QCEC(SH:600218)2019-04-29 16:00Financial Performance - Operating revenue for the first quarter reached CNY 1,049,406,804.08, representing a 9.04% increase year-on-year[6] - Net profit attributable to shareholders increased by 22.56% to CNY 29,383,111.87 compared to the same period last year[6] - Basic earnings per share increased by 14.29% to CNY 0.08[6] - The net profit for Q1 2019 reached CNY 28,578,198.01, a 22.79% increase from CNY 23,273,613.18 in the same period last year[12] - Total operating revenue for Q1 2019 was ¥1,049,406,804.08, an increase of 9.05% compared to ¥962,427,807.89 in Q1 2018[27] - Net profit for Q1 2019 reached ¥28,578,198.01, representing a 22.99% increase from ¥23,273,613.18 in Q1 2018[28] - The company reported a total profit of ¥34,287,154.80 for Q1 2019, an increase of 18.83% from ¥28,891,214.79 in Q1 2018[28] Assets and Liabilities - Total assets increased by 11.87% to CNY 4,029,847,542.31 compared to the end of the previous year[6] - The company’s total liabilities increased by 30.02% to CNY 1,784,166,833.01, compared to CNY 1,372,180,943.83 at the end of 2018[11] - Total liabilities reached CNY 1,619,263,821.59, with current liabilities at CNY 1,543,227,550.75 and non-current liabilities at CNY 76,036,270.84[40] - Total current assets increased to CNY 2,821,935,704.08, up from CNY 2,407,825,607.07 at the end of 2018[18] - Current liabilities rose to ¥1,921,622,088.31, compared to ¥1,543,227,550.75, marking an increase of about 24.5%[20] - The total liabilities increased to ¥2,005,753,842.65 from ¥1,619,263,821.59, indicating a rise of about 24%[20] Cash Flow - Net cash flow from operating activities improved by 63.79%, reaching -CNY 17,128,626.17[6] - The cash flow from operating activities improved significantly, with a net cash outflow of CNY -17,128,626.17, an improvement of 63.79% compared to CNY -47,300,166.65 in the previous year[12] - The net cash flow from operating activities was -¥17.13 million in Q1 2019, an improvement from -¥47.30 million in Q1 2018[33] - The cash inflow from investment activities totaled approximately ¥211.78 million in Q1 2019, down from ¥852.02 million in Q1 2018, reflecting a significant decrease of 75.2%[33] - The net cash flow from investment activities was ¥174.61 million in Q1 2019, compared to ¥30.80 million in Q1 2018, indicating a substantial increase of 466.5%[33] Shareholder Information - The total number of shareholders reached 53,368 at the end of the reporting period[8] - The largest shareholder, Anhui Quanchai Group Co., Ltd., holds 34.32% of the shares[8] Research and Development - Research and development expenses increased by 46.76% to CNY 31,590,929.14, up from CNY 21,525,778.32 in Q1 2018[12] - The company is focusing on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[20] Changes in Accounting Policies - The company has implemented changes in accounting policies effective from January 1, 2019, impacting financial reporting[9] - The company adjusted its financial reporting standards, impacting the classification of certain financial assets effective January 1, 2019[42] - The company is in compliance with the new financial instrument and leasing standards effective from January 1, 2019[48]