CSF(SH:600654)2018-04-27 16:00Financial Performance - Revenue increased by 144.26% year-on-year, reaching approximately RMB 1.53 billion, mainly due to gains from the disposal of investment properties[6] - Net profit attributable to shareholders decreased by 69.03%, amounting to a loss of approximately RMB 57.67 million, primarily due to increased exchange losses and minimal fluctuations in the fair value of investment properties[9] - The weighted average return on net assets decreased by 1.53 percentage points, reflecting the decline in net profit[9] - The company reported a total net profit of 3.7836 million yuan for Shenzhen Keso, achieving only 28.86% of the promised performance from 2015 to 2017, with a cash compensation of 33.1778 million yuan still required[36] - Shenzhen Weida's net profit for the same period was 69.3924 million yuan, reaching 85.21% of the promised performance, with a remaining cash compensation of 30.0998 million yuan[37] - The company reported a net loss of CNY 358,195,702.48, compared to a loss of CNY 300,526,282.92 in the previous year, indicating a worsening of approximately 19.2%[43] Cash Flow and Liquidity - The company's operating cash flow decreased by 103.12% compared to the same period last year, primarily due to reduced operating receipts and increased cash payments to employees[6] - Cash and cash equivalents decreased by 51.77%, totaling approximately RMB 652.33 million, mainly due to loan repayments[14] - The company's cash flow from operating activities showed a net decrease of CNY 148,967,333.09 compared to a net decrease of CNY 90,000,006.44 in the previous period[60] - The ending cash and cash equivalents balance was CNY 367,623,730.09, a decrease from CNY 1,472,838,295.71 in the previous period[58] - Operating cash inflow totaled CNY 967,133,110.64, a decrease of 13.5% compared to CNY 1,118,238,882.50 in the previous period[57] - Operating cash outflow amounted to CNY 967,378,424.80, down from CNY 1,110,378,728.06, resulting in a net cash flow from operating activities of CNY -245,314.16[57] Assets and Liabilities - Total assets decreased by 15.84% from the end of the previous year, totaling approximately RMB 7.79 billion[7] - The net assets attributable to shareholders decreased by 3.15%, amounting to approximately RMB 2.10 billion[7] - The company has a total of 4.0728 billion yuan in current assets as of March 31, 2018, down from 4.6285 billion yuan at the beginning of the year, indicating a decrease of approximately 11.97%[41] - Non-current assets totaled CNY 3,712,436,261.89, down from CNY 4,621,858,400.09, reflecting a decrease of approximately 19.6%[42] - Total liabilities decreased to CNY 5,685,081,450.21 from CNY 7,081,908,511.16, a reduction of about 19.7%[43] Shareholder Information - The company had a total of 100,600 shareholders at the end of the reporting period[12] - The largest shareholder, Shenzhen Zhongheng Huizhi Investment Co., Ltd., held 41.15% of the shares, totaling approximately 527.98 million shares[12] Investment Activities - The company reported a net cash inflow from the disposal of fixed assets and other long-term assets amounting to ¥509,219,836.30, a substantial increase compared to ¥382,558.69 in the previous year[16] - The company’s cash received from investment activities increased significantly by 318.88%, from ¥42,900,000.00 to ¥179,700,000.00, due to the disposal of investment financial products[16] - Investment cash inflow reached CNY 699,726,636.02, significantly higher than CNY 43,282,558.69 in the previous period[57] Borrowings and Debt - The company reduced short-term borrowings by 32.94%, from ¥2,372,405,484.97 to ¥1,590,823,110.14, due to repayment activities[15] - The company’s long-term borrowings decreased by 40.79%, from ¥721,035,257.09 to ¥426,943,962.34, also due to repayment activities[15] - The company’s long-term borrowings were reported at CNY 426,943,962.34, down from CNY 721,035,257.09, reflecting a decrease of approximately 40.8%[42] Commitments and Guarantees - The company guarantees that the net profit of Wei'an Limited Company for the years 2015-2017 will not be less than HKD 339.756 million[28] - The cumulative net profit of Macau Wei'an for the years 2015-2017 is not less than 56.44 million MOP, based on the lower of net profit before and after deducting non-recurring gains and losses[29] - The company has committed to ensure that the debt principal of 25 million CNY and corresponding interest of 8 million CNY owed to Jinyu Aladdin is realized within one year from the date of the commitment[30] Operational Changes - The company established a subsidiary, Zhong'an Xian (Suzhou) Technology Co., Ltd., with an investment of RMB 90 million, holding 100% equity[26] - The company sold 35% equity of its subsidiary, Zhong'an Xian (Shanghai) Investment Management Co., Ltd., in Shanghai Lingxiao Enterprise Development Co., Ltd.[26] - The company plans to integrate Shanghai Weian and Beijing Wanjia into its listed company system by June 30, 2019, to eliminate potential competition[34]