GDG(SH:600098)2020-04-29 16:00Financial Performance - Net profit attributable to shareholders was CNY 115,827,283.67, representing a decline of 21.36% year-on-year[4] - Operating revenue for the period was CNY 6,253,208,208.62, down 1.78% from the same period last year[4] - Basic earnings per share were CNY 0.0432, a decrease of 20.00% year-on-year[4] - The company's total profit decreased by 31.47% to CNY 126,533,311.70 compared to the previous period due to reduced sales volume in thermal power and coal trading impacted by the Spring Festival and COVID-19[10] - Net profit fell by 30.95% to CNY 103,290,833.45, reflecting the same challenges affecting total profit[10] - Total operating revenue for Q1 2020 was ¥6,276,312,094.54, a decrease of 1.85% compared to ¥6,394,594,445.40 in Q1 2019[19] - Net profit for Q1 2020 was ¥103,290,833.45, down 30.93% from ¥149,592,302.65 in Q1 2019[20] - Operating profit for Q1 2020 was ¥88,574,439.20, a decline of 51.24% compared to ¥181,877,890.28 in Q1 2019[19] - The total profit for Q1 2020 was ¥126,533,311.70, a decrease of 31.5% from ¥184,646,830.80 in Q1 2019[19] Cash Flow and Liquidity - Net cash flow from operating activities was negative CNY 149,571,615.92, a decrease of 120.14% compared to the previous year[4] - The company's cash flow from operating activities showed a significant decline of 120.14%, resulting in a net outflow of CNY 149,571,615.92[10] - Cash and cash equivalents at the end of Q1 2020 were approximately ¥2.97 billion, down from ¥4.26 billion at the end of Q1 2019[23] - The company reported cash and cash equivalents at the end of the period of 307,994,621.83 RMB, down from 453,192,550.03 RMB year-over-year, reflecting liquidity challenges[25] - The net cash flow from financing activities was -179,820,349.93 RMB, compared to a positive flow of 60,321,767.18 RMB in the same quarter last year, indicating a shift in financing strategy[25] Assets and Liabilities - Total assets at the end of the reporting period were CNY 41,766,918,015.81, a decrease of 1.46% compared to the end of the previous year[4] - The balance of cash and cash equivalents at the end of the period decreased by 30.35% to CNY 2,966,369,241.29, attributed to reduced initial cash balance and increased cash outflows[10] - Total liabilities amounted to ¥21,389,876,199.77, a decrease of 2.13% from ¥21,855,786,077.44 in the previous period[15] - Total equity reached ¥20,377,041,816.04, down from ¥20,529,634,032.75, indicating a decline of 0.74%[15] - The company reported a total current asset of RMB 8.92 billion, down from RMB 9.99 billion at the end of 2019, indicating a decrease of approximately 10.7%[13] - The company’s total non-current assets reached RMB 32.84 billion, slightly up from RMB 32.40 billion at the end of 2019[14] Shareholder Information - The company had a total of 56,405 shareholders at the end of the reporting period[7] - The largest shareholder, Guangzhou State-owned Assets Development Holding Co., Ltd., held 62.69% of the shares[7] Research and Development - Research and development expenses increased by 64.80% to CNY 52,483,030.99 as the company focused on cultivating high-tech enterprises and expanding R&D projects[9] - Research and development expenses increased to ¥52,483,030.99, a rise of 64.55% from ¥31,846,931.76 in Q1 2019[19] Investment Income - Investment income surged by 102.53% to CNY 80,688,667.22, driven by increased net profits from associated companies[9] - The company reported investment income of ¥80,688,667.22, which is a significant increase from ¥39,839,939.93 in Q1 2019[19] Other Income and Expenses - The company recorded a government subsidy of CNY 12,841,859.40 during the period[5] - Non-operating income and expenses totaled CNY 30,715,004.77 after tax impacts[6] - Other income rose by 58.60% to CNY 12,269,688.63, primarily due to increased government subsidies[9] Financial Position - Total equity attributable to shareholders reached approximately $17.14 billion[28] - Total liabilities and equity amounted to approximately $42.39 billion[28] - Unallocated profits stood at approximately $6.95 billion[28] - Other comprehensive income reported at approximately $682.86 million[28] - The company has implemented new revenue recognition standards effective January 1, 2020[28] - The company has reclassified "prepayments" to "contract liabilities" under the new standards[28]