SPEED(300322)2020-04-28 16:00Financial Performance - Total revenue for Q1 2020 was ¥323,484,010.11, a decrease of 16.67% compared to ¥388,193,583.16 in the same period last year[9] - Net profit attributable to shareholders was ¥5,914,290.38, down 67.57% from ¥18,236,537.84 year-on-year[9] - Net profit excluding non-recurring gains and losses was ¥4,736,104.47, a decline of 69.83% compared to ¥15,695,685.71 in the previous year[9] - Basic earnings per share decreased by 75.00% to ¥0.01 from ¥0.04 year-on-year[9] - The company reported a net profit attributable to shareholders of CNY 5.91 million, down 67.57% year-on-year due to the impact of COVID-19 on production and operations[22] - Net profit for Q1 2020 was CNY 4.97 million, down 73.4% from CNY 18.68 million in Q1 2019[47] - Operating profit for Q1 2020 was CNY 7.33 million, a decline of 64.9% from CNY 20.85 million in the previous year[46] - The total comprehensive income for Q1 2020 was CNY 5.22 million, compared to CNY 17.22 million in the same period last year[47] Cash Flow and Liquidity - Operating cash flow for the period increased significantly to ¥131,787,944.16, up 421.27% from ¥25,282,091.52 in the same period last year[9] - Cash and cash equivalents increased by 61.93% to CNY 306.14 million, driven by an increase in advance payments from customers[21] - The net cash flow from operating activities was 131,787,944.16 CNY, significantly up from 25,282,091.52 CNY in the previous year, representing a growth of 421.5%[53] - Total cash and cash equivalents at the end of the period reached 281,488,658.77 CNY, an increase of 19.3% compared to 235,775,964.10 CNY in the same period last year[54] - The company reported a net cash outflow from investing activities of 53,062,321.35 CNY, compared to a smaller outflow of 536,005.86 CNY in the previous year[53] - Cash inflow from financing activities totaled 149,750,000.00 CNY, down from 194,000,000.00 CNY in the previous year, indicating a decrease of 22.7%[54] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,849,920,712.85, an increase of 2.55% from ¥1,804,001,361.70 at the end of the previous year[9] - Current liabilities amounted to CNY 1,078,613,557.49, an increase from CNY 1,034,500,815.12, representing a rise of 4.3%[39] - The company's total liabilities increased to CNY 1,140,158,001.72 from CNY 1,100,211,421.81, showing a rise of 3.6%[39] - Long-term equity investments increased to CNY 289,903,150.01 from CNY 270,096,075.01, reflecting a growth of 7.0%[42] - Non-current assets totaled CNY 699,329,228.56, up from CNY 672,253,314.70, indicating an increase of 4.0%[40] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 53,146[12] - The largest shareholder, Tibet Shuo Bei De Holdings Co., Ltd., held 19.58% of the shares, amounting to 79,643,204 shares[12] - Net assets attributable to shareholders increased by 0.94% to ¥662,816,337.24 from ¥656,648,581.41 at the end of the previous year[9] Operational Insights - The company has resumed normal operations and is committed to achieving its annual business goals despite the challenges posed by the pandemic[22] - The company is closely monitoring the impact of the COVID-19 pandemic on its operations and is implementing strict preventive measures to ensure normal production[24] - The company plans to focus on technology innovation and high-margin new products to enhance competitiveness in the rapidly evolving 5G market[23] - The company is focusing on enhancing its competitive edge by accelerating new product development and market expansion in the 5G base station antenna sector[24] Research and Development - Research and development expenses decreased by 31.66% to CNY 19.74 million, attributed to reduced spending during the pandemic[21] - The company has established a wholly-owned subsidiary, Suzhou Shobeyde Innovation Research Institute, with a registered capital of 50 million RMB to enhance R&D capabilities[28] - The company has established another subsidiary, Suzhou Shobeyde Communication Technology, with a registered capital of 50 million RMB to further its market reach[28] Future Plans - The company plans to raise up to 680 million RMB through a non-public offering of A-shares, with net proceeds allocated for expanding 5G base station and terminal antenna production, upgrading vehicle-integrated smart antennas, and supplementing working capital[25] - The company is committed to optimizing its product mix and capacity layout in response to changing customer demands and technological advancements in the 5G market[24]