SHBM(SH:900939)2018-04-27 16:00Financial Performance - Net profit attributable to shareholders decreased by 93.04% to CNY 50,586.89 compared to the same period last year[8]. - Operating revenue decreased by 3.38% to CNY 3,348,331.88 compared to the same period last year[8]. - Basic earnings per share decreased by 92.50% to CNY 0.0003 compared to the same period last year[8]. - The weighted average return on equity decreased by 1.01 percentage points to 0.07% compared to the same period last year[8]. - The net profit attributable to the parent company decreased by 93.04% to CNY 50,586.89 from CNY 727,075.15 year-on-year[14]. - Net profit for the period was 44,974.88 RMB, down from 722,477.75 RMB, indicating a decline of approximately 93.77%[28]. - Other comprehensive income after tax was -721.42 RMB, indicating a negative impact on overall financial performance[29]. - The total comprehensive income for the first quarter of 2018 was -1,276,276.58 RMB, compared to -588,374.43 RMB in the previous period, indicating a decline[30]. Cash Flow - Net cash flow from operating activities increased by 11.74% to CNY 3,227,300.47 compared to the same period last year[8]. - Cash inflows from operating activities amounted to 5,163,773.26 RMB, an increase of 19.87% from 4,307,281.52 RMB in the previous period[32]. - The net cash flow from operating activities was 3,227,300.47 RMB, up from 2,888,146.05 RMB, reflecting a growth of 11.75%[33]. - Cash outflows for operating activities totaled 1,936,472.79 RMB, compared to 1,419,135.47 RMB in the previous period, representing a 36.31% increase[33]. - The cash flow from investment activities was -21,948,493.15 RMB, an improvement from -33,000,000.00 RMB in the previous period[33]. - The company received 20,000,000.00 RMB from investment recoveries during the first quarter[34]. - The total cash outflow for investment activities was 43,000,000.00 RMB, compared to 35,000,000.00 RMB in the previous period, indicating a 22.86% increase[34]. - The net cash flow from financing activities was not reported, indicating no significant changes in financing during the period[34]. Assets and Liabilities - Total assets increased by 0.40% to CNY 96,662,047.84 compared to the end of the previous year[8]. - The company reported a significant decrease in cash and cash equivalents by 66.87% to CNY 9,274,399.43 due to investments in bank financial products[13]. - Current assets increased to CNY 53,319,959.90 from CNY 50,366,850.35, driven by an increase in cash and cash equivalents[18]. - The total liabilities increased to CNY 21,932,279.58 from CNY 21,589,874.47, indicating a slight rise in financial obligations[20]. - The company's total assets decreased slightly to 243,083,004.69 RMB from 244,342,743.83 RMB[24]. - Total liabilities remained stable at 38,162,476.61 RMB compared to 38,145,939.17 RMB in the previous period[24]. - The equity attributable to shareholders decreased to 204,920,528.08 RMB from 206,196,804.66 RMB, reflecting a decline of about 0.62%[24]. Expenses - Management expenses increased by 30.56% to CNY 1,021,024.86 mainly due to new business development and increased maintenance costs[13]. - The company reported a significant increase in management expenses to 1,021,024.86 RMB from 782,060.20 RMB, highlighting rising operational costs[28]. - The company experienced a 223.95% increase in taxes and surcharges to CNY 326,991.60 due to increased land use tax provisions[13]. Inventory and Receivables - Accounts receivable decreased by 67.20% to CNY 483,731.04 primarily due to the collection of previous year's sales[13]. - The company’s inventory decreased significantly to CNY 137,711.79 from CNY 661,965.18, reflecting improved inventory management[18]. - The company reported a significant reduction in impairment losses, down 60% to CNY 800,000.00 from CNY 2,000,000.00[14]. Future Outlook - The company anticipates uncertainty in net profit for the year due to the performance variability of its joint venture, Shanghai Huili Paint Co., Ltd.[15]. - The company is negotiating a lease renewal for its factory with a significant impact on its main business and financial indicators, with discussions set to begin in May 2018[14].