Sunway(SH:603333)2019-04-22 16:00Financial Performance - Operating revenue surged by 99.60% to CNY 435,549,062.21 year-on-year[6] - Net profit attributable to shareholders reached CNY 19,187,786.67, a significant recovery from a loss of CNY 7,449,524.58 in the same period last year[6] - Basic and diluted earnings per share were CNY 0.04, compared to a loss of CNY 0.01 per share in the previous year[6] - The company anticipates a significant increase in cumulative net profit for the year compared to the previous year, driven by market expansion and improved sales[14] - The total comprehensive income for Q1 2019 was ¥8,682,717.29, compared to a total comprehensive loss of ¥10,738,906.28 in Q1 2018, highlighting a significant improvement in overall financial performance[32] Assets and Liabilities - Total assets increased by 6.23% to CNY 2,386,050,791.49 compared to the end of the previous year[6] - The total liabilities increased by 36.53% to ¥206,635,934.06, primarily due to the issuance of bank notes to pay accounts payable[12] - Total liabilities reached ¥942,758,703.48, compared to ¥830,736,742.64, showing an increase of around 13.5%[19] - The company's equity attributable to shareholders was ¥1,435,942,287.14, slightly up from ¥1,415,458,539.20, indicating a growth of about 1.4%[20] - The total assets amounted to 2,246,195,281.84 RMB, with total liabilities at 830,736,742.64 RMB, leading to total equity of 1,415,458,539.20 RMB[43] Cash Flow - The net cash flow from operating activities was negative at CNY -116,279,047.74, worsening from CNY -97,503,251.65 year-on-year[6] - The company reported a cash flow net amount from operating activities of -¥116,279,047.74, compared to -¥97,503,251.65 in the same period last year, indicating increased accounts receivable[14] - The cash flow from financing activities increased by 43.38% to ¥110,760,949.37, primarily due to increased bank borrowings[14] - The company raised ¥371,350,000.00 through financing activities in Q1 2019, significantly higher than ¥112,000,000.00 raised in Q1 2018[35] - The total cash inflow from financing activities was 344,000,000.00 RMB, while the cash outflow was 239,689,103.97 RMB, resulting in a net cash flow of 104,310,896.03 RMB[38] Shareholder Information - The total number of shareholders reached 20,215, indicating a broadening shareholder base[9] - The largest shareholder, Li Guangyuan, holds 47.98% of the shares, with a total of 249,499,500 shares[9] Research and Development - R&D expenses surged by 246.83% to ¥8,914,923.99, up from ¥2,570,422.82, indicating a strong focus on new product development[13] - Research and development expenses increased to CNY 8,914,923.99 in Q1 2019, up from CNY 2,570,422.82 in Q1 2018, marking a 247.5% rise[26] Inventory and Receivables - Prepaid accounts decreased by 48.14% to CNY 27,748,193.85 due to reduced margin payments for copper purchases[11] - Other receivables increased by 63.07% to CNY 49,677,704.52, attributed to higher business reserves and bid guarantees[11] - Accounts receivable increased to ¥1,220,929,770.35 from ¥1,113,780,518.17, reflecting a growth of approximately 9.6%[17] - The company reported accounts receivable of RMB 921,069,258.00, indicating robust sales performance[45] Operational Efficiency - Operating costs rose to ¥355,667,543.93, reflecting a 91.25% increase from ¥185,968,420.73, primarily due to the increase in operating revenue[13] - The company incurred operating expenses of ¥415,924,582.23 in Q1 2019, compared to ¥326,340,026.21 in Q1 2018, representing an increase of approximately 27.4%[34] - The company has implemented new financial accounting standards effective January 1, 2019, impacting the classification of certain financial assets[49] Market Development - The company has strengthened its market development efforts, leading to a substantial increase in sales revenue and gross margin[14] - The company reported a gross profit of CNY 78,134,868.64 for Q1 2019, compared to CNY 54,540,080.42 in Q1 2018, indicating a gross margin improvement[30]