EASTCOM(SH:600776)2014-04-29 16:00Financial Performance - Operating revenue for the first quarter reached CNY 601,657,948.28, representing a 15.33% increase year-on-year[9] - Net profit attributable to shareholders decreased by 48.28% to CNY 23,569,439.55 compared to the same period last year[9] - Basic earnings per share fell by 48.28% to CNY 0.019 per share[9] - The company's net profit attributable to shareholders decreased by 48.28% to ¥23,569,439.55, primarily due to last year's project liquidation gains[18] - Net profit for Q1 2014 was CNY 23,797,584.82, a decrease of 47.3% from CNY 45,018,283.91 in Q1 2013[30] Assets and Liabilities - Total assets increased by 2.19% to CNY 3,515,263,924.22 compared to the end of the previous year[9] - Total assets amounted to ¥3,515,263,924.22, up from ¥3,439,765,070.39 at the beginning of the year[23] - The company's total assets increased to CNY 3,141,479,386.36 in Q1 2014, compared to CNY 3,048,627,048.70 in Q1 2013, reflecting a growth of 3.0%[27] - The company's total liabilities reached CNY 829,320,828.62, an increase of 9.6% from CNY 756,186,231.85 in Q1 2013[27] Cash Flow - Cash flow from operating activities showed a negative net amount of CNY -254,525,575.17, compared to CNY -174,985,568.81 in the previous year[9] - The net cash flow from operating activities was -196,045,607.79 RMB, compared to -45,346,548.53 RMB in the previous period, indicating a significant decline in operational cash flow[38] - Total cash inflow from investment activities was 70,945,131.10 RMB, down from 349,319,559.75 RMB in the previous period, reflecting a decrease of approximately 79.7%[39] - Cash and cash equivalents at the end of the period were 477,327,280.97 RMB, down from 1,191,812,757.79 RMB in the previous period, representing a decline of approximately 60%[40] - The total cash outflow from operating activities was 424,646,613.14 RMB, compared to 359,027,359.66 RMB in the previous period, indicating an increase of about 18.3%[38] Shareholder Information - The total number of shareholders as of the report date was 71,930[12] - The largest shareholder, Putian Oriental Communication Group Co., Ltd., holds 48.13% of the shares[13] Operational Costs and Expenses - Total operating costs for Q1 2014 were CNY 598,811,527.99, up 21.9% from CNY 491,068,628.09 in the same period last year[30] - Sales expenses surged by 113.00% to ¥19,700,169.89, driven by market expansion in the communication and financial sectors[6] - The company reported a significant increase in sales expenses, which rose to CNY 19,700,169.89, up 112.5% from CNY 9,248,819.30 in Q1 2013[30] Inventory and Receivables - Inventory rose by 41.91% to ¥735,692,754.86, attributed to increased procurement of raw materials[6] - Accounts receivable rose to CNY 447,467,484.82, up 16.0% from CNY 385,662,822.34 year-over-year[26] - Inventory increased significantly to CNY 734,839,059.88, a rise of 42.0% compared to CNY 517,560,888.10 in the previous year[26] Investment Income - Investment income fell by 39.98% to ¥11,542,191.90, primarily due to decreased earnings from affiliated companies[6] - Operating income from non-operating activities increased by 80.61% to ¥15,533,753.68, mainly due to higher government subsidies[6] Financial Commitments - The company committed to not providing financial assistance for stock incentive plans, ensuring compliance with its commitments[19] Audit Status - The report indicates that the financial statements for the first quarter have not been audited[6]