Shede Spirits (SH:600702)2014-04-24 16:00Financial Performance - Net profit attributable to shareholders decreased by 86.03% to CNY 8,037,674.07 year-on-year[6] - Operating revenue declined by 24.04% to CNY 349,006,731.42 compared to the same period last year[6] - The company reported a significant decrease in net profit due to lower sales and increased costs[9] - Total revenue for Q1 2014 was CNY 349,006,731.42, a decrease of 24.1% compared to CNY 459,480,937.41 in the same period last year[22] - Operating profit for Q1 2014 was CNY 14,027,535.33, down 83.2% from CNY 83,505,021.05 in Q1 2013[22] - Net profit for Q1 2014 was CNY 8,037,674.07, a decline of 86.0% compared to CNY 57,534,873.82 in Q1 2013[22] - Basic and diluted earnings per share dropped by 86.05% to CNY 0.0238[6] - Basic and diluted earnings per share for Q1 2014 were both CNY 0.0238, down from CNY 0.1706 in the previous year[23] Cash Flow - Cash flow from operating activities showed a negative net amount of CNY -57,611,410.34, a decrease of 126.08% year-on-year[6] - Operating cash flow net amount decreased by 126.08% to -¥57,611,410.34, primarily due to a reduction in cash received from sales[11] - Total cash inflow from operating activities was 353,393,124.57 RMB, while cash outflow was 411,004,534.91 RMB, resulting in a cash flow deficit[27] - Cash inflow from financing activities was 135,000,000.00 RMB, with a net cash flow of 78,651,920.63 RMB after outflows[28] - Cash outflow for investing activities totaled 20,351,273.75 RMB, leading to a net cash flow of -19,861,110.04 RMB[27] - The company experienced a net decrease in cash and cash equivalents of 1,179,400.25 RMB during the quarter[28] Assets and Liabilities - Total assets increased by 0.98% to CNY 3,441,243,527.83 compared to the end of the previous year[6] - Total assets as of March 31, 2014, amounted to ¥3,441,243,527.83, compared to ¥3,407,895,808.43 at the beginning of the year[14] - Total liabilities increased to ¥1,194,398,530.68 from ¥1,169,088,485.35, with short-term borrowings rising to ¥475,000,000.00 from ¥390,000,000.00[14] - Total liabilities at the end of Q1 2014 were CNY 1,167,511,298.47, up from CNY 1,104,697,002.06 at the beginning of the year[20] - Current assets totaled CNY 2,076,049,001.73 at the end of Q1 2014, compared to CNY 2,032,741,038.69 at the start of the year[19] - Inventory at the end of Q1 2014 was CNY 1,864,826,260.15, an increase from CNY 1,826,623,640.78 at the beginning of the year[19] - Cash and cash equivalents decreased to CNY 92,545,363.54 from CNY 99,887,435.85 at the beginning of the year[19] Shareholder Information - The total number of shareholders reached 49,037 at the end of the reporting period[8] - The largest shareholder, Sichuan Tuopai Shede Group Co., Ltd., holds 29.85% of the shares[8] Other Financial Metrics - The weighted average return on net assets decreased by 2.07 percentage points to 0.36%[6] - The company's net profit for the current period is expected to show significant changes compared to the same period last year, with a warning issued regarding potential losses[11] - The company reported a total operating cost of CNY 340,270,430.25 for Q1 2014, down 10.7% from CNY 380,953,887.33 in the same period last year[22] - The company paid 51,748,001.62 RMB in taxes during the quarter, a decrease from 146,065,656.15 RMB in the same period last year[27] - Accounts receivable increased by 66.32% to ¥51,594,991.77 compared to ¥31,022,136.04 in the previous period, mainly due to increased credit sales to a small number of old customers[11] - Prepayments surged by 169.65% to ¥11,383,630.94 from ¥4,221,660.00, primarily due to advance payments for the pharmaceutical expansion project[11] - Revenue from operating taxes and additional charges decreased by 40.75% to ¥37,067,087.77, reflecting a decline in sales compared to the previous year[11] - Sales expenses dropped by 37.93% to ¥82,336,819.70, mainly due to reduced advertising and promotional costs[11] - The financial statements for the first quarter have not been audited[5]