*ST惠天(000692) - 2017 Q1 - 季度财报

Revenue and Profit - Revenue for Q1 2017 was CNY 911,426,387.79, an increase of 10.65% compared to CNY 823,686,965.15 in the same period last year[8] - Net profit attributable to shareholders decreased by 45.19% to CNY 51,830,613.04 from CNY 94,561,947.59 year-on-year[8] - Non-operating income increased by 149.19% year-on-year, primarily from higher government subsidies compared to the previous year[22] Cash Flow and Operating Activities - Net cash flow from operating activities was negative at CNY -453,600,600.20, a decline of 10.83% compared to CNY -409,292,428.88 in the previous year[8] - Cash received from operating activities decreased by 40.64% compared to the previous year[20] - Cash paid for other operating activities increased by 72.97% due to higher project payments by a subsidiary[20] Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,852,872,506.19, a decrease of 0.76% from CNY 4,890,140,754.06 at the end of the previous year[8] - Accounts receivable increased by 50.44% due to higher receivables from heating services and heating fees[16] - Long-term borrowings increased by 383.33% as the company adjusted its financing structure[17] - Notes payable surged by 1637.90% year-on-year due to increased payments made via bank acceptance bills[21] - Advance receipts dropped by 89.59% year-on-year as heating fee prepayments were recognized as revenue[21] - Taxes payable rose by 133.94% year-on-year due to increased corporate income tax from profits realized during the reporting period[21] Expenses - Tax and additional fees rose by 1848.80% due to reclassification of certain expenses[18] - Financial expenses increased by 53.67% due to higher interest expenses from increased bank borrowings[18] - Non-operating expenses rose by 76.87% year-on-year, mainly due to increased fines incurred during the reporting period[22] - Interest payable decreased by 43.36% year-on-year as the company repaid loan interest[21] Other Information - Prepayments decreased by 32.03% year-on-year due to a reduction in coal prepayments[21] - Other current assets increased by 33.08% year-on-year, attributed to an increase in VAT receivables[21] - The company is expected to conduct a special audit of the operational performance of the Wulihe boiler room assets from 2013 to 2017[23] - The company plans to revise the profit commitment for the Wulihe boiler room assets, with a new target net profit of CNY 138.22 million for the 2013-2017 period[23]