清源股份(603628) - 2018 Q1 - 季度财报

Important Notice Management Statement The company's management guarantees the accuracy and completeness of this unaudited quarterly report, assuming legal responsibility - The company's management guarantees the truthfulness, accuracy, and completeness of the quarterly report content and assumes legal responsibility[5] - The company's Q1 2018 report is unaudited[5] Company Overview Key Financial Data Q1 2018 saw revenue grow by 26.44% to RMB 136.87 million, while net profit attributable to shareholders fell by 74.86% to RMB 2.73 million Key Financial Indicators for Q1 2018 | Indicator | Current Period (RMB) | Prior Period (RMB) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (RMB) | 136,874,284.63 | 108,249,123.23 | 26.44% | | Net Profit Attributable to Shareholders (RMB) | 2,733,770.80 | 10,874,507.08 | -74.86% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) (RMB) | 579,319.14 | 4,356,385.78 | -86.70% | | Net Cash Flow from Operating Activities (RMB) | -55,916,931.40 | -63,557,672.85 | 12.02% | | Basic Earnings Per Share (RMB/share) | 0.01 | 0.04 | -75.00% | | Total Assets (RMB) | 2,247,212,107.73 | 2,350,400,564.98 (Year-End) | -4.39% (vs. Year-End) | - Total non-recurring gains and losses for the period amounted to RMB 2.15 million, primarily comprising RMB 1.79 million in government subsidies[9][13] Shareholder Information As of the reporting period end, the company had 28,643 shareholders, with top three holding over 63% and significant share pledges - At the end of the reporting period, the company had a total of 28,643 shareholders[12] Top Three Shareholders' Holdings and Pledges | Shareholder Name | Shareholding (%) | Pledged Shares (Number) | | :--- | :--- | :--- | | HONG DANIEL | 39.75 | 40,435,800 | | 王小明 | 15.90 | 27,490,000 | | 王志成 | 7.95 | 14,590,000 | - Shareholders Wang Xiaoming and Wang Zhicheng are cousins of HONG DANIEL, and Wang Xiaoming and Wang Zhicheng are also cousins, indicating related party relationships[14] Preferred Shareholder Information The company had no preferred shares during this reporting period - During the reporting period, the company had no preferred shareholder information[14] Significant Events Analysis of Significant Changes in Key Accounting Items Significant balance sheet changes include prepayments up 87.93%, advances from customers up 405.06%, and other current assets down 62.66% Key Balance Sheet Changes | Item | Period-End Balance (RMB) | Period-Start Balance (RMB) | Change (%) | Primary Reason | | :--- | :--- | :--- | :--- | :--- | | Prepayments | 13,780,337.62 | 7,332,889.59 | 87.93 | Increased prepayments for procurement of materials for overseas bracket business | | Other Current Assets | 98,255,170.73 | 263,124,669.36 | -62.66 | Redemption of bank wealth management products and decrease in input VAT credit | | Advances from Customers | 16,769,311.39 | 3,320,263.19 | 405.06 | Due to new settled but uncompleted projects | | Other Current Liabilities | 969,445.46 | 6,269,231.98 | -84.54 | Impact of output VAT to be transferred for construction contract projects in prior period | | Other Comprehensive Income | -3,733,277.06 | -8,004,016.73 | 53.36 | Impact of foreign currency translation differences | Performance Forecast and Warning The company forecasts a decline in H1 2018 net profit due to significant debt financing and increased finance costs from rising foreign exchange rates - The company expects net profit for H1 2018 to decline compared to the prior year[17] - The primary reasons for the performance decline are expected to be significant debt financing and increased finance costs due to rising foreign exchange rates[16] Appendix Financial Statements This appendix presents the company's unaudited Q1 2018 consolidated and parent company financial statements Consolidated Balance Sheet As of March 31, 2018, total assets were RMB 2.25 billion (down 4.39%), total liabilities RMB 1.28 billion (down 7.53%), and equity RMB 930.90 million Consolidated Balance Sheet Summary (March 31, 2018) | Item | Period-End Balance (RMB) | Year-Start Balance (RMB) | | :--- | :--- | :--- | | Total Assets | 2,247,212,107.73 | 2,350,400,564.98 | | Total Liabilities | 1,278,800,287.48 | 1,382,891,897.47 | | Total Equity Attributable to Parent Company Owners | 930,900,937.86 | 931,802,782.95 | Parent Company Balance Sheet As of March 31, 2018, parent company total assets were RMB 1.50 billion, total liabilities RMB 629.45 million, and owner's equity RMB 865.78 million Parent Company Balance Sheet Summary (March 31, 2018) | Item | Period-End Balance (RMB) | Year-Start Balance (RMB) | | :--- | :--- | :--- | | Total Assets | 1,495,232,556.76 | 1,532,550,110.74 | | Total Liabilities | 629,454,415.85 | 658,430,574.46 | | Total Owner's Equity | 865,778,140.91 | 874,119,536.28 | Consolidated Income Statement Q1 2018 operating revenue grew 26.4% to RMB 136.87 million, but finance costs surged, causing net profit attributable to parent to drop 74.9% to RMB 2.73 million Consolidated Income Statement Summary (Jan-Mar 2018) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Total Operating Revenue | 136,874,284.63 | 108,249,123.23 | | Operating Profit | 4,768,417.27 | 13,005,378.19 | | Total Profit | 5,384,279.40 | 13,563,545.57 | | Net Profit Attributable to Parent Company Shareholders | 2,733,770.80 | 10,874,507.08 | - Finance costs were a key factor impacting profit, with RMB 12.24 million in expenses this period compared to a RMB 2.42 million gain in the prior period, representing a significant change[28] Parent Company Income Statement Q1 2018 parent company net profit turned to a RMB 8.34 million loss from a RMB 15.82 million profit, driven by a sharp revenue decline and surging finance costs Parent Company Income Statement Summary (Jan-Mar 2018) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Operating Revenue | 71,556,274.68 | 217,619,115.79 | | Operating Profit | -8,312,749.62 | 18,355,222.83 | | Net Profit | -8,341,395.37 | 15,824,215.06 | Consolidated Cash Flow Statement Q1 2018 saw RMB 55.92 million net cash outflow from operations, RMB 124.76 million net inflow from investing, and RMB 44.62 million net outflow from financing Consolidated Cash Flow Statement Summary (Jan-Mar 2018) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -55,916,931.40 | -63,557,672.85 | | Net Cash Flow from Investing Activities | 124,756,107.31 | -73,655,055.70 | | Net Cash Flow from Financing Activities | -44,615,691.15 | 371,738,279.18 | | Net Increase in Cash and Cash Equivalents | 24,913,138.94 | 235,730,349.22 | Parent Company Cash Flow Statement Q1 2018 parent company net cash outflow from operations was RMB 67.10 million, net inflow from investing RMB 131.88 million, and net outflow from financing RMB 16.64 million Parent Company Cash Flow Statement Summary (Jan-Mar 2018) | Item | Current Period Amount (RMB) | Prior Period Amount (RMB) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -67,095,265.70 | -165,390,891.78 | | Net Cash Flow from Investing Activities | 131,880,554.76 | -42,943,737.15 | | Net Cash Flow from Financing Activities | -16,636,593.47 | 358,903,635.24 | | Net Increase in Cash and Cash Equivalents | 47,726,692.90 | 151,412,590.66 | Audit Report This quarterly financial report is unaudited - The report explicitly states that the audit report is not applicable as this quarterly report is unaudited[37]