青松建化(600425) - 2020 Q1 - 季度财报

Important Notice The Board of Directors, Supervisory Board, and all senior management guarantee the truthfulness, accuracy, and completeness of this quarterly report and assume legal responsibility - The company's Board of Directors, Supervisory Board, and all senior management guarantee the truthfulness, accuracy, and completeness of this quarterly report and assume legal responsibility[7] - The company's Q1 2020 report is unaudited[10] Company Overview Key Financial Data In Q1 2020, the company's operating revenue decreased by 7.10% year-over-year, with a net loss attributable to shareholders of 75.51 million yuan, expanding by 3.74%, and operating cash flow turned negative, decreasing by 397.74% due to increased procurement expenses Key Financial Indicators | Indicator | Current Period | Prior Year Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (Ten Thousand Yuan) | 16,722.17 | 17,999.38 | -7.10% | | Net Profit Attributable to Shareholders of Listed Company (Ten Thousand Yuan) | -7,550.82 | -7,278.89 | -3.74% | | Net Profit Attributable to Shareholders of Listed Company Excluding Non-Recurring Gains and Losses (Ten Thousand Yuan) | -8,376.40 | -9,384.32 | 10.74% | | Net Cash Flow from Operating Activities (Ten Thousand Yuan) | -24,672.01 | 8,286.51 | -397.74% | | Basic Earnings Per Share (Yuan/Share) | -0.055 | -0.053 | -3.78% | | Weighted Average Return on Net Assets (%) | -1.636% | -1.662% | Increased by 0.026 percentage points | - Non-recurring gains and losses totaled 8.26 million yuan for the period, primarily comprising government subsidies of 8.95 million yuan recognized in current profit and loss[14] Shareholding Information As of the end of the reporting period, the company had 96,419 shareholders, with the top ten primarily state-owned legal entities, led by Alar Tongzhong State-owned Assets Management Co., Ltd. holding 26.21% Top Ten Shareholders | Shareholder Name | Number of Shares (Shares) | Proportion (%) | Shareholder Nature | | :--- | :--- | :--- | :--- | | Alar Tongzhong State-owned Assets Management Co., Ltd. | 361,367,646 | 26.21 | State-owned Legal Entity | | Xinjiang Alar Water Conservancy and Hydropower Engineering Co., Ltd. | 42,163,052 | 3.06 | State-owned Legal Entity | | Central Huijin Asset Management Co., Ltd. | 34,080,000 | 2.47 | State-owned Legal Entity | | Zhongxin Jianzhao Investment Co., Ltd. | 27,800,000 | 2.02 | State-owned Legal Entity | | Wang Yong | 22,591,149 | 1.64 | Domestic Natural Person | - Among the top ten shareholders, Alar Tongzhong State-owned Assets Management Co., Ltd. and Xinjiang Alar Water Conservancy and Hydropower Engineering Co., Ltd. are parties acting in concert; Zhongxin Jianzhao Investment Co., Ltd. and Xinjiang Production and Construction Corps Investment Co., Ltd. are parties acting in concert[20] Significant Matters Analysis of Significant Changes in Major Accounting Statement Items and Financial Indicators Multiple financial indicators experienced significant changes during the reporting period, reflecting adjustments in the company's operations and financing, including a 161.92% increase in prepayments and a 397.74% decrease in operating cash flow - Prepayments increased by 161.92% from the beginning of the year, mainly for raw material reserves for production and operations, with some materials requiring advance payment[22] - Short-term borrowings increased by 44.19% from the beginning of the year, primarily due to increased bank short-term loans obtained in Q1[22] - Net cash flow from operating activities decreased by 397.74% year-over-year, mainly due to increased cash payments for goods purchased and services received[24] - Financial expenses decreased by 51.95% year-over-year, primarily due to a decrease in interest-bearing debt[24] Appendix Financial Statements The appendix provides the company's unaudited consolidated and parent company financial statements for Q1 2020, including the balance sheet, income statement, and cash flow statement, reflecting the financial position and performance Consolidated Balance Sheet As of March 31, 2020, total assets were 7.78 billion yuan, a 2.55% decrease from year-end; total liabilities were 3.28 billion yuan, a 3.64% decrease; and total equity attributable to the parent company was 4.58 billion yuan, a 1.62% decrease Consolidated Balance Sheet Summary | Item | March 31, 2020 (Yuan) | December 31, 2019 (Yuan) | Change Rate | | :--- | :--- | :--- | :--- | | Total Assets | 7,784,674,254.31 | 7,988,610,860.94 | -2.55% | | Total Liabilities | 3,284,166,924.87 | 3,408,305,070.24 | -3.64% | | Total Equity Attributable to Parent Company Owners | 4,576,831,281.29 | 4,652,190,924.16 | -1.62% | Consolidated Income Statement In Q1 2020, total operating revenue was 167.22 million yuan, a 7.10% year-over-year decrease; total operating costs were 248.70 million yuan, an 8.78% decrease; and net loss attributable to parent company shareholders was 75.51 million yuan, an expansion of 3.74% year-over-year Consolidated Income Statement Summary | Item | Q1 2020 (Yuan) | Q1 2019 (Yuan) | YoY Change | | :--- | :--- | :--- | :--- | | I. Total Operating Revenue | 167,221,659.42 | 179,993,777.23 | -7.10% | | II. Total Operating Costs | 248,703,910.66 | 272,629,334.66 | -8.78% | | III. Operating Profit | -79,814,676.68 | -97,776,561.29 | Loss narrowed | | IV. Total Profit | -79,164,389.37 | -98,565,153.37 | Loss narrowed | | Net Profit Attributable to Parent Company Shareholders | -75,508,213.68 | -72,788,934.27 | -3.74% | | Basic Earnings Per Share (Yuan/Share) | -0.055 | -0.053 | -3.78% | Consolidated Cash Flow Statement Net cash flow from operating activities was -246.72 million yuan, a significant decrease of 397.74% year-over-year, primarily due to increased cash payments for goods; net cash flow from investing activities was -4.20 million yuan, a reduced outflow; and net cash flow from financing activities turned positive at 224.26 million yuan due to increased borrowings Consolidated Cash Flow Statement Summary | Item | Q1 2020 (Yuan) | Q1 2019 (Yuan) | YoY Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -246,720,083.72 | 82,865,120.51 | -397.74% | | Net Cash Flow from Investing Activities | -4,196,035.00 | -26,466,118.06 | Outflow decreased by 84.15% | | Net Cash Flow from Financing Activities | 224,263,917.17 | -24,086,792.13 | Turned positive | Parent Company Financial Statements The parent company's financial statements reflect similar operational trends, with a net loss of 32.42 million yuan in Q1 2020 and net cash flow from operating activities of -246.72 million yuan, highlighting long-term equity investments in subsidiaries as core assets - The parent company's net loss for Q1 2020 was 32.42 million yuan, a reduction from the 58.66 million yuan net loss in the same period last year[51] - The parent company's net cash flow from operating activities was -246.72 million yuan, primarily due to a significant increase in other cash payments related to operating activities[59]