GLCC(SH:600234)2018-04-27 16:00Financial Performance - Operating revenue surged by 850.14% to CNY 33,021,978.05 year-on-year[6] - Net profit attributable to shareholders reached CNY 1,336,960.68, a significant recovery from a loss of CNY 5,607,534.33 in the same period last year[6] - The company's operating revenue for Q1 2018 reached ¥33,021,978.05, a significant increase of 850.14% compared to ¥3,475,483.65 in Q1 2017, primarily due to the launch of the wine trading business[12] - The company reported a net profit of ¥606.99 million from the wine trading business, with an operating profit of ¥710.88 million[13] - Net profit for the first quarter was ¥3,276,286.73, compared to a net loss of ¥6,283,364.67 in the previous year[25] - The company reported a net profit of -1,038,863.84 yuan for Q1 2018, compared to -3,431,128.56 yuan in the same period last year, indicating an improvement of approximately 69.7%[28] - The company’s total comprehensive income for Q1 2018 was -1,038,863.84 yuan, an improvement from -3,431,128.56 yuan year-over-year, suggesting a positive trend in overall financial performance[28] Assets and Liabilities - Total assets increased by 10.75% to CNY 528,000,490.41 compared to the end of the previous year[6] - Total assets as of March 31, 2018, amounted to ¥528,000,490.41, up from ¥476,755,388.58 at the beginning of the year[18] - Total liabilities decreased slightly from ¥359,866,805.51 to ¥358,834,433.45, a decline of about 0.3%[22] - The company reported a total equity of ¥128,654,689.28, down from ¥129,693,553.12 at the beginning of the year, a decrease of approximately 0.8%[23] - Short-term borrowings increased to ¥172,432,863.27, a rise of 62.97% from ¥105,807,518.00 at the start of the year, reflecting increased financing needs[18] Cash Flow - Cash flow from operating activities showed a negative net amount of CNY -40,980,071.62, compared to CNY -2,771,672.36 in the previous year[6] - The cash flow from operating activities was negative at -¥40,980,071.61, primarily due to repayments of other payables[12] - Operating cash flow for Q1 2018 was -40,980,071.62 yuan, a decline from -2,771,672.36 yuan year-over-year, reflecting a significant increase in cash outflows[30] - The company generated 51,565,945.35 yuan in cash from sales in Q1 2018, a substantial increase from 4,278,433.35 yuan in the same quarter last year, representing a growth of over 1,100%[30] - Cash outflows from operating activities totaled 115,636,569.47 yuan in Q1 2018, compared to 7,381,823.01 yuan in the previous year, indicating a significant rise in operational expenses[30] - The company recorded cash inflows from financing activities of 98,636,135.27 yuan in Q1 2018, compared to 7,000,000.00 yuan in the same period last year, reflecting a strong increase in financing efforts[31] - The net cash flow from financing activities was ¥73,377,898.45, a substantial improvement from a negative cash flow of ¥10,446,276.00 in the previous year, indicating successful bank loan acquisitions[12] Shareholder Information - The number of shareholders totaled 10,836 at the end of the reporting period[9] - The top shareholder, Shenzhen Qianhai Paide Gao Investment Partnership, holds 12.43% of shares, totaling 25,164,647 shares[9] Inventory and Prepayments - Significant increases in inventory by 11,070.48% to CNY 9,269,892.78 due to the subsidiary's wine trade activities[11] - Prepayments rose dramatically by 27,649.88% to CNY 9,944,800.47, reflecting increased business activities[11] Operational Costs - The operating cost for Q1 2018 was ¥20,377,511.80, reflecting a dramatic rise of 18,443.99% from ¥109,887.41 in the same period last year, also attributed to the wine trading operations[12] - Total operating costs rose from ¥8,012,642.01 to ¥28,119,891.48, an increase of about 250.5%[24] Other Financial Metrics - The weighted average return on net assets improved to 1.87% from -5.98% year-on-year[6] - Earnings per share improved to ¥0.01 from a loss of ¥0.03 in the same period last year[25] - The company’s other comprehensive income showed a significant increase of 3,481.23%, reaching -¥43,699.59, mainly due to foreign currency translation differences[12] - The company has not indicated any significant changes in expected cumulative net profit for the year compared to the previous year[15] - The company resolved four historical debt and litigation issues during the reporting period, which may positively impact future financial stability[14]