GZBL(SZ:002424)2014-04-27 16:00Financial Performance - The company's operating revenue for Q1 2014 was CNY 349,523,145.23, representing a 3.64% increase compared to CNY 337,254,201.44 in the same period last year[8] - Net profit attributable to shareholders for Q1 2014 was CNY 76,365,819.01, reflecting a 13.22% increase from CNY 67,446,403.92 year-on-year[8] - Basic earnings per share increased by 14.29% to CNY 0.16 from CNY 0.14 in the same quarter last year[8] - The company’s income tax expense for the period was 13.38 million yuan, a 43.92% increase from 9.30 million yuan in the same period last year, reflecting the growth in profits[18] - The net profit attributable to shareholders for the first half of 2014 is expected to be between 130 million and 153 million RMB, representing a growth of 10% to 30% compared to the same period in 2013[25] - The net profit for the first half of 2013 was 118.41 million RMB, indicating a stable growth trajectory for the company[25] Cash Flow and Assets - The net cash flow from operating activities improved significantly to CNY 38,520,851.73, compared to a negative cash flow of CNY -32,188,509.38 in the previous year[8] - The net cash flow from operating activities for the period was 38.52 million yuan, a significant increase from -32.19 million yuan in the same period last year, attributed to higher sales collections[19] - The company’s cash flow from financing activities was -159.42 million yuan, worsening from -70.65 million yuan in the same period last year, mainly due to loan repayments[19] - Total assets at the end of the reporting period were CNY 3,347,170,468.85, down 3.79% from CNY 3,479,168,982.98 at the end of the previous year[8] - The net assets attributable to shareholders increased by 3.63% to CNY 2,182,207,208.25 from CNY 2,105,841,389.24 at the end of the previous year[8] Shareholder Information - The total number of shareholders at the end of the reporting period was 28,816[11] - The largest shareholder, Jiang Wei, holds 52.73% of the shares, with 186,014,400 shares pledged[11] - The company did not engage in any repurchase transactions during the reporting period[13] Operational Highlights - The company received government subsidies amounting to CNY 1,205,492.50 during the reporting period[9] - Operating income increased significantly, with non-operating income rising to 1.24 million yuan, a 1,412.43% increase from 82,000 yuan in the previous year, primarily due to government subsidies received[18] - The company's production and operations are normal, with continuous stable growth in sales of major products[25] - The sales team remains stable, contributing to the anticipated steady growth in performance[25] Accounts and Liabilities - As of March 31, 2014, accounts receivable amounted to 463.06 million yuan, an increase of 38.87% compared to the beginning of the year, primarily due to increased sales revenue and larger credit sales[16] - As of March 31, 2014, prepaid accounts reached 120.63 million yuan, a growth of 88.27% from the beginning of the year, mainly due to increased advance payments for procurement[16] - As of March 31, 2014, the company had no non-current liabilities due within one year, a decrease from 70 million yuan at the beginning of the year, due to repayment of bank loans[16] - The company reported a 46.84% decrease in asset impairment losses, totaling 7.49 million yuan, compared to 14.09 million yuan in the same period last year, due to a lower growth rate of accounts receivable[17] - The company’s long-term deferred expenses increased by 196.89% to 1.06 million yuan, primarily due to increased maintenance costs for equipment[16] - The company’s employee compensation payable decreased by 47.56% to 3.38 million yuan, compared to 6.44 million yuan at the beginning of the year, due to the distribution of last year's accrued bonuses[16]