NWF(SH:600975)2014-04-29 16:00Financial Performance - Total revenue for Q1 2014 reached CNY 256,964,754.56, an increase of 15.60% compared to CNY 222,279,634.78 in the same period last year[14] - Net profit attributable to shareholders was CNY -22,237,439.66, a decrease of 554.01% from CNY 4,898,040.01 in Q1 2013[14] - The company reported a significant increase in operating costs, which rose by 31.85% to CNY 257,605,133.15 due to higher pig farming costs[18] - The company expects a net profit loss of between -48 million to -55 million RMB for the period from January 1, 2014, to June 30, 2014[20] - The primary reason for the expected loss is the significant decline in pig market prices, leading to overall losses in the pig production industry[20] - The net profit for the current period was a loss of ¥23,987,001.70, compared to a profit of ¥3,867,743.53 in the previous period[32] - The company reported a basic earnings per share of -0.09, compared to 0.02 in the previous period[32] Cash Flow and Liquidity - The net cash flow from operating activities was CNY -6,226,369.03, compared to CNY -20,040,056.15 in the same period last year[14] - Cash generated from operating activities was ¥290,441,064.08, an increase from ¥238,174,578.13, representing a growth of 21.9%[36] - The net cash flow from operating activities was CNY 62,358,148.97, a significant improvement compared to a net outflow of CNY -4,616,496.97 in the prior period[41] - Investment activities resulted in a net cash outflow of CNY -31,905,381.26, worsening from CNY -10,727,402.14 in the previous period[38] - Financing activities generated a net cash inflow of CNY 18,214,288.52, compared to CNY 3,357,351.25 in the prior period, indicating a substantial increase[39] - Cash and cash equivalents at the end of the period stood at CNY 107,770,186.94, up from CNY 94,970,235.91 at the end of the previous period[39] - The company experienced a net decrease in cash and cash equivalents of CNY -19,917,461.77, compared to a decrease of CNY -27,410,107.04 in the previous period, showing a reduction in cash burn[39] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,212,346,920.05, a slight increase of 0.77% from CNY 1,203,058,142.27 at the end of the previous year[14] - As of March 31, 2014, the company's total assets amounted to approximately 1.21 billion RMB, compared to 1.20 billion RMB at the beginning of the year[24] - Current assets decreased from approximately 622 million RMB at the beginning of the year to about 597 million RMB by the end of March 2014[22] - The company's total liabilities decreased from approximately 581 million RMB to about 568 million RMB[24] - Current liabilities totaled ¥261,528,216.46, down from ¥313,673,501.54, a reduction of 16.6%[28] - The total equity of the company was ¥529,394,451.70, slightly down from ¥544,370,040.27, a decrease of 2.7%[28] - The equity attributable to shareholders of the parent company decreased from approximately 553 million RMB to about 537 million RMB[24] Shareholder Information - The number of shareholders totaled 38,609, with the largest shareholder, Hunan Grain and Oil Food Import and Export Group, holding 37.54% of shares[15] Operational Efficiency - The weighted average return on net assets decreased to -4.08%, down 4.96 percentage points from 0.88% in the previous year[14] - The company experienced a 74.65% decrease in prepaid accounts, reflecting a reduction in advance payments for goods received[18] - The company reported a cash inflow from sales of goods and services amounting to CNY 241,770,926.00, up from CNY 222,330,923.06 in the previous period[40] - The cash paid for purchasing goods and services decreased to CNY 174,265,166.40 from CNY 197,226,940.43, reflecting improved cost management[40] - The company's financial expenses increased to ¥3,059,898.70 from ¥1,849,887.63, an increase of 65.5%[31] - Inventory increased from approximately 348 million RMB to about 386 million RMB during the same period[22] - The company’s inventory decreased slightly to ¥253,366,215.63 from ¥258,995,019.27, a decline of 2.6%[28] Extraordinary Items - The company reported a 100.50% increase in non-operating expenses, totaling CNY 2,278,345.94, primarily due to increased extraordinary losses[18] - The company has committed to not engaging in similar business activities as its controlling entities to avoid competition[20]