SG(SH:600734)2018-04-27 16:00Financial Performance - Operating revenue decreased by 13.89% to CNY 1,132,669,560.64 compared to the same period last year[7] - Net profit attributable to shareholders decreased by 1,950.33% to a loss of CNY 30,583,529.65 compared to the same period last year[7] - The total comprehensive income for Q1 2018 was -31,290,135.32 RMB, compared to 1,029,920.13 RMB in the previous period[29] - Net profit for Q1 2018 was a loss of CNY 30,583,529.65, compared to a profit of CNY 1,145,353.35 in Q1 2017[28] - The net profit for Q1 2018 was -15,800,551.88 RMB, compared to -2,298,542.90 RMB in the previous year, indicating a significant increase in losses[30] Cash Flow - Net cash flow from operating activities showed a significant decline of 2,634.86% to a negative CNY 527,874,602.48 compared to the same period last year[7] - The net cash flow from operating activities was CNY -527,874,602.48, indicating a decrease of 2,634.86% compared to the previous period, primarily due to reduced cash inflows during construction phases[13] - The cash and cash equivalents at the end of Q1 2018 were 305,435,183.34 RMB, down from 513,662,144.89 RMB at the end of the previous year[32] - The total operating cash outflow for Q1 2018 was 2,020,071,021.66 RMB, compared to 2,299,553,303.81 RMB in the previous year[32] - The company incurred financial expenses of 8,401,757.86 RMB in Q1 2018, a significant increase from -3,015,128.88 RMB in the previous period[29] Assets and Liabilities - Total assets increased by 2.17% to CNY 8,403,661,086.47 compared to the end of the previous year[7] - The total liabilities as of March 31, 2018, were CNY 5,423,765,462.39, reflecting an increase from CNY 4,668,783,738.62 at the beginning of the year[20] - The total equity attributable to shareholders of the parent company was CNY 2,581,337,276.34, down from CNY 2,597,137,828.22 at the beginning of the year[25] - The total assets as of March 31, 2018, amounted to CNY 3,779,881,084.53, an increase from CNY 3,655,774,131.90 at the beginning of the year[24] - The total liabilities as of March 31, 2018, were CNY 1,198,543,808.19, up from CNY 1,058,636,303.68 at the start of the year[25] Operational Changes - The company reported a significant increase in government subsidies amounting to CNY 5,449,309.98 related to normal business operations[7] - The company reported a significant increase in prepayments, which rose to CNY 750,032,696.76 from CNY 313,949,850.43, indicating a strategic shift in material cost management[19] - The company plans to acquire a controlling stake in Ren Tian Technology through its subsidiary, with a capital raise of up to CNY 1.5 billion to support this acquisition[15] - The company is currently in the process of responding to an inquiry from the Shanghai Stock Exchange regarding its major asset purchase and related transactions[14] Investment Activities - The net cash flow from investing activities was CNY -35,272,499.31, a decrease of 86.60% year-on-year, attributed to prior payments for the acquisition of subsidiary equity[13] - The investment activities resulted in a net cash outflow of 35,272,499.31 RMB in Q1 2018, compared to a much larger outflow of 263,312,144.81 RMB in the previous year[32] - The company did not report any cash inflow from investment activities during the current period[35] - Cash outflow from investing activities was -$100.70 million, compared to -$193.44 million in the previous year[35] Financial Expenses - Financial expenses increased by 133.07% to CNY 34,948,294.26 due to increased interest expenses from bond issuance and loans[12] - The company reported a significant increase in financial expenses, which rose to CNY 34,948,294.26 from CNY 14,994,493.57 year-over-year[28] - The management expenses for Q1 2018 were 8,389,137.35 RMB, up from 4,937,510.80 RMB in the same period last year[29] Cash and Cash Equivalents - Cash and cash equivalents decreased by 40.60% to CNY 695,117,880.37 compared to the beginning of the year[12] - The company's cash and cash equivalents decreased to CNY 695,117,880.37 from CNY 1,170,316,390.39 at the beginning of the year, a decline of 40.59%[19] - Cash and cash equivalents at the end of the period totaled $176.18 million, down from $531.77 million at the beginning of the period[35]