Lanpec(SH:601798)2017-04-24 16:00Financial Performance - Operating revenue for the period was CNY 83,990,653.33, representing a 22.65% decrease year-on-year[6] - Net profit attributable to shareholders was a loss of CNY 1,606,129.16, a decline of 263.04% compared to the same period last year[6] - Operating profit increased by 66.5%, primarily due to increased revenue from testing technology services with a high profit margin[13] - Non-operating income decreased by 70.88%, mainly due to government compensation received in the same period last year[13] - Non-operating expenses increased by 46.97%, attributed to increased donations made during the period[13] - Income tax expenses decreased by 30.79%, due to the reversal of bad debt provisions and inventory write-down provisions[13] - Net profit decreased by 663.50%, primarily due to government compensation received in the same period last year[13] - Total revenue for Q1 2017 was CNY 83,990,653.33, a decrease of 22.6% compared to CNY 108,586,318.60 in the same period last year[25] - The net profit for Q1 2017 was a loss of CNY 2,066,782.78, compared to a profit of CNY 366,775.85 in Q1 2016[26] - The total comprehensive income for the first quarter of 2017 was -6,338,759.68 RMB, compared to 1,321,838.95 RMB in the previous period[30] - Basic and diluted earnings per share for Q1 2017 were both CNY -0.005, compared to CNY 0.003 in the same period last year[27] - Basic and diluted earnings per share were both -0.018 RMB, down from 0.004 RMB in the previous period[30] Cash Flow - The net cash flow from operating activities improved by 5.18%, amounting to a negative CNY 37,444,109.73[6] - Cash inflow from operating activities was 141,627,681.27 RMB, a decrease from 144,334,774.99 RMB year-over-year[31] - Cash outflow from operating activities totaled 179,071,791.00 RMB, compared to 183,826,246.09 RMB in the previous period[34] - The net cash flow from operating activities was -37,444,109.73 RMB, slightly improved from -39,491,471.10 RMB year-over-year[34] - Cash flow from investing activities resulted in a net outflow of -40,844,695.40 RMB, compared to -25,480,165.66 RMB in the previous period[34] - Cash flow from financing activities generated a net inflow of 53,667,603.55 RMB, up from 6,156,288.89 RMB in the previous period[36] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 3,121,727,167.79, a 0.57% increase compared to the previous year[6] - Total assets as of March 31, 2017, amounted to CNY 3,121,727,167.79, compared to CNY 3,104,083,710.24 at the beginning of the year[19] - Current liabilities totaled CNY 996,246,420.15, a decrease of 10.1% from CNY 1,108,441,945.11 in the previous year[24] - The company's total equity was CNY 1,590,100,409.98, slightly down from CNY 1,596,089,457.37 year-over-year[24] - The total liabilities for Q1 2017 were CNY 1,170,183,965.81, an increase from CNY 1,122,976,358.16 year-over-year[24] Expenses - Sales expenses decreased by 39.36% due to reduced transportation costs from lower product sales[12] - Management expenses rose by 57.4% primarily due to increased R&D project expenditures[12] - The company experienced a significant reduction in sales expenses, which were CNY 7,103,234.30 in Q1 2017, down from CNY 11,714,307.39 in the previous year[26] - The company paid 43,113,006.54 RMB in employee compensation, an increase from 41,719,208.15 RMB in the previous period[34] Investment Activities - The company reported an investment income of CNY 477,235.80 in Q1 2017, compared to no investment income in Q1 2016[26] - Net cash flow from investing activities decreased by 60.30%, primarily due to tax payments related to the acquisition of equity in Shanghai Hetu[13] Borrowings and Payables - The company experienced a 33.29% increase in notes payable due to higher material procurement[12] - Other payables decreased by 86.38% as a result of tax payments related to the acquisition of shares in Shanghai Hetu Engineering Co., Ltd.[12] - Long-term borrowings increased by 100% due to tight liquidity and bank financing needs[12]