2019-04-25 16:00Financial Performance - Net profit attributable to shareholders increased by 524.6% to CNY 188,182 thousand from CNY 30,129 thousand in the same period last year[4] - Operating revenue rose by 31.1% to CNY 13,458,154 thousand compared to CNY 10,267,637 thousand in the previous year[4] - Basic and diluted earnings per share increased by 400.0% to CNY 0.01 from CNY 0.002 in the previous year[4] - Total operating revenue for Q1 2019 was 13,458,154 thousand RMB, an increase from 10,267,637 thousand RMB in Q1 2018, representing a growth of approximately 31.4%[21] - Net profit for Q1 2019 reached 188,182 thousand RMB, significantly higher than 30,129 thousand RMB in Q1 2018, marking an increase of approximately 524.5%[22] - The company reported a profit before tax of 268,862 thousand RMB for Q1 2019, compared to 49,284 thousand RMB in Q1 2018, representing a substantial increase of approximately 445%[21] Assets and Liabilities - Total assets increased by 3.8% to CNY 63,232,377 thousand compared to the end of the previous year[4] - Total liabilities increased to RMB 57,106,395 thousand from RMB 55,126,305 thousand year-over-year[17] - Current assets totaled RMB 34,073,830 thousand, an increase from RMB 32,013,819 thousand in 2018[16] - The total assets as of the end of Q1 2019 were 32,305,281 thousand RMB, slightly down from 32,307,571 thousand RMB at the end of the previous period[20] - Total liabilities for Q1 2019 were 26,574 thousand RMB, a decrease from 27,906 thousand RMB in the previous period[20] Cash Flow - Cash flow from operating activities improved, with a net cash flow of CNY -1,119,740 thousand, an improvement from CNY -1,864,850 thousand in the same period last year[4] - Operating cash inflow for Q1 2019 was CNY 13,213,466, an increase of 18.9% from CNY 11,108,088 in Q1 2018[25] - Cash flow from financing activities decreased by 51.1% to RMB 1,088,047 thousand from RMB 2,223,531 thousand, primarily due to reduced cash inflow from non-public share issuance[13] - Cash flow from investing activities showed a net outflow of -CNY 83,761, compared to -CNY 214,454 in Q1 2018[26] - Total cash and cash equivalents at the end of Q1 2019 were CNY 2,023,035, a decrease from CNY 2,698,249 at the end of Q1 2018[26] Shareholder Information - The total number of shareholders at the end of the reporting period was 127,476, with the largest shareholder being China Petroleum & Chemical Corporation holding 56.51%[7] - The company received government subsidies amounting to CNY 5,803 thousand related to normal business operations[5] Research and Development - R&D expenses increased by 36.0% to RMB 163,227 thousand from RMB 120,062 thousand, mainly due to higher investment in the industrialization of mature technologies[12] - Research and development expenses for Q1 2019 amounted to 163,227 thousand RMB, up from 120,062 thousand RMB in Q1 2018, which is an increase of about 36%[21] Financial Expenses - Financial expenses surged by 153.6% to RMB 282,661 thousand from RMB 111,444 thousand, attributed to increased interest expenses from larger loan scales[12] - Financial expenses in Q1 2019 were 282,661 thousand RMB, compared to 111,444 thousand RMB in Q1 2018, indicating a significant rise of approximately 153%[21] Inventory and Prepayments - The company’s inventory as of March 31, 2019, was RMB 1,570,266 thousand, compared to RMB 1,411,638 thousand in the previous year[16] - Prepayments increased by 93.2% to CNY 859,346 thousand primarily due to increased engineering material preparation[11] Other Financial Information - The company reported a net loss of RMB 25,241,179 thousand in Q1 2019, slightly improved from a loss of RMB 25,429,361 thousand in the same period last year[17] - The company reported a retained earnings deficit of -$25,429,361, indicating accumulated losses[31] - Long-term borrowings remained stable at $536,291[31] - The company has not applied new financial instrument standards or new lease standards for prior period adjustments[32] - No audit report was applicable for this quarter[32]