AVIC SAC(SH:600760)2016-04-25 16:00Financial Performance - Operating revenue fell by 42.63% to CNY 232,663,322.51 year-on-year[6] - Net cash flow from operating activities decreased by 65.81% to CNY 5,575,879.99 compared to the same period last year[6] - Net profit attributable to shareholders of the listed company was a loss of CNY 27,362,579.76, improving from a loss of CNY 40,878,359.05 in the previous year[6] - Basic earnings per share were -CNY 0.07, compared to -CNY 0.11 in the same period last year[6] - Operating revenue for the first quarter was 232.66 million yuan, down 42.63% from 405.57 million yuan in the same period last year[14] - The net loss for Q1 2016 was ¥39,856,376.18, compared to a net loss of ¥55,991,962.41 in Q1 2015, representing a 28.8% improvement[32] - The net profit attributable to the parent company for Q1 2016 was ¥-25,702,863.12, an improvement from ¥-37,358,035.17 in the previous year[32] - The company reported a significant decrease in sales expenses, which were ¥10,509,484.56 in Q1 2016 compared to ¥23,648,323.56 in Q1 2015, a reduction of 55.6%[32] - The company reported a cash flow from financing activities net gain of ¥130,905,804.69, compared to a net loss of ¥82,500,425.33 in the previous year[40] Assets and Liabilities - Total assets decreased by 25.59% to CNY 1,897,521,674.12 compared to the end of the previous year[6] - Current assets totaled CNY 858,549,775.93, down from CNY 875,475,345.34 at the beginning of the year, indicating a decline of approximately 1.1%[23] - Total liabilities decreased to CNY 1,426,651,975.36 from CNY 2,039,278,510.55, reflecting a reduction of approximately 30%[25] - Short-term borrowings were CNY 614,000,000.00, down from CNY 711,000,000.00, indicating a decrease of about 13.7%[24] - Total assets as of March 31, 2016, amounted to CNY 1,897,521,674.12, a decrease from CNY 2,550,004,585.49 at the beginning of the year[22] - Total liabilities for Q1 2016 amounted to ¥50,000,000.00, down from ¥837,684,591.60 in the previous year[29] Cash Flow - Cash and cash equivalents increased to CNY 178,530,428.70 from CNY 154,461,023.92, representing a growth of about 15.6%[23] - Operating cash flow for Q1 2016 was ¥5,575,879.99, down from ¥16,309,387.61 in Q1 2015, indicating a decline of 65.8%[39] - Total cash inflow from operating activities decreased to ¥249,503,777.04, compared to ¥343,150,083.86 in the previous year, reflecting a 27.3% decline[39] - The company experienced a significant drop in cash received from sales, totaling ¥185,026,301.53, down 33.5% from ¥277,988,861.59 in the prior year[38] - Cash and cash equivalents at the end of Q1 2016 increased to ¥157,070,568.70 from ¥129,092,021.88, marking a net increase of ¥23,522,772.78[40] Shareholder Information - The total number of shareholders reached 94,961 at the end of the reporting period[9] - The largest shareholder, Jincheng Group Co., Ltd., holds 16.11% of the shares[9] Investments and Acquisitions - The company plans to sell 51% of its stake in Liuzhou Chenglong Special Vehicle Co., Ltd. for no less than 930,094.21 yuan due to continuous losses[18] - The company invested 10 million yuan to establish a joint venture with Beijing Automotive Manufacturing Factory, holding a 49% stake[17] Other Financial Metrics - Non-recurring gains and losses amounted to CNY 1,659,716.64 during the reporting period[7] - The company’s financial expenses decreased by 47.98% year-on-year, from 15.80 million yuan to 8.22 million yuan[15] - The company’s cash flow from financing activities increased by 213.41 million yuan, a growth of 258.67% compared to the previous year[16] - The company reported a net loss of CNY 549,746,364.59 in retained earnings, compared to a loss of CNY 524,043,501.47 at the beginning of the year[25] - The company has committed to not engaging in non-operational use of funds during the restructuring process[20] - The company has pledged to not reduce its shareholding during the implementation period of the share increase[20] - The company anticipates potential significant changes in net profit compared to the same period last year, but specific figures were not disclosed[21]