Adisseo(SH:600299)2018-04-24 16:00Financial Performance - The company achieved operating revenue of RMB 3.01 billion, a year-on-year increase of 22%, driven by double-digit sales growth in liquid methionine and effective management of vitamin business amid supply shortages[5]. - The net profit attributable to shareholders increased by 11% to RMB 351.81 million, compared to RMB 316.55 million in the same period last year[5]. - The gross profit margin reached 41%, despite challenges from unfavorable foreign exchange impacts and rising raw material costs[7]. - Basic and diluted earnings per share rose by 8% to RMB 0.13[5]. - Total operating revenue for Q1 2018 was CNY 3,013,914,234, an increase of 21.9% compared to CNY 2,469,115,491 in the same period last year[23]. - Net profit for Q1 2018 reached CNY 446,987,241, representing a 10.8% increase from CNY 403,499,065 in Q1 2017[24]. - Earnings per share for Q1 2018 were CNY 0.13, compared to CNY 0.12 in the same quarter last year[25]. Cash Flow and Investments - The company reported a net cash outflow from operating activities of RMB 22.46 million, primarily due to increased working capital expenditures for factory maintenance[7]. - Net cash flow from operating activities decreased by 104% to (RMB 22,464,050) due to increased working capital expenditures[13]. - Net cash flow from investing activities fell by 482% to (RMB 1,470,969,267) due to cash acquisition of Nutriad's equity[13]. - The company reported a cash outflow from investing activities of (1,470,969,267) RMB in Q1 2018, compared to (252,779,106) RMB in the same period last year[30]. - The cash flow from financing activities showed a net outflow of (597,538,923) RMB in Q1 2018, contrasting with a net inflow of 13,439,589 RMB in Q1 2017[30]. Assets and Liabilities - The total assets at the end of the reporting period were RMB 21.56 billion, a 1% increase from the previous year[5]. - The net assets attributable to shareholders increased by 2% to RMB 13.43 billion[5]. - Total assets as of March 31, 2018, amounted to CNY 10,629,765,855, slightly up from CNY 10,620,896,670 at the beginning of the year[21]. - Total liabilities as of March 31, 2018, were CNY 35,215,851, an increase from CNY 34,849,087 at the start of the year[21]. - The company's total equity as of March 31, 2018, was CNY 10,594,550,004, compared to CNY 10,586,047,583 at the beginning of the year[21]. Acquisitions and Related Changes - Accounts receivable increased by 32% to RMB 1,843,953,989 due to the acquisition of Nutriad[12]. - Inventory rose by 34% to RMB 2,151,877,182, influenced by the acquisition of Nutriad and the increase in vitamin A prices[12]. - Goodwill surged by 131% to RMB 2,012,994,697 as a result of the Nutriad acquisition[12]. - Operating expenses increased by 63% to RMB 296,984,275, driven by the acquisition of Nutriad and higher R&D costs[13]. - Long-term receivables increased by 89% to RMB 63,905,695, attributed to the acquisition of Nutriad[12]. - Prepayments increased by 44% to RMB 533,904,066 due to higher corporate income tax prepayments[12]. Other Financial Metrics - The weighted average return on equity increased by 7 basis points to 2.65%[5]. - Government subsidies recognized in the current period amounted to RMB 10.15 million, primarily related to land use rights refunds for the Nanjing plant[9]. - Other comprehensive income dropped by 193% to (RMB 78,217,290) impacted by the exchange rate of Euro to RMB[13]. - Financial expenses turned negative at (RMB 1,069,536), a decrease of 110% compared to the previous year, due to increased interest income from bank deposits[13]. - The company reported a comprehensive income total of CNY 368,769,951 for Q1 2018, down from CNY 487,904,063 in Q1 2017[25]. - The company’s deferred income tax liabilities were CNY 661,377,228, a decrease from CNY 673,175,847 at the beginning of the year[20]. Cash Management - The company’s cash and cash equivalents at the end of Q1 2018 were CNY 2,256,029,075, slightly up from CNY 2,241,610,694 at the beginning of the year[19]. - The total cash and cash equivalents at the end of Q1 2018 were 5,567,196,846 RMB, down from 7,061,472,873 RMB at the end of Q1 2017[30]. - The net cash increase in cash and cash equivalents for Q1 2018 was 14,418,381, compared to 12,850,819 in the same period last year, indicating a year-over-year growth[33]. - The ending balance of cash and cash equivalents as of Q1 2018 was 2,256,029,075, up from 2,201,429,173 in the previous year[33]. - The net cash flow from investing activities was (8,750), reflecting cash outflows for the acquisition of fixed assets and other long-term assets[33]. - The impact of exchange rate changes on cash and cash equivalents was a positive 47[33].