Zhejiang Wansheng (SH:603010)2018-04-27 16:00Financial Performance - Net profit attributable to shareholders was CNY 5,136,299.39, representing a significant decrease of 86.18% year-on-year[6]. - Operating revenue for the period was CNY 281,652,742.82, down 15.48% from CNY 333,248,963.86 in the same period last year[6]. - The weighted average return on equity decreased by 3 percentage points to 0.47%[6]. - Basic earnings per share dropped to CNY 0.02, down 86.67% from CNY 0.15 in the previous year[6]. - The company reported a net loss of CNY 2,952,538.13 for its parent company, compared to a net profit of CNY 21,028,933.94 in the same period last year[32]. - Total comprehensive income for Q1 2018 was CNY 4,420,370.10, compared to CNY 37,153,121.15 in the same period last year, indicating a decline of 88.1%[30]. - Net profit for Q1 2018 was CNY 5,135,887.61, a significant decrease of 86.2% from CNY 37,164,349.80 in the previous year[30]. Cash Flow - The net cash flow from operating activities was negative CNY 50,697,223.59, a decline of 268.80% compared to the previous year[6]. - Cash flow from operating activities showed a net outflow of ¥50,697,223.59, a 268.80% increase in outflow compared to the previous year, attributed to increased inventory[15]. - Total cash inflow from operating activities was ¥287,365,605.43, down from ¥317,813,003.71 in the previous year, indicating a reduction in operational efficiency[35]. - Cash inflow from financing activities reached ¥233,000,000.00, a substantial increase from ¥58,000,000.00 in the prior year, reflecting enhanced borrowing capabilities[36]. - The ending cash and cash equivalents balance increased to ¥241,963,981.69, up from ¥160,988,368.78 in the previous year, showcasing a strong liquidity position[36]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,809,408,765.05, a slight increase of 0.04% compared to the previous year[6]. - Total current assets decreased from ¥745,510,388.75 to ¥712,936,815.74, with significant changes in cash and inventory levels[19]. - Non-current assets totaled CNY 1,096,471,949.31, an increase from CNY 1,063,257,565.50 at the beginning of the year, reflecting a growth of approximately 3.4%[21]. - Current liabilities amounted to CNY 591,433,618.09, slightly down from CNY 594,737,792.17, indicating a decrease of about 0.5%[21]. - The total liabilities decreased to CNY 705,156,476.07 from CNY 708,936,035.37, a reduction of approximately 0.4%[21]. - The equity attributable to shareholders increased to CNY 1,103,950,132.16 from CNY 1,099,529,350.28, reflecting a growth of approximately 0.4%[21]. Inventory and Fixed Assets - Inventory increased by 37.75% to CNY 204,842,157.82, attributed to early stocking by suppliers and increased production capacity[12]. - Fixed assets rose by 50.69% to CNY 447,615,602.52, mainly due to the completion of construction for a new production facility[12]. - The company reported a significant increase in fixed assets from ¥297,041,797.23 to ¥447,615,602.52, indicating ongoing investment in infrastructure[19]. Government Support and Expenses - The company received government subsidies amounting to CNY 1,256,729.59, which are closely related to its normal business operations[6]. - Employee compensation payable decreased by 52.55% to ¥9,582,681.52 due to year-end bonuses issued during the reporting period[13]. - Tax payable decreased by 31.57% to ¥12,135,928.27 primarily due to reduced sales from subsidiaries[13]. - Financial expenses increased by 3640.69% to ¥12,992,602.85 mainly due to exchange rate fluctuations resulting in foreign exchange losses[14]. - The company incurred financial expenses of CNY 7,471,538.51 in Q1 2018, compared to a financial income of CNY 1,221,135.96 in the previous year[31]. Shareholder Information - The number of shareholders at the end of the reporting period was 10,358[9]. - The company plans to initiate a share buyback and cancellation for the original shareholders of Zhangjiagang Dawei Additives Co., Ltd. pending shareholder approval[18].