First(SH:603806)2019-05-06 16:00Financial Performance - Total revenue for the first quarter reached ¥1,614,589,622.06, representing a 52.39% increase compared to ¥1,059,511,873.23 in the same period last year[5] - Net profit attributable to shareholders was ¥215,985,514.44, up 112.56% from ¥101,610,076.27 year-on-year[5] - Basic earnings per share rose to ¥0.41, a 64.00% increase from ¥0.25 in the same quarter last year[5] - The weighted average return on equity increased to 3.81%, up 1.81 percentage points from 2.00% in the previous year[5] - The company reported a net profit increase, with retained earnings rising to ¥3,623,744,049.94 from ¥3,407,758,535.50, an increase of about 6.3%[18] - The company reported a gross profit margin of approximately 10.3% for Q1 2019, compared to 10.3% in Q1 2018[24] - The company reported a decrease in financial expenses, with interest expenses down to ¥472,328.05 from ¥1,883,390.22 in Q1 2018[26] Cash Flow - The net cash flow from operating activities was negative at ¥-184,668,373.18, a significant decline of 1,037.90% compared to ¥-16,228,910.50 in the previous year[5] - Cash flow from operating activities showed a net outflow of ¥184,668,373.18 in Q1 2019, worsening from a net outflow of ¥16,228,910.50 in Q1 2018[67] - The net cash flow from operating activities was -175,127,252.69 RMB, a significant decline compared to 6,145,007.95 RMB in the same quarter last year[30] - Investment activities generated a net cash inflow of ¥192,817,025.71 in Q1 2019, compared to a net outflow of -¥18,929,158.17 in Q1 2018[29] - The net cash flow from investment activities improved to 164,590,884.32 RMB, compared to -43,545,730.54 RMB in the previous year[30] Assets and Liabilities - Total assets at the end of the reporting period were ¥6,671,544,713.55, a 3.34% increase from ¥6,455,917,796.66 at the end of the previous year[5] - Total liabilities amounted to ¥897,803,695.41, slightly down from ¥900,193,091.88, a decrease of approximately 0.43%[18] - Current assets totaled ¥4,171,131,361.28, compared to ¥3,998,006,491.92, indicating an increase of about 4.33%[20] - Accounts receivable rose to ¥2,574,404,041.98 from ¥2,057,422,215.20, reflecting a significant increase of approximately 25.1%[20] - Inventory decreased to ¥482,800,919.56 from ¥641,104,189.46, showing a decline of about 24.7%[20] - Total equity attributable to shareholders reached approximately $5.55 billion, with total equity amounting to $5.56 billion[34] Shareholder Information - The total number of shareholders at the end of the reporting period was 10,002[8] - The largest shareholder, Hangzhou Foster Technology Group, holds 53.63% of the shares, totaling 280,271,414 shares[10] Government Support and Subsidies - The company received government subsidies amounting to ¥2,215,644.52, which are closely related to its normal operations[6] - The company received CNY 69.22 million in asset disposal income, mainly from compensation for the demolition of the P3 plant[12] Research and Development - R&D expenses in Q1 2019 amounted to ¥47,158,565.42, an increase of 33.0% from ¥35,493,520.03 in Q1 2018[24] - Research and development expenses increased to ¥40,319,950.74 in Q1 2019, compared to ¥28,553,778.18 in Q1 2018, reflecting a 41.1% rise[26] Operational Highlights - Operating revenue increased by CNY 555.08 million, a growth of 52.39%, primarily driven by the expansion of photovoltaic film sales and an increase in high value-added products[12] - Total operating costs for Q1 2019 were ¥1,448,963,898.02, up 52.5% from ¥950,604,660.94 in Q1 2018[24] - The company plans to invest in the P4 film production line and other projects, with a construction in progress increase of CNY 13.19 million, a growth of 23.09%[11]