凤竹纺织(600493) - 2019 Q1 - 季度财报

Financial Performance - Operating revenue for the period reached CNY 256,453,069.11, a 47.08% increase year-on-year [6] - Net profit attributable to shareholders increased by 17.15% to CNY 6,899,925.59 compared to the same period last year [6] - The net profit after deducting non-recurring gains and losses surged by 90.13% to CNY 6,000,465.31 [6] - The weighted average return on equity rose by 11.31 percentage points to 0.9549% [6] - Total operating revenue for Q1 2019 reached ¥256,453,069.11, a 47.1% increase from ¥174,364,363.55 in Q1 2018 [26] - Net profit for Q1 2019 was ¥6,899,925.59, representing a 17.1% increase compared to ¥5,889,647.22 in Q1 2018 [27] - The company reported a total profit of ¥7,539,474.41 for Q1 2019, up from ¥7,346,991.28 in Q1 2018 [26] Cash Flow - Cash flow from operating activities showed a significant improvement, with a net cash flow of CNY -152,298.32 compared to CNY -7,579,683.55 in the previous year [6] - The company reported a net cash flow from operating activities of -15.23 million RMB, a significant increase in cash outflow compared to -757.97 million RMB in the previous year [13] - Cash inflow from operating activities in Q1 2019 totaled ¥262,786,823.67, compared to ¥241,171,124.02 in Q1 2018, indicating an increase of 8.9% [30] - The total cash inflow from operating activities was ¥228,086,713.12, up 52% from ¥149,940,038.90 in the same period last year [33] - The company reported a total cash outflow of ¥148,784,598.32 from operating activities, a slight decrease from ¥154,050,853.43 in Q1 2018 [33] - The net increase in cash and cash equivalents for Q1 2019 was ¥24,316,561.06, contrasting with a decrease of ¥29,382,374.11 in Q1 2018, indicating a positive cash flow trend [34] Assets and Liabilities - Total assets increased by 1.85% to CNY 1,398,309,723.13 compared to the end of the previous year [6] - Construction in progress increased by 30.35% to CNY 88,991,500 due to investments in the new factory project [12] - Intangible assets surged by 155.53% to CNY 198,400,300 primarily due to land rights acquisition by the subsidiary [12] - Current liabilities decreased to CNY 573,044,881.38 from CNY 589,212,619.99, a reduction of about 2.0% [22] - Non-current liabilities increased to CNY 99,255,158.54 from CNY 64,530,821.44, representing a significant rise of approximately 54% [22] - Total liabilities rose to CNY 672,300,039.92, up from CNY 653,743,441.43, indicating an increase of about 2.5% [22] - Owner's equity totaled CNY 726,009,683.21, slightly up from CNY 719,109,757.62, showing a growth of approximately 1.1% [22] Expenses - Sales expenses increased by 85.03% to CNY 468,810, mainly due to salary and export insurance costs [12] - Research and development expenses for Q1 2019 were ¥3,341,926.60, slightly down from ¥3,401,107.79 in Q1 2018 [26] - The company paid ¥24,578,360.66 in employee compensation during Q1 2019, up from ¥22,012,891.86 in Q1 2018, reflecting a 12% increase in labor costs [33] Investments - Investment activities generated a cash outflow of -8,803.76 million RMB, up from -1,584.99 million RMB year-on-year, primarily due to increased investment in the new factory project [13] - The new factory project in An Dong is expected to have an annual production capacity of 100,000 tons of knitted printed fabric, 7,500 tons of knitted printed cloth, and 3,000 tons of yarn, with a total investment of approximately 850 million RMB [14] - The main structure of the new factory has been completed and is currently undergoing renovation, with production expected to commence in October 2019 [15] - The company has completed land reserve matters for the new project in Anyang, with relevant land use certificates obtained [17] Current Assets - The company’s total current assets as of March 31, 2019, amounted to 732.20 million RMB, slightly up from 729.08 million RMB at the end of 2018 [20] - Accounts receivable increased to 146.05 million RMB from 139.02 million RMB year-on-year, indicating a growth in sales [20] - Inventory decreased to 214.98 million RMB from 230.58 million RMB, reflecting improved inventory management [20] - Accounts receivable decreased to CNY 98,928,452.21 from CNY 111,461,933.21, a decline of approximately 11.2% [24] - Inventory decreased to CNY 157,844,606.74 from CNY 163,691,684.39, reflecting a decrease of about 3.6% [24] - The company reported a total current asset of CNY 650,797,254.85, up from CNY 590,889,798.38, indicating an increase of approximately 10.1% [24]