COSHIP(SZ:002052)2014-08-26 16:00Revenue and Profitability - Revenue for Q1 2013 reached ¥405,209,647.48, an increase of 45.89% compared to ¥277,758,658.46 in Q1 2012[7] - Net profit attributable to shareholders was -¥8,485,191.45, a decrease of 537.81% from ¥1,938,118.60 in the same period last year[7] - The net profit for Q1 2013 was a loss of CNY 8,454,988.85, compared to a profit of CNY 1,938,118.60 in Q1 2012, indicating a decline in profitability[46] - The company’s operating profit for Q1 2013 was a loss of CNY 12,071,227.24, compared to a loss of CNY 2,943,457.62 in the previous year, highlighting worsening operational efficiency[46] - The company reported a total comprehensive income of CNY -8.49 million for Q1 2013, compared to CNY 1.94 million in the previous year[49] Cash Flow and Liquidity - Net cash flow from operating activities was -¥161,059,349.80, a decrease of 1517.83% compared to ¥11,359,548.26 in Q1 2012[7] - The company experienced a 39.52% decrease in cash and cash equivalents compared to the beginning of the period, primarily due to increased inventory purchases[15] - The company's cash and cash equivalents decreased to CNY 153,207,820.12 from CNY 269,617,626.11, indicating a liquidity challenge[42] - The cash flow from operating activities showed a net outflow of CNY 161.06 million, compared to a net inflow of CNY 11.37 million in the previous period[51] - The ending balance of cash and cash equivalents was 97,184,270.39, down from 181,679,104.84 year-over-year[53] Assets and Liabilities - Total assets as of March 31, 2013, were ¥3,200,786,339.62, reflecting a 1.47% increase from ¥3,187,667,393.00 at the end of 2012[7] - The company's total assets as of the end of Q1 2013 were CNY 3,289,000,472.94, down from CNY 3,366,027,737.73 at the beginning of the year[44] - Total liabilities increased to CNY 1,961,555,541.04 in Q1 2013 from CNY 2,047,756,191.83 in the previous period[43] - The company’s total equity decreased to CNY 1,327,444,931.90 from CNY 1,318,271,545.90, reflecting a slight decline in shareholder value[44] Inventory and Accounts Receivable - Inventory increased by 43.92% compared to the beginning of the period, attributed to a rise in foreign orders[15] - Inventory levels rose significantly to RMB 433.92 million, compared to RMB 301.51 million at the start of the year, representing an increase of approximately 43.8%[39] - Accounts receivable increased to RMB 1.43 billion, up from RMB 1.38 billion at the beginning of the year, indicating a growth of about 3.5%[39] Operating Expenses - Operating expenses rose by 37.25% year-on-year, mainly due to increased costs for new product marketing and sales channel development[23] - Total operating costs for Q1 2013 were CNY 417,280,874.72, up from CNY 280,702,116.08, reflecting a significant increase in operating expenses[46] - The company reported a significant increase in sales expenses, which rose to CNY 46,136,482.46 from CNY 33,615,888.13, indicating higher marketing efforts[46] Shareholder Commitments and Returns - The company has committed to returning idle fundraising funds of RMB 15 million temporarily used for working capital by January 18, 2013[32] - The company has made commitments to shareholders for a three-year shareholder return plan from 2012 to 2014[33] - The company plans to permanently supplement its working capital with RMB 150 million of idle raised funds, committing not to engage in high-risk securities investments for 12 months after the completion of this funding[34] - The company has committed to distributing cash dividends amounting to at least 10% of the distributable profits each year, with a cumulative distribution of no less than 30% of the average annual distributable profits over three consecutive years (2012-2014) if no major investment plans arise[35] Investments and Future Plans - The company invested USD 15 million to hold a 30% stake in International Communication Media Co., Ltd., which focuses on integrated information operation platforms in Cambodia[28] - The company indirectly owns 20% of Cambodia's Zhigao Communication Media Group, which has completed foundational work and is set to begin trial broadcasts in October 2013[29] - The company received a one-time high-tech industry support fund of RMB 75 million from the Jingzhou Economic and Technological Development Zone Management Committee as of March 31, 2013[27] Other Financial Metrics - The weighted average return on net assets was -0.67%, down from 0.17% in the previous year[7] - The basic and diluted earnings per share for Q1 2013 were both CNY 0.027, down from CNY 0.301 in the previous year[49] - The company incurred operating costs of CNY 354.71 million, which is 36.5% of the total operating revenue[48] - The cash inflow from financing activities totaled 385,567,387.39, up from 261,154,481.65 year-over-year[53] - The company did not undergo an audit for the first quarter report[54]