AVICHM(SH:600765)2014-04-29 16:00Financial Performance - Operating revenue for the first quarter was CNY 1.40 billion, representing a 5.74% increase year-on-year[9] - Net profit attributable to shareholders decreased by 8.71% to CNY 37.28 million compared to the same period last year[9] - Net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 8.77% to CNY 35.87 million[9] - The net profit attributable to the parent company for Q1 2014 was CNY 37,284,600, a decrease of CNY 3,558,000 or 8.7% compared to the same period last year, primarily due to a decline in gross margin[15] - The company's net profit for Q1 2014 was CNY 23,746,941.11, a decrease of 29.4% compared to CNY 33,600,909.39 in the same period last year[30] - The net profit attributable to the parent company was CNY 37,284,626.50, down from CNY 40,842,644.12, reflecting a decline of 6.3%[30] Assets and Liabilities - Total assets increased by 5.89% to CNY 12.84 billion compared to the end of the previous year[9] - Total assets as of March 31, 2014, amounted to CNY 12,843,366,106.81, compared to CNY 12,128,563,152.64 at the beginning of the year, representing an increase of 5.9%[22] - Total liabilities increased to CNY 8,545,066,704.13 from CNY 7,857,455,331.18, marking a rise of 8.7%[22] - Current liabilities totaled CNY 5,897,498,832.47, up from CNY 5,400,655,544.49, indicating an increase of 9.2%[22] - Non-current liabilities rose to CNY 2,647,567,871.66 from CNY 2,456,799,786.69, reflecting an increase of 7.8%[22] - Shareholders' equity as of March 31, 2014, was CNY 4,298,299,402.68, slightly up from CNY 4,271,107,821.46, a growth of 0.6%[22] Cash Flow - Cash flow from operating activities showed a negative net amount of CNY -134.30 million, compared to CNY -88.55 million in the same period last year[9] - The company's cash flow from operating activities saw a significant decrease of 82.71%, with cash received from operating activities dropping to CNY 4,128,490 from CNY 23,875,440 in the previous year[16] - The company reported a net cash outflow from operating activities of CNY -134,297,384.24, worsening from CNY -88,551,896.23 in the previous year[36] - Cash and cash equivalents decreased to CNY 19,698,585.47 from CNY 105,018,846.95, a decline of 81.2%[24] - Cash inflow from financing activities amounted to 105,000,000.00 CNY, while cash outflow was 64,328,007.77 CNY, resulting in a net cash flow of -64,328,007.77 CNY from financing activities[41] Shareholder Information - The total number of shareholders was 79,121 at the end of the reporting period[12] - The largest shareholder, Guizhou Jinjiang Aviation Hydraulic Co., Ltd., holds 29.48% of the shares, totaling 229,369,200 shares[12] Investment and Expenses - The company's fixed asset investment increased by 71.88%, reaching CNY 22,517,020 compared to CNY 13,100,220 in the same period last year, indicating a focus on capital expenditure[16] - The company incurred financial expenses of CNY 14,455,054.50, slightly down from CNY 15,155,984.18 in the previous year[32] - Management expenses were CNY 4,340,766.75, a decrease from CNY 4,678,147.33 year-over-year[32] - The company paid 20,000,000.00 CNY for investments in Q1 2014, significantly lower than 105,000,000.00 CNY in the same quarter last year[40] Tax and Dividends - The company reported a 46.31% reduction in tax payments, totaling CNY 3,134,720 compared to CNY 5,839,080 in the previous year[16] - The company's payable dividends decreased significantly by 88.83%, down to CNY 110,250 from CNY 987,430, due to payments made to minority shareholders[15] - The company distributed dividends and paid interest totaling 64,275,450.80 CNY in Q1 2014, slightly up from 63,520,346.80 CNY in the same period last year[41]