2018-04-26 16:00Financial Performance - Operating revenue for the first quarter was CNY 1.94 billion, down 8.67% year-on-year[7] - Net profit attributable to shareholders decreased by 48.34% to CNY 436.17 million compared to the same period last year[7] - The net profit after deducting non-recurring gains and losses was CNY 366.90 million, a decrease of 42.50% year-on-year[7] - Basic earnings per share fell by 57.14% to CNY 0.06[7] - Total operating revenue decreased to ¥1,944,336,176.58 from ¥2,128,920,367.14, representing a decline of approximately 8.67% year-over-year[28] - Net profit decreased to ¥452,682,856.55 from ¥869,722,700.33, reflecting a decline of about 47.96% year-over-year[28] - The total profit decreased to ¥482,698,803.05 from ¥1,097,113,967.67, reflecting a decline of approximately 56.01% year-over-year[28] - The company reported a significant drop in operating profit, which fell to ¥382,303,902.93 from ¥817,754,966.99, a decrease of about 53.24% year-over-year[28] Asset and Liability Changes - Total assets decreased by 2.56% to CNY 225.09 billion compared to the end of the previous year[7] - Total assets decreased from ¥230,994,478,727.07 to ¥225,088,497,652.77, a decline of approximately 2.6%[22] - Total liabilities decreased from ¥178,276,703,702.44 to ¥172,170,241,656.01, a decline of about 3.9%[22] - The company’s total liabilities increased by 39.67% in interest payable, reaching CNY 2,248,762,983.52, reflecting higher debt servicing costs[15] - The company's cash and cash equivalents decreased from ¥28,764,612,592.41 to ¥22,288,169,720.85, a decline of about 22.7%[25] - Client deposits increased from ¥12,863,056,694.59 to ¥16,189,463,632.14, representing a growth of approximately 25.5%[25] - Short-term borrowings decreased from ¥1,521,579,784.01 to ¥1,269,162,716.49, a reduction of about 16.5%[22] - The financial liabilities measured at fair value increased from ¥6,059,726,951.24 to ¥7,166,479,287.76, an increase of approximately 18.3%[22] Income and Expenses - Total net commission and fee income increased by 42.79% to CNY 1,547,696,048.62, primarily due to growth in asset management business[15] - Other business income surged by 520.45% to CNY 222,312,530.38, driven by increased sales of bulk commodities by subsidiaries[15] - Operating expenses increased to ¥1,562,032,273.65 from ¥1,311,165,400.15, an increase of approximately 19.14% year-over-year[28] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 7,828,937,251.32, an improvement from the previous outflow of CNY 11,755,634,285.04[16] - The net cash flow from operating activities for the first quarter of 2018 was -7,828,937,251.32 RMB, an improvement from -11,755,634,285.04 RMB in the same period last year[35] - Cash inflow from investment activities totaled 15,620,710,629.69 RMB, significantly higher than 3,620,167,934.87 RMB in the previous year[36] - The cash outflow for operating activities was 4,158,107,519.82 RMB, down from 7,859,040,306.74 RMB in the same quarter last year[35] - The cash outflow for investment activities was 14,419,072,091.18 RMB, compared to 1,339,547,997.87 RMB in the same period last year[36] - The company experienced a decrease in cash flow from financing activities, with total cash outflow of 4,515,105,075.33 RMB, down from 6,508,476,204.33 RMB year-over-year[36] Shareholder Information - The number of shareholders reached 142,265 at the end of the reporting period[11] - The largest shareholder, Sheneng Group Co., Ltd., held 25.27% of the shares[11] Management Changes - The company appointed new executives, including Mr. Pan Xinjun as the chairman and Mr. Jin Wenzhong as the president, to enhance leadership and strategic direction[17] Market Conditions - The company reported a significant decrease in fair value changes, with a loss of CNY 492,382,105.59 compared to a gain of CNY 558,644,791.94 in the previous period, reflecting market volatility[15] - The company anticipates potential fluctuations in cumulative net profit compared to the previous year, but no significant changes are expected at this time[19]