CMST(SH:600787)2018-04-27 16:00Financial Performance - Net profit attributable to shareholders decreased by 40.32% to CNY 17,764,911.28 year-on-year[6] - Basic earnings per share decreased by 40.00% to CNY 0.0081[6] - Total profit decreased by 87.92% to CNY 4,879,930.87, largely due to significant investments in the Zhongchu Zhiyun project during its cultivation period[15] - Total revenue for Q1 2018 was CNY 5,640,132,893.25, an increase of 1.25% compared to CNY 5,570,710,261.28 in the previous period[27] - Net profit for Q1 2018 was ¥8,069,184.16, down 33.8% from ¥12,125,872.19 in Q1 2017[32] - Operating profit for Q1 2018 was ¥11,288,501.06, a decline of 14.7% compared to ¥13,229,947.72 in the previous year[32] - The total profit for Q1 2018 was ¥10,891,724.22, down 35.3% from ¥16,793,670.32 in Q1 2017[32] Revenue and Operating Activities - Operating revenue increased by 1.23% to CNY 5,636,175,487.74 compared to the same period last year[6] - Operating revenue was CNY 5,636,175,487.74, up from CNY 5,567,696,124.66, indicating a growth of approximately 1.23%[27] - Cash received from operating activities decreased by 31.00% to CNY 394,728,265.51, reflecting a reduction in receivables[15] - The cash inflow from sales of goods and services reached ¥7,009,328,615.58, an increase of 12.8% compared to ¥6,209,566,704.56 in the previous period[33] Cash Flow and Liquidity - Cash flow from operating activities showed a significant decline, with a net outflow of CNY -1,150,773,366.63 compared to CNY -237,001,339.17 in the previous year[6] - The net cash flow from operating activities was -¥1,150,773,366.63, worsening from -¥237,001,339.17 in the previous period[33] - The cash and cash equivalents decreased to CNY 960,389,680.57 from CNY 1,414,895,086.25, a decline of about 32.06%[23] - The cash and cash equivalents at the end of the period decreased to ¥1,348,241,430.57 from ¥1,477,301,603.93, indicating a decline in liquidity[34] Assets and Liabilities - Total assets increased by 7.48% to CNY 20,120,429,188.67 compared to the end of the previous year[6] - Total liabilities rose to CNY 9,340,695,933.85, compared to CNY 7,943,533,937.64, marking an increase of approximately 17.55%[21] - Current liabilities totaled CNY 5,262,746,456.51, up from CNY 3,865,498,314.20, representing a growth of around 36.14%[21] - Non-current liabilities amounted to CNY 4,077,949,477.34, slightly decreased from CNY 4,078,035,623.44, showing a marginal decline of 0.02%[21] - Owner's equity increased to CNY 10,779,733,254.82 from CNY 10,776,649,215.73, a growth of approximately 0.03%[21] Inventory and Prepayments - Inventory increased by 78.67% to CNY 1,906,303,523.42, attributed to the growth in supply chain operations[14] - Prepayments increased by 158.40% to CNY 1,548,868,925.61 due to expanded supply chain business and increased procurement[14] - Prepayments increased by 83.11% to CNY 1,293,141,346.67, attributed to the growth in supply chain business[15] - Inventory increased significantly to CNY 1,198,087,942.83 from CNY 227,931,647.34, reflecting a growth of approximately 426.36%[24] Financing and Borrowings - Short-term borrowings increased by 176.03% to CNY 1,567,462,807.78 due to expanded supply chain operations and increased financing needs[15] - Financial expenses surged by 141.08% to CNY 36,248,638.01, mainly due to increased interest expenses from higher borrowings[15] - The cash inflow from financing activities was ¥1,336,338,234.90, compared to ¥1,246,938,257.41 in the previous period, reflecting a 7.2% increase[34] - The net cash flow from financing activities improved to ¥899,962,912.48 from ¥290,191,913.70, showing a significant increase in financing efficiency[34] Legal and Other Matters - The company is currently involved in legal disputes, including a case where it is required to compensate CNY 91 million due to a contract dispute[16]