JSHX(600307)2020-04-29 16:00Financial Performance - Operating revenue fell by 39.13% to CNY 5,878,800,565.10 year-on-year[11] - Net profit attributable to shareholders was CNY -279,133,792.01, a significant decline from CNY 30,913,847.36 in the same period last year[11] - Basic and diluted earnings per share were both CNY -0.0446, compared to CNY 0.0049 in the same period last year[11] - Total revenue for Q1 2020 was approximately ¥5.88 billion, a decrease of 39.5% compared to ¥9.66 billion in Q1 2019[34] - Operating profit for Q1 2020 was a loss of approximately ¥334.11 million, compared to a profit of ¥29.51 million in Q1 2019[34] - Net profit for Q1 2020 was a loss of approximately ¥279.13 million, compared to a profit of ¥30.76 million in Q1 2019[34] - The net profit attributable to the parent company for Q1 2020 was -279,133,792.01 RMB, compared to a profit of 30,913,847.36 RMB in Q1 2019, indicating a significant decline[37] Cash Flow - Net cash flow from operating activities was CNY -218,603,961.93, compared to CNY 1,005,289,476.10 in the previous year[11] - Cash flow from operating activities for Q1 2020 was -218,603,961.93 RMB, a sharp decline from 1,005,289,476.10 RMB in Q1 2019[39] - The net cash flow from operating activities for Q1 2020 was -175,908,803.72 RMB, a significant decrease compared to 773,620,252.53 RMB in Q1 2019[41] - The total cash inflow from financing activities in Q1 2020 was 3,779,925,000.00 RMB, down from 5,641,067,500.00 RMB in Q1 2019, reflecting a decrease of approximately 33%[42] - The net cash flow from financing activities for Q1 2020 was -2,054,864,200.00 RMB, compared to -732,585,510.19 RMB in Q1 2019, indicating a worsening cash flow situation[42] - The company reported a cash and cash equivalents net decrease of -2,389,141,503.72 RMB in Q1 2020, compared to -127,894,057.66 RMB in Q1 2019, highlighting a significant cash drain[42] Assets and Liabilities - Total assets decreased by 4.10% to CNY 37,962,157,810.36 compared to the end of the previous year[11] - Total assets as of March 31, 2020, were approximately ¥39.52 billion, down from ¥41.72 billion as of December 31, 2019[34] - Total liabilities as of March 31, 2020, were approximately ¥23.45 billion, a decrease from ¥25.55 billion as of December 31, 2019[32] - Current assets decreased to approximately ¥8.41 billion from ¥10.53 billion year-over-year[32] - Cash and cash equivalents decreased significantly to approximately ¥703.04 million from ¥3.04 billion year-over-year[32] Inventory and Receivables - Accounts receivable and financing decreased by 39.9% compared to the beginning of the year, mainly due to increased use of bank acceptance bills for payments of raw materials[1] - Inventory increased by 24.8% compared to the beginning of the year, primarily due to temporary increases in finished goods inventory caused by the impact of COVID-19 on product dispatch[1] - The company reported a decrease in inventory to approximately ¥3.46 billion from ¥3.48 billion year-over-year[32] Research and Development - R&D expenses increased by 41.40% compared to the previous period, indicating an increase in investment in research and development[1] - Research and development expenses increased to approximately ¥128.10 million in Q1 2020, up from ¥90.60 million in Q1 2019[34] - Research and development expenses increased to 126,192,585.28 RMB in Q1 2020, up from 90,596,119.41 RMB in Q1 2019, reflecting a focus on innovation[37] Shareholder Information - The total number of shareholders at the end of the reporting period was 252,255[12] - The largest shareholder, Jiuquan Iron and Steel (Group) Co., Ltd., holds 54.79% of the shares[12] Government Support - The company received government subsidies amounting to CNY 5,036,197.59 during the reporting period[11] Financial Ratios - The weighted average return on equity decreased by 2.68 percentage points to -2.39%[11] - Financial expenses for Q1 2020 were 193,999,450.22 RMB, compared to 152,679,928.17 RMB in Q1 2019, indicating increased borrowing costs[37] Other Financial Metrics - Deferred tax assets increased by 113.07% compared to the beginning of the year, reflecting the recognition of deferred tax assets related to losses incurred[1] - Other current assets increased by 49.4% compared to the beginning of the year, mainly due to an increase in the value-added tax credits held by the sales subsidiaries[1] - Payables to employees decreased by 43.45% compared to the beginning of the year, primarily due to the distribution of year-end bonuses accrued for 2019[1]