Etron(603380)2020-04-27 16:00Financial Performance - Operating revenue for the first quarter was CNY 234,900,750.35, representing a 7.20% increase year-on-year [5]. - Net profit attributable to shareholders increased by 10.46% to CNY 16,597,251.56 compared to the same period last year [5]. - Basic and diluted earnings per share both rose by 11.11% to CNY 0.10 [7]. - Total operating revenue for Q1 2020 was CNY 234,900,750.35, an increase of 7.5% compared to CNY 219,121,539.29 in Q1 2019 [25]. - Net profit for Q1 2020 reached CNY 16,286,115.30, a 6.0% increase from CNY 15,357,278.50 in Q1 2019 [27]. - The total comprehensive income for Q1 2020 was CNY 16,286,115.30, compared to CNY 15,357,278.50 in Q1 2019, showing a growth of 6.0% [27]. - The total profit for Q1 2020 was ¥20,907,717.18, an increase from ¥16,276,799.44 in Q1 2019, representing a growth of approximately 28.5% [31]. - The net profit for Q1 2020 reached ¥17,771,559.62, compared to ¥14,227,386.06 in Q1 2019, indicating a year-over-year increase of about 25.5% [31]. - Basic and diluted earnings per share for Q1 2020 were both ¥0.11, up from ¥0.09 in Q1 2019, reflecting a growth of 22.2% [31]. Assets and Liabilities - Total assets increased by 2.63% to CNY 1,207,013,331.23 compared to the end of the previous year [5]. - Current assets totaled ¥901,547,640.81, slightly up from ¥893,754,084.76 at the end of 2019, indicating a growth of about 1.0% [18]. - Total liabilities reached ¥331,807,621.45, up from ¥317,142,093.57, which is an increase of about 4.9% [20]. - Total liabilities as of Q1 2020 amounted to CNY 319,682,606.12, up from CNY 311,023,062.14 in the previous year, representing a 2.1% increase [24]. - Total equity increased to CNY 862,454,885.76 in Q1 2020, compared to CNY 844,683,326.14 in Q1 2019, marking a growth of 2.1% [24]. Cash Flow - Net cash flow from operating activities decreased significantly by 95.55% to CNY 1,139,878.81 compared to the previous year [5]. - Cash inflow from operating activities in Q1 2020 totaled ¥327,879,049.84, compared to ¥285,578,888.28 in Q1 2019, marking an increase of approximately 14.8% [34]. - Cash outflow from operating activities was ¥326,739,171.03 in Q1 2020, up from ¥259,965,321.86 in Q1 2019, which is an increase of about 25.6% [34]. - The net cash flow from operating activities for Q1 2020 was ¥1,139,878.81, a significant decrease from ¥25,613,566.42 in Q1 2019 [34]. - The company reported a net cash flow from financing activities of -34,255,011.23 RMB in Q1 2020, compared to a positive cash flow of 13,351,332.80 RMB in the same period of the previous year [37]. Inventory and Receivables - Accounts receivable decreased by 30.64% to ¥178,921,849.01, primarily due to the reclassification of certain receivables to contract assets under new revenue recognition standards [13]. - Inventory increased by 53.22% to ¥208,316,847.15, mainly due to suppliers advancing shipments to mitigate supply chain disruptions caused by the pandemic [14]. - Accounts receivable dropped to ¥178,921,849.01 from ¥257,954,930.05, a significant decrease of about 30.6% [18]. Shareholder Information - The total number of shareholders reached 12,199 by the end of the reporting period [10]. - The largest shareholder, Qian Xindong, holds 37.23% of the shares, totaling 59,560,680 shares [10]. Government Subsidies and Other Income - The company received government subsidies amounting to CNY 282,053.87 during the reporting period [8]. - Other income surged by 276.06% to ¥267,849.54, primarily due to an increase in government subsidies received [15]. Expenses - Sales expenses rose by 37.63% to ¥6,419,074.04, driven by increased business entertainment expenses and higher logistics costs related to export sales [15]. - Financial expenses were reported at ¥91,490.27, a significant change due to reduced foreign exchange gains and increased interest expenses from subsidiary loans [15]. - The company reported a 47.59% increase in income tax expenses to ¥3,040,504.94, mainly due to the reversal of deferred tax liabilities [16]. Changes in Accounting Standards - The company has implemented new revenue and leasing standards starting from 2020, which may impact financial reporting [37]. - The company adopted new revenue recognition standards effective January 1, 2020, impacting the financial reporting of revenue [47].