SMAC(SH:600073)2020-04-29 16:00Financial Performance - Net profit attributable to shareholders decreased by 16.21% to CNY 147,765,989.62 year-on-year[11] - Operating revenue decreased by 0.86% to CNY 6,486,327,145.25 compared to the same period last year[11] - Basic earnings per share decreased by 15.79% to CNY 0.16[11] - The company recorded a loss of CNY -985,097.45 from the fair value changes of trading financial assets[13] - Other comprehensive income decreased by 154.21% to -$104.9 million due to foreign exchange translation differences[20] - Non-operating income decreased by 84.03% to $516.3 thousand, attributed to a reduction in unpayable amounts[20] - Non-operating expenses increased by 49.24% to $3.7 million, mainly due to increased losses from the disposal of non-current assets[20] - Total comprehensive income amounted to ¥129,801,973.65, down from ¥390,156,129.17, indicating a significant decrease of about 66.7% compared to the previous year[42] - Operating profit increased to ¥42,676,053.48 from ¥28,091,098.37, showing an increase of approximately 51.9% year-over-year[47] Cash Flow - Net cash flow from operating activities improved significantly to CNY 47,802,849.95, compared to a negative cash flow of CNY -397,999,266.97 in the previous year[11] - The net cash flow from operating activities for Q1 2020 was ¥143,473,551.57, compared to a negative cash flow of ¥116,959,605.07 in Q1 2019, indicating a significant improvement[59] - Cash inflow from operating activities totaled ¥513,174,633.26 in Q1 2020, slightly down from ¥519,118,210.09 in Q1 2019[59] - The net cash flow from financing activities increased by 63.89% to $457.1 million, driven by new borrowings from financial institutions[20] - The net cash flow from financing activities was ¥96,631,626.83 in Q1 2020, compared to ¥40,958,127.69 in Q1 2019, reflecting a positive trend[59] Assets and Liabilities - Total assets increased by 4.54% to CNY 14,352,487,060.56 compared to the end of the previous year[11] - Total current assets increased to $8.78 billion from $8.20 billion year-over-year[23] - Total liabilities increased to $7.70 billion from $7.20 billion year-over-year[27] - Total equity attributable to shareholders rose to $4.10 billion from $4.02 billion compared to the previous year[27] - Total liabilities reached ¥7,204,815,089.84, with current liabilities at ¥5,633,768,608.20[67] - Total equity reached $3,096,721,409.29, including paid-in capital of $937,729,472.00 and capital reserve of $1,683,191,808.46[74] Shareholder Information - The number of shareholders at the end of the reporting period was 63,318[14] - The largest shareholder, Shanghai Yimin Food Factory (Group) Co., Ltd., holds 31.82% of the shares[14] Cost Management - Total operating costs for Q1 2020 were RMB 5,916,717,989.74, down from RMB 6,286,972,725.88 in Q1 2019, reflecting a cost reduction strategy[40] - The company reported a financial expense of RMB -63,117,168.39 in Q1 2020, a significant improvement compared to RMB 14,051,861.28 in Q1 2019, highlighting effective cost management[40] - The company reported a decrease in sales costs to ¥242,646,348.58 from ¥333,045,725.50, a reduction of approximately 27.1% year-over-year[47] - The financial expenses decreased to ¥10,927,644.67 from ¥16,357,998.19, reflecting a decline of about 33.5%[47] Investment and Growth - The company reported a significant increase of 105.66% in prepayments to CNY 429,418,666.24, indicating increased project investments[18] - Cash and cash equivalents increased to RMB 1,085,696,611.52 as of March 31, 2020, up from RMB 771,684,491.98 at the end of 2019, showing improved liquidity[32] - Accounts receivable decreased to RMB 44,538,471.14 from RMB 97,065,535.93, indicating better collection efficiency[32] - Inventory increased to RMB 151,093,981.62 from RMB 87,829,248.26, suggesting potential stockpiling or slower sales[32]