盛天网络(300494) - 2018 Q1 - 季度财报

Financial Performance - Total revenue for Q1 2018 was CNY 115,599,594.26, representing an increase of 18.28% compared to CNY 97,731,466.65 in the same period last year[7]. - Net profit attributable to shareholders decreased by 23.75% to CNY 20,057,187.28 from CNY 26,302,817.04 year-on-year[7]. - Basic and diluted earnings per share fell by 27.27% to CNY 0.08 from CNY 0.11 in the same period last year[7]. - The weighted average return on net assets decreased to 2.07% from 2.86% year-on-year[7]. - The company's revenue increased by 18.28% year-on-year, driven by the expansion of non-gaming clients and improved advertising service income[31]. - Net profit decreased by 23.75% compared to the previous year, primarily due to increased costs in value-added services and network advertising[31]. - Operating profit decreased to ¥21,933,028.66, down 27.1% from ¥30,086,580.22 in the previous period[49]. - Net profit for the current period was ¥20,057,187.28, a decline of 23.6% from ¥26,302,817.04 in the previous period[49]. - The company recorded other income of ¥4,227,000.00 during the current period, contributing positively to the overall financial performance[49]. Cash Flow - The net cash flow from operating activities was negative CNY 46,100,447.44, a decline of 1856.22% compared to negative CNY 2,356,607.41 in the previous year[7]. - Cash and cash equivalents decreased by 34.13% to RMB 510,893,031.97, attributed to increased external procurement costs and financial management expenditures[23]. - Operating cash inflow from sales increased to ¥101,412,599.47, up from ¥76,591,042.82, representing a growth of 32.4%[55]. - Total cash outflow from investment activities reached ¥324,230,610.98, up from ¥205,015,644.02, marking an increase of 58.2%[55]. - Net cash flow from investment activities was -¥218,743,540.53, worsening from -¥64,166,895.17 in the prior period[55]. - Cash inflow from financing activities was ¥71,771.00, down from ¥1,152,000.00, reflecting a decrease of 93.8%[55]. - The net cash flow from financing activities was -¥1,628,229.00, compared to -¥278,301.89 in the previous period, showing a deterioration[57]. Assets and Liabilities - Total assets increased by 2.37% to CNY 1,035,949,043.95 from CNY 1,011,973,418.28 at the end of the previous year[7]. - Current liabilities totaled ¥57,159,840.22, an increase of 7.3% from ¥53,241,401.83 at the beginning of the period[45]. - Cash and cash equivalents at the end of the period decreased to ¥510,893,031.97 from ¥697,333,402.15, a decline of 26.8%[55]. - Accounts receivable increased by 25.84% to RMB 102,343,053.72, reflecting higher revenue and an increase in outstanding receivables[23]. - Inventory rose by 137.14% to RMB 1,102,369.27, indicating an increase in product reserves[23]. - Total equity attributable to shareholders increased to ¥978,789,203.73, up from ¥958,732,016.45, reflecting a growth of 2.9%[45]. Business Strategy and Development - The company is exploring new business areas such as e-sports, game media, and game operations to adapt to the saturation of new user growth in the internet sector[11]. - The company has increased investment in user center and data center, leading to a significant rise in personnel costs, which poses a risk to profitability[13]. - The company established an internet micro-loan company, entering the internet financial services sector, which faces regulatory risks due to evolving laws and regulations[14]. - The company is focusing on enhancing its mobile product development and advertising strategies to adapt to the changing landscape of the gaming market[12]. - The company has increased its focus on mobile games and H5 games, with the number and quality of mobile game integrations improving compared to the same period last year, leading to an increase in mobile game revenue proportion[36]. - The company has explored the development of internet micro-loan products in collaboration with other financial institutions to meet the financing needs of customers along the industry chain[36]. - The company has implemented various profit model trials to assist internet cafes in transforming and upgrading their business[36]. Investment and Projects - The total amount of raised funds is 47,589.94 million yuan, with a cumulative investment of 31,917.19 million yuan as of the reporting period[39]. - The commercial WiFi system project has an investment progress of 52.07%, with remaining raised funds of 69.27 million yuan due to intense market competition and unclear profit models[40]. - The innovative research institute project has been postponed to December 31, 2020, due to the lack of land resources for implementation[40]. - The company has pre-invested 160.6284 million yuan of self-raised funds into the fundraising investment projects before the actual funds were in place[40]. - Cash outflow for acquiring subsidiaries amounted to ¥530,500,000.00, indicating a significant investment in expansion[57].