JCET(SH:600584)2016-04-28 16:00Financial Performance - Operating revenue for the first quarter was CNY 3.51 billion, representing a significant increase of 118.55% year-on-year[6] - Net profit attributable to shareholders of the listed company was a loss of CNY 31.89 million, a decrease of 176.17% compared to the same period last year[6] - Cash flow from operating activities amounted to CNY 191.16 million, up 92.52% year-on-year[6] - Basic and diluted earnings per share were CNY 0.0272, down 48.58% from CNY 0.0529 in the same period last year[6] - The company reported a significant increase in financial metrics due to the consolidation of StarTech, with specific changes detailed in the financial statements[16] - The company's operating revenue reached 350,649.64 million, a significant increase of 118.55% compared to the same period last year[17] - The net profit for the period was -16,837.61 million, a substantial decline from a profit of 6,484.58 million in the previous year[17] - The net profit for Q1 2016 was CNY 105,904,180.86, compared to CNY 8,856,387.08 in the previous year, indicating a significant increase[37] - The total profit for Q1 2016 reached CNY 118,270,591.78, a substantial rise from CNY 8,952,015.59 in the same quarter last year[36] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 25.99 billion, an increase of 1.72% compared to the end of the previous year[6] - Non-current assets totaled CNY 19,381,243,291.56, up from CNY 18,749,474,868.77 at the beginning of the year, reflecting a growth of approximately 3.4%[26] - Total liabilities increased to CNY 19,330,211,998.21 from CNY 18,869,406,006.35, marking a rise of about 2.4%[27] - Current liabilities amounted to CNY 10,845,028,084.72, compared to CNY 10,311,501,897.73, which is an increase of approximately 5.2%[26] - The company's total assets reached CNY 25,998,769,096.64, up from CNY 25,558,550,123.59, indicating a growth of about 1.7%[27] Shareholder Information - The total number of shareholders at the end of the reporting period was 81,180[12] - The largest shareholder, Jiangsu Xinchao Technology Group, held 18.37% of the shares, with 51,344,811 shares under lock-up[12] - Major shareholders include Jiangsu New Tide Technology Group Co., Ltd. with 138,927,411 shares and Central Huijin Investment Ltd. with 31,363,300 shares[14] - The company has committed to a lock-up period of 36 months for shares acquired by New Tide Group, which holds 16.188% of Jiangsu Changjiang Electronics Technology Co., Ltd.[22] Cash Flow and Expenses - Cash flow from operating activities generated 19,115.77 million, up 92.52% from the previous year[18] - The cash and cash equivalents decreased by 47,806.59 million, indicating a significant cash outflow during the period[18] - Cash and cash equivalents decreased to ¥2,316,430,475.02 from ¥2,579,220,055.12, indicating a decline of about 10.2%[25] - Financial expenses surged to 22,123.15 million, marking an increase of 284.65% year-over-year[17] - The financial expenses for Q1 2016 were CNY 59,810,094.85, compared to CNY 51,928,576.65 in the previous year, reflecting a 15% increase[36] Investment and Acquisitions - The company completed the acquisition of 100% equity in Singapore's StarTech on October 12, 2015, significantly impacting financial metrics in the first quarter of 2016 due to the consolidation of StarTech's financial data[16] - The company is undergoing a major asset restructuring, with agreements signed to acquire assets through share issuance[20] - The company plans to expand its market presence through strategic acquisitions and partnerships[20] Operational Metrics - Operating costs rose to 311,128.31 million, reflecting a 150.08% increase year-over-year[17] - The company reported a total current assets of ¥6,617,525,805.08 as of March 31, 2016, down from ¥6,809,075,254.82 at the beginning of the year, representing a decrease of approximately 2.8%[25] - The inventory balance increased to CNY 593,139,244.52 from CNY 526,329,721.14, reflecting a growth of about 12.7%[30] - Cash outflow for purchasing goods and services was CNY 2,666,236,282.48, significantly higher than CNY 1,328,079,512.31 in the previous year, reflecting an increase of approximately 100.5%[41] Regulatory Compliance - The company is in compliance with the latest regulatory opinions from the China Securities Regulatory Commission regarding share lock-up commitments[22] - The report highlights that the company has not disclosed any related party transactions or agreements among major shareholders[14]