Feitian(SZ:300386)2017-04-26 16:00Financial Performance - Total revenue for Q1 2017 was CNY 187,222,476.52, representing a 25.41% increase compared to CNY 149,294,142.27 in the same period last year[7]. - Net profit attributable to shareholders was CNY 10,836,524.27, up 29.17% from CNY 8,389,341.56 year-on-year[7]. - Net profit excluding non-recurring items reached CNY 3,957,311.16, a significant increase of 142.06% from CNY 1,634,854.45 in the previous year[7]. - Basic earnings per share increased to CNY 0.0259, reflecting a growth of 28.86% compared to CNY 0.0201 in the same quarter last year[7]. - Revenue for the reporting period was ¥187,222,476.52, an increase of 25.41% year-on-year, while operating costs were ¥115,280,979.81, an increase of 39.01% year-on-year[23]. - Net profit for the reporting period was ¥9,497,613.15, an increase of 36.62% year-on-year, driven by increased revenue and software tax refunds[23]. - The company reported a profit before tax of ¥12,717,000.13, an increase of 55.68% year-on-year, attributed to increased revenue and software tax refunds[23]. - The company reported a total comprehensive income of ¥9,418,756.66 for the current period, compared to ¥6,951,915.86 in the previous period, reflecting an increase of around 35.5%[51]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,949,270,691.88, a 7.52% increase from CNY 1,812,901,252.26 at the end of the previous year[7]. - Cash and cash equivalents at the end of the reporting period were ¥518,945,538.81, a decrease of 36.04% compared to the beginning of the year, primarily due to payments for the acquisition of Hongsi Electronics and net outflows from operating activities[22]. - Accounts receivable at the end of the reporting period were ¥135,952,571.95, an increase of 237.07% compared to the beginning of the year, mainly due to an increase in customer debts[22]. - Total liabilities increased to CNY 341,927,083.45 from CNY 223,997,125.47, reflecting a rise of about 53%[43]. - Non-current liabilities surged to CNY 166,776,426.99 from CNY 17,377,761.35, indicating a significant increase of approximately 861%[43]. - Owner's equity rose to CNY 1,607,343,608.43 from CNY 1,588,904,126.79, showing a growth of about 1.1%[44]. Cash Flow - The company reported a net cash flow from operating activities of -CNY 156,829,494.02, which is a 24.85% decline compared to -CNY 125,612,312.43 in the previous year[7]. - The net cash flow from operating activities was -145,606,810.40 CNY, compared to -122,448,600.54 CNY in the previous period, indicating a decline of approximately 18.9%[60]. - The cash outflow from operating activities amounted to 274,093,097.20 CNY, compared to 241,960,792.61 CNY in the previous period, marking an increase of about 13.4%[60]. - The company experienced a net decrease in cash and cash equivalents of -307,149,101.15 CNY, compared to -41,398,287.77 CNY in the previous period, indicating a significant decline[62]. Research and Development - The company is focusing on developing IC card Java platforms and expanding into the financial IC card market to create new growth points[11]. - The company plans to enhance its R&D investment to improve innovation capabilities and maintain core competitiveness amid increasing market competition[12]. - The company obtained 31 patents from the National Intellectual Property Administration during the reporting period, including 26 invention patents[24]. - The company reported an increase in the number of patents, including several new methods and systems related to security and data management[25]. - The company maintained steady progress in R&D, production, sales, and management, executing its annual business plan without adjustments[27]. Market and Competition - The company faces risks from market saturation and intensified competition, particularly in the USB Key and OTP product segments[10]. - The company plans to continue leveraging its technological and market advantages to achieve its annual operational goals[27]. Investments and Acquisitions - The company successfully integrated Beijing Hongsi Electronics Technology Co., Ltd., acquiring 91.36% of its equity, which was approved in December 2016[28]. - The total amount of raised funds for the quarter is 61,849,000 RMB, with a cumulative investment of 49,320,960 RMB[32]. - The investment in the USB Key security product's technology upgrade and new product development reached 9,329,900 RMB, achieving a progress rate of 101.02%[32]. - The general Java card platform and smart card R&D project had an adjusted total investment of 7,577,000 RMB, with sales performance not meeting expectations[33]. - The identity authentication cloud platform project planned to invest 13,898,000 RMB, but the market promotion did not achieve the expected results[33]. - The technology R&D center construction project had an adjusted investment total of 11,402,500 RMB, reaching its expected goals[33]. Shareholder Information - The company plans to distribute a cash dividend of 1 RMB per 10 shares based on the total share capital of 418,044,000 shares for the 2016 fiscal year[35]. - The company did not report any overdue commitments from its actual controllers, shareholders, or related parties during the reporting period[30]. - There are no violations regarding external guarantees during the reporting period[36]. - There are no non-operating fund occupations by controlling shareholders or related parties during the reporting period[37]. - The company has not reported any significant changes in cumulative net profit compared to the previous year[36]. - The company has not encountered any issues with the use and disclosure of raised funds[34].