Shede Spirits (SH:600702)2016-04-25 16:00Financial Performance - Operating revenue for the period reached CNY 426,454,651.79, a 35.35% increase year-on-year[7] - Net profit attributable to shareholders surged by 178.57% to CNY 12,177,952.21 compared to the same period last year[7] - The net profit excluding non-recurring gains and losses increased by 204.22% to CNY 11,690,345.37 year-on-year[7] - Basic earnings per share increased by 177.69% to CNY 0.0361 per share[7] - Net profit surged by 178.57% to ¥12,177,952.21 from ¥4,371,524.26, attributed to increased sales growth[12] - The company reported a gross profit margin of approximately 9.8% for Q1 2016, compared to 1.5% in Q1 2015[26] Assets and Liabilities - Total assets increased by 1.55% to CNY 3,819,718,024.31 compared to the end of the previous year[7] - Total assets as of March 31, 2016, amounted to CNY 3,570,912,168.67, compared to CNY 3,526,952,566.99 at the beginning of the year[22] - Total liabilities as of March 31, 2016, were CNY 1,577,840,666.53, an increase from CNY 1,495,791,807.74 at the start of the year[23] - The company’s total equity as of March 31, 2016, was CNY 1,993,071,502.14, down from CNY 2,031,160,759.25 at the beginning of the year[23] Cash Flow - Net cash flow from operating activities decreased by 35.63% to CNY 60,842,873.56 compared to the previous year[7] - Cash flow from operating activities decreased by 35.63% to ¥60,842,873.56 from ¥94,515,020.68, mainly due to reduced cash received from sales[12] - The net cash flow from operating activities was ¥60,842,873.56, down 35.7% from ¥94,515,020.68 in Q1 2015[29] - Net cash flow from operating activities reached $64.63 million, a significant increase from $1.26 million year-over-year[33] - The total cash and cash equivalents at the end of the period increased to $309.28 million, up from $239.87 million year-over-year[33] Shareholder Information - The number of shareholders at the end of the reporting period was 33,494[10] - The largest shareholder, Sichuan Tuopai Shede Group Co., Ltd., holds 29.85% of the shares[10] Government Support - The company received government subsidies amounting to CNY 318,505.00 during the period[7] Strategic Changes - The company is undergoing a strategic restructuring with its controlling shareholder, which is currently under review by the State-owned Assets Supervision and Administration Commission[13] Operational Costs - Total operating costs for Q1 2016 were CNY 400,686,146.43, up 31.5% from CNY 304,620,259.62 in Q1 2015[25] - The company incurred sales expenses and management expenses totaling ¥40,076,980.05, reflecting an increase in operational costs compared to the previous year[27] Financial Ratios - The weighted average return on equity rose by 0.35 percentage points to 0.54%[7] - Financial expenses decreased by 56.30% to ¥4,924,506.96 from ¥11,269,527.23, mainly due to reduced discount interest[12] - Tax expenses rose by 79.87% to ¥17,943,036.22 from ¥9,975,732.92, driven by increased profit from sales growth[12] Inventory and Prepayments - Inventory decreased to CNY 1,930,615,056.27 from CNY 1,981,183,963.39, a decline of 2.6%[21] - Prepayments decreased by 34.87% to ¥213,406,627.11 from ¥327,658,153.56, primarily due to the settlement of customer advance payments[12]