TIANSHAN BIO(SZ:300313)2014-04-28 16:00Financial Performance - Total revenue for Q1 2014 was CNY 14,363,265.86, an increase of 10.27% compared to CNY 13,025,108.92 in the same period last year[8]. - Net profit attributable to ordinary shareholders was CNY 74,449.51, a significant turnaround from a loss of CNY 1,921,993.10, representing a 103.87% increase[8]. - Basic earnings per share rose to CNY 0.0008 from a loss of CNY 0.0211, marking a 103.79% increase[8]. - Operating profit improved significantly, with a loss of 160,212.80 yuan compared to a loss of 3,605,027.11 yuan in the same period last year, reflecting a 95.56% improvement[27]. - The net profit attributable to the parent company was 74,449.51 yuan, a year-on-year increase of 103.87%[27]. - The company reported a net cash flow from operating activities of 5,680,915.77 yuan, a turnaround from a negative cash flow of 10,575,848.56 yuan in the previous year, marking a 153.72% improvement[29]. - The company reported a gross profit margin of approximately 1.5% for Q1 2014, compared to a negative margin in the previous year[66]. - The total comprehensive income for the quarter was CNY 50,302.80, recovering from a comprehensive loss of CNY -1,388,082.65 in the previous year[70]. Cash Flow and Liquidity - Net cash flow from operating activities improved to CNY 5,680,915.77, up 153.72% from a negative CNY 10,575,848.56 in the previous year[8]. - Cash inflow from operating activities increased by 314.78% to 67,715,461.81 yuan, while cash outflow increased by 130.60% to 62,034,546.04 yuan[29]. - The company's cash and cash equivalents decreased from RMB 209,221,095.24 to RMB 194,083,996.34, reflecting a decline in available cash[58]. - Cash and cash equivalents at the end of the period increased to CNY 53,631,272.34, compared to CNY 34,667,514.16 at the end of the previous year[74]. - The total cash flow from financing activities was CNY 9,624,106.53, an increase from CNY 6,321,148.80 in the same quarter last year[74]. Assets and Liabilities - Total assets decreased by 12% to CNY 470,235,793.97 from CNY 534,374,399.58 at the end of the previous year[8]. - Current assets decreased from RMB 397,282,940.37 to RMB 330,204,425.07, indicating a reduction in liquidity[58]. - The company's accounts receivable decreased from RMB 21,555,001.93 to RMB 17,161,097.86, suggesting improved collection efficiency[58]. - Total liabilities decreased to CNY 49,511,634.95 from CNY 106,227,827.39, a reduction of 53.4%[64]. Operational Strategy and Risks - The company plans to expand its product lines and market share through investments and collaborations, while also focusing on cost control to mitigate performance risks[12]. - The company is adjusting its development strategy to implement vertical integration measures, although it faces uncertainties in market demand and operational challenges[12]. - The company faces significant risks from animal diseases, which could severely impact production and operations[15]. - The company has implemented various disease prevention measures, including isolation and vaccination, to mitigate risks[16]. - The company faces risks related to seasonal fluctuations in revenue due to government procurement processes, which accounted for 74.12% and 90.73% of sales in 2012 and 2013 respectively[10]. Shareholder Information and Dividends - The total number of shareholders at the end of the reporting period was 4,894[18]. - The largest shareholder, Tianshan Agricultural Development Co., Ltd., holds 30.84% of the shares, totaling 28,040,000 shares[18]. - The company’s cash dividend policy mandates a minimum of 20% of the distributable profit to be distributed as cash dividends annually[47]. - The company plans to distribute cash dividends of no less than 20% of the distributable profits for the year, ensuring a stable return for shareholders[51]. - For the fiscal year 2013, the company proposed a cash dividend of RMB 0.50 per 10 shares, totaling RMB 4,545,500.00, subject to shareholder approval[55]. Investment and Fund Utilization - The total amount of funds raised in this quarter is 26,099.82 million CNY, with a total of 2,600 million CNY invested in this quarter[37]. - The cumulative amount of changed-use raised funds is 9,818.2 million CNY, accounting for 37.62% of the total raised funds[37]. - The company has committed to investment projects totaling 11,443.19 million CNY, with 9,818.2 million CNY already invested[38]. - The company has also allocated 2,200 million CNY to repay bank loans, achieving a 100% completion rate[38]. - The company has not reported any issues in the use and disclosure of raised funds[39].