TUNA(SH:603177)2019-04-29 16:00Financial Performance - Net profit attributable to shareholders decreased by 38.16% to CNY -10,040,824.62 year-on-year[5] - Operating revenue decreased by 9.23% to CNY 101,235,609.33 compared to the same period last year[5] - The company reported a basic earnings per share of CNY -0.05, a decrease of 25% compared to the previous year[5] - Operating profit for Q1 2019 was CNY -11,966,007.66, compared to CNY -7,938,850.10 in Q1 2018, indicating a worsening of 50.7%[25] - Net profit for Q1 2019 was -¥9,288,785.26, compared to -¥7,255,238.84 in Q1 2018, reflecting a 28.0% increase in net loss year-over-year[28] - The company reported a total comprehensive loss of -¥9,288,785.26 for Q1 2019, compared to -¥7,255,238.84 in Q1 2018[29] Assets and Liabilities - Total assets decreased by 7.13% to CNY 1,256,382,568.55 compared to the end of the previous year[5] - Total liabilities as of March 31, 2019, were CNY 718,966,637.14, down from CNY 805,498,018.01 at the end of 2018[23] - Shareholders' equity as of March 31, 2019, was CNY 519,880,945.14, a decrease from CNY 529,169,730.40 at the end of 2018[23] - Cash and cash equivalents decreased to CNY 102,362,649.25 from CNY 158,327,024.42 at the end of 2018, a decline of 35.4%[21] - Accounts receivable decreased to CNY 464,929,220.74 from CNY 561,235,860.95, a reduction of 17.2%[22] - Inventory increased to CNY 359,079,227.77 from CNY 333,474,972.73, an increase of 7.7%[22] Cash Flow - Net cash flow from operating activities improved by 31.16%, reaching CNY -55,133,105.46[5] - Cash inflow from operating activities was ¥197,448,716.43 in Q1 2019, an increase from ¥163,652,782.01 in Q1 2018[31] - The net cash flow from operating activities for Q1 2019 was -57,574,365.97 RMB, compared to -80,072,915.70 RMB in Q1 2018, indicating an improvement of approximately 28.1%[33] - The company reported a net cash flow decrease of 82,074,379.35 RMB in Q1 2019, compared to a decrease of 113,285,464.75 RMB in Q1 2018, reflecting an improvement of approximately 27.5%[33] Shareholder Information - The number of shareholders reached 21,878 at the end of the reporting period[9] - The top shareholder, Shaoxing Deneng Fireproof Materials, holds 44.38% of shares, with 89,650,000 shares pledged[9] Expenses and Costs - Total operating costs for Q1 2019 were CNY 113,638,799.13, down from CNY 120,380,764.75 in Q1 2018, reflecting a reduction of 5.8%[25] - Financial expenses increased by 138.77% to ¥3,444,595.63 due to a rise in short-term borrowings compared to the previous year[13] - Research and development expenses for Q1 2019 were CNY 6,000,378.92, compared to CNY 5,406,099.56 in Q1 2018, reflecting an increase of 10.9%[25] - Financial expenses rose significantly to ¥3,456,840.79 in Q1 2019, compared to ¥1,442,782.16 in Q1 2018, indicating a substantial increase in interest costs[28] Other Financial Metrics - The report indicates no significant non-recurring gains or losses affecting the financial results[7] - Cash and cash equivalents decreased by 31.91% to ¥139,710,134.57 compared to the previous year-end due to project execution and concentrated cash inflows in the second half of the year[12] - Prepayments increased by 116.14% to ¥26,827,453.09 as the company prepaid for raw materials to lock in costs[12] - Other receivables rose by 35.21% to ¥43,794,843.41, primarily due to an increase in bid deposits[12] - Construction in progress increased by 57.78% to ¥36,680,866.59 due to the expansion of certain fundraising projects[12] - Long-term deferred expenses increased by 43.77% to ¥1,122,265.86, attributed to dormitory renovations[12] - Advance receipts decreased by 36.93% to ¥18,282,318.25 as some projects were completed during the reporting period[12] - Tax payable decreased by 34.44% to ¥9,336,218.85 due to tax payments made during the period[12]