XCEC(SH:600777)2018-04-26 16:00Financial Performance - Operating revenue surged by 1,551.65% to CNY 966,491,317.18 year-on-year[5] - Net profit attributable to shareholders rose by 327.86% to CNY 85,105,003.96 compared to the same period last year[5] - The weighted average return on equity increased by 0.27 percentage points to 0.63%[5] - Total operating revenue for Q1 2018 reached ¥966,491,317.18, a significant increase from ¥58,516,574.72 in the same period last year, representing a growth of approximately 1,548%[25] - Net profit for Q1 2018 was ¥85,105,003.96, up from ¥19,890,899.42 in Q1 2017, reflecting a growth of approximately 328%[25] - The net profit attributable to the parent company's shareholders for Q1 2018 was ¥85,105,003.96, compared to ¥19,890,899.42 in the same period last year, representing a significant increase[26] Cash Flow - Cash flow from operating activities turned positive at CNY 624,518,160.55, compared to a negative cash flow of CNY -75,995,210.05 in the previous year[5] - The net cash flow from operating activities increased by 921.79% year-on-year, mainly due to higher cash received from oil sales[12] - The operating cash flow for Q1 2018 was ¥624,518,160.55, a turnaround from a negative cash flow of -¥75,995,210.05 in the previous year[32] - Cash inflows from operating activities totaled ¥982,358,359.48, compared to ¥107,022,776.52 in the same period last year[32] - The net cash flow from financing activities significantly increased, driven by higher cash received from financing activities compared to the previous year[12] - The net cash flow from financing activities was 12,522,183.30 RMB, compared to -7,022,291.67 RMB in the previous year, indicating a positive shift[35] Assets and Liabilities - Total assets increased by 4.46% to CNY 20,795,068,091.11 compared to the end of the previous year[5] - As of March 31, 2018, total assets amounted to RMB 20,795,068,091.11, an increase from RMB 19,907,070,232.91 at the beginning of the year[18] - Total liabilities increased to ¥7,569,146,440.88 in Q1 2018 from ¥6,343,542,105.85 in the previous year, marking an increase of about 19.4%[21] - Current liabilities totaled ¥2,218,215,268.80, down from ¥5,867,194,033.77 at the beginning of the year, indicating a decrease of approximately 62.3%[21] - The company's equity attributable to shareholders decreased to ¥13,225,921,650.23 from ¥13,563,528,127.06, a decline of about 2.5%[21] Investments - Investment income decreased by 94.35% as the company's financial management income declined year-on-year[11] - The company completed the acquisition of 100% equity of Dingliang Huitong, with the registered capital increasing from RMB 4,051,236,570 to RMB 6,800,495,825[13] - The company is in the process of planning the acquisition of 100% equity of Shenzhen Hansa, with due diligence and evaluation ongoing[16] - The company plans to issue non-public corporate bonds up to RMB 30 billion, with the application documents submitted to the Shanghai Stock Exchange[16] Inventory and Assets Management - Prepaid accounts increased by 52.05% due to increased land payments for gas stations[10] - Inventory decreased by 39.62% due to reduced turnover materials in subsidiaries[10] - Fixed assets increased by 51.28% due to the purchase of water treatment equipment by a subsidiary in the U.S.[10] Financial Expenses - The company's financial expenses for Q1 2018 were ¥250,583,924.29, a significant rise from ¥5,717,780.08 in Q1 2017, reflecting an increase of approximately 4,283%[25] - Financial expenses decreased to ¥4,111,993.98 from ¥5,062,638.45 in the previous year[29] Cash Management - The company reported a significant decrease in cash received from investment income, dropping to 1,033,424.66 RMB from 20,533,471.85 RMB year-over-year[35] - The company’s cash flow management strategies may need to be reassessed given the fluctuations in cash inflows and outflows across various activities[35]