SONGZ(SZ:002454)2017-04-24 16:00Financial Performance - The company's operating revenue for the first quarter of 2017 was ¥988,771,680.81, representing a 38.55% increase compared to ¥713,657,522.40 in the same period last year[8] - The net profit attributable to shareholders was ¥74,273,766.84, up 29.44% from ¥57,382,296.32 year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥61,514,738.40, reflecting a 14.30% increase from ¥53,819,996.58 in the previous year[8] - The net cash flow from operating activities was ¥51,558,920.95, a significant improvement of 445.76% compared to -¥14,911,884.41 in the same period last year[8] - The basic earnings per share increased to ¥0.18, up 28.57% from ¥0.14 year-on-year[8] Assets and Liabilities - The total assets at the end of the reporting period were ¥4,790,249,935.97, a slight decrease of 0.46% from ¥4,812,459,893.24 at the end of the previous year[8] - The net assets attributable to shareholders increased by 2.78% to ¥2,862,543,632.83 from ¥2,785,186,779.44 at the end of the previous year[8] Operating Costs and Expenses - The company's operating costs rose by 34.80% year-on-year, primarily due to increased sales volume[16] - The company's sales expenses increased by 46.69% year-on-year, attributed to rapid business growth and higher sales revenue[16] - Prepayments increased by 92.73% year-on-year, indicating the company's efforts to meet business development needs[16] Future Projections and Plans - The company expects a net profit attributable to shareholders for the first half of 2017 to be between 12,429.43 and 16,949.22 million CNY, representing a growth of 10% to 50% compared to the same period in 2016[21] - The company plans to issue shares at a price of 12.55 CNY per share, which is 90% of the average trading price over the previous 20 trading days[17] Strategic Acquisitions - The company is in the process of acquiring 51% of Suzhou Xintongchuang Automotive Air Conditioning Co., Ltd., with the audit and evaluation nearing completion[18] - The company has approved participation in the bidding for a portion of the state-owned equity transfer of Beijing Shougang Foton Automotive Air Conditioning Co., Ltd.[18] Product Growth Expectations - The company anticipates significant growth in its large and medium-sized bus products and passenger vehicle products, contributing to the expected increase in revenue[21]