Phoenix Property(SH:600716)2014-04-25 16:00Financial Performance - Operating revenue for the first quarter was RMB 240,484,410.00, representing a significant increase of 639.03% compared to RMB 32,540,710.00 in the same period last year[9] - Net profit attributable to shareholders of the listed company was RMB 27,741,870.11, a turnaround from a loss of RMB 9,156,269.49 in the previous year[9] - Basic earnings per share for the quarter was RMB 0.0375, compared to a loss of RMB 0.0124 per share in the same period last year[9] - The weighted average return on net assets was 1.35%, improving from -0.51% in the previous year[9] - Operating profit was ¥40,683,567.18, a significant improvement from a loss of ¥12,895,273.58 in the previous period[34] - Net profit for the period was ¥27,611,021.94, compared to a net loss of ¥9,524,352.10 in the prior period[35] Cash Flow - The company reported a net cash flow from operating activities of -RMB 116,085,216.62, an improvement from -RMB 289,843,281.63 in the previous year[9] - Cash inflow from operating activities totaled ¥297,878,167.97, up from ¥242,663,530.63 in the prior period[38] - Cash outflow from operating activities was ¥413,963,384.59, compared to ¥532,506,812.26 in the previous period[39] - Cash and cash equivalents at the end of the period were ¥990,748,092.74, compared to ¥858,353,696.69 at the end of the previous period[41] Assets and Liabilities - Total assets at the end of the reporting period amounted to RMB 7,661,906,922.57, a decrease of 2.03% compared to the end of the previous year[9] - Total current assets decreased from CNY 6,954,920,021.66 at the beginning of the year to CNY 6,808,662,571.55, a decline of approximately 2.1%[25] - Total liabilities decreased from CNY 5,661,159,613.35 to CNY 5,474,930,990.92, a reduction of approximately 3.3%[27] - Long-term borrowings increased from CNY 1,430,000,000.00 to CNY 1,630,000,000.00, an increase of about 14%[27] - Total equity increased from CNY 2,159,364,909.71 to CNY 2,186,975,931.65, reflecting a growth of approximately 1.3%[27] Shareholder Information - The total number of shareholders at the end of the reporting period was 21,184[12] - Jiangsu Phoenix Publishing and Media Group Co., Ltd. held 61.51% of the shares, making it the largest shareholder[12] Operational Changes - The company has committed to maintaining independence in operations, assets, personnel, finance, and institutions post-restructuring to enhance competitiveness and sustainability[17] - The company plans to minimize related party transactions following the completion of major asset restructuring, ensuring compliance with legal and regulatory requirements[16] - The company anticipates potential significant changes in cumulative net profit compared to the previous year, indicating a need for caution[19] Inventory and Receivables - Inventory increased from CNY 5,247,110,516.40 to CNY 5,746,396,974.79, representing a growth of about 9.5%[25] - The company reported a significant decrease in accounts receivable, down 100% to CNY 0, as it received payments for housing sales[14] - Prepayments decreased by 87.01% to CNY 48,374,594.43, due to the establishment of the Taixing project company and the transfer of payables to inventory accounting[14] - Other receivables decreased slightly from CNY 2,572,629.53 to CNY 2,162,665.56, a drop of approximately 15.9%[25] Tax and Financial Expenses - The company paid CNY 102,752,935.87 in taxes, a 510.95% increase compared to the previous year, due to corporate income tax payments in Q1[14] - Financial expenses rose by 37.66% to CNY 12,522,878.18, influenced by interest payments related to the Rui project[14]