Zhejiang Wansheng (SH:603010)2017-04-20 16:00Financial Performance - Total revenue for Q1 2017 reached CNY 333,248,963.86, an increase of 25.96% compared to CNY 264,573,193.57 in Q1 2016[7] - Net profit attributable to shareholders was CNY 37,164,571.13, reflecting a growth of 16.20% from CNY 31,982,268.80 in the same period last year[7] - Operating profit for Q1 2017 was CNY 42,589,955.41, up from CNY 38,476,804.51, reflecting a growth of approximately 5.8%[33] - The company reported a gross profit margin of approximately 14.5% for Q1 2017, compared to 14.3% in the same quarter of the previous year[33] - Net profit for the current period was ¥21,028,933.94, representing a 47.5% increase compared to ¥14,221,815.49 in the same period last year[37] Assets and Liabilities - The company's total assets increased by 5.56% to CNY 1,483,924,642.24 from CNY 1,405,719,934.69 at the end of the previous year[7] - Total assets as of March 31, 2017, amounted to CNY 1,214,545,831.56, up from CNY 1,153,823,892.13 at the beginning of the year, indicating a growth of approximately 5.3%[30] - The company's total liabilities increased to ¥393,027,269.38 from ¥351,975,682.98, reflecting a rise in short-term borrowings[26] - Total liabilities increased to CNY 310,075,794.23 from CNY 270,382,788.74, representing a rise of about 14.7%[30] Cash Flow - The net cash flow from operating activities showed a significant decline, with a net outflow of CNY 13,746,480.49 compared to a net inflow of CNY 13,912,548.21 in the previous year, marking a decrease of 198.81%[7] - Cash flow from financing activities increased by 323.56% to ¥55,883,363.73, mainly due to increased borrowings during the reporting period[19] - The net cash flow from investing activities also saw a substantial decrease of 539.72%, amounting to -¥54,485,381.98, due to investments in new production capacities[18] - Cash flow from investing activities totaled -$67,739,304.69, indicating a significant outflow[44] Shareholder Information - The number of shareholders at the end of the reporting period was 8,704, indicating a stable shareholder base[11] - The company’s basic earnings per share remained stable at CNY 0.15, unchanged from the previous year[7] - Basic and diluted earnings per share for Q1 2017 remained at CNY 0.15, unchanged from the previous year[34] Operational Highlights - The company reported a significant increase in construction in progress, which rose by 39.17% to CNY 160,416,088.74, attributed to the investment in a new production line for special fatty amines[15] - Operating costs increased by 30.24% to ¥254,075,631.89 from ¥195,075,535.08, mainly due to the rise in operating revenue[17] - The company received government subsidies amounting to CNY 3,286,816.51, which are closely related to its normal business operations[7] Investment Activities - The company is in the process of a major asset restructuring, having signed a framework agreement with the target company, Xiangxin Zhiben (Shanghai) Technology Co., Ltd., to acquire Analogix Semiconductor Inc.[20] - The company incurred operating costs of ¥110,910,621.59, which is a 46.9% increase from ¥75,395,612.12 in the previous period[36] Cash and Cash Equivalents - The company’s cash and cash equivalents decreased to CNY 159,954,044.41 from CNY 183,608,407.37, a decline of about 12.9%[28] - Cash and cash equivalents at the end of the period totaled ¥160,988,368.78, down from ¥226,735,968.36 at the end of the previous period[41] - The ending balance of cash and cash equivalents was $56,515,715.64, down from $78,246,407.37 at the beginning of the period[44]