天海防务(300008) - 2019 Q1 - 季度财报

Financial Performance - Total revenue for Q1 2019 was ¥199,307,974.31, a decrease of 54.17% compared to ¥434,882,103.66 in the same period last year[7] - Net profit attributable to shareholders was -¥4,723,657.48, representing a decline of 172.72% from ¥6,495,867.17 year-on-year[7] - Net profit after deducting non-recurring gains and losses was -¥8,362,981.86, a decrease of 265.59% compared to ¥5,050,417.82 in the previous year[7] - Basic and diluted earnings per share were both -¥0.0049, down 172.06% from ¥0.0068 in the previous year[7] - The company reported a total of ¥65.48 million in prepayments, which is an increase from ¥54.60 million, marking a rise of approximately 20.5%[78] - The total comprehensive income amounted to ¥-80.01 million, compared to ¥-1.95 million in the previous period, indicating a significant increase in losses[111] - The company reported a net profit of ¥-80.01 million, which is an improvement from ¥-1.95 million in the previous period[111] Cash Flow - Operating cash flow for the period was ¥5,285,112.19, a significant improvement of 105.52% from -¥95,759,274.12 in the same period last year[7] - The net cash flow from operating activities increased by 105.52% year-on-year, due to the completion of a major EPC project in the previous year[27] - The net cash flow from investing activities increased by 97.97% year-on-year, as payments for equity acquisitions were suspended[27] - The net cash flow from financing activities decreased by 269.51% year-on-year, due to a decline in borrowings[27] - The cash inflow from operating activities totaled $76,705,495.97, while cash outflow was $21,143,229.10, indicating strong operational performance[121] - Cash inflow from financing activities was $50,000,000.00, with total cash outflow reaching $83,507,648.25, leading to a net cash flow of -$33,507,648.25[124] Assets and Liabilities - Total assets at the end of the reporting period were ¥2,347,362,089.00, a slight decrease of 0.52% from ¥2,359,709,293.05 at the end of the previous year[7] - Total current assets amounted to approximately $1.58 billion, a slight decrease from $1.60 billion[81] - Total liabilities amounted to approximately $1.60 billion, down from $1.61 billion[84] - The company's total liabilities decreased to ¥1,184,786,323.92 from ¥1,233,468,365.22, a reduction of approximately 3.9%[97] - Owner's equity totaled approximately $748.02 million, a decrease from $753.50 million[87] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 73,418[10] - Major shareholder Liu Nan held 18.83% of the shares, with 180,796,514 shares, of which 163,722,384 were under lock-up[10] Operational Challenges - The company faced challenges in its ship design business due to insufficient orders, impacting overall performance[28] - The company is currently facing a debt restructuring application due to claims from the 704 Research Institute, citing inability to repay due debts[39] - The company received a notice from Minsheng Bank demanding early repayment of a loan amounting to 150 million RMB, with the company unable to meet the repayment schedule[39] Tax and Other Income - The company reported a tax expense of ¥2.98 million, down from ¥20.77 million in the previous period, indicating a decrease of approximately 86.7%[114] - The company received tax refunds amounting to ¥7.54 million, compared to ¥0.26 million in the previous period, showing a significant increase in tax refunds received[114] - The company reported other income for the current period was ¥5,465,100.00, compared to no other income reported in the previous period[105] Investment and Contracts - The company has significant contracts in progress, including a total contract amount of CNY 65 million for LNG-powered vessels, with varying degrees of completion[30] - The company signed a contract for the purchase of a 4500DWT oil tanker with a contract value of $7,164,890, equivalent to approximately 45.35 million RMB, with cumulative revenue recognized at 38.96 million RMB as of the reporting period[36] - The company entered into a total contract for two 8000-ton bulk carriers valued at $18,720,000, approximately 118 million RMB, with cumulative revenue recognized at 32.35 million RMB as of the reporting period[36]