Milkground(SH:600882)2017-04-27 16:00Financial Performance - Operating revenue surged by 123.00% to CNY 198,923,925.98 from CNY 89,203,226.41 in the same period last year[5] - Net profit attributable to shareholders reached CNY 4,283,844.57, a significant turnaround from a loss of CNY 24,940,398.11 in the previous year, marking a 117.18% increase[5] - Operating revenue increased by 123.00% compared to the same period last year, primarily due to the asset restructuring and the inclusion of Guangze Dairy Co., Ltd.[15] - The net profit for Q1 2017 was CNY 4,540,938.51, a significant improvement compared to a net loss of CNY 24,333,161.25 in the previous year[27] - The total comprehensive income for the period was also a loss of CNY 11,554,963.20, reflecting the overall financial challenges faced by the company[31] Cash Flow - Cash flow from operating activities showed a negative figure of CNY -47,707,520.06, worsening by 92.74% compared to the previous year[5] - Net cash flow from operating activities decreased by 92.74% year-on-year, primarily due to increased tax payments and inventory reserves.[15] - Cash inflow from financing activities amounted to 22,520,000.00 RMB, while cash outflow was 86,209,968.82 RMB, leading to a net cash flow from financing activities of -63,689,968.82 RMB[37] - The cash flow statement indicates a strategic focus on improving cash management and reducing operational cash outflows[36] Assets and Liabilities - Total assets increased by 4.91% to CNY 2,277,448,060.40 compared to the end of the previous year[5] - The total liabilities increased to CNY 1,112,980,920.78 from CNY 1,010,904,487.58, reflecting a rise of 10.7%[24] - The total equity attributable to shareholders of the parent company was CNY 1,164,467,139.62, slightly up from CNY 1,159,926,201.11[24] - The company reported a decrease in other receivables from CNY 205,121,904.47 to CNY 108,687,587.49, a decline of 47.0%[24] Inventory and Expenses - Inventory increased by 32.85% compared to the beginning of the year, indicating a rise in stockpiling[14] - Operating costs rose by 63.75% year-on-year, attributed to the increase in operating revenue following the asset restructuring.[15] - Sales expenses surged by 1035.79% year-on-year, resulting from changes in the main business and operating model during the reporting period.[15] - Financial expenses increased by 386.62% compared to the same period last year, mainly due to a rise in average loan balances.[15] - The management expenses for the period were CNY 6,013,092.49, significantly higher than CNY 130,274.00 in the previous year, indicating increased operational costs[30] Other Income and Subsidies - Other income increased by 286.71% year-on-year, mainly due to government subsidies received by Guangze Dairy Co., Ltd. after the asset restructuring.[15] - Non-current asset disposal loss was recorded at CNY -1,996.2, while government subsidies related to normal business operations amounted to CNY 380,666.62[7] Shareholder Information - The number of shareholders reached 18,165, with the largest shareholder holding 18.03% of the shares[11] - Weighted average return on equity improved by 2.68 percentage points to 0.39% from -2.29%[5]