LPXD(SZ:002114)2019-04-25 16:00Revenue and Profit - Revenue for Q1 2019 reached ¥444,025,456.96, an increase of 44.49% compared to ¥307,312,068.44 in the same period last year[7] - Net profit attributable to shareholders decreased by 56.79% to ¥3,355,163.91 from ¥7,764,770.90 year-on-year[7] - The net profit for the current period was RMB 3,139,713.93, a decrease of 58.95% compared to the previous period[18] - The total profit for the current period was ¥3,070,947.93, down from ¥10,357,875.08, reflecting a decrease of approximately 70.4%[50] - Basic earnings per share decreased by 50.00% to ¥0.01 from ¥0.02 year-on-year[7] Cash Flow and Liquidity - Net cash flow from operating activities fell by 89.14% to ¥2,593,639.71 from ¥23,879,283.58 in the same period last year[7] - The cash flow from operating activities showed a net outflow of RMB 2,593,639.71, a decline of 89.14% compared to the previous year[23] - The company's cash and cash equivalents decreased by 32.74% to RMB 60,664,545.65, mainly due to timely payments for goods[14] - Cash and cash equivalents at the end of the period were RMB 32,889,214.80, a decrease of 45.61% from the beginning of the period[23] - The ending cash and cash equivalents balance was CNY 32,889,214.80, down from CNY 60,469,117.42 in the previous year[59] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,139,009,040.06, down 2.51% from ¥2,194,100,379.94 at the end of the previous year[7] - Total current assets decreased from 424,837,753.64 yuan at the end of 2018 to 385,768,483.75 yuan by March 31, 2019[39] - Current liabilities decreased from CNY 480,949,229.81 to CNY 423,196,947.75, a reduction of about 12%[41] - Total liabilities decreased from CNY 646,504,223.64 to CNY 587,848,281.97, a decline of approximately 9%[41] - Non-current assets totaled CNY 1,753,240,556.31, down from CNY 1,769,262,626.30, reflecting a decrease of approximately 0.9%[40] Shareholder Information - The company reported a total of 34,993 common shareholders at the end of the reporting period[10] - The largest shareholder, Luoping Zinc & Electricity Co., Ltd., holds 27.40% of the shares, totaling 88,597,600 shares[10] Government Support and Subsidies - The company received government subsidies amounting to ¥10,000,000 during the reporting period[8] - The company received RMB 10,426,908.61 in cash related to operating activities, an increase of 116.51% year-on-year, mainly from government funding[23] Research and Development - Research and development expenses rose by 120.82% to RMB 1,585,460.69, attributed to increased salaries and depreciation of R&D equipment[18] - Research and development expenses rose to ¥1,585,460.69, compared to ¥717,975.44 in the previous period, marking an increase of about 120.4%[48] Legal and Compliance Issues - The company faced multiple lawsuits related to environmental pollution and securities false statements, which are currently pending in court[27][28] Operational Challenges - Accounts receivable increased significantly by 2411.94%, reaching RMB 83,367,955.90, primarily due to delayed payments from related transactions[15] - The company has stopped transactions with related parties that led to significant accounts receivable issues, recovering funds prior to the report's announcement[4] - The company reported a loss from investment activities of ¥3,810,300.08, slightly worse than the loss of ¥3,520,123.05 in the previous period[48] Future Outlook - The company expects to turn a profit in the first half of 2019, with a projected net profit of between 800,000 and 1,180,000 yuan, compared to a net loss of 8,002,310 yuan in the same period last year[31] - The gross profit margin for zinc products is expected to rise due to increased raw material procurement deductions compared to the previous year[31]