 4.13% from CNY 157,408,638.51 in Q1 2013[41] - Basic and diluted earnings per share for Q1 2014 were both CNY 0.463, significantly higher than CNY 0.089 in Q1 2013[41] Cash Flow and Liquidity - Operating cash flow increased by 75.73% to CNY 2.44 billion compared to the same period last year[12] - The company's cash and cash equivalents increased by 91.7 million yuan, representing a growth of 58% compared to the beginning of the year[22] - Cash inflow from operating activities was CNY 4,111,692,602.76, an increase from CNY 3,869,015,407.85 in Q1 2013[44] - The net cash flow from operating activities was CNY 1,904,269,680.12, an increase from CNY 1,640,765,177.50 in the previous period, representing a growth of approximately 16%[49] - Cash inflow from operating activities totaled CNY 2,506,198,813.54, compared to CNY 2,217,371,909.63 in the prior period, indicating a rise of about 13%[49] - The ending cash and cash equivalents balance was CNY 2,093,925,899.01, up from CNY 1,737,709,893.42 in the previous period[51] - The net increase in cash and cash equivalents was CNY 1,141,871,909.01, compared to CNY 808,852,284.42 previously[51] Assets and Liabilities - The total number of shareholders reached 143,458 at the end of the reporting period[16] - The largest shareholder, Heilongjiang Beidahuang Agricultural Group, holds 64.14% of the shares[16] - Total current assets decreased to ¥5,254,420,327.99 from ¥7,291,363,150.78, a decline of about 28%[33] - The company's total assets decreased to ¥10,890,313,188.97 from ¥13,852,429,951.54, reflecting a reduction of approximately 21%[35] - The total liabilities decreased to ¥5,094,029,797.85 from ¥8,860,860,977.75, a decrease of around 43%[35] - The company's total equity increased to ¥5,796,283,391.12 from ¥4,991,568,973.79, an increase of about 16%[35] - Total liabilities increased to CNY 3,865,354,040.58 in Q1 2014 from CNY 2,726,490,048.68 in the previous year, reflecting a growth of 41.78%[40] - The company’s total equity decreased to CNY 7,100,960,122.86 from CNY 7,344,510,994.36 in the previous year, a decline of 3.32%[40] Investments and Other Income - The company reported a government subsidy of CNY 4.39 million related to its core business during the reporting period[12] - Investment income surged by 64.20 million yuan, a staggering increase of 67149.6% due to the consolidation of financial results[27] - Investment income for Q1 2014 was CNY 642,973,879.61, a significant increase from CNY 956,083.07 in the same period last year[40] Inventory and Receivables - Accounts receivable decreased by 100.77 million yuan, a decline of 71% due to the disposal of equity in the rice industry company, resulting in a reduced consolidation scope[22] - Inventory decreased by 253.57 million yuan, a drop of 66.2%, primarily due to the same equity disposal[22] - The company's inventory decreased to ¥1,296,326,552.27 from ¥3,831,982,931.14, a reduction of about 66%[33] - The company's accounts receivable decreased to ¥643,811,815.40 from ¥718,339,956.41, a decline of approximately 10%[33] Borrowings and Financing - Short-term borrowings decreased significantly by 477.37 million yuan, a reduction of 92.3%, attributed to the disposal of the rice industry company[22] - The company reported a significant reduction in short-term borrowings, decreasing to ¥400,000,000.00 from ¥5,173,730,000.00, a decrease of approximately 92%[35] - The net cash flow from financing activities was -CNY 504,137,333.32, an improvement from -CNY 825,840,086.12 in the previous period[51] - Cash inflow from financing activities totaled CNY 205,780,000.00, while cash outflow was CNY 709,917,333.32[50] Asset Disposal and Transactions - The company completed the asset disposal and related transactions with Heilongjiang North Daba Agricultural Group, resolving previous audit issues[28] - The company's net profit is expected to increase significantly due to the disposal of a loss-making subsidiary, which will contribute to earnings in the consolidated financial statements[30]