BAIDA GROUP(SH:600865)2014-04-28 16:00Financial Performance - Operating revenue for the first quarter was CNY 300,476,589.83, a decline of 15.90% year-on-year[7] - Net profit attributable to shareholders increased by 156.94% to CNY 55,281,114.70 compared to the same period last year[7] - The total revenue for Q1 2014 was RMB 300,476,589.83, a decrease of 15.9% compared to RMB 357,292,627.29 in the same period last year[28] - The net profit for Q1 2014 was RMB 55,281,114.70, significantly increasing from RMB 16,739,438.01 in the previous year, representing a growth of 230.5%[28] - The operating profit increased to RMB 62,463,967.55, up 75.67% from RMB 35,539,449.48 year-on-year[30] - The company’s total comprehensive income for the current period is RMB 53,475,213.33, compared to RMB 26,767,485.93 in the previous year, reflecting strong growth[30] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 47,986,248.24, compared to a net inflow of CNY 76,727,231.39 in the same period last year[7] - Net cash flow from operating activities decreased by CNY 124.71 million compared to the same period last year, resulting in a net cash flow of -CNY 47.99 million[20] - The cash flow from operating activities totaled RMB 76,727,231.39, compared to a negative cash flow of RMB -47,986,248.24 in the same period last year[32] - Operating cash inflow totaled RMB 337,528,926.78, a decrease from RMB 374,965,587.38 in the same period last year, representing a decline of approximately 10%[34] - Net cash flow from operating activities was negative at RMB -46,396,661.01, slightly improved from RMB -48,250,776.78 year-over-year[34] - Total cash outflow from operating activities was RMB 383,925,587.79, a decrease from RMB 423,216,364.16 in the previous year[34] Assets and Liabilities - Total assets decreased by 18.46% to CNY 2,292,857,022.22 compared to the end of the previous year[7] - The total assets at the end of the reporting period were RMB 2,187,799,566.36, down from RMB 2,708,480,498.47 at the beginning of the period[26] - The total liabilities at the end of the reporting period were RMB 1,015,316,861.66, compared to RMB 1,589,473,007.10 at the beginning of the period[26] - The total liabilities rose from ¥1,017,442,535.72 to ¥1,591,690,293.76, indicating an increase of about 56.4%[24] - The company's total current liabilities increased from ¥599,955,651.09 to ¥1,112,485,609.13, reflecting a growth of approximately 85.5%[24] Investment Income - The company reported a significant increase in investment income to CNY 10,701,092.98 from a loss of CNY 692,747.96 in the previous year[16] - Investment income increased due to higher commission loan income during the reporting period[21] - The company generated investment income of RMB 7,540,468.74, an increase from RMB 3,493,145.37 in the same period last year[30] Inventory and Receivables - Accounts receivable increased by 166.09% to CNY 43,835,069.16 compared to the beginning of the period[16] - Inventory decreased by 30.63% to CNY 6,367,209.65 compared to the beginning of the period[16] - Accounts receivable rose from ¥43,835,069.16 to ¥16,473,542.01, indicating a change in credit management[24] - Inventory increased from ¥6,367,209.65 to ¥9,178,271.20, reflecting a growth of approximately 44.4%[24] Financial Expenses - The company incurred an increase in financial expenses due to higher gold leasing fees[21] - The financial expenses increased to RMB 1,243,753.31, compared to RMB 876,281.08 in the previous year[30] Borrowings and Loans - Short-term borrowings were fully repaid, resulting in a 100% decrease[16] - The company plans to repay all outstanding loans by the end of 2015, with a remaining principal balance of CNY 1.11 billion[22] - Long-term borrowings increased from ¥350,850,000.00 to ¥412,567,800.00, showing a rise of about 17.6%[24] Management Fees - The company has incurred a management fee of CNY 11.13 million, with CNY 5.66 million as basic management fees and CNY 5.47 million as excess management fees[21]