Qijing Machinery(SH:603677)2017-04-21 16:00Financial Performance - Operating revenue for the period was CNY 282,633,071.11, representing a 9.72% increase year-on-year[12] - Net profit attributable to shareholders increased by 8.17% to CNY 18,457,454.36 compared to the same period last year[12] - Net profit attributable to shareholders after deducting non-recurring gains and losses increased by 11.97% to CNY 18,330,594.97[12] - Total operating revenue for Q1 2017 was RMB 282,633,071.11, an increase of 9.7% compared to RMB 257,594,800.09 in the same period last year[31] - Total profit for Q1 2017 was RMB 24,713,837.52, an increase of 7.4% from RMB 23,013,391.67 in the same quarter last year[32] - Net profit attributable to shareholders for Q1 2017 was RMB 18,457,454.36, a rise of 8.2% compared to RMB 17,063,996.72 in the previous year[32] Assets and Liabilities - Total assets increased by 34.48% to CNY 1,219,084,476.54 compared to the end of the previous year[12] - Current assets rose to CNY 895,135,936.45, compared to CNY 585,827,169.33 at the start of the year, marking an increase of about 52.8%[24] - Total liabilities decreased to CNY 358,844,048.56 from CNY 449,470,681.13, a reduction of approximately 20.2%[26] - Shareholders' equity increased to CNY 860,240,427.98, compared to CNY 457,016,972.51 at the beginning of the year, representing a growth of about 88.1%[26] Cash Flow - The net cash flow from operating activities was negative at CNY -50,581,691.10, a decrease of 216.82% compared to the same period last year[12] - Cash flow from operating activities in Q1 2017 was RMB 205,236,001.80, a decrease of 31.3% from RMB 298,884,767.42 in Q1 2016[38] - The net cash flow from operating activities was -50,581,691.10 RMB, compared to a positive cash flow of 43,300,454.68 RMB in the previous period, indicating a significant decline in operational performance[39] - Total cash inflow from financing activities amounted to 487,657,000.00 RMB, with a net cash flow of 284,079,517.38 RMB after outflows, compared to a negative cash flow of -58,159,030.42 RMB in the previous period[40] Shareholder Information - The total number of shareholders reached 10,566 by the end of the reporting period[15] - The largest shareholder, Ningbo Qijing Holdings Co., Ltd., holds 52.50% of the shares[15] Investment Activities - The company raised ¥399,457,000.00 from its initial public offering, with a net amount of ¥382,498,000.00 after deducting issuance costs[17] - The company plans to use ¥12,176.10 million of raised funds to replace self-raised funds for investment projects and ¥7,249.80 million to repay bank loans[18] - The company’s investment cash outflow increased significantly by 17,702.14% to ¥-185,966,766.62, mainly due to the purchase of bank wealth management products with idle raised funds[16] - The total cash outflow from investing activities was 189,972,666.62 RMB, significantly higher than 6,277,431.78 RMB in the previous period, suggesting increased investment expenditures[39] Financial Ratios and Metrics - The weighted average return on equity decreased by 1.79 percentage points to 2.55%[12] - Basic and diluted earnings per share decreased by 10.71% to CNY 0.25[12] - The company’s financial expenses decreased by 44.50% to ¥2,045,147.16, mainly due to reduced bank borrowings[16] - Earnings per share for Q1 2017 were RMB 0.25, down from RMB 0.28 in Q1 2016[33] Other Financial Information - The company has fully provided for bad debts related to ongoing litigation, which will not negatively impact current or future operating performance[20] - The company experienced an asset impairment loss of RMB 1,074,497.98 in Q1 2017, compared to a gain of RMB 2,995,278.84 in Q1 2016[32] - The company paid 187,300,000.00 RMB in debt repayment, which is significantly higher than 84,000,000.00 RMB in the previous period, indicating increased debt servicing[40]