FLDT(SH:600228)2017-04-25 16:00Financial Performance - Operating revenue increased by 22.41% to CNY 115,438,291.16 compared to the same period last year[7] - Net profit attributable to shareholders was CNY -6,747,084.19, showing a slight improvement from CNY -6,973,635.95 in the previous year[7] - The weighted average return on net assets was -30.91%, compared to -12.67% in the previous year[7] - Operating profit for Q1 2017 was a loss of CNY 4,249,853.66, an improvement from a loss of CNY 5,610,310.59 in Q1 2016[24] - Net profit for Q1 2017 was a loss of CNY 7,682,564.74, compared to a loss of CNY 8,716,264.98 in the previous year[25] - The net profit attributable to shareholders of the parent company for Q1 2017 was a loss of CNY 6,747,084.19, slightly better than a loss of CNY 6,973,635.95 in Q1 2016[25] Assets and Liabilities - Total assets increased by 2.72% to CNY 470,086,012.27 compared to the end of the previous year[7] - Total liabilities increased to CNY 373,264,710.63 from CNY 353,913,401.48, indicating a rise in financial obligations[18] - Total assets at the end of the reporting period were CNY 201,820,293.86, down from CNY 205,050,664.04 at the beginning of the year[21] - Total liabilities increased to CNY 246,664,716.23 from CNY 244,756,778.99 at the beginning of the year[21] - The total equity attributable to shareholders of the parent company was negative CNY 44,844,422.37, compared to negative CNY 39,706,114.95 at the beginning of the year[21] Cash Flow - Net cash flow from operating activities decreased by 91.42% to CNY 1,164,427.48 compared to the same period last year[7] - Cash and cash equivalents increased by 33.85% to CNY 39,541,531.42 due to bank loans received[11] - The cash flow from operating activities generated a net cash inflow of ¥1,164,427.48, down 91.4% from ¥13,577,767.85 in the previous year[29] - The total cash and cash equivalents at the end of Q1 2017 amounted to ¥39,541,531.42, a decrease of 35.9% from ¥61,742,156.26 at the end of Q1 2016[30] - The net cash flow from financing activities was ¥9,178,426.34, showing a slight increase from ¥8,955,156.46 in Q1 2016[30] Shareholder Information - The number of shareholders at the end of the reporting period was 26,390[10] - The largest shareholder, Jiangxi Changjiu Chemical Group Co., Ltd., holds 18.22% of the shares[10] Inventory and Expenses - Inventory increased by 30.02% to CNY 36,540,430.94 as the company increased raw material stock to mitigate price risks[11] - Sales expenses decreased by 48.94% to ¥3,168,464.05 compared to the same period last year, primarily due to reduced transportation costs[12] - Management expenses decreased by 53.54% to ¥3,799,914.26, mainly due to a reduction in technology research and development expenses[12] - Other income decreased by 86.56% to ¥100,500.13, primarily due to a decrease in gains from debt restructuring compared to the previous year[12] Equity and Retained Earnings - The company reported a net loss of ¥589,616,818.76 in retained earnings, compared to a loss of ¥582,869,734.57 at the beginning of the year[18] - Basic and diluted earnings per share for Q1 2017 were both CNY -0.028, consistent with the previous year[25] Regulatory and Operational Updates - The company is in the process of transferring 100% equity of Jiangxi Changjiu Group Co., Ltd. for ¥143,229.22 million, pending approval from the State-owned Assets Supervision and Administration Commission[13] - Jiangxi Changjiu Agricultural Science and Technology Co., Ltd. has initiated the extension process for its safety production license, which is due to expire on June 11, 2017[14]