NSU(SZ:002089)2017-04-24 16:00Financial Performance - The company's revenue for Q1 2017 was ¥276,153,219.97, a decrease of 20.44% compared to ¥347,079,311.42 in the same period last year[8] - Net profit attributable to shareholders was ¥13,030,804.45, representing a significant increase of 214.81% from a loss of ¥11,349,588.57 in the previous year[8] - The net profit after deducting non-recurring gains and losses was ¥10,306,590.45, up 187.47% from a loss of ¥11,783,521.34 year-on-year[8] - Basic earnings per share increased to ¥0.0190, compared to a loss of ¥0.0165 in the same period last year, marking a 215.15% increase[8] - Operating profit increased by 2,107.05 million yuan, a growth of 933.50%, driven by substantial investment income from associated companies[19] - Net profit rose by 2,410.18 million yuan, a growth of 394.40%, primarily due to the large investment income recognized from associated companies[19] - The net profit attributable to shareholders for the first half of 2017 is expected to be between 55 million and 66 million RMB, representing a growth of 40.07% to 68.08% compared to 39.27 million RMB in the same period of 2016[31] - The increase in investment income and the turnaround of the subsidiary Suzhou Xinnajing are the main reasons for the expected profit growth[31] Cash Flow - The net cash flow from operating activities improved to -¥58,912,146.79, a 75.35% improvement from -¥239,023,006.08 in the previous year[8] - The net cash flow from operating activities improved by 18,011.09 million yuan, an increase of 75.35%, mainly due to reduced payments for procurement[21] - The net cash flow from investing activities decreased by 8,917.76 million yuan, a decline of 382.40%, due to increased payments for external investments[21] - The net cash flow from financing activities decreased by 5,058.49 million yuan, a decline of 245.36%, primarily due to lower cash received from borrowings[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥5,145,358,965.66, down 4.28% from ¥5,375,449,361.89 at the end of the previous year[8] - Net assets attributable to shareholders increased slightly by 0.69% to ¥1,909,907,679.67 from ¥1,896,876,875.22 at the end of the previous year[8] - Cash and cash equivalents decreased by 24,280.16 million yuan, a decline of 33.77%, primarily due to significant payments for maturing notes and loan repayments[15] - Accounts receivable notes increased by 3,570.82 million yuan, a growth of 117.95%, mainly due to higher amounts settled by customers using notes[16] - Other receivables rose by 1,827.06 million yuan, an increase of 46.92%, largely attributed to significant increases in receivables from the subsidiary New Energy Technology[16] Government Support and Investments - The company received government subsidies amounting to ¥3,384,101.25 during the reporting period[9] - The company plans to increase its investment in the subsidiary New Energy Technology by 200 million yuan, although this has not yet been implemented[25] - The company is participating in an investment fund with a contribution of 10 million yuan, which is still pending completion of relevant registration procedures[24] - The company received national new energy subsidies for four models from its associate company Shaanxi Tongjia Automobile Co., Ltd. on January 24, 2017[26] Corporate Governance - There are no violations regarding external guarantees during the reporting period[32] - There are no non-operating fund occupations by controlling shareholders or their related parties during the reporting period[33] - The company is committed to avoiding competition and fund occupation by major shareholders and related parties[28] - The company has conducted investor relations activities, including on-site investigations, to enhance communication with stakeholders[34][35] - The chairman of the company is Zhang Yibin, who is actively involved in the company's strategic decisions[36] Business Developments - The company completed the registration of changes in its business scope on January 12, 2017[26] - The company announced a profit distribution plan and capital reserve transfer to increase share capital on January 26, 2017[26]