世龙实业(002748) - 2018 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2018 was ¥302,917,328.63, a decrease of 9.45% compared to ¥334,544,380.96 in the same period last year[7]. - The net profit attributable to shareholders for Q1 2018 was ¥11,996,497.08, down 81.59% from ¥65,163,030.66 in the previous year[7]. - The basic earnings per share for Q1 2018 was ¥0.0500, a decrease of 81.58% from ¥0.2715 in the previous year[7]. - Total profit decreased by 81.64% compared to the same period last year, attributed to the same reasons affecting operating profit[16]. - Net profit decreased by 81.59% year-on-year, driven by the same factors impacting operating profit and total profit[18]. - Operating profit decreased by 81.09% year-on-year, primarily due to a decline in the price of the main product AC foaming agent and an increase in raw material costs, leading to a reduced gross profit margin[15]. - The estimated net profit for the first half of 2018 is expected to decrease by 70.00% to 85.00% compared to the same period last year, primarily due to declining product prices and rising raw material costs[21]. Cash Flow - The net cash flow from operating activities was negative at -¥37,117,921.97, a decline of 206.67% compared to ¥34,796,411.20 in the same period last year[7]. - Operating cash flow net amount decreased by 206.67% compared to the same period last year, due to a decline in cash recovery from sales and increased cash outflow for raw material purchases[19]. - Investment cash flow net amount decreased by 197.87% year-on-year, as no financial product investments were made during the period[19]. - Cash and cash equivalents net increase decreased by 196.21% year-on-year, mainly due to reduced total profit and increased accounts receivable[19]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,368,915,956.49, a slight decrease of 0.48% from ¥1,375,484,410.77 at the end of the previous year[7]. - Accounts receivable increased by 68.49% compared to the beginning of the year, primarily due to an increase in receivables from customers within the credit period[14]. - Inventory grew by 34.74% compared to the beginning of the year, mainly due to an increase in product and raw material stock[14]. - Short-term borrowings increased by 50.00%, primarily due to an additional ¥10 million in working capital loans from China Bank[14]. - The company reported a 135.46% increase in other receivables, mainly due to prepayments for technical consulting fees and increased claims for work-related injuries[14]. Tax and Other Income - Tax and additional fees decreased by 39.60% compared to the same period last year, mainly due to a decline in export sales revenue and corresponding VAT payable[15]. - Investment income decreased by 100.00% compared to the same period last year, as no investment in financial products was made during the period[15]. - Other income was a new item, reflecting adjustments based on the revised accounting standards for government subsidies effective from June 12, 2017[15]. Return on Investment - The weighted average return on net assets was 1.03%, down 5.02% from 6.05% in the previous year[7].