Letong Chem(002319)2020-04-24 16:00Financial Performance - The company's operating revenue for Q1 2020 was ¥64,925,685.87, a decrease of 39.86% compared to ¥107,953,398.91 in the same period last year[9] - The net profit attributable to shareholders was -¥6,452,290.39, representing an 87.31% decline from -¥3,444,705.03 in the previous year[9] - Basic and diluted earnings per share were both -¥0.032, an 88.24% decrease compared to -¥0.017 in the same period last year[9] - Operating revenue decreased by 39.86%, primarily due to a reduction in sales orders impacted by the COVID-19 pandemic[16] - Operating profit decreased by 169.85%, and net profit decreased by 87.31%, mainly due to a year-on-year decline in sales of ink and internet advertising businesses caused by the global pandemic[16] - The company's net loss for Q1 2020 was CNY 7,100,699.84, compared to a net loss of CNY 1,518,672.58 in Q1 2019, indicating a significant increase in losses[43] - The total comprehensive income for Q1 2020 was a loss of CNY 6.45 million, compared to a loss of CNY 3.44 million in the same quarter of the previous year[45] Cash Flow - The net cash flow from operating activities was ¥3,731,621.17, down 69.27% from ¥12,144,022.29 year-on-year[9] - Cash flow from operating activities decreased by 69.27%, primarily due to a reduction in various operating expenses influenced by the pandemic[16] - The company's operating cash flow for Q1 2020 was CNY 3.73 million, down from CNY 12.14 million in Q1 2019, reflecting a decline of approximately 69.32%[52] - Net cash flow from operating activities was CNY 1,278,915.44, down 90.3% from CNY 13,259,610.61 in the previous year[55] - Cash inflow from financing activities was CNY 134,000,000.00, an increase of 91.4% from CNY 70,000,000.00 in Q1 2019[53] - Net cash flow from financing activities was -CNY 3,645,668.63, compared to -CNY 20,734,772.83 in the previous year, indicating an improvement[53] Assets and Liabilities - Total assets at the end of the reporting period were ¥612,474,485.78, a reduction of 6.44% from ¥654,651,989.30 at the end of the previous year[9] - The company's current assets totaled CNY 193,093,215.75, down from CNY 228,158,995.99 at the end of 2019, indicating a decrease of about 15.37%[34] - The total liabilities as of March 31, 2020, were CNY 277,226,841.66, slightly up from CNY 273,666,328.25 at the end of 2019[40] - The company's total liabilities were CNY 305,093,406.83, with current liabilities at CNY 232,000,000.00, unchanged from the previous period[35] - The total equity decreased to CNY 213,121,678.47 from CNY 221,188,190.51, showing a decline of about 3.2%[40] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 15,083[12] - Shenzhen Dashing Asset Management Co., Ltd. held 26.00% of the shares, making it the largest shareholder[12] - The company has fulfilled all commitments made to shareholders and has no overdue commitments[23] Government Support and Subsidies - The company received government subsidies amounting to ¥73,375.32 during the reporting period[10] - Other income decreased by 61.9%, mainly due to a reduction in government subsidies received during the reporting period[16] Operational Changes and Future Outlook - The company decided to terminate the major asset restructuring due to uncertainties in the future operations of the target company influenced by the pandemic and global economic conditions[18] - The company will continue to monitor market conditions and adjust strategies accordingly to protect shareholder interests[18] Research and Development - The company’s R&D expenses for Q1 2020 were CNY 2,007,477.57, slightly down from CNY 2,144,885.73 in Q1 2019[43] - Research and development expenses for Q1 2020 were CNY 0.37 million, down from CNY 0.51 million in the same period last year, indicating a decrease of approximately 28.43%[47] Compliance and Audit - The company has not undergone an audit for the first quarter report, indicating preliminary figures[62] - The report does not provide specific user data or future outlook details[63] - No new products, technologies, market expansions, or mergers were mentioned in the available reports[63]