CRE(SH:600217)2018-04-26 16:00Financial Performance - Operating revenue increased by 34.71% to CNY 457,366,248.98 year-on-year[6] - Net profit attributable to shareholders rose by 53.06% to CNY 58,654,497.69 compared to the same period last year[6] - Basic and diluted earnings per share increased by 47.55% to CNY 0.0422[8] - The company anticipates a significant increase in net profit compared to the same period last year, with no major changes expected in the upcoming reporting period[19] - Net profit for Q1 2018 reached CNY 59,599,871.03, representing a 53.5% increase from CNY 38,830,541.08 in Q1 2017[32] Cash Flow - Net cash flow from operating activities improved significantly, with a net inflow of CNY 500,829,979.23, a turnaround from a net outflow of CNY 248,137,395.32 in the previous year[6] - Cash flow from sales of goods and services skyrocketed by 535.26% to ¥886,923,260.37 from ¥139,616,150.71, due to subsidies received for waste electrical and electronic product processing[17] - Cash received from tax refunds surged by 7018.41% to ¥14,189,933.67 from ¥199,341.43, indicating a significant tax refund[17] - Operating cash inflow for Q1 2018 was CNY 912,199,444.36, a substantial increase from CNY 146,323,981.06 in the previous period[38] - The net cash flow from operating activities was CNY 500,829,979.23, a significant recovery from a negative cash flow of CNY -248,137,395.32 in the same period last year[38] Assets and Liabilities - Total assets decreased by 4.44% to CNY 4,610,183,059.09 compared to the end of the previous year[6] - Current assets totaled CNY 1,474,776,702.74, down from CNY 1,722,822,203.38 at the start of the year, indicating a reduction of 14.4%[27] - Total liabilities amounted to CNY 1,903,224,804.84, a decrease of 4.2% from CNY 1,987,388,259.28 at the beginning of the year[29] - The company's equity attributable to shareholders was CNY 2,161,463,938.42, down from CNY 2,185,478,040.24 at the start of the year[29] - Cash and cash equivalents at the end of the period increased by 32.57% to ¥765,412,112.98 from ¥577,384,991.15[23] Operating Costs - Operating costs rose by 81.87% to ¥247,486,738.60 from ¥136,077,430.52, mainly driven by increased procurement costs[17] - Tax and additional charges surged by 125.11% to ¥6,034,883.32 from ¥2,680,878.66, attributed to an increase in turnover tax[17] - Sales expenses increased by 163.29% to ¥3,996,853.54 from ¥1,518,030.68, reflecting heightened sales activities[17] - The company incurred total operating costs of CNY 2,953,874.40, which includes sales expenses of CNY 281,006.10 and management expenses of CNY 7,564,308.53[34] Shareholder Information - The total number of shareholders reached 36,658 at the end of the reporting period[11] - The largest shareholder, China Recycled Resources Development Co., Ltd., holds 25.84% of the shares, with 358,891,083 shares pledged[11] Other Financial Metrics - The weighted average return on equity decreased by 0.21 percentage points to 3.43%[6] - The company reported a total of CNY 1,537,855.58 in non-recurring gains and losses for the period[9] - The company reported a significant reduction in asset impairment losses, which decreased to CNY 66,961,700.99 from CNY 120,999,234.24 year-over-year[32] - The company's total comprehensive income for Q1 2018 was CNY -24,014,101.82, which is a decline from CNY -8,406,735.19 in the same period last year[36] Strategic Developments - The company is planning a major asset restructuring involving the acquisition of equity in Zhongzai Environmental Services Co., Ltd., which has led to a temporary suspension of its stock trading[18] - The company has not disclosed any new product developments or market expansion strategies in this report[16]