RSPC(SZ:002493)2014-04-24 16:00Revenue and Profitability - Revenue for Q1 2014 reached ¥7,659,008,235.39, an increase of 36.14% compared to ¥5,625,908,573.36 in the same period last year[8] - Net profit attributable to shareholders was -¥141,858,203.41, a decrease of 1,046.79% from ¥14,983,050.35 in the previous year[8] - Operating revenue increased by 36.14% year-on-year, primarily driven by increased revenue from subsidiaries Zhejiang Shengyuan Chemical Fiber Co., Ltd. and Yisheng Dahua Petrochemical Co., Ltd.[17] - The company expects a net loss of between -15,000 and -5,000 thousand yuan for the first half of 2014, compared to a net profit of 6,289.14 thousand yuan in the same period of 2013.[21] - The company attributes the expected loss to the ongoing adjustment cycle in the PTA and polyester industry, with no significant improvement in supply-demand relationships and persistently low product prices.[21] Cash Flow and Assets - Operating cash flow increased significantly by 647.98%, reaching ¥1,066,445,887.14 compared to ¥142,577,100.49 in the same period last year[8] - Total assets at the end of the reporting period were ¥33,543,458,990.13, up 18.24% from ¥28,368,092,299.32 at the end of the previous year[8] - Cash and cash equivalents increased by 63.39% due to increased guarantee deposits at a subsidiary[16] - The company's net assets attributable to shareholders decreased by 2.15%, totaling ¥6,880,488,164.01 compared to ¥7,031,382,994.26 at the end of the previous year[8] Liabilities and Receivables - Accounts payable increased by 66.55% year-on-year, primarily due to the increase in accounts payable of the subsidiary Yisheng Dahua Petrochemical Co., Ltd.[17] - Advance receipts increased by 214.22% year-on-year, mainly due to the increase in customer advance payments at Yisheng Dahua Petrochemical Co., Ltd.[17] - Accounts receivable decreased by 56.19% as a result of reduced customer payments at a subsidiary[16] Inventory and Financial Performance - Inventory increased by 52.57% due to higher stock levels at a subsidiary[16] - Operating costs increased by 38.57% year-on-year, mainly due to the expansion of production and sales scale, leading to higher costs associated with product sales.[17] - Financial expenses increased by 261.04% year-on-year, primarily due to increased interest expenses on borrowings by the company and its subsidiaries.[17] - Investment income decreased by 277.51% year-on-year, mainly due to a decrease in net profits of investee companies accounted for using the equity method.[18] Shareholder Information - The total number of shareholders at the end of the reporting period was 27,351[12] Trading and Financial Assets - Trading financial assets decreased by 77.3% primarily due to a reduction in futures contracts held by a subsidiary[16]