Sunway(SH:603333)2014-04-29 16:00Financial Performance - Operating revenue fell by 43.76% to CNY 107,792,209.35 year-on-year[10] - Net profit attributable to shareholders was a loss of CNY 14,980,490.51, a decrease of 1,501.59% compared to the same period last year[10] - Total operating revenue for the first quarter was CNY 107,792,209.35, a decrease of 43.8% compared to CNY 191,664,901.37 in the previous year[31] - Net profit for Q1 2014 was -14,980,490.51, a decline of 1,501.59% from 1,068,824.27 in Q1 2013[17] - The net profit for the current period is -¥10,730,464.26, compared to a profit of ¥2,113,259.36 in the previous period, indicating a significant decline[34] - Total comprehensive income attributable to the parent company is -¥14,980,490.51, compared to ¥1,068,824.27 in the previous period[32] Cash Flow - Net cash flow from operating activities improved to CNY 72,752,926.90, compared to a negative cash flow of CNY 56,503,731.96 in the previous year[10] - Cash flow from operating activities in Q1 2014 was 72,752,926.90, a significant improvement from -56,503,731.96 in Q1 2013[17] - Operating cash flow from activities generated cash inflow of ¥222,320,399.49, up from ¥193,922,610.21 in the previous period, reflecting a 14.6% increase[35] - The net cash flow from operating activities is ¥72,752,926.90, a turnaround from a negative cash flow of -¥56,503,731.96 in the previous period[36] - The company’s cash flow from investing activities was -61,324,206.21, reflecting increased investments in government bond reverse repos[17] - The company’s investment activities resulted in a net cash outflow of -¥61,324,206.21, compared to -¥36,418,700.99 in the previous period, indicating increased investment expenditures[37] Assets and Liabilities - Total assets decreased by 6.67% to CNY 1,888,725,161.48 compared to the end of the previous year[10] - Total liabilities decreased to CNY 298,307,204.63 from CNY 410,483,971.21, a reduction of 27.2%[28] - The company’s cash and cash equivalents decreased by 36.67% to 153,914,578.30 due to increased investments in trading financial assets[16] - Cash and cash equivalents at the end of the period decreased to ¥123,370,764.91 from ¥605,067,702.65, a decline of 79.7%[38] - The company reported a significant increase in prepayments, rising to CNY 23,032,897.79 from CNY 5,734,563.73, an increase of 301.5%[27] Shareholder Information - The total number of shareholders was 25,218 at the end of the reporting period[13] - The largest shareholder, Li Guangyuan, holds 62.60% of the shares, totaling 325,500,000 shares[13] Operational Challenges - The company anticipates a potential net profit loss or significant decline compared to the same period last year due to economic slowdown and intense market competition[20] - The company is facing challenges due to a competitive market environment, which may impact future profitability[20] - The company has committed to avoiding any related party transactions moving forward, ensuring compliance with relevant laws and regulations[19] - The company has pledged to adhere strictly to its internal regulations and avoid any actions that could harm the interests of shareholders[19] Expenses - Sales expenses decreased by 49.51% to 8,494,212.89 due to reduced sales orders[17] - Financial expenses decreased by 41.43% to 4,305,321.57 as a result of loan repayments[17] - The company incurred asset impairment losses of ¥7,838,788.81, significantly higher than ¥2,581,471.24 in the previous period, indicating increased financial strain[33]