HCSC(SH:600378)2016-04-20 16:00Financial Performance - Operating revenue fell by 47.75% to CNY 70,664,853.28 from CNY 135,248,734.53 year-on-year[6] - Net profit attributable to shareholders decreased by 96.40% to CNY 472,796.02 compared to CNY 13,135,026.10 in the same period last year[6] - Basic earnings per share dropped by 93.18% to CNY 0.003 from CNY 0.044 year-on-year[6] - Revenue decreased by 47.75% to ¥70,664,853.28 primarily due to a reduction in engineering project income[13] - Net profit fell by 94.00% to ¥810,088.19, attributed to the decline in revenue[14] - Total profit decreased by 93.45% to ¥1,036,989.67, mainly due to the drop in income[14] - Total operating revenue for Q1 2016 was ¥70,664,853.28, a decrease of 46.5% compared to ¥132,090,734.54 in the same period last year[28] - Net profit for Q1 2016 was ¥1,285,775.06, down 90.8% from ¥14,029,535.05 in Q1 2015[29] - Operating profit for Q1 2016 was ¥899,482.21, a significant decrease from ¥16,039,265.37 in the same quarter last year[28] - The company reported a total comprehensive income of ¥1,285,775.06 for Q1 2016, down 90.8% from ¥14,029,535.05 in Q1 2015[29] Asset and Liability Changes - Total assets decreased by 2.98% to CNY 963,633,011.63 compared to the end of the previous year[6] - The total assets decreased from ¥993,195,285.30 to ¥963,633,011.63, indicating a decline in overall asset value[20] - Total liabilities decreased from ¥242,290,179.21 to ¥211,660,033.32, showing a reduction in the company's obligations[19] - The company's total assets decreased to CNY 942,435,806.57 from CNY 971,984,165.19 at the beginning of the year, reflecting a reduction of 3.0%[24] - Current assets totaled CNY 621,257,079.13, down 4.1% from CNY 647,644,104.17 at the start of the year[23] - Current liabilities decreased to CNY 210,613,899.88, a reduction of 12.8% from CNY 241,409,594.45 at the beginning of the year[24] - The company's total equity increased slightly to CNY 730,803,130.88 from CNY 729,259,571.79, reflecting a growth of 0.2%[24] Cash Flow and Expenses - Cash flow from operating activities improved by 32.44%, with a net cash flow of CNY -40,838,477.47 compared to CNY -60,446,860.20 in the previous year[6] - Operating cash flow improved by 32.44% to -¥40,838,477.47, reflecting reduced cash payments for operating activities[14] - Cash flow from operating activities for Q1 2016 was negative at -¥40,838,477.47, an improvement from -¥60,446,860.20 in Q1 2015[31] - Financial expenses decreased by 56.80% to -¥216,401.09, primarily due to reduced bank deposit interest[13] - Management expenses decreased by 33.20% to ¥9,795,255.16, mainly due to lower employee compensation and R&D expenses[13] - Sales expenses for Q1 2016 were ¥3,104,384.46, down 26.9% from ¥4,245,987.76 in Q1 2015[28] - Management expenses for Q1 2016 were ¥9,508,781.51, a decrease of 34.5% compared to ¥14,437,236.04 in the previous year[28] Shareholder Information - The number of shareholders reached 19,094 at the end of the reporting period[11] - The largest shareholder, China Haohua Chemical Group Co., Ltd., holds 23.82% of the shares[11] - The second-largest shareholder, Yingtou Holdings Co., Ltd., holds 23.72% of the shares, with 45,800,000 shares pledged[11] Other Financial Metrics - Non-recurring gains and losses totaled CNY 518,053.18 for the reporting period[8] - The weighted average return on net assets decreased by 1.69 percentage points to 0.13%[6] - Asset impairment losses decreased by 56.18% to ¥731,858.43, reflecting a reduction in bad debt provisions[13] - Total operating costs for Q1 2016 were CNY 70,235,957.94, down 41.1% from CNY 119,306,229.05 year-over-year[26] - Cash and cash equivalents decreased by approximately $42 million in Q1 2016, compared to a decrease of about $59.66 million in the same period last year[35] - The ending balance of cash and cash equivalents was approximately $365 million, slightly up from $362.58 million year-over-year[35] - The impact of exchange rate changes on cash and cash equivalents was a negative $372.03 thousand[35]