Guirenniao(SH:603555)2017-05-03 16:00Financial Performance - Operating revenue for the current period reached CNY 768,250,028.22, representing a growth of 46.46% year-on-year[6] - Net profit attributable to shareholders was CNY 71,452,126.18, down 13.08% from the same period last year[6] - Basic earnings per share were CNY 0.1326, a decrease of 0.90% compared to CNY 0.1338 in the previous year[6] - The company's total revenue from the Guirenniao brand was 420,646,786.13 RMB, a decrease of 19.78% year-on-year, while the gross margin increased by 1.44 percentage points to 44.24%[17] - The total revenue from the multi-brand retail operations of the subsidiary Jiexing reached 66,094,846.78 RMB, contributing to the overall growth of the company[18] - In Q1 2017, the company's total revenue reached RMB 759.94 million, a significant increase from RMB 524.40 million in Q1 2016, representing a growth of 44.93%[26] - Total revenue for Q1 2017 reached ¥768,250,028.22, a 46.5% increase from ¥524,531,059.83 in the same period last year[39] - Net profit for Q1 2017 was ¥95,405,163.30, representing a 16.5% increase compared to ¥82,138,326.45 in Q1 2016[40] Cash Flow and Liquidity - Cash flow from operating activities improved significantly to CNY 33,979,960.07, a turnaround from a negative cash flow of CNY -277,654,345.52 in the previous year, marking an increase of 112.24%[6] - Cash inflow from operating activities surged to RMB 865,785,265.90, a 935.67% increase from RMB 83,596,682.83 in the previous year[15] - The net cash flow from operating activities improved to RMB 33,979,960.07, a 112.24% increase from a negative RMB 277,654,345.52 last year[15] - Cash inflow from operating activities reached ¥865.79 million, a significant increase from ¥83.60 million in the previous year, indicating strong sales performance[45] - The net cash flow from operating activities was ¥33.98 million, a recovery from a negative cash flow of ¥277.65 million in the same period last year[46] - The ending cash and cash equivalents balance was ¥821.24 million, down from ¥779.09 million year-over-year, reflecting a decrease in liquidity[47] Assets and Liabilities - Total assets at the end of the reporting period were CNY 7,766,814,078.57, a decrease of 1.73% compared to the end of the previous year[6] - The company's total assets decreased to ¥6,283,418,190.14 from ¥6,493,651,007.90 year-over-year[37] - The total liabilities of the company as of March 31, 2017, were RMB 4.56 billion, down from RMB 4.79 billion at the start of the year[33] - Current liabilities decreased to ¥1,983,340,965.44 from ¥2,212,643,697.95 in the previous year[36] - Non-current liabilities totaled ¥1,667,328,907.17, down from ¥1,703,312,960.25 in the same period last year[37] - The company's total equity increased to ¥2,632,748,317.53 from ¥2,577,694,349.70 year-over-year[37] Shareholder Information - The total number of shareholders at the end of the reporting period was 11,657[9] - The largest shareholder, Guireniao Group (Hong Kong) Limited, held 77.05% of shares, totaling 484,365,000 shares[10] - The company’s employee stock ownership plan remains unchanged, with 4,234,927 shares held as of March 31, 2017[25] Operational Highlights - Operating costs rose to RMB 473,045,366.02, reflecting a 57.70% increase from RMB 299,960,678.09 year-on-year, primarily due to the addition of new subsidiaries[14] - The operating income from direct stores was 170,040,500.81 RMB, with a gross margin of 39.24%, reflecting an increase of 18.70 percentage points year-on-year[22] - The total number of retail terminals for the Guirenniao brand reached 4,032, with 74 new openings and 148 closures during the reporting period[20] - The online sales channel primarily contributed to revenue growth through the integration of the Mingxieku brand, which was included in the consolidated financial statements starting November 1, 2016[24] - The company has expanded its marketing network to cover all 31 provinces, autonomous regions, and municipalities in China[20] Investment and Financing Activities - The company reported non-operating income of CNY 11,913,681.27, primarily from investment management and government subsidies[7] - Cash received from government subsidies increased significantly to RMB 17,700,605.20, a 1141.06% rise from RMB 1,426,249.77 in the same period last year[14] - The company reported a significant increase in financing activities, with cash outflows totaling 761,346,636.55 RMB, up 202.89% from the previous year[16] - Cash received from borrowings increased by 144.75% to 314,500,000.00 RMB, reflecting the addition of new subsidiaries[16] - The company plans to acquire 100% equity of Weikang Fitness Management Consulting (Shanghai) Co., Ltd., which constitutes a major asset restructuring[27] - The company has registered for a medium-term note issuance of up to RMB 900 million, which has been approved by the shareholders' meeting[26] Future Outlook - The company plans to continue focusing on operational efficiency and cost management to improve future cash flows and profitability[46] - The company has not disclosed any new product developments or market expansion strategies in this report[5]