BGRIMMTEC(SH:600980)2014-04-28 16:00Financial Performance - Net profit attributable to shareholders was CNY 1,487,299.67, an increase of 484.43% year-on-year[9]. - Operating revenue for the period was CNY 46,919,168.62, down 1.65% from the same period last year[9]. - The net profit after deducting non-recurring gains and losses was CNY 1,432,837.29, compared to a loss of CNY 23,901.17 in the previous year[9]. - The company's net profit attributable to shareholders increased by 484.43% year-on-year, reaching ¥1,487,299.67, primarily due to improved product gross margins[14]. - Net profit for Q1 2014 was RMB 1,512,446.03, significantly up from RMB 116,475.96 in Q1 2013, representing an increase of 1195.73%[21]. - The company reported a total profit of RMB 1,371,964.50, compared to RMB 48,952.13 in the same period last year, marking a substantial increase[21]. - The net profit for Q1 2014 was CNY 1,394,125.46, showing a significant recovery compared to a net loss of CNY 130,060.67 in Q1 2013[30]. - The total comprehensive income for Q1 2014 was CNY 1,394,125.46, reflecting improved operational performance[30]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY -7,912,687.51, compared to CNY 3,476,583.23 in the previous year, indicating a significant change[9]. - Cash flow from operating activities showed a net outflow of RMB 7,912,687.51, compared to a net inflow of RMB 3,476,583.23 in the previous year[23]. - The company's cash flow from investing activities was -1,432,942.11 RMB, an improvement from -4,613,513.20 RMB in Q1 2013[24]. - The total cash inflow from financing activities was 5,944,481.62 RMB, down from 8,197,805.99 RMB in Q1 2013[24]. - The total operating cash outflow increased to 65,648,975.23 RMB from 52,522,395.48 RMB in the previous year[24]. - The company's total cash inflow from operating activities was 50,422,153.30 RMB, down from 56,976,653.94 RMB in Q1 2013[24]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 314,156,774.71, a decrease of 1.54% compared to the end of the previous year[9]. - The total assets as of March 31, 2014, amounted to ¥314,156,774.71, a slight decrease from ¥319,072,454.10 at the beginning of the year[17]. - As of March 31, 2014, the total liabilities of Beikong Magnetic Materials Technology Co., Ltd. amounted to RMB 42,327,713.37, a decrease of 12.9% from RMB 48,755,838.79 at the beginning of the year[18]. - The total owner's equity increased to RMB 271,829,061.34 from RMB 270,316,615.31, reflecting a growth of 0.56%[18]. - The company's current liabilities totaled RMB 30,599,142.49, down 17.5% from RMB 36,965,553.17 at the beginning of the year[18]. - The total assets decreased to RMB 311,232,105.71 from RMB 315,974,293.43, a reduction of 1.2%[20]. Shareholder Information - The total number of shareholders was 26,782 at the end of the reporting period[12]. - The largest shareholder, Beijing General Research Institute of Mining & Metallurgy, holds 40.00% of the shares, totaling 52,000,000 shares[12]. Expenses - The company's sales expenses increased by 100.16% to ¥1,355,735.25, mainly due to higher export freight costs[14]. - The company's financial expenses decreased by 98.69%, resulting in a net financial income of -¥11,189.86, primarily due to reduced interest income[14]. - Selling expenses increased to RMB 1,355,735.25, up 100.06% from RMB 677,340.82 in the previous year[21]. - Management expenses slightly increased to RMB 4,782,682.55 from RMB 4,887,688.10, a decrease of 2.14%[21]. Inventory and Receivables - Prepayments rose significantly by 248.41% to ¥7,784,378.53, attributed to increased advance payments for materials[14]. - Accounts payable decreased by 31.63% to ¥19,882,890.91, reflecting the settlement of due raw material payments[14]. - Accounts receivable rose to RMB 47,013,597.85, an increase of 16.9% compared to RMB 40,305,688.21 at the beginning of the year[19]. - The inventory value increased to ¥63,367,516.66, up from ¥58,400,077.49, indicating a rise in stock levels[17]. - The inventory level increased to RMB 47,151,223.06, up 4.2% from RMB 45,242,840.77[19]. Capital and Contributions - The company plans to raise up to ¥400 million through a private placement to acquire 100% of the equity of Beikong Electromechanical Technology Co., Ltd., enhancing its mining equipment manufacturing business[15]. - The company reported a total of CNY 2,400,000.00 in owner contributions during the period[30]. - The capital reserve increased from CNY 168,904,072.53 in Q1 2013 to CNY 169,743,545.33 in Q1 2014[30].