KINGFA(SH:600143)2017-04-24 16:00Financial Performance - Operating revenue rose by 44.50% to CNY 5,389,034,426 from CNY 3,729,371,277 in the same period last year[7]. - Net profit attributable to shareholders decreased by 48.92% to CNY 127,120,019 from CNY 248,858,652 in the previous year[7]. - Basic and diluted earnings per share fell by 51.85% to CNY 0.0468 from CNY 0.0972 in the same period last year[7]. - The weighted average return on equity decreased by 1.63 percentage points to 1.31%[7]. - The company reported a significant increase in total assets and operating revenue, indicating potential for future growth despite the decline in net profit[7]. - Total operating revenue for Q1 2017 was CNY 5,389,034,426.16, an increase of 44.5% compared to CNY 3,729,371,277.48 in the same period last year[35]. - Net profit for Q1 2017 was CNY 127,554,838.22, a decrease of 48.9% from CNY 249,841,377.74 in Q1 2016[36]. - The total comprehensive income for Q1 2017 was CNY 131,826,612.66, compared to CNY 248,951,447.98 in Q1 2016, indicating a significant decrease[37]. Cash Flow - Cash flow from operating activities showed a significant decline of 522.99%, resulting in a negative cash flow of CNY -1,144,734,983[7]. - The company's cash flow from operating activities showed a positive trend, contributing to its overall financial stability despite the decline in net profit[36]. - Net cash flow from operating activities was -CNY 1,144,734,983.20, compared to a positive CNY 270,626,912.95 in Q1 2016[43]. - Cash flow from investing activities showed a net outflow of -CNY 76,507,459.27, improving from -CNY 849,916,282.50 in the previous year[44]. - Cash flow from financing activities generated a net inflow of CNY 2,287,678,608.35, up from CNY 814,997,092.62 in Q1 2016[44]. Assets and Liabilities - Total assets increased by 12.83% to CNY 22,857,506,897 compared to the end of the previous year[7]. - The company's current assets totaled ¥13,793,149,701.33, up from ¥11,206,933,110.64, indicating a year-to-date increase of about 23.1%[25]. - The company's total liabilities reached ¥12,999,545,487.40, compared to ¥10,533,501,951.46 at the beginning of the year, marking an increase of about 23.4%[27]. - The total equity attributable to shareholders increased to ¥9,782,872,013.09 from ¥9,650,983,592.52, showing a growth of about 1.4%[27]. - The company's total liabilities as of Q1 2017 amounted to CNY 8,913,916,128.57, compared to CNY 7,042,739,011.23 in the previous year, reflecting a 26.6% increase[32]. - The company's total liabilities and equity amounted to CNY 16,635,545,335.38 as of Q1 2017, compared to CNY 14,691,939,676.03 in the previous year[32]. Shareholder Information - The total number of shareholders reached 98,461 by the end of the reporting period[10]. - The largest shareholder, Yuan Zhimin, holds 18.79% of the shares, with a total of 510,380,393 shares[10]. Operational Insights - Operating costs rose to ¥4,684,439,608.38, reflecting a 55.17% increase from ¥3,018,848,083.89, primarily due to higher procurement costs[16]. - The company has seen a notable increase in accounts receivable and inventory due to higher sales orders and procurement for production[19]. - The company has increased its research and development expenditures, reflected in a 37.67% rise in management expenses to ¥369,755,606.77 from ¥268,583,814.66[16]. - The company reported an operating profit of CNY 95,312,519.75 for Q1 2017, a decline of 65.5% from CNY 275,904,214.69 in the previous year[35]. Asset Restructuring - The company is in the process of a significant asset restructuring, with stock trading suspended since January 9, 2017, to facilitate the transaction[20]. - The company plans to continue the suspension of stock trading for further asset restructuring, with an expected duration of no more than one month from March 9, 2017[21].