ST鼎龙(002502) - 2018 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2018 was ¥30,574,460.20, a decrease of 86.08% compared to ¥219,659,400.71 in the same period last year[4]. - The net profit attributable to shareholders was ¥6,178,042.20, down 93.16% from ¥90,268,080.25 year-on-year[4]. - The net profit after deducting non-recurring gains and losses was ¥5,153,124.39, reflecting a 93.81% decline from ¥83,214,994.99 in the previous year[4]. - Basic and diluted earnings per share were both ¥0.0072, down 92.80% from ¥0.10 in the previous year[4]. - The weighted average return on equity was 0.18%, a decrease of 2.69% from 2.87% year-on-year[4]. - Total revenue decreased by 86.08% to ¥30,574,460.20 compared to ¥219,659,400.71 in the previous period due to ongoing filming of TV dramas[13]. - The net profit attributable to the parent company decreased by 93.16% to ¥6,178,042.20 from ¥90,268,080.25[14]. - The net profit attributable to shareholders for the first half of 2018 is expected to range from 53.38 million to 122.02 million RMB, representing a decrease of 20% to 65% compared to 152.52 million RMB in the same period of 2017[23]. - The decline in net profit is primarily due to the lack of significant revenue recognition from the film and television business, as new dramas were still in production and could not deliver the master tapes for revenue recognition[23]. Cash Flow and Assets - The net cash flow from operating activities was -¥79,466,256.44, a significant increase of 1,415.03% compared to -¥5,245,197.59 in the same period last year[4]. - Total assets at the end of the reporting period were ¥3,831,845,476.26, an increase of 1.93% from ¥3,759,374,711.82 at the end of the previous year[4]. - The net assets attributable to shareholders were ¥3,457,142,266.72, a slight decrease of 0.47% from ¥3,473,631,469.90 at the end of the previous year[4]. - Cash flow from operating activities showed a significant increase of 1415.03%, resulting in a net outflow of ¥79,466,256.44 compared to ¥5,245,197.59 in the previous period[14]. Operational Changes - Operating costs fell by 97.01% to ¥3,544,451.71 from ¥118,537,577.82, as no related income could be recognized during the filming[13]. - Other current liabilities decreased by 87.06% to ¥379,164.21 from ¥2,930,241.96, mainly due to a reduction in tax expenses[12]. - Inventory increased by 73.32% to ¥391,661,917.95 from ¥225,978,386.84, attributed to rising costs related to ongoing TV drama productions[12]. - Prepayments rose by 78.99% to ¥41,884,285.35 from ¥23,399,778.57, primarily for advance payments for novel copyrights[12]. - Deferred tax assets increased by 101.21% to ¥13,897,435.36 from ¥6,906,867.65, mainly due to fair value adjustments of financial assets[12]. Corporate Strategy and Commitments - The company plans to issue corporate bonds totaling up to ¥900 million, increasing from the previous limit of ¥600 million, with a stable credit rating outlook[15]. - The company has received a credit rating of AA for its long-term credit, with the bond rating at AAA, indicating strong financial stability[15]. - The company committed to a performance compensation promise, allowing for 25% of shares to be transferable after 24 months from the end of the issuance[17]. - A total of 3.9% of equity was paid in cash and 5.1% in shares for the acquisition of a 9% stake in Dream Star Garden[18]. - The company will allow for 75% of shares to be transferable after 36 months from the end of the issuance, contingent on fulfilling all performance commitments[18]. - The company has established a lock-up period of 36 months for shares held by key personnel following the IPO, during which they cannot transfer or manage their shares[20]. - The company has committed to not exceeding 25% of their total shares for transfer during their tenure, and no transfers will occur within six months of leaving the company[20]. - The company has outlined strict compliance measures for its management to ensure no interference in operational management or misappropriation of company interests[20]. - The company has set a performance unlocking condition for shares, which includes the disclosure of annual audit reports and the completion of performance commitments by counterparties[20]. - The company has a strategy to ensure that no shares are pledged or burdened without the company's consent during the performance commitment period[20]. - The company has committed to providing supplementary promises if regulatory requirements change before the completion of its non-public offering[20]. - The company has established a clear framework for accountability, stating that any violations of commitments resulting in losses will lead to legal compensation responsibilities[20]. - The company has emphasized the importance of transparency and fairness in its dealings, ensuring no unfair benefits are provided to other entities or individuals[20]. Business Segments - The company's game business showed an upward trend during the reporting period[24].