Interior Door,High Quality Interior Door,Interior Door Details, Zhejiang Jihengkang (JHK) Door Industry Co., Ltd. JiHengKang (JHK) Door Industry Co.,LTD , http://www.zjwoodendoors.com
I. Main financial indicators for the first quarter of 2012 1. Earnings per share (yuan) 0.11 2. Net assets per share (yuan) 4.21 3. Return on net assets (%) 2.66 II. Major accounting statements and financial indicators of the company The situation and reasons for the change in the range 1. The large floating changes in the balance sheet items and the main reasons (1) The ending balance of notes receivable decreased by 65.83% compared with the beginning of the year, due to the decrease in bank acceptance bills received during the reporting period. (2) The ending balance of accounts receivable increased by 49.87% compared with the beginning of the year, mainly due to the increase in sales revenue; (3) The ending balance of other receivables increased by 1382.50% compared with the beginning of the year. The main reason was the increase in corporate capital transactions during the reporting period; (4) The number of construction in progress at the end of the period increased by 33.71% compared with the beginning of the year, mainly due to the annual production of “1.02 billion carats of high-grade diamond projects†and the photovoltaic industry. Increased investment in dedicated micro-diamond line projects (5) The ending balance of notes payable increased by 45.29% compared with the beginning of the year, which was due to the fact that the company's payables due for bills were less than the newly increased bills payable; (6) the ending balance of accounts payable increased by 35.98 compared with the beginning of the year. %, mainly due to the increase in unpaid raw materials and equipment; (7) The amount of tax payable at the end of the period increased by 43.27% compared with the beginning of the year, mainly due to the increase in the accrued income tax payable; The number of other payables at the end of the period increased by 62.47% compared with the beginning of the year, mainly due to the increase in unpaid housing rental fees and tooling deposits. 2. Significant changes in the income statement items and main reasons (1) Operating income in January-March increased by 38.10% over the same period of the previous year, mainly due to the expansion of production scale and the increase in sales revenue; (2)1- Operating expenses increased by 45.52% in March from the same period of the previous year, which was mainly due to the increase in operating income corresponding to the increase in operating costs and the decrease in gross profit margin of other businesses; (3) Business tax and surcharges in January-March increased by 241 compared with the same period of the previous year. .67%. The main reason is the increase in operating income and the increase in VAT payable; (4) Administrative expenses in January-March increased by 97.95% over the same period of the previous year, mainly due to the increase in research and development expenses and stock option expenses; (5)1 -Finance expenses decreased by 93.33% in March from the same period of last year, mainly due to the decrease in interest on bank deposits and the increase in loan interest; (6) Non-operating income in January-March increased by 5566.30 over the same period of the previous year. %, mainly due to the increase in government subsidies; (7) Income tax expenses for the first three months increased by 32.32% over the same period of the previous year, due to the increase in total profit. 3. Significant changes in cash flow statement items and main reasons (1) Cash received from sales of goods and services in January-March increased by 75.46% over the same period of the previous year, mainly due to the comparison with the same period of the previous year. The increase in sales revenue and the decrease in bank acceptance bills received; (2) Other cash related to operating activities received in January-March increased by 47.94% over the same period of last year, mainly due to the interest received on bank deposits. (3) The taxes and fees paid in January-March increased by 173.33% over the same period of the previous year, mainly due to the increase in corporate income tax paid in the reporting period; (4) Others paid in January-March Cash related to operating activities increased by 328.75% over the same period of last year, mainly due to the increase in research and development expenses, rental fees and capital flows; (5) Purchase and construction of fixed assets, intangible assets and other long-term assets in January-March Cash increased by 118.62% over the same period of last year, mainly due to the annual production of “1.02 billion carats of high-grade diamond projectâ€, micro-diamond line project for photovoltaic industry and purchase production. The increase in equipment; (6) Cash received from loans in January-March increased by RMB 20 million from the same period of the previous year due to the increase in short-term borrowings. III. Business Review and Outlook 1. Main business operations during the reporting period During the reporting period, the company maintained its main business in accordance with the strategic development plan formulated by the board of directors, closely surrounding the main business of synthetic diamonds, overcoming the unfavorable factors of the international financial crisis. The business continued to grow and the business performance improved steadily. In the first quarter of 2012, the company achieved operating income of RMB 115,561,900, an increase of 38.10% over the same period of last year; total profit was RMB 39.69 million, an increase of 24.66% over the same period of last year; The net profit of the company's shareholders was RMB 3,353,870, an increase of 23.79% over the same period last year. 2. Analysis of risk factors (1) Risk of macroeconomic fluctuations Synthetic diamonds are widely used in construction, metallurgy, machinery, petroleum, geological exploration, aerospace and other fields due to their excellent physical and chemical properties, highest hardness and wear resistance. With the improvement of technology and the expanding application range, the artificial diamond manufacturing industry will usher in more market space. At the same time, the demand for synthetic diamond products is also affected by factors such as the scale of investment in related industries and the scale of infrastructure construction. When the macroeconomic situation is good or the state increases its support for industrial investment, the demand for synthetic diamond will also expand due to the investment in the downstream synthetic diamond application industry and the expansion of production scale. Affected by the debt crisis in developed countries, the world economy will continue its slow recovery and low-speed growth. The domestic economic growth will show a slowdown in the future, which may affect the market demand for synthetic diamond products. During the reporting period, the company increased sales promotion efforts, and enhanced the company's brand awareness and reputation through industry exhibitions, industry publications, and online publicity methods, which effectively promoted the sales of the company's products. (2) Management risk caused by the expansion of the company's scale With the expansion of business scale, the company has accumulated rich experience in management and management, and the governance structure has been continuously improved, forming an effective incentive mechanism and internal management mechanism. In the process of the company's asset scale and production scale continue to grow, if the management level of the company's management can not meet the needs of the company's continued expansion, the management system will not be adjusted and improved in time as the company's scale changes, which will weaken the company's market competition. Force, bring certain risks to the company's production and operation. At present, the company's subsidiary business is still in the development stage. Whether it can concentrate on the advantageous resources to expand the market and effectively implement supervision and control over the subsidiaries, the overall management level of the company will face no small challenge. During the reporting period, the company strengthened the internal control system and the improvement of the talent system by strengthening internal training and the introduction of external talents. It supervised and managed the operation of the company and its subsidiaries from various channels such as finance and sales, and avoided the rapid growth of the company. The management risk ensures the orderly operation of the company's production and operation. (3) Technical risk The production of the company's products requires a variety of professional technologies, long-term process accumulation and precipitation. The synthetic diamond manufacturing process and related technologies are important resources and foundation for the company's sustainable development. If the incentive mechanism and the restraint mechanism are not followed up, resulting in the leakage of these technologies or the loss of technicians, the competitiveness of the company will be greatly reduced, which will adversely affect the long-term stable development of the company. The company has established an effective incentive mechanism to provide technical personnel with a platform to fully demonstrate their self-worth and continuously improve themselves, ensuring the relative stability of core technical personnel. The loyalty of the company's core technical personnel is relatively high. During the reporting period, there was no phenomenon that the core technical personnel were lost or the technology leaked to the company's operations.