Haibo(SZ:300517)2018-04-25 16:00Financial Performance - Total revenue for Q1 2018 was ¥41,845,988.16, a decrease of 26.37% compared to ¥56,832,393.53 in the same period last year[7] - Net profit attributable to shareholders was ¥3,975,134.10, down 19.15% from ¥4,916,490.04 year-on-year[7] - Net profit excluding non-recurring gains and losses was ¥3,485,961.64, a decline of 29.08% compared to ¥4,915,157.26 in the previous year[7] - The company's total revenue for the reporting period was 41.846 million RMB, a decrease of 26.37% year-on-year[26] - Net profit for the period was 3.9751 million RMB, down 19.15% compared to the previous year[26] - The company reported a 32.34% decrease in operating costs, totaling 30.51 million RMB, due to a decline in revenue[24] - Operating profit for Q1 2018 was CNY 4,675,413.59, down from CNY 5,782,537.95, a decrease of approximately 19.1%[51] - The company recorded an investment income of CNY 253,205.48, down from CNY 449,893.14, a decrease of about 43.6%[51] - Earnings per share for Q1 2018 were CNY 0.04, down from CNY 0.05 in the previous year, a decline of 20%[52] Cash Flow and Assets - Operating cash flow for the period was ¥5,803,129.09, a significant improvement of 146.70% from a negative cash flow of ¥12,425,989.70 in the same period last year[7] - Cash and cash equivalents decreased by 37.98% to 110.44 million RMB due to increased capital expenditures for production and project implementation[24] - Cash received from operating activities increased by 674.63% to 18.87 million RMB, due to the return of performance bonds[24] - The company's cash and cash equivalents decreased from CNY 178,080,230.75 to CNY 110,442,875.41, a decrease of about 38.1%[42] - The ending balance of cash and cash equivalents was CNY 56,667,794.32, down from CNY 169,767,858.10 at the end of the previous period[63] - Total cash outflow for operating activities was CNY 102,368,463.18, compared to CNY 82,274,064.88 in the previous period, reflecting an increase of approximately 24%[62] Liabilities and Equity - The total liabilities as of the end of Q1 2018 amounted to CNY 408,503,943.38, a decrease from CNY 450,962,835.81[51] - The total equity attributable to shareholders increased from CNY 617,362,590.63 to CNY 620,909,762.95, an increase of approximately 0.4%[45] - Current liabilities decreased from CNY 447,910,046.63 to CNY 405,521,123.85, a decline of approximately 9.5%[44] Investments and Projects - The company plans to utilize raised funds for the development of heavy bridge steel structures and to enhance its engineering capabilities, although there are risks associated with market changes and project performance[15] - The total amount of raised funds is RMB 257.024 million, with RMB 60.2706 million invested in the current quarter[33] - The bridge steel structure production base expansion project has a total investment commitment of RMB 12.636 million, with 100% of the investment completed[34] - The project for the research, development, and manufacturing of super heavy bridge steel structures has received RMB 14.68081 million, with 55.59% of the investment completed by the end of the reporting period[34] Risks and Legal Matters - The company faces risks related to macroeconomic policies, which could significantly impact its main business due to fluctuations in infrastructure investment[10] - The company has established a comprehensive risk control system for accounts receivable, but faces potential risks of delayed or uncollectible receivables due to economic conditions[11] - The company has initiated a lawsuit against Shanxi Construction Engineering Group Co., Ltd. regarding a contract dispute, with a court ruling in favor of the company for a total of RMB 23.4177 million, of which RMB 5 million has been recovered by the end of the reporting period[29] Operational Developments - The company confirmed a progress of 36.99% on a major contract with Chengdu Huachuan Highway Construction Group[27] - The company has signed contracts for steel structure construction with multiple clients, with varying progress rates[27] - The company established a wholly-owned subsidiary, Haibo Heavy Engineering Construction Investment (Hubei) Co., Ltd., with a registered capital of RMB 10 million, approved on November 13, 2017[29]