GZYK(SZ:002524)2014-04-29 16:00Revenue and Profit - Revenue for the first quarter reached ¥85,033,453.10, a significant increase of 233.01% compared to ¥25,534,555.34 in the same period last year[8] - Net profit attributable to shareholders was -¥13,871,134.12, representing a decline of 37.44% from -¥10,092,809.96 year-over-year[8] - Total operating revenue for Q1 2014 was CNY 85,033,453.10, a significant increase from CNY 25,534,555.34 in the same period last year, representing a growth of approximately 233%[41] - The company's operating profit for Q1 2014 was a loss of CNY 12,500,056.61, compared to a loss of CNY 11,582,214.44 in the previous year[41] - The net profit for the first quarter was a loss of CNY 12,596,266.98, worsening from a loss of CNY 10,092,809.96 in the same period last year[43] - The company reported a total comprehensive loss of CNY 12,596,266.98 for the quarter, compared to a loss of CNY 10,092,809.96 in the previous period[43] Cash Flow and Liquidity - Operating cash flow improved, with a net cash flow of -¥17,076,832.24, a 46.62% increase from -¥31,988,698.48 in the previous year[8] - The company's cash and cash equivalents decreased from CNY 469.30 million at the beginning of the period to CNY 198.47 million at the end of the period, indicating a significant reduction in liquidity[29] - The company's cash and cash equivalents decreased to CNY 142,945,311.56 from CNY 383,169,775.40[36] - The company reported a total cash and cash equivalents balance of CNY 198,466,913.57 at the end of the period, down from CNY 241,190,072.24 at the end of the previous period[51] - The company’s cash and cash equivalents decreased by 240,224,463.84 during the quarter[54] - The initial cash and cash equivalents balance was 383,169,775.40, indicating a significant decrease by the end of the quarter[56] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,978,112,477.34, a decrease of 0.69% from ¥1,991,921,842.53 at the end of the previous year[8] - Current assets totaled CNY 766,844,473.23, a decrease from CNY 817,017,918.69 in the previous quarter[36] - Total liabilities amounted to CNY 958,884,419.07, slightly up from CNY 957,135,582.69[32] - The total equity attributable to shareholders was CNY 836,717,517.63, down from CNY 850,342,846.82[32] - The company reported a decrease in retained earnings to CNY 12,732,486.47 from CNY 26,603,620.59[32] Investments and Expenses - The company experienced a 307.83% rise in cash paid for acquiring fixed assets, intangible assets, and other long-term assets, linked to increased investments in the gas segment[16] - Investment income increased by 1054.65%, driven by higher returns from principal-protected financial products[16] - Sales expenses surged by 696.73%, attributed to the integration of the gas segment's corresponding expenses[16] - The total investment activities resulted in a net cash outflow of CNY 237,591,795.83, compared to CNY 93,964,325.24 in the previous period[49] - The company incurred financial expenses of CNY 8,271,128.05, which increased from CNY 5,839,413.13 in the previous period[45] Shareholder Information - The number of shareholders at the end of the reporting period was 20,204, with the largest shareholder holding 31.81% of the shares[11] Strategic Developments - The company obtained a Class B design qualification certificate in the construction industry, enhancing its steel structure design capabilities and brand strength, which is expected to facilitate order expansion in the steel structure business[18] - The company plans to invest CNY 41.35 million to acquire 51% of Xinjiang Lihua Green Source New Energy Co., Ltd. and hold a 20% stake in Lihua Gas, aiming to expand into the natural gas market and logistics sector in the economically developed Bazhou market[19] - A strategic cooperation agreement was signed with Tarim Oilfield Southwest Petroleum Exploration and Development Company to jointly develop natural gas terminal businesses in five southern Xinjiang prefectures, enhancing the company's competitive edge in the natural gas market[20] Future Outlook - The company expects a net loss of between CNY 8 million and CNY 14 million for the first half of 2014, compared to a net profit of CNY -596.06 million in the same period of 2013, due to business expansion and increased related expenses[25] Audit Information - The company did not undergo an audit for the first quarter report[56]