Goaland(SZ:300499)2017-04-24 16:00Financial Performance - Total revenue for Q1 2017 was CNY 106,413,637.26, representing a 19.20% increase compared to CNY 89,270,987.70 in the same period last year[7]. - Net profit attributable to shareholders was CNY -5,332,837.73, a decrease of 53.47% from CNY -3,474,876.51 year-on-year[7]. - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -6,373,774.32, down 89.19% from CNY -3,368,939.73 in the previous year[7]. - The weighted average return on net assets was -0.90%, slightly down from -0.73% in the previous year[7]. - The company's net profit for Q1 2017 was CNY -5,403,453.47, a decrease of 52.39% from CNY -3,545,786.76 in Q1 2016, mainly due to a decline in total profit[27]. - The company reported a significant increase in prepayments, which rose by 54.38% to CNY 27,691,781.37, reflecting higher advance payments for project materials[26]. - The company reported a decrease in undistributed profits to CNY 208,149,145.40 from CNY 218,492,646.80[54]. - The total comprehensive income for Q1 2017 was a loss of CNY 10,343,501.40, compared to a loss of CNY 6,122,830.76 in the previous year[62]. Cash Flow and Liquidity - The net cash flow from operating activities improved by 31.56%, amounting to CNY -34,771,639.09 compared to CNY -50,803,647.73 in the same period last year[7]. - Cash and cash equivalents decreased by 146.12% to CNY -55,054,154.04, largely due to the absence of last year's fundraising inflow[29]. - The company reported a cash inflow from operating activities of CNY 127,963,937.98, up from CNY 95,571,460.09 in the previous period[64]. - The cash and cash equivalents at the end of Q1 2017 amounted to 150,425,862.39 CNY, down from 178,717,933.58 CNY in the previous year[69]. - The total cash outflow from operating activities was 160,852,101.08 CNY, compared to 143,639,913.65 CNY in the previous year[68]. - The company experienced a decrease in cash and cash equivalents by 37,895,957.54 CNY during the quarter[69]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,110,024,058.77, a slight decrease of 0.53% from CNY 1,115,957,108.58 at the end of the previous year[7]. - The total liabilities decreased by 47.73% to CNY 2,471,931.45 due to the payment of corporate income tax in the first quarter[26]. - The total liabilities were CNY 567,639,999.89, a decrease from CNY 574,810,720.61 in the previous period[54]. - Accounts receivable increased from 210,489,095.19 RMB to 285,781,823.40 RMB during the reporting period[48]. - Inventory rose from 213,577,030.28 RMB to 226,292,474.67 RMB, indicating an increase in stock levels[48]. Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders is 14,570[17]. - The top 10 shareholders hold significant stakes, with the largest shareholder, Li Qi, owning 20.55% (24,661,136 shares) and having pledged 6,498,000 shares[17]. - The second-largest shareholder, Wu Wenwei, owns 15.14% (18,163,098 shares) and has pledged 7,055,000 shares[17]. - The company has a total of 12,315,615 shares held by Guangzhou Haihui Growth Venture Capital Center, which are unrestricted[18]. - The company’s major shareholders, including Li Qi, Wu Wenwei, and Tang Hong, are identified as actual controllers and have a concerted action relationship[18]. Operational Highlights - The company is actively expanding into new application areas such as high-power converters for ships and data center servers, with new products like water-cooled radiators entering the market promotion phase[11]. - The company is pursuing international market expansion, collaborating with major firms like GE, ABB, and SIEMENS, but currently has a limited customer and product base in international markets[12]. - The company is in the prototype stage for several key R&D projects, including water cooling equipment for servers and a DSP-based cooling control system, aimed at enhancing product competitiveness[31]. - The company successfully won a water cooling project with CRRC Zhuzhou Electric Locomotive Co., marking a significant breakthrough in new fields[34]. - The company has obtained software copyrights for five projects and published three scientific papers, reflecting its commitment to R&D and innovation[34]. Risks and Challenges - The company faces risks related to large accounts receivable, which could lead to cash flow pressure and potential bad debts if customer performance declines[10]. - The company emphasizes the importance of retaining high-quality technical talent to support future development, facing risks of talent loss due to competitive pressures[14]. - If the company loses its tax incentives due to policy changes, it may adversely affect future net profits[15]. Investment and Funding - The total amount of raised funds is 22,761.43 million RMB, with 999.74 million RMB invested in the current quarter[40]. - Cumulative investment of raised funds reached 20,053.18 million RMB, with a cumulative change in use of raised funds amounting to 0[40]. - The cash dividend policy for 2016 proposed a distribution of 1.05 RMB per 10 shares, totaling 12,600,630 RMB[42].