CBEST(SH:600729)2014-04-28 16:00Financial Performance - Operating revenue increased by 2.19% to CNY 9,028,952,843.55 year-on-year[9] - Net profit attributable to shareholders increased by 4.80% to CNY 313,936,390.11 compared to the same period last year[9] - Total operating revenue for the current period reached ¥9,028,952,843.55, an increase of 2.4% compared to ¥8,835,127,080.50 in the previous period[41] - Net profit for the current period was ¥315,095,757.88, compared to ¥300,854,118.04 in the previous period, indicating a growth of 4.7%[42] - Operating revenue for Q1 2014 reached ¥3,897,481,488.81, an increase of 15.6% compared to ¥3,371,682,806.44 in the same period last year[44] - Net profit for Q1 2014 was ¥111,505,201.77, down 63.3% from ¥303,528,846.09 in Q1 2013[45] Assets and Liabilities - Total assets decreased by 7.24% to CNY 10,630,610,069.32 compared to the end of the previous year[9] - Total liabilities also decreased to ¥5,932,256,248.27 from ¥7,077,514,470.07, representing a reduction of about 16.1%[34] - The total current assets decreased to CNY 7,047,718,949.41 from CNY 8,095,363,648.27, indicating a reduction of about 12.93%[32] - Inventory levels decreased to CNY 1,496,621,217.88 from CNY 1,832,785,979.42, reflecting a decline of approximately 18.35%[32] - Accounts receivable increased by 41.92% to CNY 55,562,866.17 due to increased sales on a post-sale payment basis[15] Cash Flow - Net cash flow from operating activities decreased by 33.06% to CNY -416,195,057.51[9] - Cash and cash equivalents at the end of Q1 2014 totaled ¥2,351,777,481.08, a decrease from ¥2,171,989,520.07 in the same period last year[50] - The company reported a net cash outflow from operating activities of ¥416,195,057.51, compared to a net outflow of ¥312,778,868.60 in the previous year[49] - Investment activities generated a net cash inflow of ¥23,583,851.52, a significant improvement from a net outflow of ¥322,817,110.40 in Q1 2013[53] Shareholder Information - The number of shareholders reached 16,896, with the largest shareholder holding 49.94% of the shares[14] - The long-term dividend plan is outlined in the company's announcement dated October 30, 2012, ensuring a commitment to shareholder returns[30] Related Party Transactions - The company is actively reducing and regulating related party transactions with Chongqing Shangshe Group, ensuring no harm to the rights of other shareholders[23] - The company has no current competition with Chongqing Shangshe Group and is committed to avoiding any future competition[24] Investment and Construction - The company increased its construction in progress by 205 million yuan for the Hechuan Zhongao project[19] - The company has committed to not using the proceeds from its non-public offering for real estate development or financial investments, ensuring compliance with regulatory requirements[26] - The company raised CNY 59,741.52 million from its non-public offering, which has been fully allocated to supplement working capital[26] Financial Management - Financial expenses decreased by 98.35% to CNY 6,487.33, attributed to increased net interest income[18] - Investment income decreased by 40.41% to CNY 2,195,169.83 due to reduced interest from recovered entrusted loans[18] - The company experienced a 31.85% decline in non-operating income, totaling CNY 3,227,722.34, primarily due to a decrease in government subsidies received[18] Compliance and Risk Management - The company is actively managing its property assets to mitigate risks and ensure compliance with regulations regarding property usage[30] - The company has committed to addressing any potential disputes regarding property leases to ensure continued business operations[28] - The company has not faced any significant adverse impacts from property ownership issues, maintaining operational stability[29]