LEO(SZ:002131)2014-04-21 16:00Financial Performance - The company's operating revenue for Q1 2014 was ¥435,538,271.84, a decrease of 2.15% compared to ¥445,110,366.23 in the same period last year[8] - Net profit attributable to shareholders increased significantly by 356.33% to ¥90,535,775.39 from ¥19,839,955.56 year-on-year[8] - The basic earnings per share rose by 300% to ¥0.24 from ¥0.06 in the previous year[8] - The net profit attributable to shareholders for the first half of 2014 increased by 125% to a range of 106.38 million to 130.03 million CNY[21] - The net profit for the first half of 2013 was 47.28 million CNY[21] - The increase in performance is attributed to the sale of a 30% stake in Hitachi Pump by the subsidiary Wuxi LEO Pump Manufacturing Co., Ltd. and growth in sales revenue and gross margin of the parent company[21] Cash Flow and Assets - The net cash flow from operating activities improved by 49.86%, reaching -¥8,648,596.51 compared to -¥17,248,188.01 in the same period last year[8] - Cash received from operating activities rose by 38.36% to 26,429,191.10 from 19,101,519.51 due to increased receivables and deposits recovered[16] - Cash paid for fixed assets and intangible assets increased by 72.03% to 32,881,169.53 from 19,114,150.60 primarily due to land payments[17] - Total assets at the end of the reporting period were ¥2,720,625,659.32, a decrease of 4.32% from ¥2,843,415,028.76 at the end of the previous year[8] - Other current assets decreased by 33.72% to 22,230,585.76 from 33,538,771.86 primarily due to the redemption of 10 million yuan in bank wealth management products by a subsidiary[15] Shareholder Information - The total number of shareholders at the end of the reporting period was 13,270[11] - Major shareholder Wang Xiangrong holds 26.44% of the shares, with 99,314,205 shares, of which 78,742,095 are pledged[11] Investments and Income - Investment income surged by 4344.78% to 101,663,627.15 from 2,287,256.72 due to the sale of a 30% stake in Hitachi Pump by a subsidiary[16] - Operating income increased by 1558.35% to 127,655,480.13 from 7,697,748.51 due to land and property disposals related to the land reserve project[16] - The company recognized a government subsidy of ¥121,821,465.70 related to land and property recovery, which contributed to its non-operating income[9] Equity and Liabilities - The net assets attributable to shareholders increased by 6.03% to ¥1,603,498,295.73 from ¥1,512,294,731.53 at the end of the previous year[8] - The weighted average return on equity rose by 3.96 percentage points to 5.81% from 1.85% year-on-year[8] - The company repaid bank loans amounting to 245,600,000.00, an increase of 105.04% compared to 119,780,000.00 in the previous period[17] Future Outlook - The company plans to achieve a positive net profit attributable to shareholders for the first half of 2014, indicating no turnaround situation[20] Asset Changes - Trading financial assets decreased by 77.43% to 4,178,606.50 from 18,517,087.00 due to reduced fair value changes from unfulfilled forward foreign exchange contracts[15] - Construction in progress increased by 64.51% to 39,687,281.71 from 24,124,842.60 due to increased prepayments for engineering equipment and infrastructure investments[15] - Intangible assets increased by 70.25% to 213,608,621.69 from 125,469,648.69 mainly due to prepayments for land use rights in the eastern industrial cluster[15]