HNHD(SZ:002163)2014-04-27 16:00Financial Performance - The company's operating revenue for Q1 2014 was ¥949,938,433.67, representing a 16.29% increase compared to ¥816,904,104.22 in the same period last year[9] - The net profit attributable to shareholders was a loss of ¥21,522,448.42, an improvement of 51.03% from a loss of ¥43,954,606.84 in the previous year[9] - The net cash flow from operating activities was -¥148,662,586.38, which is a 25.22% improvement from -¥198,806,559.76 in the same period last year[9] - The basic earnings per share were -¥0.03, showing a 40% improvement from -¥0.05 in the same period last year[9] - The weighted average return on equity was -2.3%, an improvement of 0.98% from -3.28% in the previous year[9] Assets and Liabilities - The total assets at the end of the reporting period were ¥7,197,768,005.60, a decrease of 3.74% from ¥7,477,242,057.29 at the end of the previous year[9] - The company reported a significant decrease in cash and cash equivalents, down 30.96% from the beginning of the year, primarily due to payments for materials and natural gas procurement[18] - Prepayments increased by 88.85% compared to the beginning of the year, primarily due to increased prepayments for materials and natural gas procurement[22] - Other payables rose by 37.17% compared to the beginning of the year, mainly due to an increase in accrued natural gas expenses[22] Investment Activities - The net cash flow from investment activities was -¥18,996,000, a decrease from -¥36,671,900 in the previous year, attributed to reduced investments as construction projects were completed[20] Government Subsidies and Shareholder Impact - The company experienced a 431.28 million yuan decrease in non-operating income compared to the previous year, mainly due to reduced government subsidies recognized in the current period[19] - The company’s minority shareholder losses decreased by 148.44% compared to the previous year, primarily due to the completion of a debt-to-equity swap plan[19] - The company completed a debt-to-equity swap plan at the end of last year, which has reduced the losses attributable to shareholders compared to the same period last year[24] Future Projections - The company expects a net loss for the first half of 2014, projected between -55 million to -40 million RMB, compared to a net loss of 114.83 million RMB in the same period of 2013[24] Market Recovery - The recovery in the solar glass market has led to a rebound in prices and a gradual restoration of production scale, resulting in profitability in the solar glass business for the current period[24]