SCSF(SH:600779)2014-04-25 16:00Financial Performance - Net profit attributable to shareholders decreased by 174.95% to CNY -85,482,620.09, compared to CNY 114,054,446.17 in the same period last year[14] - Operating revenue fell by 77.03% to CNY 74,314,700.65, down from CNY 323,532,486.69 year-on-year[14] - Basic earnings per share dropped by 175.11% to CNY -0.175 from CNY 0.233 in the same period last year[14] - Operating profit for the current period was a loss of CNY 104,092,767.03, compared to a profit of CNY 119,766,840.39 in the previous period[36] - The company reported a net loss of ¥85,482,620.09 for the current period, compared to a net profit of ¥115,435,506.46 in the previous period[37] - Operating revenue decreased to ¥48,728,355.27, a decline of approximately 45% from ¥88,902,945.43 in the previous period[39] - Operating profit for the current period was -¥26,696,821.08, worsening from -¥14,506,761.19 in the previous period[39] Assets and Liabilities - Total assets decreased by 3.95% to CNY 1,980,098,768.82 compared to the end of the previous year[14] - Total liabilities increased slightly from CNY 429,427,002.48 to CNY 433,433,501.60, showing a growth of about 0.9%[29] - Owner's equity decreased from CNY 1,632,147,887.31 to CNY 1,546,665,267.22, a decline of approximately 5.2%[29] - Cash and cash equivalents decreased from CNY 176,940,328.96 to CNY 104,772,885.23, a drop of about 40.8%[31] - As of March 31, 2014, the company's total current assets amounted to 1,131,083,264.37 RMB, down from 1,222,554,130.26 RMB at the beginning of the year[27] Cash Flow - Cash flow from operating activities showed a net outflow of CNY -61,978,440.25, an improvement of 8.88% compared to the previous year[14] - The company reported a significant decrease in cash inflow from operating activities, totaling ¥104,610,561.75, down from ¥238,331,822.63 in the previous period[43] - Cash inflow from investment activities totaled $143,010,100, with net cash from the disposal of subsidiaries and other operating units amounting to $135,210,100[47] - The net cash flow from investment activities was negative at -$18,494,957.08, indicating a significant outflow compared to inflows[47] - The ending balance of cash and cash equivalents stood at $104,214,912.35, down from $176,382,356.08 at the beginning of the period[48] Operational Changes - The company has paused the construction of the new product development base and technology transformation project due to significant changes in macroeconomic conditions and market situations[19] - The company is actively adjusting its marketing network, product lines, sales channels, and team structure to build a better development platform under the new circumstances[24] - The company expects to continue facing challenges in sales revenue for 2014, with anticipated net losses for the first half and the entire year[24] Shareholder Information - The number of shareholders reached 66,738, with the largest shareholder holding 39.71% of the shares[15] - The company has committed to maintaining its controlling stake of at least 30% in the company for a period of 10 years following the implementation of the share reform plan[21] Cost Management - The company reported a significant decrease in operating costs by 62.08% to CNY 24,455,384.30 due to reduced sales volume[17] - Management expenses increased by 34.82% to CNY 52,203,942.33, attributed to one-time costs related to personnel restructuring[17] - The company incurred sales expenses of ¥869,321.30, down from ¥2,540,183.07 in the previous period, indicating cost-cutting measures[39] - Management expenses increased to ¥36,358,426.11, up from ¥26,142,860.23 in the previous period, reflecting higher operational costs[39]