SMEG(SH:600689)2014-04-29 16:00Financial Performance - Operating revenue for the first quarter was ¥326,233,603.24, a decrease of 50.87% year-on-year[10] - Net profit attributable to shareholders was -¥9,742,157.74, showing an improvement from -¥39,105,369.25 in the same period last year[10] - The weighted average return on net assets was -3.10%, improving from -11.40% year-on-year[10] - Total operating revenue for Q1 2014 was CNY 326,233,603.24, a decrease of 50.9% compared to CNY 663,962,492.66 in the same period last year[26] - Net profit for Q1 2014 was a loss of CNY 9,937,765.52, compared to a loss of CNY 39,317,773.29 in the previous year, representing a 74.7% improvement[27] - The company reported a comprehensive loss of CNY 8,163,160.52 for Q1 2014, significantly better than the loss of CNY 39,155,128.29 in the previous year[27] Cash Flow - The net cash flow from operating activities was ¥1,931,300.47, a significant recovery from -¥93,942,459.54 in the previous year[10] - The net cash flow from operating activities showed a drastic change, with a net outflow of ¥93,942,459.54 compared to a net inflow of ¥1,931,300.47 in the previous year, reflecting a 102.06% decline[17] - The net cash flow from investing activities decreased by 31.97%, amounting to -¥15,370,464.44, due to reduced investment in construction projects[17] - The net cash flow from financing activities dropped by 92.17%, totaling ¥9,747,981.82, primarily due to changes in the consolidation scope[17] - Operating cash inflow decreased to CNY 403.28 million from CNY 588.43 million, a decline of approximately 31.5% year-over-year[31] - Net cash flow from operating activities turned positive at CNY 1.93 million, compared to a negative CNY 93.94 million in the previous period[31] - Cash inflow from financing activities decreased to CNY 51.13 million from CNY 204.50 million, a drop of approximately 75%[32] - Net cash flow from financing activities decreased to CNY 9.75 million from CNY 124.48 million, indicating reduced financing activities[32] Assets and Liabilities - Total assets at the end of the reporting period reached ¥890,235,349.75, an increase of 0.49% compared to the previous year-end[10] - The company's accounts receivable increased by 59.47% year-on-year, reaching ¥44,527,754.39, due to uncollected business income[16] - Investment properties rose by 56.62% to ¥355,560,188.05, attributed to the delivery of the Binjiang International Plaza property[16] - The construction in progress decreased significantly by 96.53%, down to ¥4,088,387.91, also due to the delivery of the Binjiang International Plaza property[16] - The total liabilities rose to ¥565,529,129.15, up from ¥553,027,177.32, indicating an increase in financial obligations[22] - The company's equity attributable to shareholders decreased to ¥310,447,608.44 from ¥318,415,161.18, showing a decline in shareholder value[22] Shareholder Information - The total number of shareholders was 35,351 at the end of the reporting period[13] - The largest shareholder, Chongqing Light Textile Holdings Group, held 25.95% of the shares, totaling 52,158,943 shares[13] Expenses - The company reported a decrease in sales expenses by 57.68% to ¥9,804,728.79 due to reduced business volume[15] - Management expenses were reduced by 33.60% to ¥15,480,712.99, also due to changes in the consolidation scope[15] - Asset impairment losses decreased by 96.29% to ¥1,379,127.43, attributed to changes in the scope of consolidation[15]