福田汽车(600166) - 2018 Q1 - 季度财报

Financial Performance - Operating revenue decreased by 14.22% to CNY 9.41 billion year-on-year[6] - Net profit attributable to shareholders decreased by CNY 663.16 million, a decline of 340.70% compared to the same period last year[6] - The company's net profit for Q1 2018 was a loss of 615.78 million RMB, a decline of 959.62% compared to the previous period[15] - Operating profit decreased to -780.04 million RMB, down 932.00% year-on-year, primarily due to a drop in gross profit and increased operating expenses[15] - The company's net profit for Q1 2018 was a loss of ¥615,779,648.00, compared to a profit of ¥71,633,631.86 in Q1 2017, representing a significant decline[37] - The net profit for Q1 2018 was a loss of ¥196,202,579.29, compared to a profit of ¥93,533,045.26 in Q1 2017, indicating a significant decline[40] - The total profit for Q1 2018 was a loss of ¥219,220,758.98, contrasting with a profit of ¥104,506,195.82 in the previous year[40] Cash Flow - Cash flow from operating activities showed a negative net amount of CNY 2.44 billion, a decrease of 45.50% year-on-year[6] - The net cash flow from operating activities was -2.44 billion RMB, a decrease of 45.50% compared to the previous period[17] - The net cash flow from operating activities for Q1 2018 was -¥2,441,523,077.95, worsening from -¥1,678,038,694.78 in Q1 2017[43] - The total cash outflow from operating activities was ¥9,773,007,249.71 in Q1 2018, compared to ¥9,302,750,359.45 in Q1 2017[43] - The financing activities generated a net cash flow of ¥4,793,865,310.01 in Q1 2018, up from ¥2,014,506,453.18 in the previous year[44] - Cash inflow from financing activities totaled $7.08 billion, significantly up from $2.15 billion year-over-year[46] - Net cash flow from financing activities was $4.85 billion, an increase from $1.35 billion in the same quarter last year[46] - The net increase in cash and cash equivalents for the period was $1.08 billion, contrasting with a decrease of $808.23 million in the previous year[46] Assets and Liabilities - Total assets increased by 6.24% to CNY 66.31 billion compared to the end of the previous year[6] - The total assets at the end of Q1 2018 were 66.31 billion RMB, an increase of 3.89 billion RMB from the beginning of the year, while total liabilities rose to 47.84 billion RMB, an increase of 4.47 billion RMB[21] - The total liabilities of the company reached CNY 47.84 billion, up from CNY 43.38 billion, representing an increase of about 10.6%[30] - The asset-liability ratio increased to 72.1%, up 2.66% from the beginning of the year, primarily due to rapid growth in financial services and increased working capital needs[21] - Current liabilities totaled ¥33,018,254,821.95, an increase of 11.3% from ¥29,665,626,227.93 in the previous year[34] - The company's total liabilities reached ¥37,474,054,226.19, an increase of 12.9% from ¥33,315,944,405.45 in the previous year[34] Shareholder Information - The number of shareholders reached 180,193, with the largest shareholder holding 27.07% of the shares[9] - The equity attributable to shareholders decreased to CNY 18.38 billion from CNY 18.96 billion, a decline of approximately 3.1%[30] Inventory and Receivables - Accounts receivable increased by 461.45% to CNY 1.61 billion, indicating a substantial rise in credit sales[12] - Inventory levels rose by 30.03% to CNY 5.56 billion, reflecting increased stock of light trucks and new energy vehicles[12] - Accounts receivable decreased to CNY 11.23 billion from CNY 12.72 billion, reflecting a reduction of approximately 11.7%[28] - Inventory levels rose to CNY 5.56 billion, up from CNY 4.27 billion, indicating an increase of around 30%[28] Operational Strategy - The company plans to enhance product competitiveness by launching new models, including a new medium-duty truck and various upgrades to existing product lines[22] - The company is focusing on cost control measures, including optimizing procurement and reducing management expenses to improve profitability[22] Other Income and Expenses - The company recorded non-operating income of CNY 59.45 million, primarily from government subsidies and asset disposals[8] - The company reported a decrease in sales costs to ¥7,198,922,004.10 in Q1 2018 from ¥8,530,008,156.30 in Q1 2017[39] - The company's investment activities resulted in a net cash outflow of -¥998,324,599.24 in Q1 2018, compared to -¥727,873,710.92 in Q1 2017[43]