SITONG(SH:603838)2016-04-27 16:00Financial Performance - Operating revenue for the period was ¥106,954,598.88, a decrease of 5.13% year-on-year[6] - Net profit attributable to shareholders of the listed company was ¥14,496,045.82, down 1.23% from the previous year[6] - Basic earnings per share decreased by 31.25% to ¥0.11 compared to ¥0.16 in the same period last year[6] - The company reported a net profit margin improvement due to cost control measures implemented during the quarter[29] - The company's operating revenue for Q1 2016 was CNY 104,954,304.67, a decrease of 5.3% compared to CNY 111,415,397.94 in the previous year[33] - The net profit for Q1 2016 was CNY 11,156,531.70, down 21.4% from CNY 14,184,571.06 in the same period last year[34] - The total profit for Q1 2016 was CNY 13,113,607.72, a decline of 9.3% compared to CNY 14,451,510.12 in the previous year[33] - The total comprehensive income for Q1 2016 was CNY 11,156,531.70, compared to CNY 14,184,571.06 in the previous year, showing a decline in overall profitability[34] Cash Flow - Cash flow from operating activities showed a net outflow of ¥13,699,710.97, worsening by 25.67% compared to the previous year[6] - The net cash flow from operating activities was -¥14,816,522.21, compared to -¥8,874,465.91 in the previous period, indicating a decline in operational performance[38] - Total cash inflow from operating activities was ¥80,134,501.18, down from ¥115,563,769.21, reflecting a decrease of approximately 30.7% year-over-year[38] - Cash outflow from operating activities totaled ¥94,951,023.39, compared to ¥124,438,235.12 in the previous period, showing a reduction of about 23.6%[38] - The net cash flow from investing activities was -¥29,483,506.00, significantly worse than -¥1,536,536.00 in the prior period[39] - The total cash and cash equivalents at the end of the period were ¥235,114,614.74, down from ¥52,505,491.78, reflecting a significant decrease in liquidity[39] - The company experienced a net decrease in cash and cash equivalents of -¥44,028,101.54, compared to -¥19,721,666.09 in the previous period[39] Shareholder Information - The total number of shareholders at the end of the reporting period was 13,867[10] - The top shareholder, Cai Zhancheng, held 12,868,440 shares, representing 9.65% of the total shares[10] - The company plans to distribute cash dividends of RMB 1.30 per 10 shares, totaling RMB 17.33 million, pending approval at the annual shareholders' meeting[16] - The company has a lock-up period for shareholders, preventing them from selling shares for two years post-IPO[17] Asset Management - Total assets at the end of the reporting period reached ¥732,657,731.14, an increase of 0.69% compared to the end of the previous year[6] - The company's financial assets measured at fair value increased to RMB 27 million, primarily due to investments in Shenzhen Qianhai Sitong Jiade Industrial Acquisition Fund (Limited Partnership)[12] - Other receivables decreased by 36.69% to RMB 2.86 million, mainly due to a reduction in export tax refunds[12] - Construction in progress decreased by 48.17% to RMB 2.12 million, attributed to the completion of the mud pool construction project during the reporting period[12] - Prepayments decreased by 35.00% to RMB 5.66 million, primarily due to a reduction in customer advance payments[12] - Employee compensation payable decreased by 45.68% to RMB 4.93 million, mainly due to the payment of last year's annual bonuses[12] - Other payables decreased by 41.52% to RMB 867,486, mainly due to a reduction in advertising expenses[12] Tax and Expenses - Income tax expenses increased by 257.70% to RMB 2.64 million, mainly due to the adjustment of deferred tax assets and liabilities[13] - The company experienced a tax expense of CNY 1,957,076.02 in Q1 2016, significantly higher than CNY 266,939.06 in the previous year, impacting net income[33] - The company reported a 139.20% increase in asset impairment losses to RMB 1.75 million, primarily due to an increase in bad debt provisions[13] - The company reported an asset impairment loss of CNY 3,409,702.23 for Q1 2016, compared to CNY 763,603.17 in the previous year, reflecting increased asset risk[33] Strategic Commitments - The company has not disclosed any new product developments or market expansion strategies in this report[6] - The company has pledged to not engage in any competitive business activities that may conflict with its main operations[18] - The company anticipates a potential significant change in net profit compared to the same period last year, but specific figures are not applicable at this time[19] - The company has established a commitment to prioritize investment opportunities for its main business over any competitive ventures[18] - The company has outlined a long-term commitment to avoid conflicts of interest with its controlling shareholders[18] - The company has made commitments to ensure that its actions do not lead to financial losses for public shareholders[19] - The financial statements as of March 31, 2016, are unaudited and presented in RMB[20]