Avary Holding(SZ:002938)2019-04-29 16:00Financial Performance - The company's revenue for Q1 2019 was ¥4,236,931,917.26, a decrease of 13.51% compared to ¥4,898,796,398.44 in the same period last year[4]. - Net profit attributable to shareholders was ¥184,925,706.58, representing a 3.30% increase from ¥179,016,082.03 year-on-year[4]. - Basic and diluted earnings per share were both ¥0.08, down 11.11% from ¥0.09 in the same period last year[4]. - Gross profit margin improved to 5.2% in Q1 2019 from 4.0% in Q1 2018, despite a decline in total operating revenue[26]. - The company reported a comprehensive income total of CNY 176,354,622.33, an increase from CNY 166,543,454.38 in the same quarter last year[27]. Cash Flow - The net cash flow from operating activities decreased by 53.23% to ¥1,216,491,512.04 from ¥2,601,104,995.58 in the previous year[4]. - Cash inflow from operating activities totaled ¥7,136,269,144.13, down from ¥9,432,890,346.81, indicating a decrease of about 24.4%[30]. - Cash outflow from operating activities was ¥5,919,777,632.09, reduced from ¥6,831,785,351.23, reflecting a decrease of approximately 13.3%[30]. - The net cash flow from investing activities was -¥945,398,350.82, worsening from -¥649,194,773.67, indicating a larger cash outflow[30]. - Cash inflow from financing activities was ¥2,187,963,892.04, an increase from ¥1,774,267,379.01, showing a growth of about 23.3%[31]. Assets and Liabilities - Total assets at the end of the reporting period were ¥24,180,657,012.80, a decrease of 11.60% from ¥27,353,470,148.53 at the end of the previous year[4]. - Total liabilities decreased from approximately 9.47 billion RMB at the end of 2018 to about 6.08 billion RMB, a decline of approximately 35.5%[23]. - The company's total equity increased from approximately 17.89 billion RMB at the end of 2018 to about 18.10 billion RMB, an increase of approximately 1.2%[23]. - The company's accounts receivable decreased by 43.59% to ¥3,047,747,047.63 from ¥5,403,106,828.95 due to the recovery of receivables at the end of 2018 and a smaller scale of new receivables in Q1 2019[12]. - Inventory decreased from approximately 2.23 billion RMB at the end of 2018 to about 1.64 billion RMB, a decline of approximately 26.4%[22]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 66,999[7]. - The largest shareholder, Meigang Industrial Co., Ltd., held 66.38% of the shares[7]. - The top ten shareholders collectively hold significant stakes, with the second-largest shareholder, Jihui International Co., Ltd., owning 6.44%[46]. - The company has maintained a stable shareholder structure with no significant changes reported[49]. Expenses and Income - The company's financial expenses decreased by 53.01% to ¥57,463,886.16 from ¥122,300,615.00, primarily due to an increase in interest income[13]. - Interest income surged by 815.87% to ¥43,487,958.25 from ¥4,748,247.11, attributed to the arrival of IPO fundraising[13]. - Research and development expenses decreased to CNY 175,765,381.32, down 21% from CNY 222,325,612.93 in the previous year[26]. - The company reported a financial derivative loss of approximately 352,018.56 RMB during the reporting period[18]. - The company reported a decrease in income tax expenses to ¥248,063,240.18 from ¥596,969,096.15, mainly due to prepayment of corporate income tax in Q1[51]. Future Outlook - The company plans to focus on market expansion and new product development in the upcoming quarters to drive growth[26]. - The company is in the process of increasing capital by $49 million to its wholly-owned subsidiary, Pengding International Co., Ltd.[15]. - The company has established a wholly-owned subsidiary in Singapore with an investment of ¥100 million, while the subsidiary in India is yet to be established[55].