*ST佳沃(300268) - 2018 Q1 - 季度财报

Financial Performance - Total revenue for Q1 2018 reached ¥439,401,058.21, a significant increase of 244,278.25% compared to the same period last year[7] - Net profit attributable to shareholders was ¥1,202,821.96, representing a growth of 265.09% year-over-year[7] - The net profit after deducting non-recurring gains and losses was ¥979,537.81, up 207.83% from the previous year[7] - Basic and diluted earnings per share both improved to ¥0.010, a 200% increase compared to the same period last year[7] - Operating profit reached ¥6,507,498.00, reflecting an increase of 816.38% compared to the previous year[21] - Net profit amounted to ¥5,247,502.24, marking an increase of 820.23% year-on-year[21] - The total comprehensive income for the current period was CNY 5,251,868.00, contrasting with a loss of CNY -728,584.50 in the previous period[46] Assets and Liabilities - Total assets increased by 7.21% to ¥1,128,749,198.96 compared to the end of the previous year[7] - Total assets were reported at ¥1,128,749,198.96, with current assets of ¥815,706,625.92 and non-current assets of ¥313,042,573.04[21] - Total liabilities stood at ¥772,806,212.15, while total equity was ¥355,942,986.81, of which equity attributable to the parent company was ¥214,559,518.41[21] - Total liabilities rose to CNY 437,671,002.41, up from CNY 254,330,399.40, highlighting an increase in financial obligations[40] - The company's total equity decreased slightly to CNY 207,311,366.27 from CNY 209,834,355.25, indicating a minor decline in shareholder equity[40] Cash Flow - The company reported a net cash flow from operating activities of -¥35,469,114.60, a decline of 877.44% year-over-year[7] - Cash inflow from operating activities totaled 494,972,613.98, while cash outflow was 530,441,728.58, resulting in a net cash flow of -35,469,114.60[54] - Cash inflow from investing activities was 3,466,666.67, while cash outflow was 939,096.62, leading to a net cash flow of -939,096.62[56] - Cash inflow from financing activities was 445,478,040.78, with cash outflow of 352,675,875.37, resulting in a net cash flow of 92,802,165.41[56] - The ending cash and cash equivalents balance was 139,398,289.59, compared to 46,413,301.94 in the previous period[56] - The company reported a decrease in cash and cash equivalents of 61,187,114.41 during the period[56] Operational Insights - The company faces risks from raw material price fluctuations, which could adversely affect gross margins and net profits[9] - The company is actively seeking upstream resource acquisition opportunities to strengthen its market position and enhance product value[10] - The company has implemented strict food safety management systems to mitigate risks associated with food quality and safety[11] - The significant revenue growth was primarily driven by the acquisition of Qingdao Guoxing Food Co., Ltd. and the establishment of Zhejiang Wo Zhi Xian Import and Export Co., Ltd.[21] - Operating costs surged by 759,445.18% year-on-year, attributed to the same consolidation and normal business operations[19] - The company did not engage in any repurchase transactions during the reporting period[16] - The company did not report any major changes in product or service offerings during the reporting period[21] - There were no significant changes in the top five suppliers or customers that impacted the company[21] - The company did not face any major adverse risk factors or operational difficulties during the reporting period[21] - There were no violations regarding external guarantees or non-operating fund occupation by controlling shareholders[24][25] Shareholder Information - As of the report date, the total number of ordinary shareholders was 12,878, with no preferred shareholders[13] - As of the reporting period, cash and cash equivalents increased by 92.08% compared to the beginning of the period, primarily due to increased bank borrowings for raw material procurement[19] - Accounts receivable grew by 75.99% compared to the beginning of the period, driven by increased sales during the seafood and meat consumption peak season[19] - Prepaid accounts increased by 115.26% compared to the beginning of the period, reflecting higher procurement payments as the purchasing season commenced[19] - The company’s long-term expenses increased by 252.53% compared to the beginning of the period, due to increased renovation and amortization costs[19] - Short-term borrowings rose by 35.43% compared to the beginning of the period, reflecting the need for additional financing during the procurement season[19] Audit and Compliance - The company did not conduct an audit for the first quarter report[61] - The company experienced a significant increase in cash outflow related to operating activities compared to the previous period[59]