SCGS(SH:600678)2018-04-27 16:00Financial Performance - Operating revenue surged by 111.02% to CNY 50,246,599.14 compared to the same period last year[6] - Net profit attributable to shareholders was CNY 5,697,535.81, a significant recovery from a loss of CNY 8,476,344.18 in the previous year[6] - Basic earnings per share improved to CNY 0.0163 from a loss of CNY 0.0243 in the same period last year[6] - The net profit for the first quarter was 5,632,741.02, a significant turnaround from a net loss of 8,478,973.12 in the previous year, marking an increase of 166.43%[17] - The gross profit margin for Q1 2018 improved to 27.0%, compared to a negative margin in the same period last year[33] Assets and Liabilities - Total assets increased by 0.89% to CNY 440,575,259.71 compared to the end of the previous year[6] - The company's current assets decreased to CNY 71,378,089.92 from CNY 91,389,782.85, representing a decline of approximately 22%[27] - The total liabilities of the company were CNY 404,986,779.93, down from CNY 407,555,389.05, indicating a reduction of about 0.5%[29] - The total non-current assets increased to CNY 369,197,169.79 from CNY 345,290,787.79, marking an increase of about 7%[28] Cash Flow - Cash flow from operating activities showed a negative net amount of CNY -20,516,407.00, worsening from CNY -3,478,925.07 in the previous year[6] - The net cash flow from operating activities was -30,009,048.40 RMB, compared to -3,570,557.05 RMB in the previous period, indicating a significant decline in cash generation[45] - Total cash inflow from operating activities was 23,506,426.61 RMB, while cash outflow was 53,515,475.01 RMB, resulting in a net cash outflow of 30,009,048.40 RMB[45] - The total cash and cash equivalents at the end of the period were 8,425,607.58 RMB, down from 30,856,155.02 RMB at the beginning of the period, reflecting a decrease of 22,430,547.44 RMB[46] Investments - The company made a cash investment of CNY 10,000,000.00 to acquire a 10.83% stake in Shenzhen Haiying Technology Co., Ltd.[14] - Investment activities resulted in a net cash outflow of -17,245,027.04 RMB, indicating increased investment expenditures compared to the previous period[46] - The company made capital expenditures of 14,823,528.00 RMB during the investment activities, reflecting ongoing investment in assets[46] Tax and Expenses - The company reported a significant increase in tax expenses, totaling 10,364,445.30, which is a 409.17% rise due to increased sales and the introduction of an environmental tax[18] - The company reported a decrease in financial expenses to CNY 39,581.00 from CNY 4,233,757.87 in the previous year, indicating improved cost management[34] Shareholder Equity - Net assets attributable to shareholders increased by 23.25% to CNY 34,611,269.70 compared to the end of the previous year[6] - The total equity attributable to shareholders increased to CNY 34,611,269.70 from CNY 28,083,176.72, reflecting a growth of approximately 23%[29] - The total equity increased to CNY 38,387,982.40, up from CNY 32,166,337.54 in the previous year[32] Future Outlook - The company anticipates a turnaround in net profit for the year, projecting profitability compared to the previous year's losses due to improved production and sales data[23] - The company plans to continue expanding its market presence and investing in new product development to drive future growth[33]