ZHUYE GP(SH:600961)2014-04-24 16:00Financial Performance - The company achieved a net profit attributable to shareholders of RMB 6.76 million, an increase of 5241.33% compared to the same period last year[16]. - Operating revenue for the period was RMB 3.75 billion, representing a growth of 16.12% year-on-year[9]. - The company reported a basic and diluted earnings per share of ¥0.01, compared to a loss of ¥0.09 per share in the prior period[32]. - The net profit for the current period was ¥6,762,328.06, a significant recovery from a net loss of ¥45,649,864.62 in the previous period[32]. - The company recorded a comprehensive income of ¥6,288,991.34, recovering from a loss of ¥56,456,289.33 in the previous period[32]. Assets and Liabilities - The total assets at the end of the reporting period were RMB 6.16 billion, up 4.92% from the end of the previous year[9]. - The company's total liabilities reached RMB 5.44 billion, compared to RMB 5.17 billion at the beginning of the year[27]. - The total liabilities amounted to ¥4,917,771,964.48, slightly up from ¥4,897,313,184.98 in the previous period[30]. - Current liabilities totaled ¥4,529,097,884.84, compared to ¥4,379,796,605.34 in the prior period[30]. - The company's equity attributable to shareholders was RMB 713.97 million, showing an increase from RMB 702.61 million at the beginning of the year[27]. Cash Flow - Cash flow from operating activities showed a net outflow of RMB 111.39 million, an improvement from RMB 139.90 million in the previous year[9]. - Cash inflow from operating activities was ¥4,302,148,561.15, compared to ¥3,307,381,730.41 in the previous period, indicating a growth of 30.1%[36]. - Cash outflow for purchasing goods and services was ¥2,390,638,349.95, compared to ¥1,949,960,705.55 in the previous period, representing an increase of about 22.5%[39]. - The net cash flow from financing activities was ¥176,575,633.07, down from ¥338,327,949.51, indicating a decrease of approximately 47.9%[38]. - The company experienced a net decrease in cash and cash equivalents of ¥23,847,954.47, contrasting with an increase of ¥184,576,967.55 in the previous period[38]. Accounts Receivable and Inventory - Accounts receivable at the end of the period increased by 54.40% to RMB 262.08 million, primarily due to increased receivables from self-operated trade by subsidiaries[16]. - Accounts receivable increased significantly from RMB 169.74 million to RMB 262.08 million[26]. - Inventory decreased from RMB 1.73 billion to RMB 1.67 billion[26]. Legal Matters - The company is involved in a legal dispute with China Bank, with the initial claim amounting to RMB 10 million plus interest of RMB 520,600, totaling RMB 10.62 million[17]. - In January 2014, China Bank filed two new lawsuits against the company, with claims of RMB 36.82 million and RMB 34.44 million respectively[18]. Operational Adjustments - The company reduced its asset impairment losses by 41.02%, amounting to a decrease of RMB 75.59 million compared to the previous year[16]. - The company’s long-term borrowings decreased by 46.51% to RMB 163.04 million, attributed to adjustments in the loan structure[16]. - The company’s prepayments increased by 148.71% to RMB 205.90 million, due to increased payments for unsettled raw material contracts[16]. - The company’s cash flow hedging related to raw materials and product forward contracts showed a reduction in floating losses, leading to a decrease in trading financial liabilities by 74.88% to RMB 5.24 million[16]. - The company is currently researching solutions to address competition issues as per commitments made by its controlling shareholder[19].