ATLANTIC(SH:600558)2018-04-26 16:00Financial Performance - Operating revenue rose by 15.40% to CNY 555,741,679.75 year-on-year[6] - Net profit attributable to shareholders decreased by 44.05% to CNY 8,617,282.55 compared to the same period last year[6] - Basic earnings per share fell by 41.18% to CNY 0.010[6] - Total operating revenue for Q1 2018 reached ¥555,741,679.75, an increase of 15.4% compared to ¥481,597,491.03 in the same period last year[36] - Net profit attributable to shareholders of the parent company was ¥8,617,282.55, down 44.5% from ¥15,403,027.49 in Q1 2017[36] - The company reported a gross profit margin of approximately 2.9% for Q1 2018, down from 5.0% in Q1 2017[36] - The net profit for Q1 2018 was a loss of CNY 1,986,661.24, compared to a profit of CNY 9,326,026.17 in Q1 2017, representing a significant decline[40] - The total comprehensive income for Q1 2018 was CNY -1,986,661.24, down from CNY 9,326,026.17 in Q1 2017[40] - The company reported a decrease in investment income, with a loss of CNY 2,831,114.48 compared to a gain of CNY 558,387.60 in the previous year[40] - The company’s basic and diluted earnings per share for Q1 2018 were both CNY 0.010, down from CNY 0.017 in the previous year[40] Assets and Liabilities - Total assets increased by 4.45% to CNY 2,990,232,819.04 compared to the end of the previous year[6] - Total liabilities increased to ¥908,996,877.03 from ¥787,274,326.25 at the beginning of the year, reflecting a rise of 15.4%[29] - Inventory levels rose to ¥497,424,918.16, up 8.5% from ¥459,661,794.15 at the start of the year[28] - The total equity attributable to shareholders of the parent company was ¥1,887,988,775.20, slightly up from ¥1,879,519,168.42 at the beginning of the year[29] Cash Flow - Cash flow from operating activities improved by 57.38%, reaching a net outflow of CNY 35,897,567.71[6] - The operating cash flow for Q1 2018 was a net outflow of CNY 35,897,567.71, an improvement from a net outflow of CNY 84,220,369.35 in the previous year[43] - Cash and cash equivalents at the end of Q1 2018 were CNY 205,394,894.21, down from CNY 250,329,479.88 at the beginning of the period[43] - The company’s financing activities generated a net cash inflow of CNY 29,928,302.92, compared to CNY 36,501,929.38 in the same period last year[44] - The cash flow from investment activities showed a net outflow of CNY 38,909,995.26, compared to a net outflow of CNY 73,201,089.84 in the same period last year[43] Shareholder Actions - The controlling shareholder, Atlantic Group, plans to transfer 270,526,255 shares (approximately 30.14% of total shares) to Guizhou Development Mining Investment Co., Ltd. without compensation[18] - The transfer of shares has received approval from the Ministry of Commerce, allowing Guizhou Development to proceed without further review[19] - The company has completed the necessary procedures for the transfer of shares, pending the approval of bondholders from the parent company, which may introduce uncertainty[21] Costs and Expenses - Financial expenses rose by 48.14%, with an increase of CNY 1,250,000 attributed to higher interest expenses and exchange losses[15] - Tax and additional charges increased by 66.03%, amounting to an increase of CNY 1,570,000[15] - The company’s operating costs for Q1 2018 were ¥543,079,232.17, an increase of 18.3% compared to ¥459,180,540.07 in the previous year[36] - The total operating expenses increased to CNY 201,130,418.77 in Q1 2018, up from CNY 177,476,380.83 in Q1 2017[40] Investment Activities - Net cash flow from investment activities improved by CNY 3,429,000, resulting in a net outflow of CNY 38,910,000[16] - The company has signed a land use rights storage contract with the local government for 365.3257 acres of land at a price of 98.5898 million yuan, expected to increase net profit by approximately 7 million yuan[25] - Short-term borrowings increased to ¥346,504,010.71 from ¥308,405,823.50, indicating a rise of 12.3%[29]