ST摩登(002656) - 2014 Q1 - 季度财报

Financial Performance - Revenue for the first quarter was CNY 223,863,790.51, an increase of 1.61% compared to CNY 220,306,983.54 in the same period last year[7]. - Net profit attributable to shareholders decreased by 48.27% to CNY 36,848,064.74 from CNY 71,235,689.95 year-on-year[7]. - Net profit excluding non-recurring gains and losses fell by 51.23% to CNY 34,322,932.06 compared to CNY 70,383,720.07 in the previous year[7]. - Basic and diluted earnings per share both decreased by 50% to CNY 0.18 from CNY 0.36 in the same period last year[7]. Cash Flow - Operating cash flow improved significantly, with a net cash flow from operating activities of CNY 28,301,305.96, a 383.33% increase from a negative CNY 9,988,984.31 last year[7]. - Net cash flow from operating activities increased by 383.33% compared to the same period last year, driven by higher cash receipts from sales and lower tax payments[27]. - Net cash flow from investing activities decreased by 60.00% year-on-year, mainly due to reduced expenditures on property acquisitions[28]. - Net cash flow from financing activities declined by 118.92% compared to the previous year, primarily due to increased cash outflows for repaying bank loans[29]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,107,387,801.28, down 1.05% from CNY 2,129,674,059.10 at the end of the previous year[7]. - Net assets attributable to shareholders increased by 3.03% to CNY 1,280,181,967.17 from CNY 1,242,545,379.31 at the end of the previous year[7]. - Financial expenses increased by 208.70% compared to the same period last year, mainly due to reduced interest income from idle funds and increased interest expenses from bank loans[24]. - Asset impairment losses decreased by 114.65% year-on-year, primarily due to a reduction in accounts receivable and corresponding bad debt provisions[25]. Operational Changes - Sales expenses increased by 63.04% due to the expansion of store numbers and related costs[23]. - Prepaid accounts increased by 39.05% as a result of expanded business operations and increased procurement deposits[15]. - Operating income from non-operating activities grew by 196.45% year-on-year, mainly due to an increase in government subsidies received[26]. Future Outlook and Plans - The company expects net profit attributable to shareholders for the first half of 2014 to range from 60.62 million to 77.94 million yuan, representing a decrease of 10% to 30% compared to the same period in 2013[35]. - The company plans to adjust its marketing network construction project, with new outlets primarily located in Guangzhou and Macau, covering approximately 4,000 square meters[31]. - The company has committed to not engaging in high-risk investments or providing financial assistance for twelve months after repaying bank loans, with cumulative use of raised funds not exceeding 30% of the total raised amount[34]. - The company will adjust the construction period of its fundraising projects, extending the completion date to February 28, 2015[32].