ZOY(SH:603709)2018-04-26 16:00Financial Performance - Operating revenue decreased by 3.81% to CNY 171,036,117.84 compared to the same period last year[6] - Net profit attributable to shareholders decreased by 45.10% to CNY 5,544,217.90 compared to the same period last year[6] - Gross margin declined by approximately 4.14% due to rising costs of raw materials such as sponge, cardboard, and wood[6] - The weighted average return on equity decreased by 5.64 percentage points to 1.90%[6] - The company's net profit decreased by 45.10% compared to the previous year, attributed to increased exchange losses and rising raw material prices[19] - Financial expenses surged by 490.53% year-over-year, primarily due to increased exchange losses in the first quarter of 2018[19] - The total profit for Q1 2018 was CNY 6,072,863.00, a decline of 50.73% from CNY 12,349,398.80 in Q1 2017[30] - The net profit for Q1 2018 was CNY 5,544,217.90, down 45.00% from CNY 10,098,341.71 in the same period last year[30] - The basic and diluted earnings per share for Q1 2018 were both CNY 0.08, compared to CNY 0.17 in the previous year, reflecting a 52.94% decrease[31] - The total comprehensive income for Q1 2018 was CNY 5,532,392.08, a decrease of 45.00% from CNY 10,098,341.71 in the previous year[31] Cash Flow and Liquidity - Cash flow from operating activities showed a significant decline of 1,454.07% to -CNY 19,532,483.52 compared to the same period last year[6] - The cash flow from operating activities for Q1 2018 was negative at CNY -19,532,483.52, compared to a positive CNY 1,442,497.28 in the previous year[36] - The net cash flow from operating activities for Q1 2018 was -23,563,541.38 RMB, compared to -3,845,061.26 RMB in the same period last year, indicating a decline in operational performance[38] - The total cash outflow from operating activities increased to 236,542,029.19 RMB, compared to 194,748,315.60 RMB in the previous year, representing a rise of about 21.4%[38] - The cash inflow from operating activities totaled CNY 212,997,217.23, an increase of 11.58% from CNY 190,905,314.36 in the previous year[36] - The company experienced a net increase in cash and cash equivalents of 315,444,560.09 RMB during the quarter, contrasting with a decrease of 47,635,883.32 RMB in the same quarter last year[39] - The total cash and cash equivalents at the end of the period increased to 409,846,320.31 RMB, compared to 77,546,020.05 RMB at the end of the previous year, marking a significant increase[39] Assets and Liabilities - Total assets increased by 73.70% to CNY 801,244,709.71 compared to the end of the previous year[6] - Net assets attributable to shareholders increased by 208.05% to CNY 528,257,325.67 compared to the end of the previous year[6] - Current assets increased to CNY 625,149,016.66 from CNY 288,131,078.44, representing a growth of 117.7%[25] - Total liabilities decreased to CNY 272,987,384.04 from CNY 289,796,073.90, a reduction of 5.8%[23] - The total equity attributable to shareholders increased significantly to CNY 528,257,325.67 from CNY 171,483,233.59, a growth of 207.5%[23] - The company's long-term deferred expenses increased by 152.26% year-over-year, due to the completion of factory renovations and other projects[15] Operational Changes - The company relocated its sofa manufacturing workshop, impacting production capacity and sales revenue[8] - The company plans to adjust product prices in response to rising costs, with expected positive impacts reflected in the second quarter report[8] Foreign Exchange and Financial Products - The exchange rate of RMB against USD appreciated by 3.38%, affecting the company's performance due to its reliance on foreign sales[8] - Cash inflow from investment activities was 110,183,731.22 RMB, down from 201,465,649.32 RMB year-over-year, indicating a decrease of approximately 45.4%[39] - The cash received from investment decreased by 60.54% year-over-year, due to a reduction in investment financial products[19] - The company's cash received from tax refunds increased by 60.73% year-over-year, mainly due to an increase in export tax rebates[19] Cost Management - The cash paid for purchasing goods and services rose by 33.36% compared to the previous year, attributed to shortened payment terms with suppliers[19] - The company reported a decrease in sales expenses to CNY 18,880,071.35 from CNY 22,515,158.34, a reduction of 16.00%[30]