Ribo Fashion(SH:603196)2019-04-28 16:00Financial Performance - Operating revenue increased by 5.46% to CNY 291,273,615.72 year-on-year[7] - Net profit attributable to shareholders decreased by 85.18% to CNY 2,133,975.28, significantly impacted by high base effects from the previous year[6] - Basic earnings per share fell by 72.05% to CNY 0.0194[6] - The company reported a net profit margin improvement, with net profit for Q1 2019 expected to be higher than the previous year, although specific figures were not disclosed[27] - The net profit for Q1 2019 was CNY 13,122,806.65, compared to CNY 7,944,611.78 in Q1 2018, indicating a year-over-year increase of about 65.5%[33] - The total profit for Q1 2019 was CNY 17,683,329.77, compared to CNY 9,958,208.72 in Q1 2018, marking an increase of around 77.3%[33] Cash Flow - Cash flow from operating activities dropped by 81.02% to CNY 8,995,111.60 compared to the same period last year[6] - Net cash flow from operating activities fell by 81.02% from CNY 47,395,184.47 to CNY 8,995,111.60, attributed to periodic payments[16] - The net cash flow from operating activities in Q1 2019 was CNY 8.99 million, a significant decrease of 81.01% compared to CNY 47.40 million in Q1 2018[35] - The cash flow from operating activities in Q1 2019 was impacted by a total cash outflow of CNY 337.88 million, compared to CNY 299.37 million in Q1 2018, reflecting a 12.85% increase[35] Assets and Liabilities - Total assets decreased by 6.50% to CNY 1,197,669,225.64 compared to the end of the previous year[6] - Total current assets decreased from CNY 869,927,695.06 to CNY 789,552,210.76, a decline of 9.8%[19] - Long-term equity investments dropped by 34.35% from CNY 4,531,569.59 to CNY 2,974,750.70, primarily due to increased losses from joint ventures[15] - Accounts payable decreased by 38.15% from CNY 164,490,401.62 to CNY 101,739,281.95, mainly due to changes in payment cycles[15] - Total liabilities as of March 31, 2019, amounted to CNY 168,495,305.92, down from CNY 209,870,814.18 at the end of 2018, indicating a reduction of 19.7%[26] - The company's total equity as of March 31, 2019, was CNY 952,744,185.07, an increase from CNY 939,621,378.42 at the end of 2018[26] Expenses - Management expenses decreased by 10.25% due to restructuring efforts initiated at the end of 2018[7] - Financial expenses increased by 41.17% from CNY 1,175,881.24 to CNY 1,660,001.50, mainly due to higher loan interest expenses[15] - Research and development expenses for Q1 2019 amounted to CNY 6,407,703.65, down from CNY 8,251,537.82 in Q1 2018, reflecting a decrease of approximately 22.3%[32] - The company's sales expenses increased to CNY 16,275,502.05 in Q1 2019 from CNY 13,465,659.09 in Q1 2018, representing a rise of approximately 20.8%[32] Shareholder Information - The company had a total of 17,833 shareholders at the end of the reporting period[12] - The largest shareholder, Shanghai Ribow Investment Holding Co., Ltd., holds 54.00% of the shares[12] Other Income and Gains - Non-recurring gains and losses totaled CNY 2,531,137.94 for the period[10] - Other income rose by 32.28% from CNY 894,629.08 to CNY 1,183,386.49, primarily due to increased government subsidies[15] - Investment income decreased significantly by 66.62% from CNY 1,795,058.01 to CNY 599,200.49, mainly due to increased losses from joint ventures[15] Inventory and Current Assets - Inventory decreased from CNY 377,746,155.75 to CNY 319,576,794.79, reflecting a reduction in stock levels[19] - Other current assets fell by 39.72% from CNY 158,110,000.00 to CNY 95,310,368.48, mainly due to the redemption of financial products[15] Tax and Fees - The company reported a significant decrease in tax and additional fees by 31.38% from CNY 2,569,565.79 to CNY 1,763,155.04, due to a reduction in value-added tax[15] Future Plans - The company plans to focus on market expansion and new product development in the upcoming quarters to drive growth[27]