TECHSEM(SZ:300046)2016-04-22 16:00Financial Performance - Total revenue for Q1 2016 was CNY 35,101,684.28, a decrease of 9.88% compared to CNY 38,949,591.24 in the same period last year[8]. - Net profit attributable to shareholders was CNY 5,727,707.32, down 8.29% from CNY 6,245,703.18 year-over-year[8]. - Net profit excluding non-recurring gains and losses was CNY 5,046,239.06, a decline of 17.07% compared to CNY 6,084,780.95 in the previous year[8]. - Basic earnings per share decreased to CNY 0.0403, down 8.41% from CNY 0.0440 in the previous year[8]. - The company's net profit for the same period was RMB 5.73 million, down 8.29% compared to the previous year[23]. - Net profit for the current period is 5,727,707.32, a decline of 8.3% compared to 6,245,703.18 in the previous period[55]. - Operating profit decreased to 6,412,334.66, down 11.6% from 7,254,226.10 in the previous period[55]. Cash Flow and Assets - Operating cash flow for the period was CNY 14,272,852.77, a significant increase of 1612.57% from a negative cash flow of CNY -943,615.64 in the same period last year[8]. - The company's cash flow from operating activities increased significantly to RMB 14.27 million, a growth of 1612.57% year-on-year[22]. - Cash flow from operating activities generated a net amount of 14,272,852.77, a significant improvement from -943,615.64 in the previous period[57]. - The company's total assets as of March 31, 2016, amounted to 840,113,038.06 yuan, an increase from 832,431,276.35 yuan at the beginning of the period[50][53]. - The company's total current assets were reported at 651,765,691.75 yuan, compared to 639,573,370.81 yuan at the beginning of the period, reflecting a growth of approximately 1.87%[50]. - The ending cash and cash equivalents balance is 413,275,787.46, down from 488,447,125.44 in the previous period[58]. Investments and Fund Management - The total amount of raised funds is CNY 58,805.3 million, with CNY 26.13 million invested in the current quarter[38]. - Cumulative investment of raised funds amounts to CNY 25,938.23 million, with no changes in usage reported[38]. - The company has achieved 97.88% of the planned investment progress for the semiconductor device technology upgrade project[39]. - The company plans to use up to 225 million yuan of temporarily idle funds for cash management, with a maximum of 40 million yuan from its own funds and 185 million yuan from temporarily idle raised funds[41]. - As of March 31, 2016, the company had invested 65 million yuan in a wealth management product with Shanghai Pudong Development Bank, yielding approximately 629,698.63 yuan[41]. Market and Competition - The power semiconductor market is operating at a low level, with main product sales volume and revenue showing a year-on-year decline[29]. - The company faces intense market competition due to structural overcapacity in the industry, prompting a need to accelerate the development of new devices and high-end customer acquisition[30]. - New product development is progressing slowly, impacting the company's ability to respond to market demand changes compared to international peers[30]. - The company is experiencing underutilization of production capacity due to market environment changes, necessitating efforts to expand into new markets and applications[31]. Related Party Transactions - The company committed to avoiding and minimizing related party transactions with other controlled enterprises[34]. - The company ensures that any unavoidable related party transactions will adhere to legal and regulatory standards, maintaining fair market pricing[35]. - The commitment to not utilize the company's position to harm the interests of shareholders through related party transactions is emphasized[34]. - The company guarantees that any business opportunities that may compete with its operations will be offered to the company itself[34]. - The commitment letter is effective immediately upon signing and remains valid as long as the company is recognized as a related party[35]. - The company will strictly follow the approval authority and procedures for related party transactions as per its articles of association[35]. - The company has not reported any violations of its commitments regarding related party transactions[34]. - The company aims to ensure that any related party transaction prices do not deviate from independent third-party pricing standards[35]. - The company will cease any competitive activities if they conflict with the company's business scope[34]. - The commitment to avoid conflicts of interest in business expansions is reiterated[34]. Other Financial Metrics - The company's financial expenses decreased by 370.54% to RMB -4.49 million, primarily due to increased interest income[21]. - The company's tax liabilities increased by 83.49% to RMB 3.8133 million, mainly due to unpaid VAT and income tax[21]. - The company's top five customers contributed sales of 7.3475 million yuan, accounting for 20.93% of total revenue, an increase from 15.42% in the previous year with sales of 6.0052 million yuan[28]. - The balance of prepaid expenses at the end of the period was RMB 0.9211 million, an increase of 343.63% from the beginning of the period[21]. - Other receivables rose to RMB 0.2560 million, reflecting a substantial increase of 2088.39% year-on-year[21]. - The company announced a cash dividend of 2.50 yuan per 10 shares, totaling 35.52 million yuan, pending approval at the 2015 annual general meeting[44]. - The company’s net profit for the year is projected to remain stable, with no significant fluctuations expected compared to the previous year[45]. - The company has no violations regarding external guarantees during the reporting period[46]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[46].