NCIC(SZ:002246)2018-04-23 16:00Financial Performance - Revenue for the first quarter was CNY 321,094,127.88, a decrease of 15.39% compared to the same period last year[8] - Net profit attributable to shareholders was CNY -2,930,903.47, representing a decline of 121.36% year-on-year[8] - Basic earnings per share were CNY -0.0053, down 119.63% from CNY 0.0248 in the same period last year[8] - The decline in net profit was primarily attributed to reduced profits in the nitrocellulose and pump product markets, with a year-on-year decrease of CNY 19.15 million, or 135.10%[19] - The estimated net profit attributable to shareholders for the first half of 2018 is projected to be between ¥35.95 million and ¥51.36 million, representing a decrease of 0% to 30% compared to the same period in 2017[26] - The decline in profit is attributed to intensified market competition for nitrocellulose products and reduced demand from domestic clients due to environmental pressures[26] Cash Flow and Assets - Net cash flow from operating activities was CNY -69,890,386.75, a decrease of 29.86% compared to the previous year[8] - Total assets at the end of the reporting period were CNY 3,455,900,872.59, a decrease of 0.72% from the end of the previous year[8] - Cash and cash equivalents decreased by 61.61% compared to the beginning of the year due to capital preservation investment activities[16] - Accounts receivable notes decreased by 32.44% as a result of an increased proportion of note payments[17] - Prepayments increased by 35.77% due to advance payments made by some customers as per contract agreements[19] - Investment cash payments increased by CNY 4.96 billion due to capital preservation investment activities[20] Corporate Actions and Compliance - The company raised approximately ¥418.95 million through a non-public issuance of shares, with funds deposited on December 29, 2017[21] - The company completed the transfer of 80% equity in its subsidiary, Beijing Northern Century Cellulose Technology Development Co., Ltd., with an assessed value of ¥942.88 million[22] - The company reported no overdue commitments from actual controllers, shareholders, or related parties during the reporting period[25] - There were no violations regarding external guarantees during the reporting period[30] - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[31] - The company has not provided any materials in response to inquiries regarding stock price declines and performance expectations during various communication sessions[32]