WFHT(SZ:000581)2019-04-28 16:00Financial Performance - The company's operating revenue for Q1 2019 was ¥2,270,130,717.54, a decrease of 5.09% compared to the same period last year[7] - The net profit attributable to shareholders was ¥689,179,364.60, down 12.12% year-on-year[7] - The net profit after deducting non-recurring gains and losses was ¥613,343,723.80, reflecting an 11.32% decline compared to the previous year[7] - The basic earnings per share were ¥0.68, down 12.82% from ¥0.78 in the same period last year[7] - The weighted average return on net assets was 4.24%, a decrease of 0.91% from the previous year[7] - Net profit for the current period was CNY 699,726,864.34, a decline of 13.0% from CNY 803,728,113.15 in the previous period[61] - The company reported a total comprehensive income of 642,222,277.84 CNY, down from 692,449,767.97 CNY in the previous period[68] Cash Flow - The net cash flow from operating activities increased by 68.27% to ¥145,409,651.46[7] - Net cash flow from operating activities increased by ¥58.99 million, a growth of 68.27%, attributed to a decrease in procurement expenses and an increase in interest income[23] - Cash flow from operating activities generated a net amount of 145,409,651.46 CNY, compared to 86,416,705.11 CNY in the previous period, indicating an increase of 68.4%[72] - The net cash flow from investment activities is ¥235,177,723.70, a significant improvement from a negative cash flow of ¥1,549,745,348.33 in the previous period[79] - Cash inflow from sales of goods and services decreased to ¥1,000,075,407.06, down 34.5% from ¥1,528,777,082.09 in the previous period[76] Assets and Liabilities - Total assets at the end of the reporting period reached ¥22,204,649,523.58, representing a growth of 6.28% from the end of the previous year[7] - The net assets attributable to shareholders amounted to ¥16,603,398,152.41, an increase of 4.33% compared to the previous year[7] - Current assets increased to ¥12,841,285,763.86 as of March 31, 2019, up from ¥11,934,122,603.64 at the end of 2018, representing a growth of approximately 7.58%[38] - Total liabilities reached ¥5,052,443,153.27, up from ¥4,440,070,412.95, which is an increase of about 13.8%[44] - Current liabilities increased to ¥4,474,101,399.46 from ¥3,872,286,284.95, representing a rise of approximately 15.5%[44] Shareholder Information - The top ten shareholders held a combined 66.22% of the company's shares, with the largest shareholder owning 20.22%[11] - Shareholders' equity totaled ¥17,152,206,370.31, compared to ¥16,451,971,047.35 at the end of 2018, reflecting a growth of approximately 4.26%[47] Investment and Expenses - Investment income decreased by ¥162.10 million, a decline of 26.71%, primarily due to reduced earnings from associated companies[22] - Research and development expenses for the current period were CNY 93,170,038.27, an increase of 11.5% compared to CNY 83,458,614.89[58] - Tax expenses increased by ¥4.90 million, a growth of 30.38%, mainly due to increased urban construction tax and education fees[22] Other Financial Metrics - The company reported non-recurring gains and losses totaling ¥75,835,640.80 for the period[7] - Financial expenses decreased by ¥19.53 million, mainly due to increased interest income[22] - Cash and cash equivalents increased to ¥2,819,804,525.07 from ¥2,616,321,740.73, showing a growth of about 7.77%[38] Strategic Developments - The company plans to establish a wholly-owned subsidiary in Denmark to acquire 66% of IRD Fuel Cells A/S for €7.26 million, enhancing its competitiveness in the fuel cell core component sector[27] - The company has not disclosed any new product or technology developments in this report[100] - The company did not report any market expansion or acquisition strategies in the current quarter[100] Accounting and Reporting - The company has not audited the first quarter report[101] - The company will implement new financial instrument accounting standards starting January 1, 2019, as per the Ministry of Finance's revised guidelines[95]