Sichuan Express(SH:601107)2020-04-29 16:00Financial Performance - Operating revenue for the first quarter was ¥628,527,343.64, a decrease of 57.97% year-on-year[12]. - Net profit attributable to shareholders was -¥269,165,231.37, representing a decline of 162.74% compared to the same period last year[12]. - Basic earnings per share were -¥0.0880, a decrease of 162.72% compared to ¥0.1403 in the same period last year[12]. - The weighted average return on equity decreased by 4.70 percentage points to -1.78%[12]. - The company reported a substantial increase in short-term borrowings to ¥1,750,000,000.00, up 250.00% from the previous period[20]. - The company experienced a significant reduction in tax expenses, down 87.43% to ¥12,391,520.00, due to lower pre-tax profits[21]. - The company anticipates a significant decline in cumulative net profit compared to the previous year due to the impact of the COVID-19 pandemic and the suspension of tolls on highways[44]. - The total comprehensive income for the quarter was -¥280,826,998.72, compared to ¥447,312,646.38 in the same quarter of the previous year, indicating a significant decrease[64]. - The total comprehensive income attributable to the parent company was -286,206,334.41 RMB, compared to 434,473,809.34 RMB in the same period last year[66]. Cash Flow - Net cash flow from operating activities was ¥173,387,167.49, down 68.99% from the previous year[12]. - The net cash flow from operating activities was -170,128,031.86 RMB in Q1 2020, compared to 370,095,924.53 RMB in Q1 2019, indicating a significant decline[74]. - Cash inflow from operating activities totaled 1,043,483,344.34 RMB in Q1 2020, up from 684,048,246.17 RMB in Q1 2019[74]. - Cash outflow from operating activities increased to 1,213,611,376.20 RMB in Q1 2020, compared to 313,952,321.64 RMB in Q1 2019[74]. - The net cash flow from investing activities was -269,152,336.72 RMB in Q1 2020, worsening from -177,057,719.04 RMB in Q1 2019[76]. - The net cash flow from financing activities was 899,429,448.71 RMB in Q1 2020, a recovery from -362,316,285.94 RMB in Q1 2019[76]. - Cash inflow from financing activities reached 1,450,000,000.00 RMB in Q1 2020, significantly higher than 200,000,000.00 RMB in Q1 2019[76]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥38,575,566,381.49, an increase of 2.27% compared to the end of the previous year[12]. - Current assets increased to ¥8,977,146,099.70 from ¥7,846,134,471.90, representing a growth of approximately 14.4% year-over-year[47]. - Total liabilities rose to ¥22,702,857,926.20 from ¥21,569,281,723.71, an increase of about 5.3%[52]. - Short-term borrowings increased significantly to ¥1,750,000,000.00 from ¥500,000,000.00, a rise of 250%[52]. - The company's equity attributable to shareholders decreased to ¥14,989,934,614.70 from ¥15,274,761,768.33, a decline of approximately 1.9%[52]. - The total owner's equity decreased to ¥15,872,708,455.29 from ¥16,150,831,177.99, indicating a decrease of about 1.7%[52]. Investments and Projects - The company is actively developing the Dazhonghe health tourism project with an estimated total investment of approximately ¥6 billion[30]. - The Chengle Expressway expansion project has a total estimated investment of about ¥231.33 billion, with cumulative investments reaching approximately ¥28.24 billion as of March 31, 2020[29]. - The company acquired land use rights for the Renshou North City real estate project, covering an area of 235,558.10 square meters at a transaction price of RMB 920,160 thousand[34]. - The company established Sichuan Chengyu Education Investment Co., Ltd. with a registered capital of RMB 480 million to invest in vocational technical schools, with a total estimated investment of approximately RMB 1.5 billion[37]. - The company won the bid for the Chengdu Tianfu New Area to Qionglai Expressway project, with a total estimated investment of approximately RMB 8.685 billion, and plans to start construction in 2020[38]. - The company plans to invest approximately RMB 3.38 billion for a 7% stake in a joint venture to acquire 51% of the shares in the ICA company, which operates the third Bosphorus Bridge in Turkey[40].