Smarter Energy(SH:600869)2017-04-27 16:00Financial Performance - Operating revenue for the first quarter reached CNY 2.80 billion, a year-on-year increase of 24.74%[5] - Net profit attributable to shareholders decreased by 86.31% to CNY 11.87 million compared to the same period last year[5] - The weighted average return on net assets dropped by 1.85 percentage points to 0.21%[5] - Total operating revenue for Q1 2017 reached ¥2,797,825,164.45, an increase of 24.8% compared to ¥2,242,853,198.21 in the same period last year[27] - Net profit for Q1 2017 was ¥15,518,698.59, a decrease of 81.8% from ¥85,117,446.54 in Q1 2016[28] - The net profit attributable to shareholders of the parent company was ¥11,866,411.87, down 86.3% from ¥86,668,775.64 in the previous year[28] - The company reported an operating profit of ¥504,001.15 for Q1 2017, a significant decline from ¥91,587,281.61 in Q1 2016[27] - Total profit for Q1 2017 was ¥19,199,046.73, down 81.9% from ¥105,844,271.99 in the previous year[27] Revenue Breakdown - Revenue from the smart grid cable segment surged by 90.54% to CNY 863.32 million[8] - Revenue from the smart oil and gas cable segment increased significantly by 250.76% to CNY 69.97 million[8] - Revenue from the East China region grew by 26.99% to CNY 1.67 billion[10] Assets and Liabilities - Total assets increased by 7.98% to CNY 14.70 billion compared to the end of the previous year[5] - The company's total current assets reached 10,014,489,365.86, up from 9,014,836,570.12 at the beginning of the year[21] - Non-current liabilities rose to ¥2.55 billion, up from ¥2.14 billion, indicating a 19.2% increase[23] - Current liabilities increased significantly to ¥6.25 billion, compared to ¥5.59 billion, reflecting an 11.8% rise[22] - The total liabilities increased to ¥8.80 billion from ¥7.73 billion, marking a rise of 13.8%[23] - The owner's equity totaled ¥5.89 billion, a slight increase from ¥5.88 billion, reflecting a growth of 0.2%[23] Cash Flow - The net cash flow from operating activities was -47,118.23, significantly impacted by increased material procurement[15] - The net cash flow from operating activities was -471,182,339.55 RMB, compared to -26,308,020.39 RMB in the previous period, indicating a significant decline in operational cash flow[34] - Total cash inflow from financing activities amounted to 1,096,400,000.00 RMB, while cash outflow was 618,703,909.10 RMB, resulting in a net cash flow of 477,696,090.90 RMB[35] - The cash and cash equivalents at the end of the period were 784,130,150.04 RMB, down from 1,010,275,902.57 RMB at the beginning of the period[35] - The net cash flow from investment activities was -232,659,503.88 RMB, compared to -174,969,481.69 RMB in the previous period, reflecting increased investment outflows[34] Shareholder Information - The total number of shareholders reached 76,372[11] - The largest shareholder, Far East Holding Group, holds 67.14% of the shares, with a significant portion pledged[11] Investments and Financing - The company plans to invest 24 million USD to establish a joint venture, Detroit Electric Vehicle Company, holding a 40% stake[16] - The company issued 460 million RMB in bonds to enhance liquidity and optimize the capital structure[17] Other Financial Metrics - Non-operating income for the period amounted to CNY 4.81 million[7] - Prepayments increased by 626.58% year-on-year, reaching 65,083.75, primarily due to an increase in raw material prepayments[12] - Interest receivables rose by 56.81% year-on-year to 291.70, mainly due to an increase in margin deposits[12] - The company disposed of all held-for-sale assets, resulting in a 100% decrease in this category[12] - Other current assets decreased by 31.35% year-on-year to 9,583.77, mainly due to the maturity of financial products[12] - Available-for-sale financial assets increased by 82.58% year-on-year to 23,781.03, primarily due to new external investments[12] - Construction in progress surged by 451.73% year-on-year to 9,770.80, attributed to new projects and equipment[12]