VCANBIO(600645)2020-04-28 16:00Financial Performance - Net profit attributable to shareholders decreased by 80.17% year-on-year, amounting to CNY 6,117,082.04, primarily due to a decline in revenue caused by the pandemic [19]. - Operating revenue for the period was CNY 276,875,463.42, representing a decrease of 13.82% compared to the same period last year [12]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 2,343,106.78, a decrease of 92.33% year-on-year [12]. - Net profit for Q1 2020 was 37.89 million in Q1 2019 [46]. - The total profit for Q1 2020 was 52.38 million in Q1 2019 [44]. - The total comprehensive income for the period was reported at -¥5,059,820.62, compared to -¥9,676,426.99 in the previous year, indicating an improvement in financial performance [55]. Cash Flow - The net cash flow from operating activities was CNY 3,088,365.70, down 39.01% from CNY 5,063,415.77 in the previous year [12]. - Net cash flow from operating activities decreased by 39.01% to 3,088,365.70 from 5,063,415.77, mainly due to reduced cash received from sales [26]. - In Q1 2020, the company reported a net cash flow from operating activities of ¥3,088,365.70, a decrease of 39.1% compared to ¥5,063,415.77 in Q1 2019 [55]. - Total cash inflow from operating activities was ¥305,374,759.16, down from ¥330,905,299.64 in the previous year, reflecting a decline of 7.7% [55]. - The net cash flow from financing activities improved by 26.58% to -13,757,596.89 from -18,738,301.82, as the repayment of loans decreased compared to the previous year [26]. - The net cash flow from financing activities was -4,367,079.95, compared to a positive cash flow of 529,894.61 in the previous period [59]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,878,884,727.41, a decrease of 0.20% compared to the end of the previous year [12]. - Total liabilities amounted to approximately ¥1,405.83 billion, a decrease of 1.5% from ¥1,427.82 billion in the previous period [39]. - Non-current liabilities decreased to 1,330,679,579.61 from 1,350,003,407.69, reflecting a reduction in short-term borrowings [32]. - The total current assets were ¥662.05 million, a decrease of 1.3% from ¥670.43 million [38]. - The total assets decreased slightly to ¥4,197.23 billion from ¥4,209.13 billion, a decline of 0.3% [39]. Equity and Earnings - Basic earnings per share were CNY 0.01, a decrease of 85.71% compared to CNY 0.07 in the previous year [12]. - The weighted average return on equity decreased by 93.00 percentage points to 0.18% [12]. - The total equity attributable to shareholders reached ¥3,366.26 billion, an increase from ¥3,353.70 billion, reflecting a growth of 0.4% [39]. - The company’s total equity reached ¥3,473.05 billion, an increase from ¥3,460.72 billion, reflecting a growth of 0.4% [39]. Expenses - Employee compensation payable decreased by 48.29% to CNY 28,429,704.00, mainly due to the payment of 2019 annual performance bonuses [21]. - Research and development expenses increased to 23.99 million in Q1 2019 [44]. - The company experienced a decrease in sales expenses to 64.30 million in Q1 2019, a reduction of 7.9% [44]. - The company’s financial expenses decreased significantly to 2.64 million in Q1 2019, a decline of 90.6% [44]. Investments - Investment income rose by 126.98% to 1,415,829.71 from -5,246,871.58, attributed to gains from the disposal of financial assets [23]. - The company reported an investment income of 5.25 million in Q1 2019 [44]. - The company received ¥400,588,000.00 from investment recoveries in Q1 2020, indicating strong investment performance [55]. Accounting Standards - The company implemented new revenue and leasing standards starting January 1, 2020, which are not expected to significantly impact revenue recognition or financial metrics [59]. - The company did not make any retrospective adjustments to prior financial statements due to the new accounting standards [60]. - The company’s total assets and net assets are not expected to be significantly affected by the new accounting standards [59].