麦迪科技(603990) - 2017 Q1 - 季度财报

I. Important Notice 1.1 Statement on Authenticity of Quarterly Report by Board of Directors, Supervisory Board, Directors, Supervisors, and Senior Management The company's Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of this unaudited Q1 2017 report, assuming full legal responsibility - Company management ensures the truthfulness, accuracy, and completeness of this quarterly report and assumes legal responsibility[4] - The company's Q1 2017 report is unaudited[4] II. Company Profile 2.1 Key Financial Data In Q1 2017, the company achieved operating revenue of 33.0768 million yuan, a year-on-year increase of 13.38%, while net profit attributable to shareholders of the listed company was -3.1650 million yuan, with losses expanding year-on-year; total assets at period-end were 578.1337 million yuan, a 16.25% decrease from the end of the prior year, and net cash flow from operating activities was -33.4236 million yuan Key Financial Data for Q1 2017 | Indicator | Current Period | Prior Year Same Period | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (Yuan) | 33,076,790.86 | 29,174,589.95 | 13.38% | | Net Profit Attributable to Shareholders of Listed Company (Yuan) | -3,165,002.47 | -1,788,115.60 | N/A | | Net Cash Flow from Operating Activities (Yuan) | -33,423,590.90 | -32,786,913.50 | N/A | | Basic EPS (Yuan/Share) | -0.04 | -0.03 | N/A | | Indicator | End of Current Period | End of Prior Year | Period-end vs. Year-start Change (%) | | Total Assets (Yuan) | 578,133,711.35 | 690,343,149.99 | -16.25% | | Net Assets Attributable to Shareholders of Listed Company (Yuan) | 391,803,345.00 | 394,970,957.82 | -0.80% | - During the reporting period, non-recurring gains and losses amounted to 1.3062 million yuan, primarily from government grants[8] 2.2 Total Number of Shareholders, Top Ten Shareholders, and Top Ten Circulating Shareholders (or Unrestricted Shareholders) at Period-End As of the end of the reporting period, the company had 8,336 shareholders, with the top ten shareholders holding a relatively high combined stake, including the largest shareholder Weng Kang holding 24.66%, and some top ten shareholders having pledged shares - As of the end of the reporting period, the company had 8,336 shareholders[10] Top Five Shareholders' Shareholding Information | Shareholder Name | Shareholding Percentage (%) | Number of Shares Held at Period End | Number of Restricted Shares | Pledged or Frozen Status | | :--- | :--- | :--- | :--- | :--- | | Weng Kang | 24.66 | 19,728,000 | 19,728,000 | Pledged 12,000,000 | | WI Harper INC Fund VI Ltd | 13.25 | 10,602,000 | 10,602,000 | None | | JAFCO ASIA TECHNOLOGY FUND IV | 11.40 | 9,120,000 | 9,120,000 | None | | Suzhou Maidi Meichuang Investment Management Co., Ltd. | 6.52 | 5,214,000 | 5,214,000 | Pledged 2,924,600 | | Wang Jianhua | 6.46 | 5,166,000 | 5,166,000 | Pledged 3,655,700 | III. Significant Events 3.1 Significant Changes and Reasons for Key Financial Statement Items and Indicators During the reporting period, significant financial changes included a 63.59% decrease in cash due to investments and debt repayment, a 75.44% reduction in long-term borrowings, a 52.50% decline in operating costs from product mix shifts, and increases of 34.85% and 50.38% in selling and administrative expenses respectively, driven by market and R&D activities - Cash and cash equivalents decreased by 63.59% from the beginning of the year, primarily used for purchasing 70 million yuan in wealth management products and repaying 71.1624 million yuan in bank loans[12] - Long-term borrowings and non-current liabilities due within one year decreased by 75.44% and 74.37% respectively from the beginning of the year, primarily due to repayment of bank loans[13][14] - Operating costs decreased by 52.50% year-on-year, mainly because projects accepted in the current period primarily consisted of higher-margin self-developed software and operation and maintenance services[14] - Selling expenses and administrative expenses increased by 34.85% and 50.38% year-on-year respectively, primarily due to increased market promotion, R&D expenses, employee compensation, and depreciation[14] - Cash paid for debt repayment increased by 351.52% year-on-year, mainly for repaying bank loans[16] 3.2 Analysis and Explanation of Progress, Impact, and Solutions for Significant Matters During the reporting period, the company had no significant matters requiring disclosure, no overdue unfulfilled commitments, and no forecast of cumulative net profit being a loss or undergoing significant changes from the beginning of the year to the end of the next reporting period - No significant matter progress, overdue unfulfilled commitments, or earnings warnings required disclosure during the reporting period[17][18] IV. Appendix 4.1 Financial Statements This appendix includes the company's unaudited consolidated and parent company financial statements for Q1 2017, comprising the balance sheet, income statement, and cash flow statement Consolidated Balance Sheet As of March 31, 2017, the company's total assets were 578.1337 million yuan, a 16.25% decrease from the beginning of the year; total liabilities were 186.3304 million yuan, a 36.92% decrease; and total equity attributable to parent company owners was 391.8033 million yuan, a slight decrease of 0.80%, with asset decline mainly due to reduced cash and cash equivalents, and liability decline mainly due to debt repayment Key Items from Consolidated Balance Sheet (Unit: Yuan) | Item | Period-end Balance | Year-start Balance | | :--- | :--- | :--- | | Total Assets | 578,133,711.35 | 690,343,149.99 | | Total Liabilities | 186,330,366.35 | 295,372,192.17 | | Total Equity Attributable to Parent Company Owners | 391,803,345.00 | 394,970,957.82 | Parent Company Balance Sheet As of March 31, 2017, the parent company's total assets were 587.9175 million yuan, total liabilities were 216.0793 million yuan, and total owner's equity was 371.8381 million yuan, with trends largely consistent with the consolidated statements Key Items from Parent Company Balance Sheet (Unit: Yuan) | Item | Period-end Balance | Year-start Balance | | :--- | :--- | :--- | | Total Assets | 587,917,454.47 | 698,382,228.50 | | Total Liabilities | 216,079,332.45 | 324,881,539.26 | | Total Owner's Equity | 371,838,122.02 | 373,500,689.24 | Consolidated Income Statement In Q1 2017, the company achieved total operating revenue of 33.0768 million yuan, a 13.38% year-on-year increase, but due to increased total operating costs (especially selling and administrative expenses), operating profit was -8.9922 million yuan, and net profit attributable to parent company owners was -3.1650 million yuan, an expansion of loss compared to -1.7881 million yuan in the prior year Key Items from Consolidated Income Statement (Unit: Yuan) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | I. Total Operating Revenue | 33,076,790.86 | 29,174,589.95 | | II. Total Operating Costs | 42,465,415.97 | 40,595,095.80 | | III. Operating Profit | -8,992,207.30 | -11,420,505.85 | | V. Net Profit | -3,165,002.47 | -1,788,115.60 | | Net Profit Attributable to Parent Company Owners | -3,165,002.47 | -1,788,115.60 | Parent Company Income Statement In Q1 2017, the parent company achieved operating revenue of 32.5754 million yuan and a net profit of -1.6600 million yuan, significantly narrowing its loss compared to -4.2000 million yuan in the prior year Key Items from Parent Company Income Statement (Unit: Yuan) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | I. Operating Revenue | 32,575,384.72 | 28,995,255.64 | | II. Operating Profit | -7,479,598.84 | -14,020,884.02 | | IV. Net Profit | -1,659,957.00 | -4,200,024.24 | Consolidated Cash Flow Statement In Q1 2017, the company's net cash flow from operating activities was -33.4236 million yuan, net cash outflow from investing activities was 75.2929 million yuan due to wealth management product purchases, and net cash outflow from financing activities was 74.2803 million yuan due to debt repayment, resulting in a net decrease of 182.9968 million yuan in cash and cash equivalents during the period Consolidated Cash Flow Statement Summary (Unit: Yuan) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -33,423,590.90 | -32,786,913.50 | | Net Cash Flow from Investing Activities | -75,292,945.15 | -8,770,801.36 | | Net Cash Flow from Financing Activities | -74,280,308.84 | -13,892,232.82 | | Net Increase/Decrease in Cash and Cash Equivalents | -182,996,844.89 | -55,449,947.68 | Parent Company Cash Flow Statement In Q1 2017, the parent company's cash flows from operating, investing, and financing activities were all net outflows, amounting to -25.3314 million yuan, -75.2929 million yuan, and -81.3679 million yuan respectively, leading to a net decrease of 181.9922 million yuan in cash and cash equivalents during the period, consistent with consolidated statement trends Parent Company Cash Flow Statement Summary (Unit: Yuan) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -25,331,371.93 | -28,114,711.43 | | Net Cash Flow from Investing Activities | -75,292,945.15 | -8,770,801.36 | | Net Cash Flow from Financing Activities | -81,367,874.67 | -18,725,863.26 | | Net Increase/Decrease in Cash and Cash Equivalents | -181,992,191.75 | -55,611,376.05 | 4.2 Audit Report The company explicitly states that this quarterly financial report is unaudited - This quarterly report is unaudited[38]