TWH(SZ:002512)2014-04-25 16:00Revenue and Profit - Revenue for the first quarter reached ¥98,997,114.99, an increase of 20.15% compared to ¥82,391,460.70 in the same period last year[8] - Net profit attributable to shareholders decreased by 29.62% to ¥6,854,105.82 from ¥9,738,650.77 year-on-year[8] - Basic earnings per share fell by 36.93% to ¥0.0193 from ¥0.0306 in the previous year[8] - Operating income increased by 20% year-on-year, mainly due to the inclusion of the new subsidiary, Dongwang, in the consolidation scope[16] - Net profit attributable to shareholders decreased by 29.62% year-on-year, primarily due to an increased proportion of software revenue and the seasonal characteristics of software project acceptance concentrated in the second half of the year[16] - The company expects net profit attributable to shareholders for the first half of 2014 to range from 18.86 million yuan to 28.29 million yuan, reflecting a change of -20% to 20% compared to the same period last year[19] Cash Flow and Operating Activities - The net cash flow from operating activities improved to -¥27,276,667.93, compared to -¥44,176,240.07 in the same period last year[8] - Cash flow from operating activities increased by approximately 16.9 million yuan year-on-year, mainly due to increased payments received and the recovery of earnest money[16] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,056,927,783.21, a decrease of 2.98% from ¥2,120,075,748.30 at the end of the previous year[8] - Net assets attributable to shareholders increased by 1.18% to ¥1,425,479,527.37 from ¥1,408,850,421.55 at the end of the previous year[8] - Long-term equity investments increased by 203% compared to the end of the previous year, mainly due to increased investment in Zhongshan Chengda Microfinance Co., Ltd.[16] - Asset impairment losses increased by 116% year-on-year, primarily due to an increase in accounts receivable leading to higher bad debt provisions[16] Shareholder Information - The total number of shareholders at the end of the reporting period was 16,054[12] - The largest shareholder, Cai Xiaoru, holds 52.41% of the shares, with 185,695,200 shares, of which 139,271,400 are pledged[12] Expenses and Financial Performance - Management expenses increased by 63% year-on-year, primarily due to the addition of new subsidiaries Dongwang and Zhongda[16] - Financial expenses decreased by 187% year-on-year, mainly due to a decrease in interest income and an increase in interest expenses[16] Investments - The company holds an investment of 61,100,000 CNY in Yabao Pharmaceutical, with an initial shareholding of 10,000,000 shares, representing 1.45% of the total shares[20] - The end-of-period shareholding in Yabao Pharmaceutical increased to 10,000,000 shares, maintaining a 1.45% ownership stake, with a book value of 73,900,000 CNY[20] - There were no reported gains or losses from the investment in Yabao Pharmaceutical during the reporting period[20] Other Financial Metrics - The weighted average return on equity decreased to 0.49% from 1.02% in the previous year[8] - Prepaid accounts increased by 31% compared to the end of the previous year, mainly due to increased advance payments for various projects by subsidiaries[16] - Interest receivables increased by 348% compared to the end of the previous year, primarily due to bank time deposits not yet reaching the interest payment date[16]