China Meheco(SH:600056)2020-04-28 16:00Financial Performance - In Q1 2020, the company's total revenue decreased by 9.21% year-on-year to CNY 7,485,116,949.03[4] - The net profit attributable to shareholders dropped by 35.49% year-on-year, amounting to CNY 264,027,450.88[4] - Basic earnings per share fell by 35.50% to CNY 0.2471[5] - Total operating revenue for Q1 2020 was ¥7,485,116,949.03, a decrease of 9.2% compared to ¥8,244,790,655.23 in Q1 2019[19] - Net profit for Q1 2020 was ¥310,445,582.99, a decline of 39.5% from ¥513,157,824.73 in Q1 2019[20] - Earnings per share for Q1 2020 was ¥0.2471, compared to ¥0.3831 in Q1 2019, reflecting a decrease of 35.5%[20] - Total comprehensive income for Q1 2020 was approximately ¥126.66 million, down from ¥161.41 million in Q1 2019, representing a decrease of about 21.5%[22] Assets and Liabilities - The company's total assets increased by 10.08% compared to the end of the previous year, reaching CNY 32,840,678,626.01[4] - The company's total current assets as of March 31, 2020, were 25,176,684,623.07 CNY, an increase from 22,513,773,541.98 CNY at the end of 2019[13] - Total assets increased to ¥32,840,678,626.01 as of March 31, 2020, up from ¥29,832,661,758.47 at the end of 2019, representing an increase of approximately 6.7%[15] - Total liabilities increased to ¥21,421,053,899.81 from ¥18,822,047,086.15, indicating a growth of approximately 8.5%[15] - Current liabilities totaled ¥18,079,628,552.03, up from ¥15,840,109,383.87 at the end of 2019, reflecting an increase of approximately 14.0%[15] - Non-current liabilities rose to ¥3,341,425,347.78, compared to ¥2,981,937,702.28 at the end of 2019, indicating an increase of about 12.1%[15] Cash Flow - The net cash flow from operating activities was negative at CNY -1,272,710,926.51, an improvement from CNY -1,393,799,390.79 in the same period last year[4] - Cash inflow from operating activities in Q1 2020 was approximately ¥9.78 billion, an increase of 28.3% compared to ¥7.62 billion in Q1 2019[23] - Cash outflow from operating activities in Q1 2020 was approximately ¥11.06 billion, up from ¥9.02 billion in Q1 2019, indicating a rise of 22.7%[23] - Net cash flow from operating activities for Q1 2020 was approximately -¥1.27 billion, an improvement from -¥1.39 billion in Q1 2019[23] - Net cash flow from investing activities in Q1 2020 was approximately -¥128.59 million, compared to ¥119.34 million in Q1 2019, indicating a significant shift in investment strategy[24] - Net cash flow from financing activities in Q1 2020 was approximately ¥1.90 billion, a turnaround from -¥162.88 million in Q1 2019, showing strong financing efforts[24] Shareholder Information - As of the end of the reporting period, the total number of shareholders was 84,491[7] - The largest shareholder, China General Technology (Group) Holding Limited, holds 41.27% of the shares[7] Operational Activities - The company has been actively involved in the procurement and transportation of domestic epidemic prevention materials while also exporting various prevention materials internationally[4] - The company continues to implement its "one body, two wings" development strategy amidst the ongoing pandemic and industry policy adjustments[4] Expenses - Research and development expenses for the period amounted to 1,536,000 CNY, an increase of 383,000 CNY, representing a growth of 33.21% as the company strengthened its product development efforts[10] - Financial expenses for the period totaled 6,246,000 CNY, an increase of 2,554,000 CNY, reflecting a growth of 69.17% due to increased interest expenses from external borrowings[10] - The company reported a significant decrease in sales expenses, which were ¥563,457,919.72 in Q1 2020, down from ¥865,646,143.33 in Q1 2019, a reduction of 34.9%[19]