COFC(SZ:000798)2019-04-18 16:00Financial Performance - The company's operating revenue for Q1 2019 was ¥104,377,724.44, a decrease of 14.39% compared to ¥121,921,208.15 in the same period last year[8]. - The net profit attributable to shareholders was -¥22,056,022.97, representing a decline of 219.69% from a profit of ¥18,427,033.84 in the previous year[8]. - The basic earnings per share for the period was -¥0.0690, down 219.58% from ¥0.0577 in the same period last year[8]. - Net profit attributable to the parent company decreased by 220% year-on-year, primarily due to increased investment losses from an associate and the absence of prior year fair value gains[15]. - The company's operating profit for Q1 2019 was a loss of CNY 22,201,315.53, compared to a profit of CNY 18,274,836.17 in the previous year[32]. - The total comprehensive income for Q1 2019 was a loss of CNY 24,448,658.16, compared to a profit of CNY 18,288,938.67 in Q1 2018[33]. Assets and Liabilities - The total assets at the end of the reporting period were ¥979,135,911.05, a decrease of 6.41% from ¥1,046,175,872.60 at the end of the previous year[8]. - Total assets decreased from CNY 1,046,175,872.60 to CNY 979,135,911.05, a decline of approximately 6.4%[28]. - Current liabilities decreased from CNY 220,801,138.80 to CNY 179,090,164.90, a reduction of about 19%[29]. - Total liabilities decreased from CNY 255,717,901.66 to CNY 213,126,598.29, a decline of around 16.7%[29]. - Owner's equity decreased from CNY 790,457,970.94 to CNY 766,009,312.76, a reduction of about 3.1%[29]. Cash Flow - The net cash flow from operating activities was -¥8,516,364.94, an improvement from -¥17,287,177.67 in the previous year[8]. - The company's operating cash flow for Q1 2019 was negative at -8,516,364.94 CNY, an improvement from -17,287,177.67 CNY in the same period last year, indicating a 50.7% reduction in cash outflow[38]. - Investment activities generated a net cash inflow of 28,146,839.25 CNY, significantly higher than 16,212,112.31 CNY in Q1 2018, marking a 73.5% increase[39]. - The net cash flow from financing activities was negative at -26,359,145.34 CNY, compared to -269,731.54 CNY in the same quarter last year[39]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 19,038[11]. - The top three shareholders held a combined 59.18% of the shares, with China Agricultural Development Group Co., Ltd. holding 25.36%[11]. Operational Changes - Significant matters during the reporting period included ship major renovations and changes in accounting policies, which did not have a major impact on the company's profits[17]. - The company is closely monitoring the bankruptcy proceedings of its subsidiary, Xiamen Xinyangzhou Aquatic Products Co., Ltd., which was taken over by a bankruptcy administrator on December 27, 2017[20]. - The controlling shareholder, China Agricultural Development Group, has made commitments to avoid competition with the company, which were partially fulfilled by acquiring the ultra-low temperature tuna longline fishing project[20]. Other Financial Metrics - The company reported non-recurring losses totaling -¥1,530,392.81, including costs related to employee placement and asset impairment[9]. - Management expenses increased by 40% year-on-year, mainly due to higher depreciation, leasing fees, and employee settlement costs related to zombie enterprise disposal[15]. - Financial expenses decreased by 26% year-on-year, primarily due to reduced interest income[15]. - The company reported a 74% increase in net cash flow from investment activities compared to the previous period[16].