Zhuzhou Kibing (SH:601636)2015-04-24 16:00Financial Performance - Net profit attributable to shareholders decreased by 37.78% to CNY 27,713,254.44, compared to CNY 44,543,854.80 in the same period last year[7]. - Operating revenue declined by 10.73% to CNY 740,679,819.02 from CNY 829,724,747.22 year-on-year[7]. - Basic and diluted earnings per share fell by 46.75% to CNY 0.041 from CNY 0.077 in the same period last year[7]. - The weighted average return on net assets decreased by 0.84 percentage points to 0.85%[7]. - The company reported a significant increase in inventory, which rose to ¥1,314,450,509.93 from ¥1,264,527,282.84, an increase of approximately 3.9%[25]. - The company reported a total comprehensive income of ¥34,338,793.73 for Q1 2015, down from ¥53,639,423.40 in the same period last year, a decrease of 36.0%[35]. - Net profit for Q1 2015 was ¥34,306,807.03, a decline of 35.7% from ¥53,381,002.37 in Q1 2014[34]. Cash Flow - Cash flow from operating activities dropped significantly by 91.06% to CNY 22,623,158.12 compared to CNY 252,967,541.41 in the previous year[7]. - Cash inflow from operating activities was ¥585,021,624.05, down from ¥747,763,347.57 in Q1 2014, indicating a decline of 21.7%[39]. - The net cash flow from operating activities was 22,623,158.12 RMB, a decrease of 91.06% compared to the previous period's 252,967,541.41 RMB[40]. - The total cash outflow from operating activities was 562,398,465.93 RMB, an increase from 494,795,806.16 RMB in the previous period[40]. - The total cash inflow from financing activities reached 1,998,024,000.00 RMB, an increase from 1,279,000,000.00 RMB in the previous period[40]. - The net cash flow from financing activities for the parent company was 1,252,043,552.52 RMB, compared to a negative cash flow of -11,218,927.79 RMB in the previous period[43]. Assets and Liabilities - Total assets increased by 13.30% to CNY 10,544,655,900.46 compared to the end of the previous year[7]. - Total current assets increased to ¥3,554,213,142.54 from ¥2,386,789,523.82, representing a growth of approximately 48.7%[25]. - Total non-current assets amounted to ¥6,990,442,757.92, slightly up from ¥6,920,343,260.50, indicating a growth of approximately 1%[26]. - Total liabilities decreased to ¥5,219,231,135.38 from ¥5,302,158,930.57, a reduction of approximately 1.6%[27]. - The company’s total liabilities increased, with a notable rise in accounts payable by 54.86% to RMB 334,610,872.47, reflecting a strategy to manage cash flow through increased use of acceptance bills[15]. - Short-term borrowings decreased to ¥1,145,000,000.00 from ¥1,181,000,000.00, a decline of approximately 3.0%[26]. Shareholder Information - The total number of shareholders reached 21,192 at the end of the reporting period[12]. - The largest shareholder, Fujian Qibin Group Co., Ltd., holds 40.10% of the shares, with 336,500,000 shares pledged[12]. - The second-largest shareholder, Yu Qibing, owns 19.19% of the shares, also with 161,000,000 shares pledged[12]. Future Outlook and Plans - The company plans to continue its market expansion and product development following the successful acquisition of Shaoxing Qibin Glass Co., Ltd.[18]. - The company has committed to distributing at least 10% of its distributable profits as cash dividends in the next three years, contingent on sufficient cash flow and profitability[20]. - The company has indicated potential changes in net profit for the upcoming reporting period, with a warning of possible losses or significant fluctuations compared to the previous year[24]. Other Financial Metrics - The company reported non-recurring gains and losses totaling CNY 6,593,552.59 for the period[10]. - Cash and cash equivalents increased by 123.64% to RMB 1,964,082,415.81 from RMB 878,250,699.35 due to funds raised from a private placement[14]. - Accounts receivable increased significantly, reflecting higher customer payments during the reporting period[15]. - Other receivables rose by 36.95% to RMB 12,214,870.95, primarily due to an increase in utility fees receivable[15]. - The company reported a 71.89% increase in non-operating income, totaling RMB 11,196,703.84, attributed to relocation compensation received[16]. - Cash paid for purchasing goods and services increased by 34.44% to RMB 390,040,937.02, driven by higher raw material procurement due to increased production capacity[17]. - The company successfully raised RMB 1,280,554,000.00 through a private placement of 17,967,000 shares at RMB 7.20 per share, aimed at acquiring Shaoxing Qibin Glass Co., Ltd.[18].