*ST三盛(300282) - 2014 Q1 - 季度财报

Financial Performance - Total revenue for Q1 2014 reached ¥44,635,596.66, an increase of 87.78% compared to ¥23,770,518.02 in the same period last year[8] - Net profit attributable to ordinary shareholders was a loss of ¥5,000,668.50, a decrease of 2,182.87% from a profit of ¥240,085.14 in the previous year[8] - The company achieved sales revenue of ¥13,020,000 from a major project with Lenovo, with cumulative revenue of ¥24,430,000 by the end of March 2014[12] - The company reported a significant increase in construction in progress by 636.34% to CNY 19,025,371.78, attributed to the investment in the R&D center[22][23] - The company reported a net loss of 8,850,082.05 CNY for the year 2013, leading to no profit distribution or capital reserve increase[46] - Operating profit for the current period is -¥3,990,342.52, compared to a profit of ¥201,154.41 in the previous period, reflecting a significant decline[61] - Net profit for the current period is -¥3,932,811.18, down from a profit of ¥240,085.14 in the previous period, marking a substantial decrease[62] Cash Flow and Liquidity - The net cash flow from operating activities was ¥503,597.37, a significant improvement from a negative cash flow of ¥7,961,650.66 in the same period last year[8] - As of March 31, 2014, cash and cash equivalents decreased by 9.80% to CNY 116,265,182.45 from CNY 128,896,501.22 at the end of 2013[22] - The company’s investment activities resulted in a net cash outflow of CNY -13,103,813.93, a significant increase of 943.83% compared to the previous year[29][30] - Cash flow from operating activities for the current period is ¥503,597.37, a recovery from a negative cash flow of -¥7,961,650.66 in the previous period[68] - Cash and cash equivalents at the end of the current period total ¥116,265,182.45, down from ¥174,006,231.02 at the end of the previous period[69] - The total cash increase for the period was -$10,375,678.09, slightly worse than the previous period's decrease of -$9,490,105.70[72] Assets and Liabilities - Total assets at the end of the reporting period were ¥325,779,350.99, reflecting a slight increase of 0.85% from ¥323,023,701.96 at the end of the previous year[8] - The total liabilities increased by 16.78% to CNY 45,211,851.16, with accounts payable rising by 41.61% to CNY 38,321,974.78 due to increased procurement[24] - Total current liabilities increased from ¥38,701,299.70 to ¥45,005,693.46, an increase of about 16.5%[55] - Total current assets decreased from ¥222,766,716.47 to ¥208,809,387.70, a decline of approximately 6.5%[53] - Shareholders' equity decreased from ¥284,308,014.66 to ¥280,567,499.83, a decline of about 1.0%[55] Operational Challenges and Risks - The company faces risks from intensified competition in the Win8 market, which may impact profit margins due to reliance on high sales volume[10] - There is a risk of order fluctuations from clients, particularly concerning the Lenovo project, which has a total procurement amount of $62.49 million[11] - The company is undergoing a significant asset restructuring with Shenzhen Wangxin Precision, which is subject to approval and carries a risk of transaction termination[14] - The company is facing challenges in ensuring rapid, large-scale, and stable supply of infrared touch screens, especially in the low-margin Win8 consumer electronics sector[31] Investment and R&D - The company has committed to establishing a wholly-owned subsidiary in Taiwan, with an investment of CNY 275.48 million, achieving 100% completion[41] - The infrared touch screen technology renovation project has a total investment commitment of CNY 6,981.4 million, with 47.48% progress achieved by the end of the reporting period[41] - The optical imaging touch screen development and industrialization project has achieved 100% of its investment commitment of CNY 4,417.73 million[41] - The company accelerated new product R&D, patent applications, and faced increased rental costs for office space in Beijing, impacting project timelines[41] Sales and Expenses - Sales expenses increased by 50.35% year-on-year to CNY 4,117,113.86, primarily due to the expansion of operations in Taiwan and Guangzhou Huaxin[27] - Management expenses for the current period are ¥11,753,152.31, up from ¥7,010,047.44 in the previous period, indicating an increase of about 67.1%[61] - The company incurred sales expenses of ¥4,117,113.86, which is an increase from ¥2,738,289.78 in the previous period, reflecting a rise of approximately 50.3%[61] Regulatory and Compliance - The company is currently in the feedback process for its major asset restructuring project, with uncertain impacts on future financial results[47] - The company has not experienced any violations regarding funding provision to controlling shareholders or related parties during the reporting period[48] - The company did not conduct an audit for the first quarter report[73]