NINGBO FUDA(SH:600724)2016-04-26 16:00Financial Performance - Operating revenue increased by 189.38% to CNY 1,596,059,015.78 from CNY 551,536,432.39 in the same period last year[8] - Net profit attributable to shareholders surged by 703.00% to CNY 226,329,616.59 from CNY 28,185,447.62 year-on-year[8] - Basic earnings per share rose by 582.40% to CNY 0.1590 compared to CNY 0.0233 in the previous year[8] - The company reported a significant increase in non-operating income, totaling CNY 3,494,060.29[10] - Operating profit for the first quarter was RMB 415,340,510.95, compared to RMB 37,778,999.19 in the previous year, indicating a substantial increase in profitability[34] - Net profit for the first quarter was RMB 300,488,775.08, up from RMB 35,586,802.58 year-over-year, reflecting a growth of approximately 743%[34] - The company reported an investment income of approximately $1.01 billion, attributed to the transfer of 51% equity in a subsidiary[15] Cash Flow - Cash flow from operating activities improved significantly, with a net cash flow of CNY -124,408,797.96, compared to CNY -291,208,586.44 in the same period last year[8] - The net cash flow from operating activities increased by approximately $166.80 million year-over-year, driven by higher cash receipts from sales[15] - The net cash flow from investing activities increased by approximately $215.23 million, primarily due to cash received from the disposal of subsidiaries[16] - The net cash flow from financing activities decreased by approximately $381.97 million, mainly due to a reduction in cash received from borrowings[16] - The company reported a net cash outflow from operating activities of RMB -124,408,797.96, an improvement from RMB -291,208,586.44 in the previous period[40] - The net cash inflow from financing activities for the current period is RMB 44,757,283.26, a significant decrease from RMB 426,732,110.28 in the previous period[40] - The company received RMB 2,066,000,000.00 in borrowings during the current period, compared to RMB 3,292,000,000.00 in the previous period, a decrease of about 37.2%[40] Assets and Liabilities - Total assets decreased by 4.67% to CNY 16,926,784,580.67 compared to the end of the previous year[8] - Current assets totaled RMB 14,316,711,282.29, down from RMB 15,217,825,796.06[22] - Total liabilities amounted to RMB 13,457,348,755.89, down from RMB 14,557,409,421.50[24] - Non-current liabilities increased to RMB 3,805,350,216.47 from RMB 2,992,729,138.98, an increase of about 27.1%[24] - The company's total assets decreased to RMB 7,574,887,399.50 from RMB 8,415,274,128.13, a decline of about 10%[30] - Total liabilities decreased to RMB 6,321,833,217.90 from RMB 7,284,708,712.03, representing a reduction of approximately 13%[30] Shareholder Information - The number of shareholders reached 41,014 at the end of the reporting period[11] - Shareholders' equity increased to RMB 3,469,435,824.78 from RMB 3,198,107,049.70, reflecting a growth of approximately 8.5%[24] Accounts Receivable and Payable - Accounts receivable increased by 246.58% to CNY 202,146,755.22 from CNY 58,325,916.52 year-on-year[14] - The company’s accounts receivable increased as a subsidiary extended payment terms to accelerate cement sales[15] - Accounts payable decreased to RMB 405,141,816.95 from RMB 648,522,511.11, a decline of about 37.5%[24] Investment Activities - The company completed a significant equity transfer agreement with Ningbo Vanke, resulting in a new ownership structure for a subsidiary[17] - The company has committed to providing loan support to Ningbo Cheng Investment Company, with a remaining loan balance of RMB 3,644,000,000.00[20] - The company reported a significant increase in other receivables, rising to RMB 832,537,001.49 from RMB 67,561,143.43[22]