Insigma(SH:600797)2016-04-27 16:00Financial Performance - Total assets decreased by 7.55% to CNY 3,955,213,024.46 compared to the end of the previous year[6] - Operating revenue fell by 27.92% to CNY 677,807,254.72 year-on-year[6] - Net cash flow from operating activities decreased by 22.57% to CNY -287,077,248.63 compared to the same period last year[6] - Net profit attributable to shareholders was CNY -14,055,115.09, showing an improvement from CNY -23,521,559.57 in the previous year[6] - The weighted average return on net assets improved to -0.69% from -1.44% year-on-year[6] - The diluted earnings per share was CNY -0.02, compared to CNY -0.03 in the previous year[7] - The company reported a significant decrease in total equity attributable to shareholders, down by 0.67% to CNY 2,039,375,366.85[6] - The company reported a net profit margin decline due to reduced revenue and increased operational costs, impacting overall profitability[30] - The company is focusing on market expansion and new product development to drive future growth[30] Shareholder Information - The number of shareholders reached 115,766 at the end of the reporting period[8] - Zhejiang Zheda Wangxin Group holds 19.65% of shares, with 127,200,000 shares pledged[8] Cash Flow and Liquidity - Cash and cash equivalents decreased by 56.34% to ¥407,209,646.37 from ¥932,605,570.20 due to repayment of loans and increased prepayments[11] - The net increase in cash and cash equivalents was -507,138,516.02, a decrease of 70.88%, mainly due to loan repayments and cash payments for the acquisition of assets from the 2015 directed issuance[12] - Cash flow from operating activities was CNY 690,285,682.58, down from CNY 1,194,176,392.92 in the previous year, indicating a decrease of approximately 42.3%[37] - The total cash and cash equivalents at the end of the period were 124,253,324.70 RMB, down from 509,509,164.06 RMB in the previous period, indicating a substantial reduction in liquidity[39] Government Support - The company received government subsidies amounting to CNY 3,808,888.75 during the reporting period[9] Investment and Assets - Cash and cash equivalents dropped significantly to CNY 121,610,077.13 from CNY 265,907,096.22, a decline of approximately 54.3%[27] - Accounts receivable increased to ¥693,123,151.01 from ¥535,772,386.64, reflecting a growth of about 29.4%[23] - Inventory rose to ¥617,646,671.18 compared to ¥594,362,489.56 at the beginning of the year, indicating an increase of approximately 3.9%[23] - Total current assets decreased to ¥2,444,096,647.14 from ¥2,768,274,363.65, a decline of about 11.7%[23] - The company's long-term equity investments were valued at ¥854,340,858.73, slightly up from ¥846,032,232.46, showing a marginal increase of about 1.6%[23] Debt and Liabilities - Current liabilities decreased to CNY 1,771,602,008.70 from CNY 2,073,754,373.73, a reduction of about 14.6%[24] - Total liabilities decreased to CNY 1,815,990,504.75 from CNY 2,125,292,789.35, a reduction of approximately 14.6%[25] Profit Commitments and Future Targets - The company committed to achieving net profits of no less than 20 million, 46 million, and 79.8 million CNY for the years 2015, 2016, and 2017 respectively, with actual profits needing to meet these targets to avoid compensation obligations[14] - The company also set net profit targets of 10 million, 22 million, and 36.4 million CNY for its subsidiary, with similar compensation clauses in place if these targets are not met[14] - The company has established a compensation mechanism for shareholders if net profit commitments are not fulfilled, ensuring accountability among major stakeholders[14] Compliance and Governance - The company has committed to not engage in any business that directly or indirectly competes with its main operations, both currently and in the future[17] - The company will avoid related party transactions with its subsidiaries as much as possible, adhering to legal and regulatory requirements[17] - The company has established a priority purchase right for any business opportunities that may compete with its main operations[17] Financial Reporting - The company’s financial statements for the first quarter of 2016 are unaudited, indicating a need for further review and confirmation of financial health[22]