Smarter Energy(SH:600869)2014-04-29 16:00Financial Performance - Net profit attributable to shareholders of the listed company was CNY 33,541,480.88, an increase of 39.29% year-on-year [12]. - Operating income for the first quarter was CNY 1,828,674,936.61, down 16.83% from the same period last year [12]. - The company reported a basic earnings per share of CNY 0.03, up 50.00% from the previous year [12]. - Net profit for Q1 2014 reached CNY 30,206,553.24, up 45.73% from CNY 20,707,755.20 in Q1 2013 [39]. - Earnings per share for Q1 2014 were CNY 0.03, compared to CNY 0.02 in the same period last year, reflecting a 50% increase [39]. - The company's net profit increased due to a rise in operating profit, attributed to a decrease in costs [27]. Cash Flow - The net cash flow from operating activities was CNY 366,573,063.34, a significant increase of 713.95% compared to the previous year [12]. - The net cash flow from operating activities improved year-on-year due to an increase in receivables and a decrease in material purchase costs [27]. - The operating cash flow for the current period is CNY 366,573,063.34, a substantial increase compared to CNY 45,036,154.19 in the previous period [44]. - The company has a total cash inflow from operating activities of CNY 57,200,870.28, down from CNY 72,941,910.50 in the previous period [46]. - The company reported a net cash outflow from investing activities of CNY 8,901,163.64, an improvement from a net outflow of CNY 142,295,153.63 in the previous period [44]. - The cash flow from financing activities resulted in a net outflow of CNY 85,137,572.80, compared to a net outflow of CNY 178,330,669.51 in the previous period [44]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 9,488,381,283.57, a decrease of 4.70% compared to the end of the previous year [11]. - The total current assets decreased from CNY 7,224,518,558.61 at the beginning of the year to CNY 6,745,866,809.85 at the end of the reporting period [33]. - The company's short-term borrowings decreased from CNY 4,234,836,114.10 at the beginning of the year to CNY 3,511,460,162.34 at the end of the reporting period [33]. - The total liabilities decreased to CNY 475,407,287.95 from CNY 625,719,589.34 at the start of the year, reflecting a reduction of approximately 24% [38]. - The company's total assets as of March 31, 2014, amounted to CNY 3,706,872,106.45, down from CNY 3,856,182,405.33 at the beginning of the year [38]. Revenue Breakdown - Revenue from the East China region was CNY 114,196.35 million, a decrease of 13.31% year-on-year [16]. - Revenue from the power cable segment increased by 23.70% to CNY 7,504.90 million [20]. - The revenue from special cables and accessories surged by 71.34% to CNY 7,771.25 million [20]. - Total revenue for Q1 2014 was CNY 1,828,674,936.61, a decrease of 16.85% compared to CNY 2,198,684,396.16 in the same period last year [39]. - The company has seen a decrease in sales revenue from CNY 2,465,720,084.41 in the previous period to CNY 2,395,734,762.34 in the current period [43]. Corporate Governance - The company plans to enhance its corporate governance structure and ensure independence in operations and finances [28]. - The company has committed to not engaging in any business that competes with its subsidiaries to protect shareholder interests [29]. Cost Management - The gross profit margin for Q1 2014 was approximately 1.26%, compared to 0.91% in Q1 2013, indicating improved cost management [39]. - The company reported a significant reduction in operating costs, with total operating costs for Q1 2014 at CNY 1,805,722,994.23, down from CNY 2,178,150,689.65 in Q1 2013 [39]. - The increase in prepayments was mainly due to an increase in advance payments for goods [27].