ST万林(603117) - 2019 Q1 - 季度财报

Financial Performance - Operating revenue increased by 13.58% to CNY 218,019,396.29 year-on-year[5] - Net profit attributable to shareholders decreased by 24.89% to CNY 22,544,714.41 compared to the same period last year[5] - Basic earnings per share decreased by 42.86% to CNY 0.04[5] - The company reported a significant decline in net profit, indicating potential challenges in maintaining profitability moving forward[5] - The company reported a net profit margin improvement, with net profit for Q1 2019 expected to reflect the growth in revenue despite increased costs[27] - The company's net profit for Q1 2019 was CNY 28,877,336.52, a decrease of 14.4% compared to CNY 33,809,722.78 in Q1 2018[28] - Operating profit for Q1 2019 was CNY 35,686,638.60, down 21.5% from CNY 45,418,327.99 in Q1 2018[28] - The total comprehensive income for Q1 2019 was CNY 29,976,206.73, down from CNY 34,573,323.07 in Q1 2018[29] Cash Flow - Cash flow from operating activities showed a significant negative change, with a net cash outflow of CNY 468,540,206.32[5] - In Q1 2019, the company reported a net cash flow from operating activities of -468,540,206.32 RMB, compared to -139,325,058.11 RMB in Q1 2018, indicating a significant decline in operational cash flow[32] - Total cash inflow from operating activities was 2,438,407,208.94 RMB, while cash outflow was 2,906,947,415.26 RMB, resulting in a cash flow deficit[32] - The company experienced a net cash flow from investing activities of -29,656,784.60 RMB in Q1 2019, compared to -6,731,063.07 RMB in Q1 2018, reflecting increased investment expenditures[33] - Cash inflow from financing activities was 397,183,477.06 RMB, a substantial increase from 99,233,078.33 RMB in the previous year, indicating enhanced financing efforts[33] - The company’s cash flow from financing activities showed a significant improvement, with a net cash flow of 381,454,599.91 RMB in Q1 2019 compared to 10,570,194.39 RMB in Q1 2018[33] Assets and Liabilities - Total assets decreased by 10.41% to CNY 5,625,710,185.08 compared to the end of the previous year[5] - The company's total liabilities decreased to CNY 3,131,605,688.21 in Q1 2019 from CNY 3,824,412,204.84 in Q4 2018, a reduction of approximately 18.1%[22] - Current liabilities totaled CNY 2,854,530,092.85 in Q1 2019, down from CNY 3,561,661,376.40 in Q4 2018, representing a decrease of about 19.8%[22] - Non-current liabilities increased slightly to CNY 277,075,595.36 in Q1 2019 from CNY 262,750,828.44 in Q4 2018, an increase of approximately 5%[22] - The company's total assets decreased to CNY 4,125,094,858.13 in Q1 2019 from CNY 4,685,533,261.54 in Q4 2018, a decline of about 12%[24] - The company's total liabilities increased, impacting its cash flow management and operational efficiency[37] Shareholder Information - The number of shareholders reached 31,388 at the end of the reporting period[10] - The largest shareholder, Shanghai Huirui Industrial Co., Ltd., holds 22.17% of the shares, amounting to 143,517,550 shares[10] Expenses - Operating costs rose by 49.95% to ¥127,795,649.72 from ¥85,226,796.89 driven by the expansion of the Gabon timber business[14] - Tax expenses increased by 56.80% to ¥7,860,463.61 from ¥5,013,140.60 due to the growth of the Gabon timber business[14] - Financial expenses surged by 262.56% to ¥20,449,349.15 from ¥5,640,285.21 due to increased interest expenses and exchange rate fluctuations[14] - The company's financial expenses in Q1 2019 were CNY 20,449,349.15, significantly higher than CNY 5,640,285.21 in Q1 2018[28] - The tax expenses for Q1 2019 were CNY 7,355,432.25, compared to CNY 11,264,344.61 in Q1 2018, reflecting a decrease of 34.5%[28] Investments - Long-term equity investments increased by 36.28% to ¥10,776,907.26 from ¥7,907,837.19 due to new acquisitions of company shares[13] - Investment income rose by 73.84% to ¥2,687,482.65 from ¥1,545,924.22 attributed to equity method accounting for joint ventures[14] - The company achieved a net investment income from joint ventures of CNY 12,521,535.34 in Q1 2019, a significant recovery from a loss of CNY 219,414.98 in Q1 2018[31] Future Outlook - The company plans to focus on market expansion and new product development in the upcoming quarters to drive future growth[27]