CHANGHONG(SH:600839)2014-04-21 16:00Financial Performance - Net profit attributable to shareholders decreased by 93.75% to CNY 9.23 million year-on-year[10] - Operating revenue declined by 3.53% to CNY 12.53 billion compared to the same period last year[10] - Basic and diluted earnings per share fell by 93.75% to CNY 0.0020[10] - Operating profit fell significantly to ¥7,228,685.62, compared to ¥167,007,174.12 in the previous period, reflecting a decline of 95.66%[42] - Net profit for the current period is ¥83,847,380.38, down 49.12% from ¥164,837,775.95 in the previous period[43] Assets and Liabilities - Total assets increased by 1.57% to CNY 59.76 billion compared to the end of the previous year[9] - Current liabilities totaled ¥33.79 billion, slightly up from ¥33.54 billion, indicating a 0.70% increase[35] - Long-term borrowings rose significantly to ¥2.56 billion from ¥1.85 billion, marking an increase of 38%[35] - Total liabilities increased to ¥40.27 billion from ¥39.34 billion, an increase of approximately 2.37%[35] - The company's long-term equity investments rose to CNY 1,201,392,892.31 from CNY 1,172,547,333.83, showing an increase of about 2.46%[33] Cash Flow - Net cash flow from operating activities improved significantly to CNY 169.72 million, compared to a negative CNY 562.72 million in the previous year[10] - Cash flow from operating activities increased to ¥169,716,846.55, compared to a negative cash flow of -¥562,723,696.46 in the previous period[50] - Cash inflow from financing activities reached 2,743,184,910.89, up from 711,412,553.75, marking an increase of approximately 284.5%[53] - The net increase in cash and cash equivalents was 1,874,782,425.53, compared to a decrease of 1,896,968,286.73 in the previous period[53] Shareholder Information - The total number of shareholders reached 333,374 as of the report date[13] - The largest shareholder, Sichuan Changhong Electric Group Co., Ltd., holds 23.20% of the shares, totaling 1,070,863,727 shares[13] - Shareholders' equity slightly decreased to ¥19.49 billion from ¥19.50 billion, a marginal decline of about 0.01%[35] Operational Changes - The company reported a significant increase in non-operating income, totaling CNY 140.14 million for the period[11] - The company has not disclosed any new product developments or market expansion strategies in this report[10] - Sichuan Changhong strictly fulfilled its commitments regarding the acquisition of Meiling Electric, ensuring no competition with Meiling's current or future business activities[20] - The company is focusing on expanding its market presence and enhancing product development strategies[41] Financial Adjustments - Financial expenses decreased by 33.87% to RMB 72.48 million, primarily due to changes in exchange gains and increased interest income[14] - Dividends payable dropped by 92.63% to RMB 5.25 million, as the dividends payable by subsidiaries at the beginning of the period were settled[14] - Asset impairment losses increased by 45.18% to RMB 180.95 million, mainly due to an increase in receivables leading to higher bad debt provisions[14] Investment Activities - Investment income rose by 71.55% to RMB 5.61 million, driven by changes in profits from joint ventures[14] - Trading financial assets increased by 38.39% to RMB 36.03 million due to fair value gains from forward contracts[14] - Cash received from other investment activities was 1,270,897,687.93, compared to 1,203,770,997.80, reflecting an increase of about 5.6%[52]