Shenqi(600613)2020-04-29 16:00Financial Performance - Operating revenue for the first quarter was CNY 342,993,999, representing a decrease of 19.56% year-on-year[7]. - Net profit attributable to shareholders was CNY 8,677,484, down 63.44% from the same period last year[7]. - Basic earnings per share decreased by 50.00% to CNY 0.02[7]. - The weighted average return on equity fell to 0.33%, a decrease of 0.60 percentage points from the previous year[7]. - The net profit for Q1 2020 was ¥11,008,981.12, a decrease of 47.97% compared to ¥21,158,809.18 in the same period last year[12]. - Total revenue for Q1 2020 was ¥342,993,999.78, a decrease of 19.5% compared to ¥426,384,693.33 in Q1 2019[25]. - Total operating costs for Q1 2020 were ¥326,290,690.37, down 18.3% from ¥399,479,951.62 in Q1 2019[25]. - Net profit for Q1 2020 was ¥11,008,981.12, a decline of 48.0% from ¥21,158,809.18 in Q1 2019[26]. - The company reported a total comprehensive income of ¥3,607,340.58 for Q1 2020, down from ¥33,243,253.35 in Q1 2019[26]. - The net profit for Q1 2020 was a loss of CNY 1,478,735.63, an improvement from a loss of CNY 1,677,931.59 in Q1 2019, reflecting a reduction in losses by approximately 11.9%[29]. - The total comprehensive income for Q1 2020 was a loss of CNY 8,880,376.17, compared to a gain of CNY 10,406,512.58 in Q1 2019[29]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 3,604,498,926, an increase of 1.36% compared to the end of the previous year[7]. - The total assets as of March 31, 2020, were ¥3,604,498,925.99, compared to ¥3,556,129,011.94 at the end of 2019[18]. - Total assets as of Q1 2020 were 3,556,129,011.94, unchanged from the previous year, indicating stability in asset management[40]. - Total liabilities as of March 31, 2020, were ¥47,062,733.28, down from ¥49,068,273.77 as of December 31, 2019[23]. - Total liabilities stood at 894,598,007.27 in Q1 2020, reflecting a consistent liability structure compared to the previous year[41]. - Total liabilities were reported at approximately $49.07 million, with current liabilities totaling around $33.51 million and non-current liabilities at approximately $15.55 million[45]. Cash Flow - Cash flow from operating activities showed a net inflow of CNY 14,904,611, a significant decline of 71.69% compared to the previous year[7]. - Cash flow from operating activities decreased by 71.69% to ¥14,904,611.03, down from ¥52,642,944.73 in the previous year[12]. - The cash flow from investing activities showed a net outflow of ¥48,309,789.68, a significant increase of 714.33% compared to the previous year[12]. - The net cash flow from operating activities for Q1 2020 was CNY 14,904,611.03, down 71.7% from CNY 52,642,944.73 in Q1 2019[32]. - The company experienced a net cash outflow from investing activities of CNY 48,309,789.46 in Q1 2020, compared to a smaller outflow of CNY 5,932,435.30 in Q1 2019[33]. - The company reported cash inflow from investment activities of 698,852.92 in Q1 2020, with no cash outflow recorded in the same category[36]. Shareholder Information - The total number of shareholders at the end of the reporting period was 49,531[9]. - The largest shareholder, Guizhou Magic Investment Co., Ltd., held 24.59% of the shares, with 131,301,620 shares pledged[9]. - Shareholders' equity reached approximately $1.98 billion, including paid-in capital of about $534.07 million and retained earnings of approximately $225.74 million[45]. Government Support and Non-Operating Losses - The company received government subsidies totaling CNY 976,277, which included various forms of support related to the COVID-19 pandemic[9]. - The company reported a significant non-operating loss of CNY 2,587,422 due to donations made in response to the pandemic[9]. Research and Development - Research and development expenses increased by 43.35% to ¥1,943,360.73 from ¥1,355,690.42 year-on-year[12]. - Research and development expenses for Q1 2020 were ¥1,943,360.73, an increase from ¥1,355,690.42 in Q1 2019[25]. Accounting Standards and Future Outlook - The company executed new revenue and leasing standards starting January 1, 2020, which may impact future financial reporting[38]. - The company implemented the new revenue recognition standard starting January 1, 2020, which did not have a significant impact on financial results or cash flows[46]. - The company has not disclosed any new product developments or market expansion strategies in this report[46]. - The company anticipates potential losses or significant changes in net profit compared to the previous year[13].