WST(SH:688122)2020-04-29 16:00Financial Performance - Net profit attributable to shareholders decreased by 6.58% to CNY 33,517,036.14 year-on-year[4] - Operating revenue slightly declined by 0.73% to CNY 342,501,805.79 compared to the same period last year[4] - Basic and diluted earnings per share both decreased by 11.11% to CNY 0.08[4] - Net profit for Q1 2020 was RMB 30,903,795.13, down 13.5% from RMB 35,588,980.79 in Q1 2019[19] - Operating profit for Q1 2020 was RMB 37,590,421.53, a decrease of 10.5% from RMB 42,124,464.82 in Q1 2019[18] - Total operating revenue for Q1 2020 was RMB 342,501,805.79, a slight decrease of 0.15% compared to RMB 345,036,022.58 in Q1 2019[18] - Total operating costs increased to RMB 306,898,613.39, up 1.68% from RMB 302,870,858.71 in the same period last year[18] - Total comprehensive income for Q1 2020 was CNY 37,744,599.04, compared to CNY 36,596,688.43 in Q1 2019, reflecting an increase of approximately 3.13%[22] Assets and Liabilities - Total assets increased by 6.97% to CNY 5,137,590,492.54 compared to the end of the previous year[4] - The company's total liabilities increased to RMB 2,231,287,236.88 from RMB 1,941,990,151.45, reflecting a rise in both current and long-term borrowings[13] - Total liabilities rose to CNY 2,439,114,716.32, up from CNY 2,134,682,649.69, indicating an increase of about 14.26%[16] - The company's total equity reached CNY 2,623,093,352.38, up from CNY 2,584,609,367.44, reflecting a growth of about 1.49%[16] - Total current liabilities amounted to CNY 1,789,552,802.43, up from CNY 1,588,571,663.76, indicating an increase of about 12.66%[16] - The company's cash and cash equivalents increased to RMB 978,909,148.74 from RMB 779,750,828.60, representing a growth of 25.5% year-over-year[12] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 132,963,537.70, a decrease of 21.12% year-on-year[4] - The net cash flow from financing activities surged by 250.92% to RMB 333,555,759.94 from RMB 95,052,547.52, reflecting the company's efforts to raise funds for debt repayment[10] - Cash inflow from operating activities totaled CNY 258,108,213.92 in Q1 2020, up from CNY 241,466,043.93 in Q1 2019, representing an increase of about 6.79%[23] - The total cash outflow from operating activities was CNY 391,071,751.62 in Q1 2020, compared to CNY 351,246,481.85 in Q1 2019, representing an increase of approximately 11.32%[24] - Cash flow from investing activities generated a net inflow of CNY 15,185,072.01 in Q1 2020, a significant improvement from the net outflow of CNY -19,109,401.95 in Q1 2019[24] Shareholder Information - The total number of shareholders reached 13,725 by the end of the reporting period[6] - The top ten shareholders held a combined 68.88% of the shares, with the largest shareholder owning 22.67%[7] Research and Development - R&D investment accounted for 5.12% of operating revenue, down by 1.90 percentage points from the previous year[4] - Research and development expenses decreased to RMB 20,470,129.34, down 24.5% from RMB 27,137,000.69 in Q1 2019[18] Investment and Income - The company's investment income turned negative at RMB -548,845.44, a decline of 171.88% compared to RMB 763,594.68 in the previous year[10] - Non-recurring gains and losses amounted to CNY 8,019,164.22, primarily from government subsidies[5] - The fair value change income improved significantly to RMB 1,147,001.82 from RMB -1,350,482.50, indicating a positive shift in the valuation of financial products[10] Inventory and Receivables - The company's inventory rose to RMB 1,071,037,778.80 from RMB 1,025,301,982.23, indicating a 4.46% increase, which may impact future cash flow management[12] - Other receivables grew by 103.33% to RMB 3,540,687.49 from RMB 1,741,329.72, attributed to increased employee advances and rental receivables[9] - Accounts receivable increased to CNY 881,721,097.30 from CNY 782,004,625.74, showing a rise of about 12.74%[15] Compliance and Standards - The company has adjusted its financial reporting to comply with new revenue recognition standards effective January 1, 2020[31] - The company executed new revenue recognition standards starting January 1, 2020, impacting the reporting of contract liabilities[35]