Pump Accessories,Water Pump Accessories,Water Pump Fittings,Pump Fittings Zhengzhou Shenlong Pump Industry CO.,Ltd , http://www.waterpump-manufacturer.com
In the first quarter of 2014, profitability improved. The company's sales gross margin and sales net profit in the first quarter of 2014 were 34.29% and 15.02%, respectively, up 1.65 percentage points and 1.68 percentage points over the same period of the previous year; the period expense ratio was 15.48%, down 1.37 percentage points year-on-year.
In the first quarter of 2014, the operating capacity decreased and the receivables increased too fast. The company's inventory turnover rate and accounts receivable turnover rate in the first quarter of 2014 were 0.47 and 0.89 respectively (0.48 and 1.45 in the same period of last year), both of which decreased compared with the same period of last year; accounts receivable was 63,698,460 yuan. It increased by 127.45% year-on-year, which was 1.56 times of current operating income.
The company's explanation for this is that sales of superhard materials, metal powders and composites have increased. We believe that the company's production operations and account recovery are significantly seasonal changes, but in the down cycle, too flexible credit policy may increase its receivables risk, the company's receivables management needs to be strengthened.
Yellow River whirlwind: profitability increased receivables increased too fast
The summary grew steadily in the first quarter of 2014. In the first quarter of 2014, the company achieved a main business income of 405.544 million yuan, a year-on-year increase of 9.16%; the net profit attributable to shareholders of listed companies was 61.219 million yuan, an increase of 22.94%;
The first quarter of 2014 grew steadily. In the first quarter of 2014, the company achieved a main business income of 405,544,800 yuan, a year-on-year increase of 9.16%; the net profit attributable to shareholders of listed companies was 61,213,300 yuan, an increase of 22.94%; earnings per share was 0.11 yuan; net cash flow from operating activities The amount was 35.988 million yuan, a year-on-year decrease of 71.29%.