TAM(SH:603789)2018-04-27 16:00Financial Performance - Net profit attributable to shareholders was CNY -14,208,038.12, a decrease of 198.19% year-on-year[7] - Operating revenue fell by 70.32% to CNY 47,784,115.20 compared to the same period last year[7] - The net cash flow from operating activities was CNY -91,546,985.73, a decline of 878.07% year-on-year[7] - Basic earnings per share were CNY -0.0710, a decrease of 227.47% compared to the previous year[7] - The weighted average return on net assets decreased by 2.67 percentage points to -1.32%[7] - Operating profit fell to -¥16,682,026.43, a decrease of 194.76% compared to the previous year, mainly due to reduced operating revenue[14] - Net profit decreased by 201.52% to -¥15,194,326.91, reflecting a significant drop in operating income[14] - Total operating revenue for Q1 2018 was ¥47,784,115.20, a decrease of 70.3% compared to ¥160,997,237.73 in the same period last year[28] - Basic and diluted earnings per share for Q1 2018 were both -¥0.0710, compared to ¥0.0557 in the same quarter last year[30] - The company reported an operating loss of ¥16,682,026.43 for Q1 2018, compared to an operating profit of ¥17,604,126.87 in Q1 2017[29] - The total comprehensive income for Q1 2018 was -¥12,571,804.47, compared to ¥15,093,322.52 in Q1 2017[32] Shareholder Information - The total number of shareholders at the end of the reporting period was 24,101[11] - The largest shareholder, Huzhou New Home Investment Management Co., Ltd., holds 32.73% of the shares[11] Assets and Liabilities - Total assets decreased by 2.86% to CNY 1,423,207,585.99 compared to the end of the previous year[7] - Total current assets decreased from ¥776,550,953.58 to ¥732,715,306.95, a decline of approximately 5.64%[20] - Total liabilities decreased from ¥331,661,647.28 to ¥303,502,677.23, a decrease of approximately 8.48%[22] - Total equity decreased from ¥1,133,446,963.78 to ¥1,119,704,908.76, a decline of about 1.21%[22] - The company's total liabilities amounted to ¥199,143,155.70, a decrease from ¥225,246,410.71 in the previous period[26] - Total equity for the company was ¥1,059,869,832.12, slightly down from ¥1,070,708,723.81[26] Cash Flow - Cash flow from operating activities showed a net outflow of -¥91,546,985.73, a decrease of 878.07% compared to the previous year[14] - Cash inflow from operating activities decreased to ¥95,442,704.62 from ¥169,980,246.48, a decline of approximately 43.7% year-over-year[38] - Net cash outflow from operating activities was ¥82,617,511.60, compared to a net inflow of ¥15,146,072.88 in the previous period[38] - Cash inflow from investment activities totaled ¥153,070,778.11, down from ¥334,576,164.38, representing a decrease of about 54.3%[39] - Net cash flow from investment activities was ¥128,630,878.25, compared to ¥332,844,610.38 in the prior period, a decline of approximately 61.4%[39] - Cash inflow from financing activities was ¥42,319,029.25, consistent with ¥42,705,600.00 from the previous period[39] - Net cash flow from financing activities increased to ¥33,717,309.25 from ¥21,070,600.00, an increase of about 60.1%[39] - The net increase in cash and cash equivalents was ¥79,730,675.90, down from ¥369,061,283.26, a decrease of approximately 78.4%[39] - The ending balance of cash and cash equivalents was ¥235,614,012.83, compared to ¥513,349,941.60 in the previous period[39] Inventory and Receivables - Accounts receivable increased by 481.39% to ¥3,023,247.93 due to an increase in repayments using notes[13] - Prepayments rose by 655.27% to ¥31,986,424.99 primarily due to increased advance payments for goods[13] - Inventory increased by 53.03% to ¥167,817,208.89 as a result of increased stocking[13] - Accounts receivable decreased from ¥230,166,162.15 to ¥199,347,708.32, a reduction of about 13.38%[20] - The company reported a significant increase in prepayments from ¥4,235,074.39 to ¥31,986,424.99, an increase of approximately 654.36%[20] Investment and Financing Activities - Cash flow from investing activities decreased by 59.82% to ¥131,583,426.43, primarily due to reduced recoveries from financial products[14] - The company planned to raise up to 1 billion RMB through a non-public offering of A-shares for projects including the production of 800 cotton pickers and 5,000 balers[16] - The non-public offering was approved by the China Securities Regulatory Commission, allowing the issuance of up to 39,563,295 new shares[16] - The company adjusted its fundraising projects and reduced the planned production of cotton pickers in the revised offering plan[16] Stock Incentive Plan - The company approved a stock incentive plan in 2016, granting 1.61 million restricted shares to 271 eligible participants[15] - A total of 1,960,400 restricted shares were repurchased and canceled due to the termination of the stock incentive plan[15] Other Information - The company has not disclosed any new product developments or market expansion strategies in this report[6] - The company's financial statements as of March 31, 2018, were prepared but not audited[19] - Total non-current assets increased slightly from ¥688,557,657.48 to ¥690,492,279.04, a growth of about 0.28%[21] - Cash and cash equivalents increased from ¥223,807,981.56 to ¥261,685,203.57, an increase of approximately 16.93%[20] - Short-term borrowings and other financial liabilities were not reported, indicating potential liquidity management strategies[22] - Total operating costs for Q1 2018 were ¥65,126,415.52, down 55.1% from ¥144,853,125.13 year-over-year[28] - Investment income for Q1 2018 was ¥542,244.00, down from ¥1,465,214.79 in the previous year[29] - The company incurred financial expenses of ¥2,276,774.94 in Q1 2018, compared to a financial income of -¥1,302,809.20 in the same period last year[29]