*ST新纺(002087) - 2014 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2014 was CNY 814,537,651.60, representing a 5.23% increase compared to CNY 774,069,786.69 in the same period last year[5] - Net profit attributable to shareholders decreased by 51.77% to CNY 12,875,022.03 from CNY 26,694,395.30 year-on-year[5] - The weighted average return on equity decreased to 0.68% from 1.48% year-on-year[5] - The net profit attributable to shareholders for the first half of 2014 is expected to be between 33 million and 42.43 million RMB, representing a decrease of 10% to 30% compared to the same period in 2013[14] - The net profit for the first half of 2013 was approximately 47.14 million RMB[14] - The decline in profit is attributed to the cancellation of the national cotton storage policy, expected drop in cotton prices, and a sluggish downstream textile market[14] - Increased costs, reduced subsidy income, and declining profit margins are also contributing factors to the expected decrease in net profit[14] Cash Flow - The net cash flow from operating activities was negative at CNY -56,322,294.92, a decline of 180.85% compared to CNY 69,660,254.61 in the previous year[5] - The net cash flow from investment activities was CNY -141,771,600, an increase in cash outflow compared to CNY -51,789,100 in the same period last year[12] - The net cash flow from financing activities was CNY 218,081,000, a significant increase from CNY -12,533,100 in the previous year, attributed to increased net borrowings[12] Assets and Shareholder Information - The total assets at the end of the reporting period increased by 3.94% to CNY 5,203,047,670.79 from CNY 5,005,742,083.42 at the end of the previous year[5] - The total number of shareholders at the end of the reporting period was 42,739, with the largest shareholder, Xin Ye County Finance Bureau, holding 33% of the shares[8] Expenses and Income - Management expenses increased by 92.85% year-on-year, primarily due to increased R&D investment for product structure transformation[11] - The company reported a significant decrease in non-operating income, down 59.86% compared to the previous year, mainly due to reduced subsidy income[11]