SGC(SH:601139)2014-04-21 16:00Financial Performance - Operating revenue for the first quarter was CNY 2,188,642,707.25, representing a year-on-year increase of 17.53%[11] - Net profit attributable to shareholders of the listed company decreased by 34.52% to CNY 145,250,100.76[11] - Basic earnings per share decreased by 36.36% to CNY 0.07[11] - The company's net profit attributable to shareholders decreased by 34.52% to CNY 145,250,100.76 in Q1 2014 compared to CNY 221,808,590.39 in Q1 2013[20] - Net profit for Q1 2014 was CNY 150,278,251.87, down 33.1% from CNY 224,675,386.41 in Q1 2013[35] - Total operating revenue for Q1 2014 was CNY 2,188,642,707.25, an increase of 17.5% compared to CNY 1,862,234,829.10 in the same period last year[34] - Total operating costs for Q1 2014 were CNY 1,990,930,912.24, representing a 18.4% increase from CNY 1,681,017,016.38 in the previous year[34] - Operating profit for Q1 2014 was CNY 195,315,749.75, a slight increase from CNY 180,710,237.36 in Q1 2013[34] - The company reported a total profit of CNY 196,305,560.17 for Q1 2014, down from CNY 302,916,514.61 in Q1 2013[34] Assets and Liabilities - Total assets at the end of the reporting period were CNY 12,029,356,915.54, a decrease of 0.42% compared to the end of the previous year[11] - The company's total liabilities decreased to CNY 6,587,595,064.90 from CNY 6,822,955,874.22, indicating a reduction in financial obligations[30] - Current assets totaled CNY 3,579,880,139.04, down from CNY 3,860,483,343.36, showing a decline of about 7.3%[29] - The company's cash and cash equivalents decreased to CNY 2,686,089,236.71 from CNY 2,981,047,245.20, a reduction of approximately 9.9%[29] - Short-term borrowings increased to CNY 2,210,814,936.50 from CNY 2,064,213,249.62, representing an increase of about 7.1%[30] - The accounts receivable rose to CNY 363,894,542.18 from CNY 305,749,650.45, indicating an increase of approximately 19.0%[29] - The total non-current liabilities decreased to CNY 1,780,953,876.74 from CNY 1,896,858,765.33, indicating a reduction of about 6.1%[30] Cash Flow - Cash flow from operating activities was CNY 228,244,429.29, down 15.42% from the same period last year[11] - Cash received from sales of goods and services increased by 23.49% to CNY 2,439,997,164.62 in Q1 2014 compared to CNY 1,975,915,513.12 in Q1 2013[22] - Cash paid for purchasing goods and services increased by 34.35% to CNY 1,812,278,424.97 in Q1 2014 from CNY 1,348,896,318.76 in Q1 2013[22] - The net cash flow from investment activities was -162,270,746.58 CNY, compared to -86,183,290.59 CNY in the previous period, indicating a significant increase in cash outflow for investments[44] - Cash inflow from financing activities totaled 511,000,000.00 CNY, while cash outflow was 915,076,568.52 CNY, resulting in a net cash flow of -404,076,568.52 CNY from financing activities[44] - The net increase in cash and cash equivalents was -644,524,417.16 CNY, contrasting with a positive increase of 293,145,225.45 CNY in the previous period[45] - The ending balance of cash and cash equivalents was 1,409,210,022.32 CNY, down from 2,053,734,439.48 CNY at the beginning of the period[45] Shareholder Information - The total number of shareholders at the end of the reporting period was 36,988[13] - The largest shareholder, Shenzhen Municipal Government State-owned Assets Supervision and Administration Commission, holds 51.00% of shares[13] Operational Changes - Significant changes in financial indicators were attributed to increases in accounts receivable and prepayments, as well as a rise in tax liabilities due to increased profit[17] - The company plans to enhance its internal control system and has developed new management regulations to improve business processes[23] - The company has committed to avoiding any form of competition with its major shareholders and has adhered to this commitment without violations[25] Inventory and Expenses - Inventory decreased by 29.72% to CNY 215,911,939.57 as of March 31, 2014, from CNY 307,215,250.09 at the end of 2013[19] - Sales tax and additional charges increased by 33.65% to CNY 11,406,371.00 in Q1 2014 compared to CNY 8,534,781.45 in Q1 2013[19] - Sales expenses rose by 21.86% to CNY 176,714,846.48 in Q1 2014 from CNY 145,020,480.94 in Q1 2013[19] - The company reported a significant decrease of 98.90% in non-operating income to CNY 1,361,161.95 in Q1 2014 from CNY 124,223,720.22 in Q1 2013[19]