HUAYOU COBALT(SH:603799)2018-04-27 16:00Financial Performance - Operating revenue for the period reached CNY 3.43 billion, a 96.36% increase year-on-year[7] - Net profit attributable to shareholders surged by 237.96% to CNY 850.52 million[7] - Basic earnings per share rose by 242.86% to CNY 1.44 per share[7] - Weighted average return on equity increased by 136.41 percentage points to 13.31%[7] - Total revenue for the first quarter reached ¥3,430,715,938.03, a remarkable increase of ¥1,683,539,628.91 compared to the same period last year[14] - Net profit for Q1 2018 was ¥851,781,548.89, representing a 242.5% increase from ¥248,790,876.36 in Q1 2017[26] - The total comprehensive income attributable to the parent company for Q1 2018 was CNY 721,873,933.96, compared to CNY 245,891,957.98 in the same period last year, marking an increase of 194.0%[30] Assets and Liabilities - Total assets increased by 76.62% to CNY 19.49 billion compared to the end of the previous year[7] - The company's total liabilities reached ¥3,748,145,634.37, compared to ¥2,514,772,704.92 at the beginning of the year, indicating a rise of 48.9%[23] - Current assets totaled ¥3,023,937,813.55, up from ¥2,112,767,102.21 at the start of the year, reflecting a growth of 43.2%[22] - Long-term borrowings decreased to ¥65,387,902.50 from ¥343,164,929.06, as some were reclassified to current liabilities[14] Shareholder Information - The total number of shareholders reached 74,622 by the end of the reporting period[10] - The largest shareholder, Dasha Private Limited, holds 25.43% of the shares, with 150.70 million shares pledged[10] - The second-largest shareholder, Tongxiang Huayou Investment Co., Ltd., holds 18.56% of the shares, with 110.02 million shares pledged[10] Cash Flow - Cash flow from operating activities showed a slight improvement, decreasing by only 1.67% year-on-year to -CNY 161.04 million[7] - Cash and cash equivalents at the end of Q1 2018 totaled CNY 2,427,265,714.04, up from CNY 1,113,334,116.19 at the end of Q1 2017, indicating a growth of 118.5%[36] - The company reported a total cash inflow from financing activities of CNY 3,915,229,771.98, compared to CNY 2,021,317,040.49 in the previous year, an increase of 93.8%[34] - The net cash flow from operating activities was RMB 155,166,555.39, a significant improvement from a net outflow of RMB 482,876,292.00 in the previous period[38] Inventory and Receivables - Accounts receivable rose significantly to ¥1,964,479,686.90, up by ¥614,400,462.23, attributed to a substantial increase in cobalt product sales[14] - Inventory increased to ¥5,446,406,136.83, reflecting a rise of ¥613,774,519.59 due to rising raw material prices[14] - The company reported a significant increase in accounts receivable, which reached ¥384,946,106.66, compared to ¥185,071,016.43 at the beginning of the year, reflecting a growth of 107.5%[21] Expenses - Operating costs also rose to ¥2,226,065,176.18, an increase of ¥1,021,361,491.63, driven by higher sales of cobalt and ternary precursor products[14] - Management expenses surged to ¥186,414,341.63, an increase of ¥112,742,505.92, primarily due to a substantial rise in R&D expenses[14] - Financial expenses decreased to ¥44,167,922.16, down by ¥30,368,149.62, due to increased exchange gains from currency fluctuations[14] Bonds and Financing - The company issued bonds amounting to ¥720,000,000.00 during the reporting period[14] - The company received cash from investment income amounting to RMB 99,036,593.94, a significant increase from RMB 652,054.79 in the previous period[38]