2014-04-28 16:00Financial Performance - Operating revenue for the first quarter reached CNY 22.39 billion, an increase of 8.97% year-on-year[10] - Net profit attributable to shareholders increased by 20.28% to CNY 867.47 million compared to the same period last year[10] - Operating income increased by 37.24% year-on-year, mainly due to an increase in government subsidies[18] - Total operating revenue for the period was CNY 22,397,832,405.37, an increase from CNY 18,590,577,837.48 in the previous period, reflecting a growth of approximately 20.4%[37] - Net profit for the period reached CNY 1,179,604,725.68, compared to CNY 976,899,222.25 in the previous period, representing an increase of about 20.7%[33] - Earnings per share (EPS) increased to 0.319 from 0.268, marking a growth of approximately 19.0%[33] - Operating profit for the period was CNY 1,354,110,625.59, up from CNY 1,104,145,051.08, indicating a rise of around 22.7%[33] - The total comprehensive income for the period was CNY 1,161,115,330.34, compared to CNY 996,573,659.79 in the previous period, showing an increase of approximately 16.5%[33] Asset and Liability Management - Total assets increased by 7.54% to CNY 65.62 billion compared to the end of the previous year[10] - Total assets increased to CNY 65.62 billion from CNY 61.02 billion, representing a growth of approximately 7.5% year-over-year[25] - Non-current assets totaled CNY 12.16 billion, up from CNY 11.47 billion, indicating an increase of about 6.0%[25] - Total liabilities rose to CNY 42.75 billion from CNY 41.02 billion, reflecting a year-over-year increase of approximately 4.2%[26] - Owner's equity increased to CNY 22.86 billion, compared to CNY 19.99 billion, marking a growth of around 14.5%[26] - The number of shareholders reached 73,003, with the top ten shareholders holding a combined 67.08% of shares[14] Cash Flow Analysis - Cash flow from operating activities increased by 4.96% to CNY 1.79 billion compared to the same period last year[10] - The company reported a significant increase in cash and cash equivalents, ending the period with CNY 23,846,509,867.48, compared to CNY 17,827,627,417.89 at the end of the previous period, reflecting a growth of approximately 33.9%[39] - The net cash flow from operating activities was -$75.61 million, compared to -$185.31 million in the previous period, showing an improvement of 59%[42] - Total cash outflow from operating activities amounted to $327.06 million, down from $345.83 million, indicating a decrease of approximately 5.2%[42] - The net increase in cash and cash equivalents was -$77.17 million, compared to -$143.27 million in the previous period, reflecting a 46% improvement[42] - The ending balance of cash and cash equivalents was $754.24 million, up from $169.47 million, indicating a substantial increase[42] - The company’s cash flow management strategies appear to be improving, as evidenced by the reduced cash outflows in operating activities[42] Business Segment Performance - The air conditioning business revenue grew by 18%, while the washing machine business revenue declined by 3%[10] - The gross margin for the refrigerator business improved by 2 percentage points year-on-year due to the increased share of leading products[10] Strategic Initiatives - The company has completed the introduction of strategic investors through a non-public offering, expected to raise up to 3.447 billion RMB[19] - The strategic cooperation with foreign investors aims to enhance the company's position in the global home appliance industry[19] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[33] Tax and Expenses - Income tax expenses increased by 36.69% year-on-year, attributed to higher profits[18] - Non-operating expenses rose by 73.32% year-on-year, primarily due to an increase in the disposal of non-current assets[18] - Sales expenses decreased to CNY 2,938,444,454.95 from CNY 2,788,374,863.38, indicating a reduction of about 5.4%[33]