*ST惠天(000692) - 2014 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2014 was CNY 819,405,656.56, representing a 15.08% increase compared to CNY 712,018,757.03 in the same period last year[8] - Net profit attributable to shareholders was CNY 121,375,482.06, a significant increase of 1,871.08% from CNY 6,157,813.53 year-on-year[8] - The net profit after deducting non-recurring gains and losses reached CNY 118,866,019.13, up 9,178.4% from CNY 1,281,104.75 in the previous year[8] - Basic and diluted earnings per share were both CNY 0.4555, reflecting an increase of 1,871.86% from CNY 0.0231 in the same period last year[8] Cash Flow and Assets - The company's cash flow from operating activities showed a negative net amount of CNY -311,906,682.09, worsening by 96.18% compared to CNY -158,986,729.16 last year[8] - Total assets at the end of the reporting period were CNY 3,609,526,546.03, a decrease of 1.89% from CNY 3,678,943,444.13 at the end of the previous year[8] - The net assets attributable to shareholders increased by 9.86% to CNY 1,392,528,464.68 from CNY 1,267,493,625.83 at the end of the previous year[8] - Cash and cash equivalents increased by 51.34% due to increased short-term bank loans[16] Liabilities and Expenses - The company experienced a 62.1% decrease in business tax and additional charges due to reduced design revenue[17] - The company’s short-term borrowings increased by 61.93% due to heightened funding needs[16] - Sales expenses increased by 36.3% year-on-year, primarily due to the increase in sales personnel compensation[20] - Financial expenses rose by 88% year-on-year, attributed to increased bank borrowings leading to higher interest expenses[20] - Asset impairment losses surged by 215.74% year-on-year, due to an increase in receivables for heating fees and higher provisions for bad debts[20] - Non-operating income decreased by 46.49% year-on-year, mainly due to a reduction in government subsidy income[20] - Income tax expenses increased by 1260.55% year-on-year, resulting from a rise in total profit for the first quarter[20] - Minority interest loss decreased by 61.34% year-on-year, due to reduced losses from the controlling subsidiary[20] Management and Shareholder Actions - The company appointed Xu Pengye as the new general manager on January 28, 2014[21] - Ningbo Ningdian reduced its shareholding from 5% to 4.89% after selling 300,000 shares on February 24, 2014[21] - The company actively responded to investor demands for a dividend distribution plan for the 2013 fiscal year[21] - The company has commitments regarding asset acquisitions and profit guarantees related to the acquisition of the Wulihua Boiler Room assets[23]