HARSON(SH:603958)2017-04-26 16:00Financial Performance - Operating revenue declined by 11.37% to CNY 412,551,069.75 year-on-year[5] - Net profit attributable to shareholders increased by 13.41% to CNY 37,891,315.20 compared to the same period last year[5] - Total operating revenue for Q1 2017 was CNY 412,551,069.75, a decrease of 11.36% from CNY 465,456,495.25 in the same period last year[24] - Net profit for Q1 2017 reached CNY 37,471,018.17, an increase of 14.67% compared to CNY 32,750,136.47 in Q1 2016[25] - The total operating profit for Q1 2017 was -6,472,635.22 RMB, compared to 21,794,082.54 RMB in the same period last year, indicating a significant decline[28] - The net profit for Q1 2017 was -4,841,959.29 RMB, a decrease from 16,338,859.65 RMB year-over-year[28] - The company reported a significant decrease in sales revenue from 603,386,677.32 RMB to 481,526,527.84 RMB, a decline of about 20.2%[30] Cash Flow - The net cash flow from operating activities was CNY 38,527,439.41, a significant recovery from a negative CNY 54,003,666.17 in the previous year[5] - The net cash flow from operating activities for Q1 2017 was RMB 38,527,439.41, a significant improvement compared to a negative RMB 54,003,666.17 in Q1 2016[13] - Cash inflow from operating activities was 502,731,529.08 RMB, down from 609,985,396.84 RMB in the previous year, reflecting a decrease of approximately 17.6%[31] - The net cash flow from investing activities was -144,960,913.09 RMB, compared to -21,206,209.64 RMB in the same period last year, showing a substantial increase in cash used for investments[31] - The net cash flow from financing activities decreased by 101.14% to -RMB 1,223,933.24 in Q1 2017, compared to RMB 106,964,421.33 in Q1 2016, mainly due to a reduction in borrowings[13] Assets and Liabilities - Total assets decreased by 3.64% to CNY 1,434,520,420.31 compared to the end of the previous year[5] - Cash and cash equivalents decreased by 49.84% to CNY 108,421,778.00 due to an increase in financial products[11] - Accounts receivable decreased by 34.22% to CNY 90,938,893.70, attributed to seasonal sales decline[11] - Total assets as of March 31, 2017, were RMB 1,434,520,420.31, down from RMB 1,488,710,512.30 at the beginning of the year[19] - Total liabilities decreased to RMB 211,066,235.78 in Q1 2017 from RMB 303,458,415.30 at the beginning of the year[19] - Total liabilities for Q1 2017 amounted to CNY 370,892,483.88, down from CNY 395,670,273.07 in the same period last year[23] Shareholder Information - The number of shareholders reached 25,949, with the largest shareholder holding 68.26% of the shares[9] - Shareholders' equity totaled CNY 1,119,544,253.65 in Q1 2017, slightly decreasing from CNY 1,124,386,212.94 year-over-year[23] Operational Efficiency - The company plans to continue focusing on improving operational efficiency and exploring new market opportunities[11] - The company reduced its prepayments by 29.61% to CNY 23,622,677.20, also due to seasonal factors[11] - The company’s sales expenses for Q1 2017 were CNY 151,715,582.84, a decrease from CNY 159,283,569.09 in Q1 2016[25] - The company’s management expenses increased to CNY 24,814,826.96 in Q1 2017 from CNY 20,451,846.56 in the previous year[25] Investment Activities - Investment income for Q1 2017 was RMB 13,597,593.45, resulting from the disposal of 70% equity in a subsidiary[13] - Other income increased by 76.80% to RMB 3,228,468.18 in Q1 2017, mainly due to an increase in government subsidies received[13]