Workflow
万润股份(002643) - 2018 Q1 - 季度财报
ValiantValiant(SZ:002643)2018-04-25 16:00

Financial Performance - The company's operating revenue for Q1 2018 was ¥657,642,184.56, representing a 7.43% increase compared to ¥612,156,580.71 in the same period last year[8]. - Net profit attributable to shareholders decreased by 35.55% to ¥64,124,670.92 from ¥99,488,178.54 year-on-year[8]. - Total profit decreased by 36.46% year-on-year, attributed to increased orders but lower revenue growth compared to cost growth, resulting in reduced product gross margin[16]. - The net profit attributable to shareholders for the first half of 2018 is expected to range from ¥149.56 million to ¥213.66 million, reflecting a decrease of 0% to 30% compared to the same period in 2017[26]. - The expected net profit for the first half of 2018 is not classified as a turnaround situation[26]. Cash Flow and Assets - The net cash flow from operating activities dropped significantly by 62.83%, amounting to ¥95,638,135.14 compared to ¥257,293,820.98 in the previous year[8]. - Cash flow from operating activities decreased by 62.83% year-on-year, primarily due to increased accounts receivable and higher cash payments for taxes and employee compensation[18]. - Total assets at the end of the reporting period were ¥4,526,730,979.06, a decrease of 0.56% from ¥4,552,036,091.34 at the end of the previous year[8]. - The company's cash and cash equivalents increased by 52.98% due to the maturity of financial products purchased with idle funds[15]. - The impact of exchange rate changes on cash and cash equivalents was -11,207,455.15 yuan, compared to -672,242.67 yuan in the same period last year[19]. Expenses and Costs - Basic and diluted earnings per share both fell by 36.36% to ¥0.07 from ¥0.11 in the same period last year[8]. - Management expenses increased by 30.97% compared to the same period last year, primarily due to increased research and development costs[16]. - Financial expenses surged by 675.65% year-on-year, mainly due to exchange rate fluctuations leading to increased foreign exchange losses[16]. - Cash paid for taxes increased by 32.12% year-on-year, mainly due to higher corporate income tax payments[17]. - Cash paid for other operating activities increased by 41.73% year-on-year, primarily due to increased research and development expenses[17]. Receivables and Prepayments - Accounts receivable increased by 43.95% as a result of receiving outstanding bank acceptance bills[15]. - Prepayments surged by 117.58% due to increased advance payments for raw materials[15]. - The company reported a significant increase of 770.7% in advance receipts, indicating a rise in pre-receipt business activities[15]. Comprehensive Income - Other comprehensive income showed a negative value of -¥58,214,299.53, impacted by foreign exchange differences from the consolidation of overseas subsidiaries[15]. - Other comprehensive income after tax was -43,947,423.01 yuan, compared to -6,979,242.83 yuan in the same period last year, mainly due to foreign currency translation differences from the subsidiary Valiant USA LLC[17]. Future Outlook and Commitments - The company anticipates a decline in product gross margin due to the impact of exchange rate fluctuations, as the majority of its products are exported[26]. - Increased research and development expenditures compared to the previous year are expected to contribute to changes in net profit attributable to shareholders[26]. - The company has committed to not using idle raised funds for risk investments or providing financial assistance to entities outside of its controlling subsidiaries[25]. - There are no reported violations regarding external guarantees during the reporting period[28]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or their affiliates during the reporting period[29]. - No research, communication, or interview activities were conducted during the reporting period[30]. - The company is currently fulfilling its commitments as outlined in the reports[25][28]. Business Operations - The company’s performance is primarily influenced by export-oriented product sales[26].