FLYCO(SH:603868)2019-04-22 16:00Financial Performance - Operating income for the reporting period was CNY 845,926,911.43, down 4.39% year-on-year[4] - Net profit attributable to shareholders of the listed company decreased by 6.32% to CNY 163,386,922.80[4] - Basic earnings per share decreased by 5.00% to CNY 0.38[4] - The weighted average return on net assets decreased by 0.88 percentage points to 6.10%[4] - Total revenue for Q1 2019 was CNY 845,926,911.43, a decrease of 4.4% compared to CNY 884,748,834.39 in Q1 2018[21] - Net profit for Q1 2019 was CNY 162,968,227.20, compared to CNY 174,415,242.87 in Q1 2018, representing a decline of about 6.6%[22] - Operating profit for Q1 2019 was CNY 200.13 million, down 10.63% from CNY 223.80 million in Q1 2018[24] - Net profit for Q1 2019 was CNY 150.21 million, a decrease of 10.75% from CNY 168.34 million in Q1 2018[24] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,510,535,053.06, a decrease of 5.05% compared to the end of the previous year[4] - Total current assets decreased to approximately $2.33 billion as of March 31, 2019, down from $2.56 billion at the end of 2018, representing a decline of about 8.8%[13] - Total liabilities decreased to approximately $748.5 million from $1.09 billion, a reduction of about 31.5%[15] - Total assets decreased to approximately $3.51 billion from $3.70 billion, a decline of about 5.1%[15] - Total liabilities decreased to CNY 509,482,491.68 from CNY 879,173,730.18, indicating a significant reduction of about 42.0%[20] - Total equity increased to CNY 2,605,627,237.86 from CNY 2,458,625,255.59, reflecting an increase of approximately 6.0%[20] Cash Flow - Net cash flow from operating activities was CNY 37,935,747.80, an increase of 1.78% compared to the same period last year[4] - Cash flow from operating activities totaled CNY 1,193,134,568.59 in Q1 2019, an increase of 12.6% from CNY 1,059,188,378.08 in Q1 2018[30] - Cash flow from investing activities showed a net outflow of CNY 491.73 million in Q1 2019, compared to a net outflow of CNY 3.10 million in Q1 2018[28] - The company achieved a net cash outflow from investing activities of RMB -491,731,263.21, significantly impacted by increased short-term financial product purchases[10] Shareholder Information - The total number of shareholders at the end of the reporting period was 12,891[7] - The largest shareholder, Shanghai Feike Investment Co., Ltd., holds 80.99% of the shares[7] Research and Development - Research and development expenses increased by 66.68% to RMB 16,046,116.71, driven by higher salaries and material costs for R&D personnel[9] - Research and development expenses for Q1 2019 were CNY 16,046,116.71, up from CNY 9,627,088.39 in Q1 2018, marking a significant increase of about 66.0%[21] Non-Recurring Items - Non-recurring gains and losses amounted to CNY 12,188,103.00 for the reporting period[6] - The company reported a 130.15% increase in non-operating income to RMB 6,919,352.47, primarily due to an increase in government subsidies unrelated to daily activities[10] Financial Management - The company has authorized management to use up to RMB 2 billion for low-risk financial products, with a total of RMB 965.5 million in principal recovered and RMB 4.8156 million in income realized during the reporting period[11] - The company reported a significant reduction in short-term borrowings, indicating improved liquidity management[15] Inventory and Receivables - Accounts receivable decreased by 47.12% to RMB 289,413,403.39 primarily due to a reduction in receivables from customers with extended credit terms[9] - Inventory decreased to approximately $547.7 million from $563.4 million, a decrease of about 2.8%[14]