MEDITECH(SH:603990)2018-04-27 16:00Financial Performance - Operating revenue increased by 9.98% to CNY 36,379,413.40 year-on-year[6] - Net profit attributable to shareholders was a loss of CNY 7,121,798.25, compared to a loss of CNY 4,477,171.76 in the same period last year[6] - Total revenue for Q1 2018 was CNY 36,379,413.40, an increase of 6.98% from CNY 33,076,790.86 in the previous year[32] - Net loss for Q1 2018 was CNY 4,907,314.78, compared to a net loss of CNY 3,165,002.47 in Q1 2017, representing a deterioration of 55%[33] - The company reported a net profit of -774,704.04 RMB for Q1 2018, compared to -1,659,957.00 RMB in the same period last year, indicating an improvement of approximately 53.4% year-over-year[36] Asset Management - Total assets decreased by 4.05% to CNY 601,125,235.76 compared to the end of the previous year[6] - Cash and cash equivalents increased by 57.78% to CNY 46,389,900.00, mainly due to the redemption of financial products and structured deposits[12] - Accounts receivable decreased by 83.52% to CNY 3,040,000.00, primarily due to the maturity of receivable notes[12] - Prepayments increased by 92.00% to CNY 146,390,000.00, driven by advance payments for project progress[13] - Total current assets decreased to CNY 366,186,011.14 from CNY 386,117,935.50, a decline of 5.2%[30] - Total liabilities decreased to CNY 207,092,634.85 from CNY 229,010,521.51, a reduction of 9.5%[31] - Total assets decreased to CNY 619,725,721.02 from CNY 642,429,021.13, a decline of 3.5%[31] - Non-current assets totaled CNY 253,539,709.88, down from CNY 256,311,085.63, a decrease of 1.1%[30] Cash Flow - Cash received from investment recoveries amounted to 80,000,000 CNY, primarily from the redemption of financial products and structured deposits[17] - Cash received from investment income was 866,200 CNY, mainly from the redemption of financial products and structured deposits[17] - Cash received from borrowings was 10,000,000 CNY, with no bank borrowings in the previous period[20] - Cash paid for debt repayment was 0 CNY, a decrease of 71,162,400 CNY compared to the previous period, as there were no such transactions this period[20] - The company generated 44,604,612.19 RMB in cash inflows from operating activities, down 13.5% from 51,503,553.62 RMB in the previous year[38] - Cash outflows for operating activities totaled 80,279,252.78 RMB, a decrease of 5.5% compared to 84,927,144.52 RMB in the previous year[38] - The company’s financing activities resulted in a net cash inflow of 9,172,412.81 RMB, contrasting sharply with a net outflow of -74,280,308.84 RMB in Q1 2017[39] Expenses - Operating costs increased by 32.23% to CNY 218,180,000.00, attributed to a higher proportion of overall solution products and purchased hardware[15] - Management expenses rose by 33.92% to CNY 632,270,000.00, mainly due to increased R&D expenses, employee salaries, and depreciation[16] - Tax expenses for the period were -69,400 CNY, significantly lower than the previous period, mainly due to deferred tax expenses from bad debt provisions[17] - Cash paid for purchasing goods and services decreased by 8,533,300 CNY, a reduction of 30.55%, due to lower procurement payments compared to the previous period[17] Shareholder Information - The total number of shareholders reached 6,321, with the top ten shareholders holding a significant portion of shares[10] Other Income - Other income increased by 8,020,500 CNY, mainly due to the implementation of new government subsidy standards, which classified government subsidies related to daily activities under other income[17] - Non-operating income decreased by 5,475,500 CNY, a decline of 91.97%, due to the reclassification of government subsidies to other income[17]