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青岛双星(000599) - 2019 Q1 - 季度财报
DOUBLESTARDOUBLESTAR(SZ:000599)2019-04-28 16:00

Financial Performance - The company's operating revenue for Q1 2019 was ¥1,113,554,121.57, representing a year-on-year increase of 13.06% compared to ¥984,884,337.52 in the same period last year[8]. - The net profit attributable to shareholders decreased by 47.48% to ¥14,122,438.17 from ¥26,890,768.42 in the previous year[8]. - The net profit after deducting non-recurring gains and losses was -¥37,580,719.24, a significant decline of 4,721.33% compared to ¥813,200.56 in the previous year[8]. - The weighted average return on net assets decreased to 0.38% from 0.83% in the previous year[8]. - The basic earnings per share fell by 43.33% to ¥0.017 from ¥0.03 in the same period last year[8]. - Net profit for the current period was ¥11,865,000.75, down from ¥26,799,758.30, indicating a decline of approximately 55.7%[41]. - The total profit for the current period was ¥15,342,787.75, down from ¥32,562,023.38, a decrease of approximately 52.8%[41]. - Other income decreased to ¥11,192,372.54 from ¥30,165,852.57, a decline of approximately 62.9%[39]. - The company experienced a tax expense of ¥3,477,787.00, down from ¥5,762,265.08, a decrease of approximately 39.8%[41]. Cash Flow and Liquidity - The net cash flow from operating activities improved by 90.68%, reaching -¥34,573,752.48, compared to -¥371,130,422.65 in the same period last year[8]. - As of March 31, 2019, the company's cash and cash equivalents amounted to ¥1,013,252,838.19, an increase from ¥875,997,061.14 at the end of 2018, reflecting a growth of approximately 15.7%[30]. - Cash flow from operating activities amounted to ¥1,066,293,697.55, compared to ¥925,552,706.94 in the previous period, showing an increase of about 15.2%[47]. - The ending balance of cash and cash equivalents was CNY 956,492,418.62, up from CNY 711,624,570.83, reflecting an increase of about 34.4%[49]. - The company reported a net increase in cash and cash equivalents of CNY 248,004,553.51, compared to CNY 474,689,114.79 in the previous year, indicating a decrease of about 47.8%[49]. Assets and Liabilities - The total assets at the end of the reporting period were ¥9,249,512,993.05, a decrease of 2.23% from ¥9,460,949,995.97 at the end of the previous year[8]. - Total assets increased to CNY 9,167,269,443.57, up from CNY 8,965,479,610.36, representing a growth of approximately 2.25%[31]. - Current liabilities decreased to CNY 4,071,096,942.29 from CNY 4,379,276,687.47, a reduction of about 7%[32]. - The total liabilities amounted to CNY 5,310,289,217.01, compared to CNY 5,113,702,279.83, an increase of about 3.86%[32]. - The company's total non-current assets were CNY 4,173,633,961.55, slightly down from CNY 4,186,621,160.32, a decrease of about 0.30%[31]. Investments and Financing - The company invested RMB 899 million in Shandong Hengyu Technology Co., Ltd. for restructuring, approved by the board meeting and the temporary shareholders' meeting[16]. - The company engaged in derivative investments, with a total investment amount of RMB 3,469.5 million in forward foreign exchange contracts[20]. - The company reported a total of RMB 1,388 million in derivative investments at the end of the reporting period, representing 0.38% of the company's net assets[20]. - Financing cash inflow reached CNY 1,627,436,050.00, an increase from CNY 920,386,026.06, representing an increase of approximately 76.8%[49]. - Total cash inflow from financing activities was CNY 1,627,436,050.00, while cash outflow was CNY 1,296,688,264.02, resulting in a net cash flow of CNY 330,747,785.98[49]. Operational Developments - The company is actively exploring new retail models and has partnered with major e-commerce platforms like JD.com to create a comprehensive ecosystem for the tire industry[15]. - The closure and upgrade of the subsidiary's tire factory have led to increased expenses, impacting profitability in the short term[15]. - The company has initiated a project for a "green tire industrial 4.0 demonstration base," which is currently in the optimization and capacity enhancement phase[15]. - The company has not disclosed any new product or technology developments in the current report[16]. - There are no reported mergers or acquisitions during the reporting period[16]. Governance and Compliance - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[25]. - There were no violations regarding external guarantees during the reporting period, indicating a stable financial position[24]. - The independent directors affirmed that the company's foreign exchange transactions align with its operational needs and comply with relevant laws and regulations[22]. - The company has established a derivative trading management system to enhance risk management and prevent investment risks[22]. - The company did not implement any share buybacks during the reporting period[16].