HUAYOU COBALT(SH:603799)2017-04-27 16:00Financial Performance - Net profit attributable to shareholders reached CNY 251,661,353.99, a significant increase of 820.97% year-on-year[6] - Operating revenue for the period was CNY 1,747,176,309.12, reflecting a growth of 66.01% compared to the same period last year[6] - Basic earnings per share rose to CNY 0.42, a 700% increase from CNY -0.07 in the same period last year[6] - The company reported a net profit excluding non-recurring gains and losses of CNY 251,606,058.72, up 645.72% year-on-year[6] - Net profit for the first quarter saw a dramatic increase in income tax expenses, rising by 2054.57% to ¥90,852,123.66 due to substantial profit growth[13] - Net profit for Q1 2017 was CNY 248,790,876.36, compared to a net loss of CNY 37,356,551.34 in Q1 2016[28] - The total profit for Q1 2017 was CNY 106,528,747.83, compared to a loss of CNY -2,483,944.30 in the same period last year[31] Assets and Liabilities - Total assets increased by 4.05% to CNY 11,035,065,289.83 compared to the end of the previous year[6] - The total net assets attributable to shareholders increased by 5.72% to CNY 4,598,323,222.78[6] - The company's total liabilities increased to ¥6,415,747,926.55, compared to ¥6,232,856,965.60 at the start of the year[21] - Current assets totaled CNY 2,028,644,818.81, down from CNY 2,341,745,780.31 at the start of the year, indicating a decrease of 13.4%[24] - The company's cash and cash equivalents decreased to CNY 243,371,983.13 from CNY 1,114,822,769.92, a decline of 78.2%[23] - The total liabilities decreased to CNY 2,026,829,825.45 from CNY 2,114,937,039.13, a reduction of 4.1%[25] - The equity attributable to shareholders increased to CNY 4,232,777,429.62 from CNY 4,141,771,318.23, reflecting a growth of 2.2%[25] Cash Flow - Net cash flow from operating activities was negative at CNY -163,767,604.66, worsening by 65.33% compared to the previous year[6] - Cash flow from operating activities showed a net outflow of CNY -163,767,604.66, worsening from CNY -99,053,891.31 in the previous year[34] - Total cash inflow from operating activities was CNY 1,511,508,834.44, compared to CNY 946,590,178.48 in the same period last year[34] - Investment activities resulted in a net cash outflow of CNY -539,983,777.79, compared to CNY -73,334,227.96 in the previous year[34] - Financing activities generated a net cash inflow of CNY 265,014,061.02, a recovery from a net outflow of CNY -148,158,748.41 in Q1 2016[35] - The net cash flow from financing activities was 269,510,281.60 CNY, a turnaround from -170,082,894.28 CNY in the same period last year[38] Inventory and Receivables - Accounts receivable increased by 78.88% to ¥778,459,014.25 due to significant growth in cobalt sales on credit terms[13] - Inventory rose by 13.84% to ¥2,314,071,472.39 as a result of expanded production scale and rising prices[13] Management and Expenses - Management expenses rose by 22.89% to ¥73,671,835.71, mainly due to increased R&D investment and salary adjustments[13] - Total operating costs for Q1 2017 were CNY 1,407,532,978.28, up 28.1% from CNY 1,098,898,281.36 in Q1 2016[28] Shareholder Information - The top shareholder, Dasha Private Limited, holds 26.16% of shares, with 145,000,000 shares pledged[12] Future Outlook - The company expects to achieve profitability in the first half of the year compared to the same period last year, supported by stable growth in cobalt product prices[14] - The company has not disclosed any new product developments or market expansion strategies in this report[6]