JGBR(SZ:300421)2016-04-25 16:00Financial Performance - Total revenue for Q1 2016 was CNY 118,618,301.36, a 0.68% increase compared to CNY 117,818,699.39 in the same period last year[7]. - Net profit attributable to shareholders was CNY 12,733,698.03, reflecting a 5.26% increase from CNY 12,097,584.19 year-on-year[7]. - The company's operating revenue for the first quarter of 2016 was CNY 134,634,350.26, an increase from CNY 127,692,741.63 in the previous period[80]. - The net profit for the first quarter of 2016 reached CNY 13,351,153.66, compared to CNY 10,024,280.92 in the same period last year, representing a growth of approximately 33%[82]. - The total profit for the first quarter of 2016 was CNY 15,707,239.59, compared to CNY 11,793,271.67 in the previous year, reflecting a growth of approximately 33%[81]. - Operating profit for the first quarter of 2016 was CNY 14,646,168.14, an increase from CNY 11,373,389.63 in the previous period, showing a growth of about 29.97%[81]. - Basic earnings per share for the first quarter of 2016 were CNY 0.1192, up from CNY 0.0895 in the previous year, indicating a significant increase of around 33%[82]. - The company's sales expenses increased to CNY 5,136,837.78 from CNY 2,397,400.15, indicating a rise of approximately 114.5%[81]. - The financial expenses decreased to CNY 509,446.99 from CNY 4,809,380.67, showing a significant reduction of about 89.4%[81]. - The total comprehensive income for the first quarter of 2016 was CNY 13,351,153.66, compared to CNY 10,024,280.92 in the previous year, representing a growth of approximately 33%[82]. Cash Flow and Assets - Net cash flow from operating activities was negative CNY 12,858,840.44, a significant decline of 820.88% compared to CNY 1,783,774.75 in the previous year[7]. - The company's cash flow from operating activities showed a significant decline, with a net outflow of 12.86 million CNY, a decrease of 820.88% compared to the previous year[24]. - Cash inflow from operating activities was CNY 73,656,253.18, down from CNY 126,132,775.49 in the previous period, indicating a decrease of approximately 41.7%[84]. - Cash and cash equivalents decreased by 50.77%, ending at 21.36 million CNY due to payments for materials and equipment[24]. - The company had a net increase in cash and cash equivalents of -26,643,016.46 yuan, compared to an increase of 110,047,001.90 yuan in the previous period[90]. - The company reported a total cash outflow from investing activities of 47,452,087.43 yuan, compared to 10,408,424.51 yuan in the previous period[89]. - Total assets decreased from CNY 695,869,063.35 to CNY 689,505,305.40, a decline of approximately 0.52%[68]. - Current assets decreased from CNY 365,747,368.64 to CNY 356,202,817.42, a decline of about 2.99%[68]. - Cash and cash equivalents at the end of the period were 16,336,028.52 yuan, significantly lower than 129,689,300.28 yuan at the end of the previous period[90]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 13,442[17]. - The largest shareholder, Nantong Yinqiu Investment Co., Ltd., holds 32.18% of shares, totaling 36,036,000 shares[17]. - The second largest shareholder, Shi Yan Fang, holds 8.23% with 9,220,000 shares[17]. - The company has a total of 84,000,000 restricted shares, with 14,000,000 shares released during the reporting period[21]. - The company has a total of 70,000,000 restricted shares remaining after the release[21]. - Liu Ding Mei holds 4.02% of shares, totaling 4,500,000 shares, which are pledged[17]. - The company did not engage in any repurchase transactions among the top ten common shareholders during the reporting period[18]. - Jiangsu Lixing General Steel Ball Co., Ltd. reported a commitment to not increase holdings of Lixing shares within 12 months, strictly adhering to this commitment since March 24, 2016[30]. Business Expansion and Projects - The company plans to expand production capacity and optimize product structure through the "High-end Precision Bearing Steel Ball Expansion and Transformation Project" and the "New Rolling Body Technology Research Center Project"[11]. - The company is establishing a wholly-owned subsidiary in South Carolina, USA, with an investment of USD 25 million to build a production base for bearing steel balls[15]. - The company has signed a framework supply agreement with Schaeffler Group, a major client, after passing their product quality certification[10]. - The establishment of a wholly-owned subsidiary in the Americas for overseas bearing steel ball production is underway, with relevant procedures nearly completed[49]. - The company has established a wholly-owned subsidiary, Rugao Lixing Roller Technology Co., Ltd., which completed registration on January 8, 2016[50]. - The company plans to issue up to 23 million shares to raise a total of no more than 570 million RMB, which will be used for expanding production capacity and other projects[51]. Commitments and Compliance - The company has a commitment to maintain shareholding without transfer or management delegation for 36 months from the date of listing, which has been strictly followed[32]. - The company has reported no breaches of commitments related to share transfers or management since the initial public offering[30]. - The company guarantees compliance with relevant laws and regulations from the China Securities Regulatory Commission and will announce any share reduction three trading days in advance[34]. - The company has committed to a stable return mechanism for shareholders, considering their interests alongside operational conditions[52]. - The company will ensure compliance with the specific guidelines issued by regulatory bodies regarding profit distribution[44]. - The company has no violations regarding external guarantees during the reporting period[62]. - The company has no non-operating fund occupation by controlling shareholders during the reporting period[63].