Sugon(SH:603019)2015-04-21 16:00Financial Performance - Operating revenue increased by 40.73% to CNY 353,860,417.51 compared to the same period last year[8] - Net profit attributable to shareholders was a loss of CNY 32,768,602.81, an improvement from a loss of CNY 43,568,895.62 in the previous year[8] - The weighted average return on equity improved to -2.81% from -6.27% year-on-year[8] - Basic and diluted earnings per share were both CNY -0.11, an improvement from CNY -0.19 in the previous year[8] - Total operating revenue for Q1 2015 was CNY 353,860,417.51, an increase of 40.7% compared to CNY 251,448,335.74 in the same period last year[30] - Net loss for Q1 2015 was CNY 33,214,832.27, an improvement from a net loss of CNY 43,719,520.75 in Q1 2014[31] - The company reported a total comprehensive income of -¥8,128,012.27 for Q1 2015, slightly better than -¥8,473,950.66 in the previous year[33] Assets and Liabilities - Total assets decreased by 8.17% to CNY 2,682,281,117.14 compared to the end of the previous year[8] - Cash and cash equivalents decreased by 56.14% to ¥248,154,309 due to payments for procurement[15] - Accounts receivable decreased from CNY 570,663,474.64 to CNY 403,638,759.44, a reduction of approximately 29.3%[23] - Inventory increased from CNY 315,435,799.03 to CNY 475,037,819.99, indicating a rise of about 50.7%[23] - Current liabilities decreased from CNY 1,332,377,545.02 to CNY 1,127,120,035.97, a reduction of approximately 15.4%[25] - The company's total liabilities decreased from CNY 1,726,325,728.86 to CNY 1,520,756,586.10, reflecting a decline of about 11.9%[25] - The total equity attributable to shareholders decreased from CNY 1,180,583,509.23 to CNY 1,148,104,623.17, a decrease of approximately 2.7%[25] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 330,267,639.95, worsening from a net outflow of CNY 231,073,303.98 in the previous year[8] - Operating cash flow for Q1 2015 was -¥330,267,639.95, worsening from -¥231,073,303.98 in Q1 2014[34] - Total cash inflow from operating activities was primarily driven by sales revenue, which amounted to 390,614,906.39 RMB, compared to 381,106,780.33 RMB in the previous period, reflecting a growth of about 2%[37] Shareholder Information - The total number of shareholders at the end of the reporting period was 23,399[12] - The top shareholder, Beijing Zhongke Sanyuan Asset Management Co., Ltd., held 22.85% of shares[13] - The company plans to reduce stock holdings by no more than 5% of the total share capital each year within two years after the lock-up period ends[17] - Shareholders must notify the company at least three trading days in advance before implementing any stock reduction[17] Government and Non-Recurring Items - Government subsidies recognized in the current period amounted to CNY 7,815,633.71[9] - The company reported a total of CNY 7,141,619.34 in non-recurring gains and losses[10] Operational Costs and Expenses - Operating costs increased by 45.98% to ¥284,344,564.85 as a result of sales growth and cost recognition[15] - Research and development expenses increased to CNY 32,877,645.14, up 75.2% from CNY 18,768,478.66 in the same period last year[29] Other Financial Metrics - Financial expenses decreased by 31.05% to ¥7,409,489.71 due to reduced loan scale and interest rate cuts[15] - Asset impairment losses surged by 864.25% to ¥5,779,438.23 primarily due to bad debt provisions based on aging[15]