CECO(SH:603698)2019-04-26 16:00Financial Performance - Net profit attributable to shareholders decreased by 35.70% to CNY 28,882,876.45 compared to the same period last year[8] - Operating revenue rose by 9.26% to CNY 151,241,521.82 compared to the same period last year[8] - Basic and diluted earnings per share both decreased by 36.36% to CNY 0.07 compared to the same period last year[8] - Net profit decreased by 35.70% to CNY 28,882,876.45, primarily due to project settlement cycles and characteristics[17] - Operating costs increased by 40.38% to CNY 91,336,326.21, influenced by the nature of projects settled during the period[17] - Total operating revenue for Q1 2019 was ¥151,241,521.82, an increase of 9.3% compared to ¥138,428,570.52 in Q1 2018[32] - Net profit for Q1 2019 was ¥28,882,876.45, a decrease of 35.8% from ¥44,919,450.20 in Q1 2018[33] - Earnings per share for Q1 2019 were ¥0.07, down from ¥0.11 in Q1 2018[33] Cash Flow and Liquidity - Net cash flow from operating activities improved significantly to CNY 62,001,063.43, compared to a negative cash flow of CNY -82,955,183.82 in the same period last year[8] - Cash received from sales and services increased by 143.81% to CNY 280,758,045.28, mainly due to higher project advance payments received[17] - Cash flow from operating activities in Q1 2019 was RMB 62,001,063.43, a significant improvement compared to a negative cash flow of RMB -82,955,183.82 in Q1 2018[40] - The company’s cash inflow from operating activities was primarily driven by sales revenue of RMB 268,316,043.09, significantly higher than RMB 93,833,932.92 in the previous year, marking a growth of approximately 186.5%[41] - The net cash flow from operating activities was RMB 62,023,112.92, compared to a negative cash flow of RMB -89,964,690.79 in the same period last year, indicating a turnaround in operational performance[41] Assets and Liabilities - Total assets increased by 5.01% to CNY 3,859,608,207.69 compared to the end of the previous year[8] - Total liabilities reached CNY 1,168,174,932.16, up from CNY 1,013,214,019.10, indicating an increase of approximately 15.3%[26] - Total assets increased to CNY 2,468,260,415.84 from CNY 2,322,946,349.32 at the beginning of the year[22] - Total assets amounted to RMB 3,675,308,251.27, with a slight increase from RMB 3,675,023,481.51[48] - Total liabilities reached RMB 1,013,214,019.10, indicating a stable financial position[48] - Current liabilities rose to CNY 1,090,552,357.23 compared to CNY 934,957,505.86, reflecting an increase of approximately 16.7%[26] Shareholder Information - The total number of shareholders at the end of the reporting period was 24,812[13] - The largest shareholder, China Academy of Launch Vehicle Technology, holds 45.98% of the shares[13] Inventory and Receivables - Accounts receivable decreased by 31.18% to CNY 122,408,997.27 due to payments made for material and equipment purchases[15] - Inventory rose by 50.31% to CNY 250,367,143.37, driven by stockpiling and production based on project schedules[15] - Other receivables increased by 104.89% to CNY 12,793,603.07, mainly due to bid guarantee payments made[15] - Accounts receivable decreased to CNY 558,062,370.60 from CNY 659,348,759.57, a decline of approximately 15.4%[29] - Inventory increased significantly to CNY 179,298,488.06 from CNY 110,200,696.17, representing a growth of about 62.8%[29] Operational Insights - The company has not disclosed any new product developments or market expansion strategies in this report[8] - The company aims to enhance market expansion and product development strategies in the upcoming quarters[36] Other Financial Metrics - The company reported non-operating income of CNY 630,929.76, primarily from government subsidies[12] - Research and development expenses for Q1 2019 were ¥11,435,722.67, slightly down from ¥11,920,677.35 in Q1 2018[32] - The company reported a significant increase in contract liabilities, with a total of ¥615,219,216.14 compared to ¥377,643,546.48 previously[31]