JCF(SZ:000420)2014-04-28 16:00Financial Performance - The company's operating revenue for Q1 2014 was ¥344,947,728.53, a decrease of 4.36% compared to ¥360,684,618.99 in the same period last year[7] - Net profit attributable to shareholders was ¥132,181,464.80, a significant increase of 405.23% from a loss of ¥43,305,125.43 in the previous year[7] - The basic earnings per share rose to ¥0.3494, compared to a loss of ¥0.1145 per share in the same period last year, marking a 405.15% improvement[7] - The weighted average return on equity increased to 70.4%, up 79.17 percentage points from -8.77% in the previous year[7] - Net profit for Q1 2014 was CNY 122,273,398.79, compared to a net loss of CNY 46,694,316.36 in Q1 2013, marking a significant turnaround[33] - The net profit for the first quarter of 2014 was -229,170,365.25 CNY, compared to -19,662,734.03 CNY in the same period last year, indicating a significant decline in profitability[36] - The total comprehensive income for the first quarter was -229,170,365.25 CNY, mirroring the net profit loss, indicating no other comprehensive income contributions[36] Assets and Liabilities - Total assets decreased by 23.78% to ¥3,047,814,459.64 from ¥3,998,605,647.13 at the end of the previous year[7] - Total assets decreased to CNY 2,021,196,624.24 from CNY 2,163,798,493.76, reflecting a decline of 6.57%[30] - Total liabilities increased to CNY 1,720,799,353.99, up from CNY 1,634,230,858.26, representing a rise of 5.29%[30] - The net assets attributable to shareholders increased by 99.81% to ¥243,132,059.13 from ¥121,678,767.90 at the end of the previous year[7] Cash Flow - Cash flow from operating activities showed a net outflow of ¥70,336,518.13, a decline of 214.57% compared to a positive cash flow of ¥61,390,568.77 in the same period last year[7] - Operating cash flow for the first quarter was -70,336,518.13 CNY, a decrease from 61,390,568.77 CNY in the previous year, reflecting a negative cash flow situation[39] - The company reported a total cash outflow from operating activities of 280,294,159.43 CNY, compared to 240,273,913.87 CNY in the previous year, indicating increased operational expenses[39] - Cash and cash equivalents at the end of the period were 173,443,288.54 CNY, down from 614,771,908.85 CNY at the end of the previous year, representing a decrease of approximately 71.8%[40] - The company received tax refunds amounting to 5,366,087.06 CNY, an increase from 3,607,973.93 CNY in the previous year, which may provide some relief to cash flow[39] Investments and Equity - The company sold 98.645% of its subsidiary Hebei Jizhao Chemical Fiber Co., Ltd. and 50.33% of Hunan Top Bamboo and Hemp Industry Development Co., Ltd. during the reporting period[13] - The company has completed the transfer of 98.645% equity in Hebei Jizhao Chemical Fiber Co., Ltd. and 50.33% equity in Hunan Top Bamboo Fiber Industry Development Co., Ltd. to Jilin Railway Investment Development Co., Ltd.[18] - Investment income for the current period increased due to the sale of subsidiary equity[16] - The company reported a significant increase in investment income of CNY 160,347,954.07, compared to no income reported in the previous year[32] - The company plans to issue no more than 338,345,865 shares to raise a total of no more than 900 million yuan, with the proposal approved by the shareholders[17] Operational Costs and Expenses - Total operating costs increased to CNY 446,474,078.95, up 9.61% from CNY 407,375,231.75 year-over-year[32] - Non-operating income rose by 1716.28% compared to the same period last year, primarily due to the reversal of transitional losses from the sale of subsidiary equity[16] - Non-operating expenses increased by 199.58% compared to the same period last year, mainly due to increased donation expenses[16] - Income tax expenses decreased by 160.89% compared to the same period last year due to a reduction in income tax expenses[16] - Net cash flow from investing activities decreased by 239.03% compared to the previous period, primarily due to increased payments for project equipment amounting to 95,000 tons[16] - Net cash flow from financing activities decreased by 69.55% compared to the previous period, mainly due to the repayment of part of the bank loans[16]