OGI(SH:600811)2017-04-28 16:00Financial Performance - Net profit attributable to shareholders decreased by 62.96% to CNY 85.46 million year-on-year[7] - Operating revenue declined by 12.27% to CNY 1.29 billion compared to the same period last year[7] - Basic earnings per share dropped by 78.40% to CNY 0.0299[7] - The weighted average return on net assets decreased by 1.79 percentage points to 0.44%[7] - Net profit attributable to the parent company decreased by 62.96% to ¥85,461,662.13, primarily due to high expenses from the development phase of subsidiary Guokai Dongfang[14] - Net profit for Q1 2017 was ¥70,652,468.00, down 68.4% from ¥223,609,654.74 in the same period last year[27] - Basic and diluted earnings per share decreased to ¥0.0299 from ¥0.1384, reflecting a decline of 78.4%[28] - The company reported a total comprehensive income of ¥95,249,419.65, slightly up from ¥92,141,317.96 year-over-year[28] Assets and Liabilities - Total assets increased by 5.58% to CNY 50.28 billion compared to the end of the previous year[7] - Current liabilities rose to CNY 14.36 billion, compared to CNY 12.16 billion, reflecting an increase of about 18%[22] - Long-term borrowings decreased slightly to CNY 10.26 billion from CNY 10.31 billion, a decline of approximately 0.5%[22] - The company reported a total liability of CNY 30.44 billion, up from CNY 27.88 billion, which is an increase of about 9.2%[22] - Total current assets reached CNY 31.56 billion, compared to CNY 29.44 billion, reflecting a growth of approximately 7.2%[21] - The company’s retained earnings increased to CNY 4.72 billion from CNY 4.63 billion, a growth of about 1.9%[22] Cash Flow - The net cash flow from operating activities improved from -CNY 487.40 million to -CNY 387.01 million year-on-year[7] - Cash received from sales of goods and services increased by 44.31% to ¥2,084,988,861.50, mainly from prepayments for housing sales by Guokai Dongfang[14] - Cash flow from operating activities showed a net outflow of ¥387,013,823.41, an improvement from a net outflow of ¥487,397,900.60 in the previous period[29] - The total cash inflow from operating activities was ¥1,998,964,829.00, a substantial increase from ¥20,014,859.79 in the previous year[32] - The company reported a cash outflow of ¥1,266,704,180.58 from operating activities, compared to ¥45,497,431.94 in the same period last year[32] - The net increase in cash and cash equivalents for Q1 2017 was ¥585,824,379.99, contrasting with a decrease of ¥174,978,819.41 in Q1 2016[33] Shareholder Information - The total number of shareholders reached 92,633 at the end of the reporting period[11] - The largest shareholder, Tibet Dongfang Runlan Investment Co., Ltd., holds 16.39% of shares, with 468,349,682 shares pledged[11] Operational Activities - The company received government subsidies amounting to CNY 2.26 million related to normal business operations[8] - Non-operating income and expenses totaled CNY 3.48 million for the period[9] - Accounts receivable increased by 103.08% to ¥85,740,447.97, primarily due to increased receivables from subsidiary Dongfang Grain Warehouse[13] - Prepayments rose by 105.64% to ¥284,064,614.05, mainly due to prepayments for grain purchases by Dongfang Grain Warehouse[13] - Other current assets increased by 32.42% to ¥3,667,036,234.22, primarily from idle funds in treasury bond reverse repos[13] - Management expenses increased by 55.21% to ¥130,252,560.25, mainly due to the consolidation of additional units including Guokai Dongfang[13] - Financial expenses rose by 89.41% to ¥239,881,835.54, also due to the consolidation of additional units including Guokai Dongfang[13] Future Plans - The company plans to issue short-term financing bonds with a registered scale of up to ¥40 billion to meet operational funding needs[17] - The company and Beijing Vanke jointly acquired land use rights for ¥58.5 billion for development projects[18] - The company plans to focus on expanding its investment activities and improving operational efficiency in the upcoming quarters[29]