CRRC(SH:601766)2014-04-25 16:00Financial Performance - Operating revenue for the first quarter was RMB 18,449,858 thousand, a decrease of 6.80% year-on-year[10] - Net profit attributable to shareholders was RMB 772,169 thousand, down 4.87% compared to the same period last year[10] - Total operating revenue for Q1 2014 was CNY 18,449,858, a decrease of 6.8% from CNY 19,795,533 in the same period last year[37] - Total operating costs for Q1 2014 were CNY 17,376,191, down 8.6% from CNY 19,004,507 year-over-year[38] - Net profit for Q1 2014 reached CNY 1,005,227, representing an increase of 13.5% compared to CNY 885,863 in Q1 2013[38] - The comprehensive income total for Q1 2014 was CNY 1,001,897, compared to CNY 1,038,637 in Q1 2013[39] Cash Flow - Cash flow from operating activities was RMB 2,271,830 thousand, compared to a negative RMB 2,024,229 thousand in the same period last year[10] - The net cash flow from operating activities increased by 4,296,059 thousand yuan, reaching 2,271,830 thousand yuan, primarily due to improved accounts receivable management[20] - Cash inflow from operating activities totaled 417,741 thousand RMB, compared to 107,126 thousand RMB in the previous period[46] - Cash outflow from operating activities was 1,869,999 thousand RMB, down from 2,364,906 thousand RMB year-over-year[46] - The ending cash and cash equivalents balance was 2,524,712 thousand RMB, compared to 1,690,154 thousand RMB in the previous period[48] Assets and Liabilities - Total assets increased to RMB 128,437,478 thousand, up 6.03% from the end of the previous year[10] - The company’s net assets attributable to shareholders increased to RMB 37,328,741 thousand, a rise of 2.10% from the previous year[10] - The total liabilities rose to CNY 81,280,952,000 from CNY 74,974,781,000, indicating an increase of approximately 8.5%[31] - The accounts receivable decreased by RMB 4,446,568 thousand, down 13.03% due to improved collection efforts[18] - The company's inventory increased significantly to CNY 25,748,621,000 from CNY 17,721,119,000, marking a growth of around 45.4%[29] Financing Activities - The net cash flow from financing activities increased by 1,383,120 thousand yuan to 2,637,190 thousand yuan, primarily due to increased cash received from borrowings[20] - The company issued 30 billion yuan in corporate bonds with a 4.7% interest rate for 5 years and a 5% interest rate for 10 years, with the first interest payments made on schedule[21] - Cash inflow from financing activities was 5,798,000 thousand RMB, an increase from 4,100,000 thousand RMB in the previous period[47] - The net cash flow from financing activities was 639,591 thousand RMB, down from 1,516,720 thousand RMB year-over-year[48] Commitments and Corporate Governance - The company has committed to avoiding competition with its controlling shareholder, ensuring that its subsidiaries do not engage in directly competing businesses[23] - The company has adhered to its commitments regarding the restructuring of Southern Huaitong to avoid competition in freight vehicle manufacturing[24] - The company committed to a share buyback plan, intending to repurchase up to 2% of its total issued shares within 12 months starting from August 29, 2012[26] - The company has adhered to its commitments regarding share lock-up periods and share repurchase plans during the reporting period[26] Other Financial Metrics - The weighted average return on equity decreased by 0.35 percentage points to 2.09%[10] - Earnings per share (EPS) remained stable at CNY 0.06 for both Q1 2014 and Q1 2013[39] - The company recorded an investment income of CNY 58,867, down from CNY 157,261 in the same period last year[38] - The retained earnings increased to CNY 12,257,560,000 from CNY 11,485,391,000, showing a growth of approximately 6.7%[31]