TORCH ELECTRON(SH:603678)2018-04-19 16:00Financial Performance - Net profit attributable to shareholders increased by 51.82% to CNY 54,913,475.16 year-on-year[6] - Operating revenue rose by 18.70% to CNY 375,828,495.68 compared to the same period last year[6] - Basic and diluted earnings per share increased by 50.00% to CNY 0.12[6] - Total operating revenue for Q1 2018 reached ¥375,828,495.68, an increase of 18.67% compared to ¥316,613,404.88 in the same period last year[30] - Net profit for Q1 2018 was ¥53,877,715.94, representing a 53.66% increase from ¥35,040,903.26 in Q1 2017[31] - Total comprehensive income for Q1 2018 was ¥49,740,899.27, compared to ¥34,368,231.12 in Q1 2017, indicating a growth of 44.93%[32] Assets and Liabilities - Total assets increased by 2.15% to CNY 3,384,649,985.88 compared to the end of the previous year[6] - Current assets increased to ¥2,325,308,402.93 from ¥2,299,600,342.25, representing a growth of approximately 1.2%[23] - Non-current assets totaled ¥1,059,341,582.95, up from ¥1,013,868,293.62, indicating an increase of about 4.5%[24] - Total liabilities rose to ¥778,240,274.11 from ¥759,563,306.19, an increase of approximately 2.0%[25] - Total equity increased to ¥2,606,409,711.77 from ¥2,553,905,329.68, reflecting a growth of about 2.1%[25] Cash Flow - The net cash flow from operating activities decreased by 370.76% to -CNY 55,653,509.09 compared to the previous year[6] - Cash generated from operating activities in Q1 2018 amounted to ¥449,946,241.55, an increase from ¥373,677,625.56 in Q1 2017[37] - The net cash flow from operating activities was -55,653,509.09 RMB, a decrease compared to 20,554,554.04 RMB in the previous period, indicating a decline in operational performance[38] - Cash inflow from investment activities totaled 665,094,861.15 RMB, significantly higher than 363,059,525.00 RMB in the prior period, reflecting increased investment recovery[38] - The net cash flow from financing activities was 106,383,821.51 RMB, a substantial improvement from -57,019,496.28 RMB in the previous year, showing better financing conditions[39] Expenses and Costs - Management expenses increased by 54.40% to ¥38,207,432.64, driven by expanded workforce and higher R&D costs[14] - Total operating costs for Q1 2018 were ¥316,968,278.03, up 11.65% from ¥283,880,411.78 in Q1 2017[31] - The company incurred asset impairment losses of ¥3,481,643.26 in Q1 2018, compared to a gain of ¥2,232,603.79 in Q1 2017[31] - The company’s tax expenses for Q1 2018 were ¥13,176,183.75, compared to ¥7,967,400.54 in the same period last year, marking a 65.00% increase[31] Investments and Acquisitions - Investment income grew by 112.71% to ¥8,077,827.84, due to investments made by subsidiaries Liyah New Materials and Suzhou Leidu[14] - The company acquired 60% of Guangzhou Tianji Electronic Technology Co., Ltd. for ¥44.1 million, enhancing its position in the microwave component market[19] - A new wholly-owned subsidiary, Shenzhen Leidu Electronics Co., Ltd., was established with a registered capital of ¥25 million[18] Shareholder Information - The number of shareholders reached 8,707 at the end of the reporting period[10] - The company’s actual controller increased his shareholding by acquiring 2,099,150 shares for ¥50,115,493.48, raising his stake to 6.49%[18] Other Financial Metrics - The weighted average return on equity increased by 0.61 percentage points to 2.15%[6] - Non-recurring gains and losses included a government subsidy of CNY 299,372.12 and investment management gains of CNY 8,077,827.84[6] - Deferred income rose by 32.27% to ¥3,909,226.44, mainly due to increased government subsidies recognized as deferred income[13] - Revenue-related taxes and surcharges surged by 223.64% to ¥2,935,556.34, attributed to increased revenue and property tax after factory conversion[14]