重药控股(000950) - 2014 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2014 was ¥849,830,905.30, a decrease of 0.29% compared to ¥852,331,692.71 in the same period last year[8] - The net profit attributable to shareholders was -¥79,291,464.09, representing a decline of 546.05% from ¥17,776,334.31 in the previous year[8] - The net cash flow from operating activities was -¥99,242,373.00, a significant drop of 1,098.68% compared to ¥9,937,367,13 in the same period last year[8] - The company's basic and diluted earnings per share were both -¥0.1324, a decrease of 545.79% from ¥0.0297 in the same period last year[8] - Net profit for the current period decreased significantly compared to the same period last year, mainly due to a substantial decline in sales prices of urea and melamine[16] - Cash flow from operating activities decreased significantly compared to the same period last year, primarily due to reduced operating profit and increased inventory[18] - The company expects a cumulative net loss of approximately -15,000.00 million yuan for the period from the beginning of the year to the next reporting period, compared to a profit of 2,421.50 million yuan in the same period last year[23] Assets and Liabilities - The total assets at the end of the reporting period were ¥6,739,430,456.92, an increase of 2.9% from ¥6,549,735,426.76 at the end of the previous year[8] - The net assets attributable to shareholders decreased by 3.23% to ¥2,352,878,492.34 from ¥2,431,327,773.27 at the end of the previous year[8] - The company reported a significant increase in short-term borrowings, rising by 34.43% to ¥382,600,000.00 from ¥284,600,000.00[13] - Short-term borrowings increased significantly compared to the beginning of the year, mainly due to new bank loans from Chongqing Chiyuan Chemical Co., Ltd.[15] - The company reported a significant increase in interest payable at the end of the period, primarily due to accrued bond interest[15] Operational Highlights - The company's operating costs increased by 14.13% to ¥845,477,388.88 from ¥740,816,330.14 in the previous year[14] - The total number of shareholders at the end of the reporting period was 37,776[10] - The company completed major repairs on the "One Chemical" unit and all four production units were operational by March, but faced significant losses due to a sharp decline in product prices[19] Inventory and Receivables - Accounts receivable increased significantly compared to the beginning of the year, mainly due to an increase in bank acceptance bills received from product sales[15] - Inventory balance at the end of the period increased significantly compared to the beginning of the year, primarily due to an increase in inventory of urea and melamine[15] Government Support and Investments - The company received government subsidies amounting to ¥59,400.00 during the reporting period[10] - The company purchased bank wealth management products totaling 50 million yuan during the reporting period and redeemed 210 million yuan worth of products[22] Future Outlook - The company has not yet reached a price agreement for shale gas supply as of the report date, despite ongoing negotiations[19]