SHGBIT(603918)2020-04-29 16:00Financial Performance - Operating revenue fell by 39.35% to CNY 72,770,829.95 year-on-year[12] - Net profit attributable to shareholders decreased by 501.04% to a loss of CNY 8,492,151.01[12] - Basic earnings per share decreased by 408.33% to -CNY 0.037 per share[14] - Diluted earnings per share decreased by 405.08% to -CNY 0.036 per share[14] - The company reported a net loss of CNY 8,492,151.01 for the current period, compared to a net profit of CNY 2,117,512.11 in the previous period, indicating a significant decline in profitability[69] - Total comprehensive income for the current period was CNY -8,388,659.83, down from CNY 1,999,188.23 in the same period last year[71] - Revenue for the current quarter was CNY 73,243,399.23, a decrease of approximately 38.6% from CNY 119,230,911.83 in the previous year[71] - Operating profit for the current period was CNY -10,394,955.14, compared to CNY 2,187,117.88 in the previous period, reflecting a substantial operational loss[69] Assets and Liabilities - Total assets decreased by 9.88% to CNY 1,191,771,479.12 compared to the end of the previous year[12] - The total liabilities of the company as of March 31, 2020, were RMB 560,388,840.45, compared to RMB 682,660,619.57 at the end of 2019, reflecting a reduction of approximately 17.9%[57] - The company's total current assets amounted to RMB 958,865,825.64, a decrease from RMB 1,091,165,596.55 as of December 31, 2019, representing a decline of approximately 12.1%[51] - The company's accounts receivable increased by 610.56% compared to the beginning of the period, primarily due to an increase in commercial acceptance bills received[24] - The company's accounts payable decreased by 67.95% compared to the beginning of the period, primarily due to the maturity and payment of bank acceptance bills[28] Cash Flow - Net cash flow from operating activities improved to a loss of CNY 44,514,065.90, compared to a loss of CNY 149,616,661.86 in the same period last year[12] - The company's cash flow from operating activities for Q1 2020 was -44,514,065.90 yuan, but showed a significant improvement with a 46.61% increase in cash received from sales compared to the previous year[40] - The company’s cash flow from operating activities was CNY 212,157,376.74, an increase from CNY 144,705,790.64 in the previous year, suggesting improved cash generation from operations[73] - Operating cash inflow totaled CNY 200,182,911.95, up from CNY 159,612,793.79 in the previous year, representing a 25.4% increase[79] - Cash flow from financing activities resulted in a net outflow of CNY 21,436,954.00, compared to a smaller outflow of CNY 1,922,172.96 in the prior year[82] Shareholder Information - The total number of shareholders at the end of the reporting period was 25,226[18] - The largest shareholder, Jin Guopei, holds 29.34% of the shares, with 43,160,000 shares pledged[18] Legal Proceedings - The company has initiated legal proceedings against the Cultural Center Fund due to their failure to fulfill the equity acquisition obligations as per the supplementary agreement, with a claim amounting to RMB 121,110,709.04[47] - The company has frozen 37.72% of the Cultural Center Fund's shares in the company for a period of three years as part of the legal proceedings[47] Research and Development - The company's development expenditures increased by 91.80% compared to the beginning of the period, mainly due to an increase in R&D projects entering the development phase[27] - Research and development expenses for Q1 2020 amounted to ¥9,996,001.99, compared to ¥10,566,657.66 in Q1 2019, indicating a decrease of 5.4%[66] - Research and development expenses amounted to CNY 7,130,518.48, down from CNY 10,566,657.66 in the previous year, showing a reduction in investment in R&D[71] Compliance and Standards - The company has not disclosed any new product developments or market expansion strategies in this report[12] - The company implemented new revenue recognition standards effective January 1, 2020, adjusting relevant accounts accordingly[90] - The company has not applied the new leasing standards retrospectively, as indicated in the report[98]