SMC(SH:600823)2016-04-28 16:00Financial Performance - Operating revenue rose by 26.21% to CNY 2.62 billion year-on-year[6] - Net profit attributable to shareholders increased by 2.18% to CNY 254.83 million compared to the same period last year[6] - The company reported a basic earnings per share of CNY 0.13, unchanged from the previous year[6] - The weighted average return on equity decreased by 0.27 percentage points to 1.29%[6] - The net profit for the same period was RMB 297 million, a decrease of 19.04% year-on-year[12] - The net profit attributable to the parent company was RMB 253 million, showing a slight increase of 0.03% compared to the previous year[12] - Total operating revenue for Q1 2016 was CNY 2,624,068,492.07, an increase of 26.3% compared to CNY 2,079,154,664.77 in the same period last year[29] - Net profit for Q1 2016 was CNY 297,066,331.89, a decrease of 19.0% from CNY 366,939,295.59 in Q1 2015[30] - The company reported a comprehensive income total of CNY 308,023,981.16 for Q1 2016, slightly down from CNY 317,499,412.29 in the previous year[31] - The total comprehensive income for Q1 2016 was -147,034,713.92 RMB, compared to -28,497,045.54 RMB in the previous year, indicating a worsening of overall financial performance[34] Cash Flow - Cash flow from operating activities improved significantly, with a net cash inflow of CNY 523.05 million, a turnaround from a net outflow of CNY 1.18 billion in the previous year[6] - Operating cash flow from operating activities was RMB 523 million, a significant increase of 144.4% compared to the previous year[13] - Cash inflow from sales of goods and services reached 2,886,347,627.07 RMB, up from 1,692,279,361.52 RMB year-over-year, reflecting a growth of approximately 70.5%[36] - The net cash flow from operating activities for Q1 2016 was 523,045,384.40 RMB, a recovery from a negative cash flow of -1,177,909,646.58 RMB in the same period last year[37] - The net cash flow from investing activities was 300,805,406.58 RMB, recovering from a negative cash flow of -511,179,758.85 RMB in the previous year[37] - Cash flow from financing activities generated a net inflow of 1,349,573,572.41 RMB, down from 3,411,636,346.56 RMB in the same period last year[38] - The company reported a decrease in cash outflows for operating activities, totaling 3,969,818,832.62 RMB, down from 5,163,688,443.50 RMB year-over-year[37] - The company received 550,514,534.98 RMB from investment recoveries, a significant increase from 10,000,000.00 RMB in the previous year[37] - The company paid 2,675,426,427.59 RMB in cash outflows for financing activities, a decrease from 4,211,663,653.44 RMB in the same period last year[38] Assets and Liabilities - Total assets increased by 2.28% to CNY 66.84 billion compared to the end of the previous year[6] - The total assets as of Q1 2016 amounted to CNY 47,565,484,322.59, compared to CNY 44,898,825,477.86 at the end of the previous year, reflecting a growth of 5.9%[26] - Total current liabilities decreased to CNY 27.62 billion from CNY 27.88 billion, a reduction of about 0.94%[22] - The total non-current liabilities increased to CNY 14.26 billion from CNY 12.81 billion, marking an increase of approximately 11.3%[22] - The company's total equity rose to CNY 24.96 billion from CNY 24.66 billion, indicating a growth of about 1.22%[22] - The accounts receivable increased to CNY 1.90 billion from CNY 1.65 billion, reflecting a growth of approximately 14.1%[20] - Inventory levels stood at CNY 26.42 billion, slightly up from CNY 26.24 billion, showing an increase of about 0.7%[20] Shareholder Information - The number of shareholders reached 43,250, indicating a stable shareholder base[10] - The largest shareholder, Peak Win International Limited, holds 43.73% of the shares, with 334.92 million shares pledged[10] Corporate Governance and Compliance - The company has committed to ensuring timely disclosure of information that may impact its operations, as per the agreement with Shimao Property (0813HK) and its actual controller Xu Rongmao[15] - The company has strictly adhered to the non-competition agreement with Shimao Property and its actual controller during the asset acquisition process[15] - The company has committed to not interfere with operational management and to protect shareholder interests as part of its corporate governance commitments[17] - There are no warnings regarding potential losses or significant changes in net profit compared to the previous year, indicating stable financial performance[17] Future Plans and Developments - The company has plans for market expansion and new product development, although specific details were not disclosed in the report[6] - The company plans to acquire at least 51% equity in three commercial real estate projects from Shimao Property, subject to necessary approvals[16] - If the company does not acquire the specified equity, it will have the right of first refusal for any future sales or leases of the projects[16] - The company's board and senior management have committed to measures to mitigate the dilution of immediate returns from the non-public issuance of shares in 2016[16]