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丰林集团(601996) - 2018 Q1 - 季度财报
Fenglin GroupFenglin Group(SH:601996)2018-04-27 16:00

Financial Performance - Operating revenue rose by 12.16% to CNY 290,590,773.13 year-on-year[6] - Net profit attributable to shareholders increased by 9.21% to CNY 23,790,626.68 compared to the same period last year[6] - Basic earnings per share improved by 24.00% to CNY 0.031[6] - Total revenue for Q1 2018 was CNY 290,590,773.13, an increase of 12.2% compared to CNY 259,095,256.90 in the previous period[40] - Operating profit for Q1 2018 was CNY -2,640,695.68, compared to CNY 1,863,206.85 in Q1 2017[44] - Net profit for Q1 2018 was CNY -2,498,832.84, down from CNY 2,474,937.75 in the previous year[46] - The company reported a total profit of CNY -2,498,797.79 for Q1 2018, compared to CNY 2,474,937.75 in Q1 2017[46] - Basic and diluted earnings per share for Q1 2018 were both CNY 0.031, an increase from CNY 0.025 in Q1 2017[42] Cash Flow - Cash flow from operating activities showed a significant improvement, with a reduction in losses from CNY -31,786,437.25 to CNY -21,287,311.80[6] - Net cash flow from operating activities improved by 33% to RMB -21.29 million, attributed to increased sales collections and tax refunds[16] - The net cash inflow from operating activities was -21,287,311.80 RMB, compared to -31,786,437.25 RMB in the previous period, indicating an improvement[48] - Total cash inflow from operating activities was 356,264,874.30 RMB, while cash outflow was 377,552,186.10 RMB, resulting in a net cash flow from operating activities of -21,287,311.80 RMB[48] - The company received tax refunds amounting to 11,999,223.97 RMB, compared to 7,856,115.50 RMB in the previous period[48] Assets and Liabilities - Total assets increased by 6.54% to CNY 2,466,620,500.35 compared to the end of the previous year[6] - Accounts receivable increased by 39% to RMB 128.61 million due to longer customer credit terms during the off-season for engineered wood sales[15] - Construction in progress rose by 31% to RMB 351.12 million, primarily due to increased spending on technological upgrades[15] - Goodwill surged by 411% to RMB 71.00 million as a result of the acquisition of Chizhou Fenglin[15] - Non-current assets decreased by 71% to RMB 17.50 million, mainly due to the completion of the equity transfer of Chizhou Fenglin[15] - Current liabilities totaled CNY 322,582,421.50, an increase of 50.5% from CNY 214,602,252.66 in the previous period[35] - Non-current liabilities reached CNY 212,696,838.71, compared to CNY 198,888,503.13 at the start of the year, marking a rise of 7.5%[35] - Owner's equity totaled CNY 1,931,341,240.14, slightly increasing from CNY 1,901,757,897.77, indicating a growth of 1.6%[35] Investments and Acquisitions - The company completed the acquisition of 100% equity in Anhui Chizhou Fenglin Wood Industry Co., Ltd., previously known as Anhui Dongdun, for a total payment of 178 million yuan, along with a loan of 80 million yuan for technical transformation[27] - The company plans to launch a new production line for engineered wood with an annual capacity of 300,000 cubic meters, with a total investment of RMB 420.09 million[20] - The company plans to raise a total of up to 870.36 million yuan through a non-public offering of shares, with the issuance not exceeding 20% of the total share capital prior to the offering, primarily for the construction of a production line in New Zealand[22] - The maximum number of shares to be issued in the non-public offering has been revised to 191,636,800 shares[23] Shareholder Information - The total number of shareholders reached 32,008 by the end of the reporting period[12] - The largest shareholder, Fenglin International Limited, holds 47.90% of the shares[12] Regulatory and Management Changes - The company appointed a new board secretary, Wang Hao, effective from April 27, 2018[28] - The company has not received any written approval documents from the China Securities Regulatory Commission as of the report date, indicating ongoing regulatory processes[25] - The company received approval from the China Securities Regulatory Commission for its non-public offering application on December 18, 2017[24] Other Financial Metrics - Cash and cash equivalents decreased to CNY 368,922,131.82 from CNY 513,985,409.34, a decline of 28.2%[37] - Inventory rose to approximately 389.83 million yuan, compared to 324.31 million yuan at the beginning of the year, marking an increase of about 20.2%[33] - The company incurred financial expenses of CNY 1,399,558.99 in Q1 2018, compared to CNY 423,655.03 in Q1 2017[41] - Tax expenses for Q1 2018 were CNY 541,064.54, significantly higher than CNY 10,258.91 in the same period last year[41]