SJA(600609)2017-05-09 16:00Financial Performance - Revenue for the period rose by 15.35% to CNY 1,248,651,380.48 compared to the same period last year[6] - Net profit attributable to shareholders decreased by 63.78% to CNY 26,179,869.20 compared to the end of the previous year[6] - Net profit for Q1 2017 decreased by 51.36% to CNY 10,378,928.55 compared to CNY 21,337,495.56 in Q1 2016[16] - The net profit attributable to the parent company was -¥53,418,554.67, compared to -¥9,965,417.99 in the previous year[26] - The net profit for Q1 2017 was ¥195,646,168.00, a significant turnaround from a net loss of ¥30,829,564.17 in the same period last year[29] - The total comprehensive income for Q1 2017 was ¥195,646,168.00, reflecting a recovery from a comprehensive loss of ¥30,829,564.17 in the same period last year[29] Asset and Liability Changes - Total assets increased by 8.76% to CNY 12,365,894,905.33 compared to the end of the previous year[6] - The total assets as of March 31, 2017, amounted to CNY 12,365,894,905.33, an increase from CNY 11,370,173,798.28 at the beginning of the year[19] - The company's current liabilities totaled CNY 8,448,937,377.32 as of March 31, 2017, slightly down from CNY 8,536,961,437.64 at the beginning of the year[20] - Total liabilities rose to ¥2,653,313,019.00, up 38.8% from ¥1,911,994,983.69 at the start of the year[23] Cash Flow and Financing Activities - Operating cash flow decreased slightly by 0.83% to CNY 6,804,748.55 compared to the same period last year[6] - The net cash flow from investment activities in Q1 2017 was CNY -133,323,522.83, a decrease of 167.77% from CNY -49,791,193.14 in the same period last year[16] - Cash flow from financing activities increased by 81.60% to CNY 170,248,568.59 in Q1 2017, up from CNY 93,747,039.45 in Q1 2016[16] - The company raised ¥2,600,000,000.00 through borrowings in Q1 2017, a substantial increase from ¥30,000,000.00 in the previous period[33] - The net cash flow from financing activities was ¥170,248,568.59, compared to ¥93,747,039.45 in the previous year, indicating improved financing conditions[33] Investment and Asset Impairment - The company experienced an 815.53% increase in asset impairment losses due to provisions for bad debts and inventory write-downs[14] - The company reported a significant increase in asset impairment losses of 815.53% to CNY 11,866,624.59 in Q1 2017 compared to CNY 1,296,145.36 in Q1 2016[16] - The company incurred financial expenses of ¥25,738,892.06, which increased from ¥18,933,601.36 in the previous period[29] Strategic Initiatives - The company plans to enhance product quality and strengthen market marketing to achieve stable profit growth in 2017[18] - The company aims to improve its component business by enhancing R&D capabilities and increasing market share[18] - The company is undergoing a major asset restructuring and has suspended trading of its shares since March 20, 2017[17] Other Financial Metrics - The weighted average return on net assets was -117.22%, a significant decline from -3.86% in the previous year[6] - Basic and diluted earnings per share for Q1 2017 were both -¥0.049, compared to -¥0.009 in Q1 2016[27] - Other comprehensive income after tax for Q1 2017 was ¥7,278,947.90, down from ¥10,568,708.06 in the same period last year[27] - Total operating costs for Q1 2017 were ¥1,223,467,500.92, up 16.3% from ¥1,052,412,473.36 in Q1 2016[26] - Total operating revenue for Q1 2017 reached ¥1,248,651,380.48, an increase of 15.4% compared to ¥1,082,465,620.64 in the same period last year[26] - Cash and cash equivalents at the end of the period totaled ¥2,637,222,499.57, up from ¥1,928,753,153.63 at the end of the previous period[33]