ST摩登(002656) - 2016 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2016 was ¥222,068,688.78, a decrease of 0.11% compared to ¥222,308,325.95 in the same period last year[7]. - The net profit attributable to shareholders was a loss of ¥10,600,352.20, representing a decline of 173.29% from a profit of ¥14,464,203.53 in the previous year[7]. - The net cash flow from operating activities was negative at ¥18,630,560.10, down 153.46% from ¥34,847,811.51 in the prior year[7]. - The weighted average return on equity was -0.89%, down 2.07% from 1.18% in the same period last year[7]. - The company expects a net loss of between -25 million to -10 million CNY for the first half of 2016, compared to a net profit of 23.94 million CNY in the same period of 2015[32]. - The decline in performance is attributed to a lack of significant improvement in the retail market, rising operational costs, and increased interest expenses due to higher bank borrowings[32]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,818,391,541.57, an increase of 1.16% from ¥2,785,961,289.85 at the end of the previous year[7]. - The company reported a decrease of 54.10% in accounts payable notes, primarily due to the maturity of bank acceptance bills[15]. - The company's income tax expense decreased by 54.12% compared to the same period last year, primarily due to a reduction in total profit for the period[22]. Cash Flow - The net cash flow from operating activities decreased by 153.46% year-on-year, mainly due to increased cash payments for purchasing goods and services[23]. - The net cash flow from investing activities declined by 25.05% compared to the previous year, primarily due to increased cash payments for fixed assets, intangible assets, and other long-term assets[24]. - The net cash flow from financing activities decreased by 48.55% year-on-year, mainly due to increased cash payments for debt repayment[25]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 8,139[10]. - The largest shareholder, Guangzhou Ruifeng Group, held 39.75% of the shares, amounting to 79,500,000 shares[10]. Government Support and Investments - The company received government subsidies amounting to ¥873,229.84 during the reporting period, contributing to a 126.84% increase in other income compared to the previous year[20]. - The company has invested approximately 410 million yuan in the "Guangzhou International Fashion Center" project, with a total investment of about 600 million yuan planned[26]. Regulatory and Compliance - The company has received approval for its non-public issuance of A-shares, although it has not yet received the written approval from the China Securities Regulatory Commission[26]. - The company was certified as a high-tech enterprise, which allows it to enjoy preferential income tax policies until December 31, 2017[27]. - There are no reported violations regarding external guarantees or non-operating fund occupation by controlling shareholders during the reporting period[33][34]. Operational Insights - Financial expenses increased by 1516.76% compared to the same period last year, primarily due to increased bank borrowings and related costs[18]. - The company has engaged in multiple on-site investigations with institutions to discuss its operational status and competitive advantages throughout March 2016[35][36]. - The company has committed to using the raised funds to supplement working capital, with a limit of 30% of the total raised amount to be used within any twelve-month period[31].