BAOTI(SH:600456)2017-04-27 16:00Financial Performance - Operating revenue rose by 57.70% to CNY 558,735,039.66 from CNY 354,300,654.52 in the same period last year[5] - The company's operating revenue for the first quarter of 2017 reached ¥558.74 million, a 57.70% increase compared to ¥354.30 million in the same period of 2016, primarily due to significant revenue growth from its subsidiary Shanxi Baotai New Metal Development Co., Ltd.[13] - Total revenue for Q1 2017 was CNY 558,735,039.66, an increase of 57.8% compared to CNY 354,300,654.52 in the same period last year[33] - Total profit for the first quarter was a loss of ¥33.73 million, an improvement of 35.39% from a loss of ¥52.21 million in the previous year, driven by revenue growth and reduced losses.[14] - The company reported a total profit loss of CNY 39.32 million for Q1 2017, compared to a loss of CNY 32.51 million in the previous year, highlighting financial difficulties[37] Cash Flow - Cash flow from operating activities worsened, with a net cash outflow of CNY -207,357,352.74, a decline of 328.65% compared to the previous year[5] - The net cash flow from operating activities was -207,357,352.74 RMB, compared to -48,373,971.44 RMB in the previous period, indicating a significant decline[39] - Cash flow from operating activities for Q1 2017 was CNY 221.68 million, an increase from CNY 202.43 million in the previous year, showing improved cash generation[38] - The cash inflow from operating activities was 224,366,662.40 RMB, compared to 210,993,189.50 RMB in the previous period, showing a slight increase[39] - The total cash outflow from operating activities was 431,724,015.14 RMB, compared to 259,367,160.94 RMB in the previous period, indicating higher operational costs[39] Assets and Liabilities - Total assets increased by 3.01% to CNY 7,144,784,829.70 compared to the end of the previous year[5] - Non-current assets totaled CNY 2,848,653,674.64, a slight decrease from CNY 2,872,635,860.54 at the beginning of the year[26] - Current liabilities rose to CNY 2,065,833,219.00, up from CNY 1,898,944,619.98, indicating an increase of about 8.8%[26] - Total liabilities reached CNY 3,447,778,427.61, compared to CNY 3,202,095,345.81 at the start of the year, marking an increase of 7.7%[27] - The company's equity attributable to shareholders decreased to CNY 3,389,466,572.73 from CNY 3,425,559,223.96, a decline of 1.1%[27] Shareholder Information - The number of shareholders reached 32,803, with the largest shareholder, Baotai Group Co., Ltd., holding 56.04% of shares[8] Expenses - Operating costs increased by 62.05% to ¥492.10 million from ¥303.67 million, attributed to the rise in operating revenue.[13] - The company reported a decrease in sales expenses by 32.62% to ¥6.21 million, attributed to reduced employee compensation expenses.[14] - Management expenses decreased to CNY 53.27 million from CNY 58.29 million, indicating cost control efforts[36] - The company’s tax expenses increased significantly, with a reported tax expense of ¥1.55 million compared to a tax benefit of ¥1.86 million in the previous year, due to improved profitability of its subsidiaries.[14] Borrowings - Short-term borrowings rose by 22.03% to CNY 1,385,000,000.00, attributed to the repayment of due bank loans and new bank borrowings[11] - Long-term borrowings increased to CNY 250,000,000.00 from CNY 170,000,000.00, indicating a rise of 47.1%[31] - Total cash inflow from financing activities was 520,000,000.00 RMB, up from 190,000,000.00 RMB in the previous period, reflecting increased borrowing[42] Inventory and Receivables - Accounts receivable increased by 45.97% to CNY 1,009,262,309.69 due to increased customer sales debts[11] - Inventory levels increased to ¥2,126.69 million from ¥2,050.93 million, reflecting higher stock levels.[25] - Accounts receivable rose to CNY 839,591,717.74 from CNY 685,594,415.37, an increase of 22.5%[29] - Inventory increased to CNY 1,975,829,100.48 from CNY 1,941,809,601.23, reflecting a growth of 1.7%[30]