SONGFA(SH:603268)2017-04-26 16:00Financial Performance - Operating revenue rose by 73.36% to CNY 95,634,248.43 year-on-year[6] - Net profit attributable to shareholders decreased by 23.55% to CNY 6,840,048.89 compared to the same period last year[6] - Basic earnings per share decreased by 20.00% to CNY 0.08[6] - The weighted average return on equity fell by 27.71% to 1.20%[6] - The net profit after deducting non-recurring gains and losses was CNY 6,731,353.31, a decrease of 15.70% year-on-year[6] - Total revenue for Q1 2017 reached ¥95,634,248.43, a significant increase of 73.5% compared to ¥55,166,110.29 in the same period last year[28] - Net profit for Q1 2017 was CNY 2,484,964.12, a decrease of 66.4% from CNY 7,389,546.21 in Q1 2016[34] - Total profit for Q1 2017 was CNY 3,030,889.12, down 65.0% from CNY 8,669,703.53 in Q1 2016[32] Cash Flow - Net cash flow from operating activities dropped significantly by 92.01% to CNY 1,487,704.44[6] - The net cash flow from operating activities was 1,487,704.44 RMB, a decrease of 92.0% compared to 18,611,371.94 RMB in the previous period[38] - The company reported a total cash outflow from operating activities of 116,366,391.97 RMB, compared to 88,442,974.00 RMB in the previous period[38] - Cash inflow from operating activities was CNY 150,039,469.53 RMB, an increase from 109,068,886.56 RMB in the previous period[41] - The net cash flow from investment activities was -197,361,602.24 RMB, worsening from -92,722,846.38 RMB year-over-year[38] - Cash inflow from financing activities totaled 156,360,000.00 RMB, compared to 20,114,500.00 RMB in the previous period, marking a substantial increase[39] - The net cash flow from financing activities was 134,747,433.18 RMB, up from 19,167,799.49 RMB in the previous period[39] Assets and Liabilities - Total assets increased by 13.30% to CNY 986,205,825.79 compared to the end of the previous year[6] - Cash and cash equivalents decreased by 33.12% from CNY 185,566,346.40 to CNY 124,105,839.69 due to increased investment in fundraising projects and acquisition asset expenditures[12] - Long-term borrowings increased by 67.14% from CNY 42,240,000.00 to CNY 70,600,000.00, due to additional bank loans for acquisitions[12] - Current liabilities amounted to ¥233,531,223.95, which is an increase of 9.7% from ¥212,851,323.83 at the start of the year[25] - Total assets reached ¥796,040,988.52, compared to ¥744,694,835.60 at the beginning of the year, indicating a growth of 6.9%[26] Shareholder Information - The number of shareholders reached 10,765 at the end of the reporting period[10] - The top shareholder, Lin Daofan, holds 29.50% of the shares, totaling 25,960,000 shares[10] Operational Changes - The company is actively pursuing a major asset restructuring plan, with ongoing due diligence and related procedures[16] - The company expects to maintain transparency and timely disclosures regarding the progress of the major asset restructuring during the suspension of trading[16] Other Financial Metrics - Operating costs increased by 75.37% from CNY 36,657,865.05 to CNY 64,288,206.52, driven by the rise in revenue[12] - Investment income decreased by 89.10% from CNY 3,131,289.31 to CNY 341,291.30, attributed to reduced returns from financial investments[13] - Sales expenses for Q1 2017 were CNY 3,778,428.65, up from CNY 2,296,455.33 in Q1 2016, indicating a 64.5% increase[32] - Management expenses for Q1 2017 were CNY 5,772,869.42, compared to CNY 4,651,781.86 in the previous year, reflecting a 24.1% increase[32] - Financial expenses for Q1 2017 were CNY 1,840,065.36, an increase from CNY 1,266,888.19 in Q1 2016, representing a 45.2% rise[32]