2014-04-27 16:00Financial Performance - The company's revenue for Q1 2014 was ¥312,624,951.37, a decrease of 30.63% compared to ¥450,657,197.79 in the same period last year[6] - Net profit attributable to shareholders was ¥70,985,141.09, down 48.97% from ¥139,102,767.21 year-on-year[6] - Basic and diluted earnings per share were both ¥0.09, a decline of 47.06% from ¥0.17 in the same period last year[6] - Operating revenue decreased by 30.63% compared to the same period last year, mainly due to a decline in both sales volume and sales price[15] - Net profit attributable to the parent company decreased by 48.97%, as the decline in operating revenue was greater than the decline in operating costs[16] - The net profit attributable to shareholders for the first half of 2014 is expected to decline by 65% to 45%, ranging from 87.593 million to 137.646 million RMB[24] - The net profit for the first half of 2013 was 250.2657 million RMB, indicating a significant decrease in performance year-over-year[24] - The decline in performance is primarily due to a decrease in the sales price of heparin sodium raw materials compared to the same period last year[24] Cash Flow and Assets - The net cash flow from operating activities increased significantly by 188.29%, reaching ¥140,766,096.16 compared to ¥48,828,624.18 in the previous year[6] - Cash flow from operating activities increased by 188.29% compared to the same period last year, mainly due to reduced payments for raw material purchases[18] - Cash flow from investing activities decreased by 99.68%, primarily due to increased net cash inflow from bank wealth management products and the absence of large investment expenditures compared to the previous year[18] - Cash and cash equivalents increased by 163.33% compared to the same period last year, driven by changes in investment and financing activities[18] - Total assets at the end of the reporting period were ¥8,356,835,748.37, reflecting a 1.03% increase from ¥8,271,379,204.50 at the end of the previous year[6] - Net assets attributable to shareholders increased by 1.56% to ¥8,110,641,271.76 from ¥7,986,056,392.22 at the end of the previous year[6] Shareholder Information - The total number of shareholders at the end of the reporting period was 36,198[9] - The top shareholder, Shenzhen Le Ren Technology Co., Ltd., held 36.94% of the shares, amounting to 295,562,100 shares[9] - Shareholder Zhuang Xiuchun conducted a repurchase transaction involving 1,464,000 shares, representing 0.18% of the total share capital[10] Changes in Financial Position - Trading financial assets decreased by 100% at the end of the reporting period due to the expiration and settlement of forward foreign exchange contracts[13] - Prepayments increased by 65.27% at the end of the reporting period, primarily due to increased advance payments for raw material purchases[13] - Accounts payable decreased by 43.73% at the end of the reporting period, mainly due to payments made for engineering equipment[14] - Other receivables decreased by 74.35% at the end of the reporting period, primarily due to a reduction in receivables for export tax rebates[13] Investments - The company invested 9,999,999 USD to acquire 48,147,053 shares of Prometic Life Sciences Inc., representing 10.02% of the enlarged share capital[25] - The purchase cost for the shares in Prometic Life Sciences Inc. was 62,160,000 RMB, with a fair value change amounting to 256,875,709.91 RMB as of March 31, 2014[26] - As of April 21, 2014, the company's shareholding in Prometic Life Sciences Inc. decreased to 9.11% due to an increase in the total number of issued shares[26] Non-Recurring Items - The company reported non-recurring gains and losses totaling ¥1,058,056.21 for the period[7] Consolidation Impact - The consolidation of SPL Acquisition Corp into the financial statements starting April 2014 has led to substantial intermediary and financing costs, negatively impacting operating performance[24]