Qinghai Spring(SH:600381)2015-04-29 16:00Financial Performance - Operating revenue for the reporting period was CNY 336,703,973.65, representing a decline of 39.44% year-on-year[6] - Net profit attributable to shareholders was CNY 15,109,967.83, down 84.11% from the same period last year[6] - Basic earnings per share were CNY 0.0309, a decrease of 84.10% year-on-year[6] - The weighted average return on assets was 1.02%, down 83.71% from the previous year[6] - Total revenue for Q1 2015 was ¥336,703,973.65, a decrease of 39.4% from ¥555,961,231.50 in the same period last year[34] - Net profit for Q1 2015 was ¥15,139,732.54, a decline of 84.1% compared to ¥95,087,099.57 in Q1 2014[36] - Earnings per share for Q1 2015 was ¥0.0309, down from ¥0.1943 in the previous year[36] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,857,799,878.54, a decrease of 3.04% compared to the end of the previous year[6] - The company’s net assets attributable to shareholders decreased to CNY 1,411,842,353.03, a decline of 3.99% from the previous year[6] - The company's total assets saw a significant change due to the reverse acquisition, impacting various financial metrics[13] - The company's current assets totaled RMB 1,465.70 million, down from RMB 1,525.29 million at the beginning of the year[26] - The company's total liabilities were RMB 443.45 million, slightly up from RMB 443.12 million at the beginning of the year[28] - Total liabilities rose to ¥211,753,937.71 from ¥197,114,745.73, reflecting an increase in financial obligations[32] Cash Flow - The net cash flow from operating activities was CNY 91,449,282.38, an increase of 19.76% compared to the previous year[6] - Cash inflow from operating activities was 358,610,097.57 CNY, down from 677,925,268.29 CNY year-over-year, representing a decrease of approximately 47.1%[42] - Cash outflow from investing activities totaled 11,130,516.33 CNY, compared to 407,601,717.88 CNY in the previous period, indicating a significant reduction in investment spending[42] - The ending cash and cash equivalents balance was 283,437,812.76 CNY, down from 742,155,223.03 CNY in the previous year, reflecting a decrease of approximately 61.8%[43] Shareholder Information - The total number of shareholders at the end of the reporting period was 40,414[11] - The largest shareholder, Tibet Rong'en Technology Co., Ltd., held 50.04% of the shares[11] Investment and Restructuring - The company completed a major asset restructuring transaction with Qinghai Spring, approved by the China Securities Regulatory Commission on February 12, 2015[19] - The company completed the acquisition of 99.8034% of Qinghai Spring's shares from seven issuers, finalizing the major asset restructuring transaction[22] - The profit compensation agreement stipulates that Qinghai Spring's audited net profits for 2014, 2015, and 2016 must not be less than RMB 318.28 million, RMB 363.38 million, and RMB 397.54 million respectively[23] - If the restructuring is not completed by 2014, the profit compensation period will extend to 2017, with a required net profit of at least RMB 426.57 million for that year[24] Other Financial Metrics - The company reported non-recurring gains of CNY 57,500.00 from government subsidies related to normal business operations[8] - Accounts receivable increased by RMB 21,879,864.74 or 116.47%, primarily due to the reverse acquisition[14] - Short-term loans decreased by RMB 139,897,363.84 or 69.95%, mainly due to the repayment of previous loans[15] - The capital reserve decreased by RMB 272,669,789.09 or 67.27%, primarily due to the reverse acquisition[17] - The company received investment income of RMB 272,236.62, a decrease of RMB 4,766,119.55 or 94.60% compared to the previous year[19] - The company’s financial expenses decreased by RMB 4,399,282.56 or 67.32%, mainly due to reduced interest expenses from loan repayments[16]