SHSTC(SH:600620)2014-04-29 16:00Financial Performance - Net profit attributable to shareholders decreased by 66.09% to CNY 50,379,992.65 compared to the same period last year[12] - The net profit attributable to the parent company was CNY 50.38 million, a decrease of CNY 98.20 million or 66.09% compared to the same period last year, primarily due to the previous year's profit increase from the sale of available-for-sale financial assets[25] - Net profit for the period was CNY 49,976,420.72, compared to CNY 148,211,915.93 in the same period last year, indicating a decline[39] - Earnings per share (EPS) decreased to CNY 0.1101 from CNY 0.3246 year-over-year[39] Revenue and Income - Operating income for the first quarter was CNY 10,068,656.81, a slight increase of 0.15% year-on-year[12] - Total revenue for Q1 2014 was CNY 10,068,656.81, a slight increase from CNY 10,053,119.72 in the previous period[39] - Investment income dropped by 66.38% to CNY 59,821,429.07 compared to the same period last year[21] - Investment income for the period was CNY 59,821,429.07, down from CNY 177,931,670.08 in the previous year[39] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 6,767,741.36, an improvement from a larger outflow of CNY 9,373,504.67 in the previous year[12] - Cash flow from operating activities was CNY 12,200,529.22, compared to CNY 13,370,085.98 in the previous period[42] - Operating cash flow for Q1 2014 was -6,767,741.36 RMB, a decrease from -9,373,504.67 RMB in the same period last year, indicating an improvement of approximately 28%[43] - Total cash inflow from investment activities was 42,073,749.50 RMB, compared to 221,290,535.26 RMB in the previous year, reflecting a significant decline of about 81%[44] - The net increase in cash and cash equivalents for Q1 2014 was 24,102,824.64 RMB, compared to 193,892,798.92 RMB in the same period last year, a decrease of about 87%[44] - Cash received from investment income was 29,922,188.50 RMB, an increase from 17,098,393.40 RMB in the previous year, marking a growth of about 75%[47] Assets and Liabilities - Total assets increased by 5.97% to CNY 998,687,705.45 compared to the end of the previous year[12] - The total assets as of March 31, 2014, amounted to CNY 998.69 million, an increase from CNY 942.39 million at the beginning of the year[32] - The total liabilities as of March 31, 2014, were CNY 165.23 million, compared to CNY 153.34 million at the beginning of the year[33] - Total liabilities rose slightly to CNY 309,468,563.72 from CNY 304,703,316.53[37] - The total equity attributable to the parent company was CNY 874.20 million, an increase from CNY 829.38 million at the beginning of the year[33] - Shareholder equity increased to CNY 955,222,297.52 from CNY 900,502,158.01[37] Expenses - Management expenses decreased by 55.53% to CNY 11,137,159.77 due to reduced labor costs[24] - The company reported a significant reduction in financial expenses by 97.38% to CNY 61,581.55 due to decreased bank loans[24] - Total operating costs decreased significantly to CNY 19,950,293.46 from CNY 35,416,429.92, with operating costs specifically at CNY 8,562,567.68 compared to CNY 7,826,114.85 previously[39] - Cash paid to employees was 10,442,267.22 RMB, down from 11,927,760.95 RMB in the previous year, reflecting a reduction of about 13%[43] Shareholder Information - The number of shareholders totaled 42,844 at the end of the reporting period[15] - The largest shareholder, Shanghai Zhongsheng Hongqiao Enterprise Management Co., Ltd., holds 25.08% of the shares[15] Commitments and Policies - The company has committed to avoiding unfair related transactions and ensuring fair market pricing in any related transactions with its controlling shareholders[26] - The company has also committed to not engaging in any competitive activities in the real estate sector while being controlled by its current shareholders[27]