浙江众成(002522) - 2015 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2015 was ¥112,988,724.90, representing a 1.75% increase compared to ¥111,043,068.88 in the same period last year[8]. - Net profit attributable to shareholders decreased by 38.75% to ¥5,504,664.30 from ¥8,987,343.50 year-on-year[8]. - The net profit after deducting non-recurring gains and losses fell by 74.72% to ¥2,025,736.95 compared to ¥8,012,302.97 in the previous year[8]. - Operating profit decreased by 47.75% year-on-year, with net profit and net profit attributable to the parent company decreasing by 40.42% and 38.75% respectively[21]. - The net profit attributable to shareholders for the first half of 2015 is expected to be positive, indicating no turnaround from a loss situation[32]. - The net profit for the first half of 2015 is projected to be between 24.14 million and 14.48 million yuan, compared to 24.14 million yuan in the same period of 2014[34]. Cash Flow and Assets - The net cash flow from operating activities decreased by 66.76% to ¥4,133,283.94 from ¥12,436,055.74 in the same period last year[8]. - Cash flow from operating activities decreased by 66.76% year-on-year, mainly due to increased raw material purchases and higher employee compensation[23]. - The company's cash and cash equivalents increased by 46.76% compared to the beginning of the year, primarily due to an increase in short-term borrowings[16]. - Total assets increased by 3.57% to ¥1,805,353,634.11 from ¥1,743,121,962.30 at the end of the previous year[8]. - Net assets attributable to shareholders rose by 0.41% to ¥1,362,293,492.92 from ¥1,356,769,318.60 at the end of the previous year[8]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 6,808[11]. - The largest shareholder, Chen Dakuai, holds 46.19% of the shares, with 204,000,000 shares, of which 153,750,000 are pledged[11]. - The company did not engage in any repurchase transactions during the reporting period[13]. Expenses and Liabilities - Management expenses increased by 11.22% year-on-year, primarily due to higher R&D expenditures and increased depreciation[20]. - Financial expenses increased by 2963.67% year-on-year, mainly due to higher interest expenses from increased short-term borrowings and foreign exchange losses[20]. - Accounts payable decreased by 41.72% compared to the beginning of the year, mainly due to a reduction in outstanding letters of credit[17]. Investments and R&D - Investment income from associates and joint ventures decreased by 50.96% and 114.32% respectively, due to losses from a joint venture[20]. - Rising research and development expenses are impacting management costs due to multiple new materials and products currently under development[34]. - Increased fixed asset depreciation expenses are attributed to the new 3.4-meter polyolefin shrink film production line and management facilities not being transferred to fixed assets in the previous year[34]. Market Conditions - A decline in product sales prices is noted due to the recent sharp drop in the euro exchange rate, with no price adjustments made for euro-denominated products[34]. - Short-term borrowings rose by 60.79% compared to the beginning of the year, driven by increased procurement of raw materials due to falling prices[16]. - Prepayments increased by 51.33% compared to the beginning of the year, mainly due to increased procurement of raw materials[16]. - Interest receivables grew by 200.51% compared to the beginning of the year, attributed to an increase in time deposits[16].