XTC(SH:600549)2019-04-19 16:00Financial Performance - Operating revenue for the period was CNY 3.81 billion, an increase of 11.68% year-on-year[4] - Net profit attributable to shareholders was CNY -26.26 million, a decrease of 187.38% compared to the same period last year[4] - The company's tungsten business saw a profit of CNY 74.43 million, down 33.60% year-on-year due to decreased demand[9] - The battery materials segment reported a loss of CNY 42.08 million, a decrease in profit of CNY 82.87 million year-on-year due to falling cobalt prices[9] - The rare earth business achieved a profit of CNY 3.83 million, an increase of CNY 2.42 million year-on-year[9] - Real estate segment profit increased to CNY 66.07 million, up CNY 89.88 million year-on-year due to project completion[9] - Net profit decreased by 50.77% to ¥25,577,939.62, primarily due to a significant decline in battery material business profitability[13] - Total profit fell by 54.92% to ¥37,602,400.10, driven by a drop in product prices[13] - Earnings per share (EPS) for Q1 2019 was -0.0187, compared to 0.0214 in Q1 2018, indicating a decline in profitability[22] - The company experienced a decrease in profit before tax, which was CNY 37,602,400.10 in Q1 2019, down from CNY 83,411,082.31 in Q1 2018, a decline of 55.1%[22] Cash Flow and Liquidity - Cash flow from operating activities improved to CNY -131.76 million, compared to CNY -553.02 million in the previous year[4] - Cash and cash equivalents increased by 44.46% to CNY 1.80 billion, attributed to the issuance of short-term financing bonds[10] - Cash and cash equivalents rose to ¥1,795,821,886.42 from ¥1,243,127,613.79, indicating improved liquidity[15] - The total cash flow from operating activities was negative at approximately -¥131.8 million in Q1 2019, an improvement from -¥553.0 million in Q1 2018[27] - The company generated cash inflows from operating activities totaling approximately ¥3.03 billion in Q1 2019, compared to ¥2.68 billion in Q1 2018[27] - The total cash inflow from financing activities was approximately ¥4.06 billion in Q1 2019, significantly higher than ¥2.80 billion in Q1 2018[29] - The company reported a total cash and cash equivalents balance of $1,247,477,000.97 at the end of Q1 2019, up from $754,888,824.20 at the end of Q1 2018, indicating an increase of about 65.3%[32] Assets and Liabilities - Total assets increased by 4.89% to CNY 23.61 billion compared to the end of the previous year[4] - Total liabilities increased to ¥14.52 billion from ¥13.34 billion, an increase of approximately 8.9%[18] - Current liabilities rose to ¥12.13 billion, compared to ¥10.97 billion, marking an increase of about 10.5%[18] - Total assets increased to ¥23.61 billion, up from ¥22.51 billion, representing a growth of approximately 4.9% year-over-year[18] - The company reported a total liability of CNY 8,779,651,675.96 in Q1 2019, compared to CNY 7,226,971,965.17 in Q1 2018, representing an increase of 21.5%[21] - Total liabilities amounted to ¥13,342,698,723.75, with non-current liabilities at ¥2,374,045,446.55[35] - Total equity reached ¥9,162,465,569.41, including ¥7,246,758,596.99 attributable to shareholders[35] Investments and Expenses - R&D expenses increased by CNY 39.26 million year-on-year due to higher investments in emerging industries[9] - Research and development expenses for Q1 2019 were CNY 175,720,219.72, an increase of 28% from CNY 137,370,196.60 in Q1 2018[21] - Interest expenses increased by 55.95% to ¥115,853,603.46 due to higher financing needs[12] - Financial expenses for Q1 2019 were approximately ¥54.3 million, compared to ¥41.9 million in Q1 2018, reflecting increased borrowing costs[24] Other Financial Metrics - Investment income surged by 698.71% to ¥72,660,731.83, attributed to revenue recognition from a real estate project[12] - The company reported a significant increase in other receivables to ¥5.08 billion from ¥4.22 billion, a rise of about 20.4%[19] - Accounts receivable increased by 49.25% to ¥902,947,434.20 due to an increase in bank acceptance bills collected by subsidiaries[11] - Prepayments rose by 65.36% to ¥141,609,115.61 as subsidiaries received more order payments[11] - The company reported a retained earnings balance of ¥2,304,555,121.76[35] - The company has a capital reserve of ¥3,064,845,445.77, reflecting strong financial backing[35] Accounting Changes - The company implemented the new financial instrument standards starting January 1, 2019, adjusting the classification of non-trading equity investments to "other equity instrument investments" and entrusted loans to "debt investments"[40] - The company did not adjust comparative financial statement data in accordance with the new accounting standards[40] - The audit report is not applicable for this period[40]