襄阳轴承(000678) - 2018 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2018 was CNY 387,297,614.46, representing a slight increase of 0.29% compared to CNY 386,194,339.85 in the same period last year[8]. - The net profit attributable to shareholders of the listed company decreased by 85.82% to CNY 432,470.19 from CNY 3,050,898.70 year-on-year[8]. - The net profit attributable to shareholders after deducting non-recurring gains and losses improved by 28.48%, reaching CNY -1,537,131.07 compared to CNY -2,149,160.19 in the previous year[8]. - The basic earnings per share were CNY 0.001, down 85.71% from CNY 0.007 in the same period last year[8]. - The diluted earnings per share also decreased by 85.71% to CNY 0.001 from CNY 0.007 year-on-year[8]. - The weighted average return on net assets was 0.04%, a decrease of 0.21% compared to 0.25% in the previous year[8]. - Total profit decreased by 60.56% to 2,117,802.31 as a result of rising procurement costs[18]. Cash Flow and Assets - The net cash flow from operating activities was CNY 5,089,052.21, a significant increase of 106.89% from CNY -73,838,190.04 in the same period last year[8]. - Net cash flow from operating activities improved by 106.89% to 5,089,052.21 due to reduced monetary expenditures[18]. - Net cash flow from financing activities surged by 735.71% to 82,398,761.19 due to increased loans[18]. - Cash and cash equivalents rose by 61.48% to 200,071,742.25 driven by increased loans and bank deposits[18]. - Total assets at the end of the reporting period were CNY 2,935,624,202.25, up 4.78% from CNY 2,801,599,773.88 at the end of the previous year[8]. - The net assets attributable to shareholders of the listed company slightly decreased by 0.21% to CNY 1,248,618,886.05 from CNY 1,251,302,105.92 at the end of the previous year[8]. Financial Changes and Impairments - Financial expenses increased by 75.35% to 5,079,487.85 due to increased loans and rising interest rates[18]. - Long-term borrowings increased by 82.16% to 120,723,810.74 reflecting an increase in the parent company's long-term loans[18]. - The company reported a 97.88% decrease in asset impairment losses to 39,874.61 due to reduced bad debt provisions[18]. - Other comprehensive income decreased by 51.42% to 2,942,387.47 due to reduced foreign currency translation differences[18]. Shareholder and Control Changes - The company is undergoing a change in its controlling shareholder with the introduction of Wuhan Jinhong Industrial Group as the final investor[19]. - The actual controller of the company changed to individual Jia Zhihong following the restructuring process[19].