Westone(SZ:002268)2017-04-26 16:00Financial Performance - The company's operating revenue for Q1 2017 was ¥119,154,463.97, a decrease of 32.11% compared to ¥175,516,503.81 in the same period last year[8] - The net profit attributable to shareholders was -¥101,952,740.85, representing a decline of 137.71% from -¥42,889,635.11 year-on-year[8] - The basic earnings per share were -¥0.2357, a decrease of 137.60% compared to -¥0.0992 in the same period last year[8] - The weighted average return on net assets was -7.09%, down by 3.91 percentage points from -3.18% year-on-year[8] - The net profit for the first half of 2017 is expected to be between -77 million and -58 million RMB, a decrease compared to -38.08 million RMB in the same period last year[21] Cash Flow and Financing - The net cash flow from operating activities improved by 28.71%, amounting to -¥254,704,885.55 compared to -¥357,260,506.99 in the previous year[8] - Net cash flow from financing activities increased by 1772.51% year-on-year, mainly due to funds received from the private placement of shares[16] - Cash and cash equivalents increased by 260.94% compared to the beginning of the year, mainly due to funds raised from a private placement of shares[15] - The company completed a private placement of 91,436,672 shares at a price of 29.45 RMB per share, raising a total of approximately 2.69 billion RMB[17] - Short-term borrowings decreased by 100% compared to the beginning of the year, as the company repaid all loans with raised funds[15] Assets and Shareholder Equity - The total assets at the end of the reporting period increased by 36.18% to ¥4,969,816,174.87 from ¥3,649,498,766.16 at the end of the previous year[8] - The net assets attributable to shareholders rose significantly by 171.94% to ¥4,049,452,051.72 from ¥1,489,073,077.51[8] - Deferred tax assets grew by 60.66% compared to the beginning of the year, due to an increase in deductible losses[15] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 27,266[11] - The largest shareholder, China Electronics Technology Network Information Security Co., Ltd., held 37.79% of the shares, totaling 197,985,410 shares[11] Operational Insights - Operating revenue decreased by 32.11% year-on-year, primarily due to delays in the execution of major projects[15] - Management expenses increased by 34.72% year-on-year, attributed to increased investments in projects and recruitment of senior technical personnel[15] - Prepaid accounts increased by 30.88% compared to the beginning of the year, mainly due to increased advance payments to suppliers for sales preparation[15] - Other payables decreased by 81.24% compared to the beginning of the year, primarily due to the return of 200 million RMB of state-owned capital to China Cybersecurity[15]