Sun Cable(SZ:002300)2014-04-25 16:00Revenue and Profit - Revenue for Q1 2014 was CNY 689,752,933.99, a decrease of 5.56% compared to CNY 730,328,334.74 in the same period last year[8] - Net profit attributable to shareholders was CNY 12,655,973.04, down 21.58% from CNY 16,137,941.91 year-on-year[8] - The company expects net profit attributable to shareholders for the first half of 2014 to range from 34.84 million to 54.74 million yuan, representing a year-on-year change of -30% to 10%[26] - The anticipated performance decline is attributed to a slowdown in industry demand due to macroeconomic growth deceleration[26] Cash Flow and Operating Activities - Net cash flow from operating activities improved significantly to CNY 64,269,162.80, a 166.45% increase from a negative cash flow of CNY -96,715,156.97 in the previous year[8] - Cash received from operating activities increased by 159.86% year-on-year, mainly due to the commencement of bidding for infrastructure projects[17] - Cash paid for various taxes increased by 42.02% year-on-year, primarily due to higher VAT and related surcharges[17] - Cash paid for other operating activities decreased by 71.61% year-on-year, mainly due to the recovery of expired guarantee deposits[17] - Cash received from investment recoveries doubled compared to the same period last year, mainly from the recovery of futures margin by a subsidiary[17] - Cash received from investment income decreased by 100% year-on-year, as no cash dividends were received from a joint venture[17] - Cash paid for the acquisition of fixed assets and other long-term assets increased by 67.34% year-on-year, primarily for payments related to ongoing projects[17] - Cash received from borrowings decreased by 35.45% year-on-year, reflecting reduced working capital needs[17] Assets and Shareholder Information - Total assets decreased by 3.39% to CNY 2,517,339,102.27 from CNY 2,605,781,316.59 at the end of the previous year[8] - The number of shareholders at the end of the reporting period was 20,315[11] - The top shareholder, Fuzhou Taishun Industrial Co., Ltd., holds 22.25% of shares, totaling 67,091,436 shares[11] Investments and Fair Value - Investment income increased by 265.07% compared to the previous year, attributed to effective futures hedging[16] - The company reported a 100% decrease in fair value gains due to no positions held in copper and aluminum futures at the end of the period[16] - Significant decrease in prepayments by 79.09% due to lower procurement prices for copper and aluminum materials, which fell by 14.13% and 8.84% respectively[15] - Other non-current assets increased by 232.85%, primarily due to an increase in prepaid fixed asset payments[15] Tax and Income Tax Expense - The company's income tax expense decreased by 33.73% compared to the same period last year, primarily due to a reduction in total profit[17] Securities Holdings - The company holds shares in Industrial Bank with an initial investment of CNY 4,784,000 and a holding of 3,369,600 shares, representing 0.018% of the total shares[28] - The company also holds shares in Industrial Securities with an initial investment of CNY 126,661.18 and a holding of 130,000 shares, representing 0.005% of the total shares[28] - The total investment in securities amounts to CNY 4,910,661.18 with a total holding of 3,499,600 shares[28] - The total book value of the securities held is CNY 33,206,992[28] - There was no gain or loss reported for the securities during the reporting period[28]