SHBT(SH:603009)2016-04-26 16:00Financial Performance - Operating revenue rose by 20.04% to CNY 192,956,429.56 year-on-year[5] - Net profit attributable to shareholders increased by 34.22% to CNY 15,271,431.94 compared to the same period last year[5] - Basic earnings per share increased by 30.08% to CNY 0.14 per share[5] - Net profit increased by 35.28% to ¥15,946,744.22 driven by higher operating profit and non-operating income[16] - Total operating revenue for Q1 2016 was CNY 192,956,429.56, an increase of 19.96% compared to CNY 160,739,541.84 in the same period last year[37] - Net profit for Q1 2016 reached CNY 15,946,744.22, representing a 35.56% increase from CNY 11,787,803.34 in Q1 2015[37] - Total comprehensive income for Q1 2016 was CNY 15,271,431.94, compared to CNY 11,378,084.54 in the same period last year, indicating a growth of 34.5%[38] Assets and Liabilities - Total assets increased by 2.19% to CNY 1,125,356,879.36 compared to the end of the previous year[5] - The company's total liabilities increased to CNY 580,000,000.00, reflecting a significant rise compared to previous periods[29] - Current assets totaled CNY 580,651,217.26, compared to CNY 567,292,319.81 at the beginning of the year, reflecting a growth of approximately 2.4%[28] - The company's total assets as of March 31, 2016, amounted to CNY 940,653,647.73, compared to CNY 932,119,625.60 at the end of the previous quarter[34] - Total liabilities increased to CNY 513,217,731.66 in Q1 2016, up from CNY 509,599,795.33 in the previous quarter[34] Cash Flow - Cash flow from operating activities showed a significant decline of 104.57%, resulting in a negative cash flow of CNY -4,255,733.39[5] - Cash inflow from borrowings surged by 285.42% to ¥185,000,000.00 reflecting an increase in borrowing scale[18] - Cash flow from operating activities showed a net outflow of CNY 4,255,733.39, a significant decrease from a net inflow of CNY 93,180,997.78 in Q1 2015[44] - Net cash flow from operating activities was -CNY 51,571,146.22, worsening from -CNY 28,846,722.04 year-over-year[45] - The ending cash and cash equivalents balance decreased to CNY 14,636,624.75 from CNY 57,638,233.16, indicating a cash reduction of 74.6%[46] Shareholder Information - The total number of shareholders reached 7,852 at the end of the reporting period[12] - The largest shareholder, Jin Kun, holds 51.21% of the shares, with 14,300,000 shares pledged[12] - The commitment from major shareholders includes a restriction on transferring more than 25% of their shares during their tenure and a 6-month lock-up period post-departure[23] Expenses and Costs - Sales expenses rose by 76.00% to ¥5,791,473.74 as the company intensified marketing efforts[16] - Total operating costs for Q1 2016 were CNY 175,273,604.12, up 20.06% from CNY 145,933,892.58 year-over-year[37] - The company reported a significant increase in sales expenses, which rose to CNY 5,791,473.74 from CNY 3,290,678.66 year-over-year[37] Government Support and Commitments - The company received government subsidies amounting to ¥2,027,892.73, a 277.84% increase compared to the previous period[16] - The company is progressing with a non-public stock issuance project, which has been approved by the China Securities Regulatory Commission[19] - The company will take legal action against any breaches of commitments that result in losses[24] Operational Insights - The company has not disclosed any new product developments or market expansion strategies in this report[4] - The company is primarily engaged in the research, production, and sales of automotive steering gear and shock absorber components[22] - The company aims to minimize related party transactions and ensure they are conducted at fair market prices[24]