NPEC(SH:600775)2018-04-26 16:00Financial Performance - Operating revenue rose by 20.58% to CNY 1,034,726,458.86 year-on-year[7] - Net profit attributable to shareholders increased by 146.82% to CNY 26,492,533.22 compared to the same period last year[7] - Net profit attributable to shareholders after deducting non-recurring gains and losses surged by 634.29% to CNY 20,346,101.44[7] - Basic and diluted earnings per share both increased by 147.86% to CNY 0.0290[7] - Total revenue for Q1 2018 reached ¥1,034,726,458.86, an increase of 20.5% compared to ¥858,126,674.18 in the same period last year[26] - Operating profit for Q1 2018 was ¥40,283,694.51, up 95.7% from ¥20,573,445.43 in Q1 2017[26] - Net profit attributable to shareholders of the parent company was ¥26,492,533.22, a significant increase of 146.6% from ¥10,733,614.87 in the previous year[28] Asset and Liability Changes - Total assets increased by 3.48% to CNY 5,862,729,882.30 compared to the end of the previous year[7] - Total current assets as of March 31, 2018, amounted to CNY 4,505,282,918.10, an increase from CNY 4,306,554,184.92 at the beginning of the year[18] - Total liabilities as of March 31, 2018, were CNY 2,256,870,905.44, up from CNY 2,093,859,733.16 at the beginning of the year[20] - The company's total assets reached CNY 5,862,729,882.30, compared to CNY 5,665,503,486.59 at the start of the year[20] - Total liabilities decreased to ¥230,285,038.35 from ¥280,990,655.82, a reduction of 18.0%[24] Cash Flow and Operating Activities - Cash flow from operating activities decreased by 173.78% to -CNY 123,298,866.81 due to increased cash outflows for purchasing goods[7] - The net cash flow from operating activities for Q1 2018 was -¥123,298,866.81, down from ¥167,124,080.65 in the previous year, indicating cash flow challenges[32] - Cash and cash equivalents at the end of Q1 2018 totaled ¥1,010,054,510.86, a decrease from ¥1,109,289,355.98 at the end of Q1 2017[32] - The company reported a significant increase in cash outflow related to operating activities, totaling $75.5 million, compared to $21.0 million in the previous year[36] - Overall, the net decrease in cash and cash equivalents was -$62.7 million, compared to -$139.0 million in the same quarter last year, showing an improvement in cash management[36] Inventory and Prepayments - Inventory increased by 42.63% to CNY 842,956,453.69, primarily due to increased raw material and work-in-progress stock[14] - Prepayments decreased by 33.50% to CNY 161,450,062.07, mainly due to the recognition of income from certain projects[14] - Inventory increased significantly to CNY 842,956,453.69 from CNY 591,018,560.71, indicating a rise in stock levels[18] Other Income and Expenses - Financial expenses for Q1 2018 were CNY 2,971,495.48, a decrease of 1,780,563.36 compared to Q1 2017, primarily due to increased exchange losses[15] - Investment income decreased by 40.55% to CNY 14,176,005.34 in Q1 2018, attributed to reduced profits from associated companies[15] - Other income fell by 74.27% to CNY 480,829.30, mainly due to a decrease in government subsidies related to daily operations[15] - The company achieved an investment income of ¥14,176,005.34, down from ¥23,844,002.87 in the previous year[26] - The investment income for Q1 2018 was ¥7,818,032.82, down from ¥23,373,150.24 in the same period last year, indicating a decline in returns from investments[30] Shareholder Information - The number of shareholders reached 37,578, with the top ten shareholders holding a combined 66.04% of shares[10] - Government subsidies recognized in the current period amounted to CNY 1,325,523.99, contributing to non-recurring gains[8] Operational Challenges - Operating profit for Q1 2018 was a loss of ¥7,095,637.94, compared to a profit of ¥2,469,678.80 in Q1 2017, indicating a decline in profitability[30] - Net profit for Q1 2018 was also a loss of ¥7,086,510.58, contrasting with a net profit of ¥2,476,629.15 in Q1 2017, reflecting a negative performance shift[31]