HUAFANG COMPANY(SH:600448)2018-04-27 16:00Financial Performance - Operating income rose by 27.87% to CNY 754,374,248.70 year-on-year[5] - Net profit attributable to shareholders decreased by 19.26% to CNY 1,798,188.30 compared to the same period last year[5] - Total operating revenue for Q1 2018 was CNY 754,374,248.70, an increase of 27.9% compared to CNY 589,953,105.31 in the same period last year[25] - Total operating costs for Q1 2018 were CNY 751,946,084.00, up from CNY 587,786,148.07, reflecting a year-over-year increase of 28.0%[26] - Net profit for Q1 2018 was CNY 1,798,188.30, a decrease of 19.3% from CNY 2,227,000.41 in Q1 2017[26] - The total comprehensive income for the first quarter of 2018 was CNY 1,952,530.19, compared to CNY 4,421,050.73 in the previous period, indicating a significant decrease[29] Assets and Liabilities - Total assets increased by 0.99% to CNY 3,484,297,147.07 compared to the end of the previous year[5] - The company's total assets reached RMB 3,484,297,147.07, up from RMB 3,450,206,905.05 at the start of the year[18] - Total liabilities as of March 31, 2018, were RMB 2,033,274,067.58, compared to RMB 2,001,574,612.80 at the beginning of the year[18] - The company's total assets amounted to CNY 3,432,777,882.68, slightly down from CNY 3,472,778,149.76 at the end of the previous period[22] - Total liabilities decreased to CNY 1,953,478,369.04 from CNY 1,995,431,166.31, indicating a reduction of 2.1%[22] Cash Flow - Net cash flow from operating activities increased by 36.89% to CNY 12,615,704.65 year-on-year[5] - Cash inflows from operating activities amounted to CNY 821,928,023.82, an increase of approximately 19.8% from CNY 685,780,661.16 in the previous period[32] - The net cash flow from operating activities was CNY 12,615,704.65, up from CNY 9,215,987.79, reflecting a growth of 37.8%[32] - The net cash flow from investing activities was -CNY 15,304,766.61, an improvement from -CNY 33,863,618.88 in the previous period[35] - The net cash flow from financing activities was CNY 2,898,238.06, down from CNY 21,029,503.66, showing a decline of 86.2%[33] Shareholder Information - The number of shareholders reached 29,660 by the end of the reporting period[9] Investment and Projects - The company plans to use the net proceeds of CNY 594.35 million from a private placement for the intelligent R&D center project and a high-end fabric project in Vietnam[12] - The company has not utilized the raised funds for the Vietnam project as of March 31, 2018[12] - The company received a notice to stop the investment in the "Vietnam annual production of 50 million meters of high-end clothing fabric (dyeing and finishing) project" due to regulatory issues[13] - As of April 27, 2018, the company had pre-invested RMB 14.015 million in the textile industry chain intelligent R&D center project using self-raised funds[13] - The company plans to replace the pre-invested self-raised funds of RMB 14.015 million with the raised funds once they are available[13] Other Financial Metrics - The weighted average return on equity decreased by 0.14 percentage points to 0.12%[5] - The company's cash and cash equivalents decreased from RMB 967,261,812.17 at the beginning of the year to RMB 946,740,170.93 by the end of March 2018[16] - Accounts receivable increased to RMB 259,199,622.37 from RMB 218,104,039.71 at the beginning of the year, reflecting a growth of approximately 18.83%[16] - Inventory rose to RMB 824,355,948.54 from RMB 738,491,382.78, indicating an increase of about 11.6%[16] - The company's equity increased to CNY 1,479,299,513.64 from CNY 1,477,346,983.45, showing a slight growth of 0.1%[22] - Basic earnings per share for Q1 2018 were CNY 0.003, down from CNY 0.01 in the same period last year[27] - The company reported a comprehensive income total of CNY 2,390,787.24, compared to CNY 2,396,147.03 in Q1 2017, reflecting a marginal decrease[27] - The company's cash inflows from financing activities totaled CNY 721,791,822.71, slightly up from CNY 711,539,434.83, indicating a marginal increase of 0.2%[33]