LNCD(SH:600739)2016-04-28 16:00Financial Performance - Operating revenue rose by 11.67% to CNY 1.74 billion year-on-year[7] - Net profit attributable to shareholders decreased by 36.89% to CNY 292.38 million compared to the same period last year[7] - Basic and diluted earnings per share fell by 41.02% to CNY 0.1911[7] - Total revenue for the first quarter of 2016 was CNY 1,744,156,721.60, an increase of 11.6% compared to CNY 1,561,875,583.35 in the same period last year[29] - Net profit for the first quarter was CNY 292,680,905.53, a decrease of 40.1% compared to CNY 488,623,804.49 in the previous year[29] - The net profit for the current period was ¥301,766,559.05, compared to ¥751,272,254.69 in the previous period, indicating a decrease of about 59.9%[33] - The total profit for the current period was ¥301,567,926.51, down from ¥751,375,212.49 in the previous period, reflecting a decline of approximately 59.9%[33] Asset and Liability Changes - Total assets increased by 19.92% to CNY 31.91 billion compared to the end of the previous year[7] - Long-term equity investments increased by 66.43% to CNY 21.19 billion, primarily due to new investments in China United Insurance Holdings[13] - Short-term borrowings surged by 327.74% to CNY 7.01 billion, reflecting an expansion in borrowing scale to meet funding needs[13] - The total liabilities of the company increased to approximately ¥12.87 billion from ¥7.93 billion, highlighting a substantial rise in financial obligations[23] - Current liabilities rose significantly to CNY 10,660,965,297.55 from CNY 4,779,286,052.10, marking an increase of 73.5%[27] - Total liabilities increased to CNY 11,660,976,876.68 from CNY 5,779,409,620.39, reflecting a growth of 102.5%[27] Cash Flow Analysis - Cash flow from operating activities improved by 93.10%, reaching a net cash outflow of CNY 14.51 million[7] - The company's cash and cash equivalents decreased to approximately ¥1.10 billion from ¥2.76 billion at the beginning of the year, reflecting a significant reduction in liquidity[21] - The company's cash and cash equivalents decreased to CNY 129,795,145.53 from CNY 750,271,995.81, a decline of 82.7%[26] - The company reported a net cash outflow from operating activities of ¥14,514,607.75, an improvement from a net outflow of ¥210,470,084.96 in the previous period[35] - The net cash flow from operating activities was approximately $1.20 billion, a significant improvement from a negative cash flow of $325.16 million in the previous period[39] - The cash flow from operating activities was primarily impacted by a significant increase in cash outflows related to operational expenses[39] Investment Activities - The company successfully acquired a 19.595% stake in China United Insurance Holdings Company, amounting to 3 billion shares, with the transaction approved by the China Insurance Regulatory Commission[14] - Cash inflow from investment activities was ¥845,397,746.73, compared to ¥62,625,611.67 in the previous period, showing a substantial increase[36] - The net cash outflow from investment activities was ¥6,846,057,307.95, worsening from a net outflow of ¥248,901,350.92 in the previous period[36] - The company reported an investment income of CNY 410,658,392.79, down from CNY 533,872,057.19, indicating a decrease of 23.1%[29] - The cash inflow from recovering investments was approximately $709.86 million, a substantial increase from $60.51 million in the prior period[39] Financial Expenses - The company reported a significant increase in financial expenses, totaling approximately ¥138.86 million, up 176.96% compared to the previous period due to expanded debt financing and increased interest costs[14] - The company reported a financial expense of ¥108,183,847.65, a notable increase from a financial income of ¥6,664,121.14 in the previous period[33] Shareholder Information - The number of shareholders reached 134,465, with the largest shareholder holding 11.11% of the shares[11] Future Plans and Commitments - The company plans to adjust its non-public stock issuance plan due to changes in market conditions and regulatory issues[15] - The company will continue to conduct supplementary due diligence on the acquired assets to ensure fair information disclosure and protect investor interests[14] - The company has committed to timely information disclosure regarding the progress of its asset acquisition and stock issuance plans[15]