CRM(SZ:000927)2017-04-28 16:00Financial Performance - Revenue for the first quarter was CNY 350,022,999, a decrease of 37.46% compared to CNY 559,666,197 in the same period last year[4] - Net profit attributable to shareholders was a loss of CNY 265,829,726.82, representing a decline of 59.29% from a loss of CNY 166,885,523.01 in the previous year[4] - Basic and diluted earnings per share were both CNY -0.1666, a decrease of 59.29% from CNY -0.1046 in the previous year[4] - The company's operating revenue for Q1 2017 was ¥350,022,999, a decrease of 37.46% compared to ¥559,666,197.81 in Q1 2016, primarily due to a reduction in vehicle sales[9] - The net profit attributable to the parent company for Q1 2017 was -¥265,829,726.82, representing a 59.29% increase in losses compared to -¥166,885,523.01 in Q1 2016[9] - The investment income for Q1 2017 was ¥57,757,287.30, down 58.14% from ¥137,974,439.95 in Q1 2016, primarily due to a reduction in the shareholding ratio in Tianjin FAW Toyota[9] Cash Flow and Assets - The net cash flow from operating activities improved by 9.84%, amounting to a loss of CNY 488,565,497.24 compared to a loss of CNY 541,873,603.72 in the same period last year[4] - The cash flow from operating activities for Q1 2017 was -¥488,565,497.24, an improvement of 9.84% compared to -¥541,873,603.72 in Q1 2016, mainly due to a decrease in cash paid for goods[9] - The net cash flow from investment activities for Q1 2017 was ¥835,494.61, a significant increase compared to -¥23,267,610.14 in Q1 2016, mainly due to the recovery of the equity transfer payment from Tianjin FAW Toyota[9] Assets and Shareholder Information - Total assets at the end of the reporting period were CNY 4,799,551,284.12, an increase of 1.92% from CNY 4,709,285,452.91 at the end of the previous year[4] - Net assets attributable to shareholders decreased by 15.65%, totaling CNY 1,432,340,699.11 compared to CNY 1,698,094,956.02 at the end of the previous year[4] - The total number of ordinary shareholders at the end of the reporting period was 43,080[6] - The largest shareholder, China First Automobile Group Co., Ltd., held 47.73% of the shares, totaling 761,427,612 shares[6] Operational Changes - The company's short-term borrowings increased by 234.30% to ¥690,000,000 in Q1 2017 from ¥206,400,000 in Q4 2016, mainly due to increased borrowing from FAW Group[9] - The company's inventory increased by 34.62% to ¥567,458,889.21 in Q1 2017 from ¥421,530,488.15 in Q4 2016, mainly due to an increase in the stock of purchased vehicle components and finished vehicles[9] - The company's construction in progress increased by 150.23% to ¥84,602,393.34 in Q1 2017 from ¥33,809,342.73 in Q4 2016, primarily due to increased investment in the new vehicle U066 project[9] Non-Recurring Items and Commitments - The company reported non-recurring gains and losses totaling CNY 2,778,372.56 during the reporting period[4] - The company has not completed the commitments made by its controlling shareholder, FAW Group, regarding the resolution of competition issues with FAW Car and FAW Xiali, and has requested a three-year extension for compliance[14]