Gifore(SZ:300022)2019-04-28 16:00Financial Performance - Total revenue for Q1 2019 was ¥397,512,148.72, a decrease of 11.18% compared to ¥447,539,950.99 in the same period last year[7] - Net profit attributable to shareholders was -¥37,901,376.53, a significant decline of 8,194.62% from ¥468,229.43 in the previous year[7] - The basic earnings per share for Q1 2019 was -¥0.0997, a decline of 8,408.33% from ¥0.0012 in the same period last year[7] - Operating profit for the reporting period was -CNY 30,034,324.26, a decrease of 756.87% year-on-year, primarily due to the transfer of part of the equity of a controlling subsidiary and increased financing costs[16] - Net profit for the reporting period was -CNY 33,586,616.71, a decline of 1006.80% year-on-year, mainly due to the transfer of part of the equity of a controlling subsidiary and increased financing costs[16] - Net loss for Q1 2019 was ¥33,586,616.71, compared to a net profit of ¥3,703,857.49 in the same period last year[39] Cash Flow - The net cash flow from operating activities improved to ¥15,012,218.83, compared to -¥17,122,145.62 in the same period last year, marking a 187.68% increase[7] - Net cash flow from operating activities was CNY 15,012,218.83, compared to a negative CNY 17,122,145.62 in the previous period, indicating a significant recovery[48] - Cash inflow from investment activities was CNY 23,980,327.21, significantly higher than CNY 55,116.17 in the previous period[48] - Cash outflow for operating activities was CNY 588,672,856.56, down from CNY 690,215,628.80 in the previous period, showing improved cash management[47] Assets and Liabilities - Total assets increased by 17.75% to ¥2,232,346,227.26 from ¥1,895,870,012.32 at the end of the previous year[7] - Current assets increased to ¥1,902,261,286.87 as of March 31, 2019, up from ¥1,557,606,758.34 at the end of 2018, representing a growth of approximately 22%[28] - Total liabilities rose to ¥1,823,302,730.66, up from ¥1,489,551,631.64, indicating an increase of around 22%[30] - The company reported a negative retained earnings of ¥-420,776,860.11 as of March 31, 2019, compared to ¥-382,875,483.58 at the end of 2018[31] Shareholder Information - The company had a total of 32,987 common shareholders at the end of the reporting period[11] - The top shareholder, Wang Xinming, held 13.13% of the shares, with 49,932,824 shares, of which 37,449,618 were pledged[11] - The total equity attributable to shareholders decreased to ¥191,462,084.05 from ¥216,463,317.88, indicating a decline of about 12%[31] Expenses - Management expenses for the reporting period amounted to CNY 58,571,331.79, an increase of 165.65% year-on-year, primarily due to the transfer of part of the equity of a controlling subsidiary[16] - Financial expenses for the reporting period were CNY 13,753,109.14, up 53.56% year-on-year, mainly due to increased financing costs[16] - Research and development expenses for Q1 2019 were ¥30,000.00, indicating ongoing investment in innovation[37] Investment Activities - Investment income for the reporting period was CNY 2,203,408.21, a significant increase of 1683.94% year-on-year, mainly from the sale of available-for-sale financial assets[16] - The company reported an investment income of ¥2,203,408.21 for Q1 2019, a significant increase from ¥123,513.28 in the previous period[37] Future Outlook - The company plans to strengthen internal control and reduce costs while actively cultivating new business growth to smooth out the cyclical impacts of the agricultural machinery industry[17] - The company will continue to develop advantageous specialty agricultural machinery to respond to policy changes and uncertainties in the market[19] - The report did not provide specific future guidance or performance outlook for the upcoming quarters[59]