TMSP(SH:600671)2017-04-28 16:00Financial Performance - Operating revenue for the period was CNY 23,720,706.06, a decline of 5.27% year-on-year[6] - Net profit attributable to shareholders was a loss of CNY 3,668,755.56, improving from a loss of CNY 6,472,362.04 in the same period last year[6] - Basic and diluted earnings per share were both -CNY 0.0254, an improvement from -CNY 0.0406 in the same period last year[6] - Total operating revenue for Q1 2017 was CNY 23,720,706.06, a decrease of 5.3% from CNY 25,040,726.07 in the previous year[30] - Net loss for Q1 2017 was CNY 3,181,890.79, compared to a net loss of CNY 4,852,194.32 in the same period last year, representing a 34.4% improvement[31] - The net profit for Q1 2017 was -2,796,398.07 RMB, an improvement from -5,155,675.24 RMB in the same period last year, indicating a reduction in losses[35] - The basic and diluted earnings per share for Q1 2017 were 0.0230 RMB, compared to -0.0423 RMB in the same period last year, indicating a positive shift in earnings per share[35] Cash Flow and Liquidity - Cash flow from operating activities showed a net outflow of CNY 10,103,981.15, compared to an outflow of CNY 1,015,044.11 in the previous year[6] - The company reported a net cash outflow from operating activities of ¥10,103,981.15, a significant increase of 895.42% compared to the previous period[14] - The company’s liquidity ratio was reported at 0.57, raising concerns about its ability to continue operations[16] - Total operating cash inflow for Q1 2017 was 21,294,723.23 RMB, down from 22,827,294.71 RMB year-over-year, reflecting a decrease of approximately 6.7%[38] - The net cash flow from operating activities was -10,103,981.15 RMB, worsening from -1,015,044.11 RMB in the previous year, showing a significant increase in cash outflow[38] - Cash and cash equivalents at the end of Q1 2017 were 2,530,083.40 RMB, a decrease from 16,787,257.48 RMB at the end of the previous year, representing a decline of about 85%[39] Assets and Liabilities - Total assets decreased by 7.20% to CNY 284,139,385.17 compared to the end of the previous year[6] - The company's total assets decreased to CNY 210,452,477.94 from CNY 218,038,419.82, a decline of 3.9%[28] - The company's total liabilities as of March 31, 2017, were CNY 221,137,949.38, down from CNY 240,009,691.00 at the start of the year[24] - Total liabilities decreased to CNY 176,752,598.51, down 2.2% from CNY 181,542,142.32[28] - The company's equity decreased to CNY 33,699,879.43 from CNY 36,496,277.50, a decline of 7.6%[28] Shareholder Information - The total number of shareholders at the end of the reporting period was 10,136[10] - The largest shareholder, Changcheng Film and Television Culture Group, held 24.63% of shares[10] Operational Challenges and Developments - The company has not disclosed any new product developments or market expansion strategies in this report[6] - The company is undergoing GMP certification renovations, which are critical for resuming normal production of its products[16] - The company is currently undergoing GMP certification for its tablet, granule, and pill production lines, with plans to complete this by mid-July 2017[18] - The eye drop GMP production line is undergoing renovation, with expected certification completion in August 2017, but there is uncertainty regarding the timeline[19] - The company is taking active measures to address its operational challenges and expedite the GMP certification process[18] Government Support and Expenses - The company received government subsidies of CNY 60,000 related to normal business operations[8] - Non-recurring gains and losses totaled CNY 574,973.86 for the period[8] - Development expenses increased by 142.72% to ¥235,598.12 due to a joint research project with Zhejiang University[12] - The company received a special fund of ¥1,500,000.00 for research and development of a new process for a product[14] - The company’s management expenses decreased by 20.49% to ¥7,640,948.84, primarily due to reduced compensation and downtime costs[14] Inventory and Costs - Operating costs decreased by 14.99% to ¥14,055,121.04, attributed to lower sales revenue[14] - The company's inventory increased slightly from CNY 44,590,024.57 at the beginning of the year to CNY 45,206,641.50 by the end of March 2017[22]