TGWC(SH:600116)2020-04-21 16:00Financial Performance - Operating revenue for the period was CNY 209,569,641.59, representing a decline of 21.67% year-on-year[10] - Net profit attributable to shareholders was CNY 23,509,898.85, down 14.30% from the previous year[10] - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 9,578,712.53, a decrease of 34.92% year-on-year[10] - The weighted average return on net assets was 0.77%, down 0.19 percentage points compared to the previous year[10] - Basic and diluted earnings per share were both CNY 0.024, a decrease of 14.29% compared to the previous year[10] - Total operating revenue for Q1 2020 was $209.57 million, a decrease of 21.6% compared to $267.56 million in Q1 2019[48] - Net profit for Q1 2020 was $22.24 million, down 14.3% from $25.95 million in Q1 2019[50] - Earnings per share for Q1 2020 were $0.024, compared to $0.028 in Q1 2019, indicating a decline of 14.3%[50] - The company reported a decrease in sales revenue from services, with cash received from sales dropping to $256.97 million from $353.55 million year-over-year[62] - The company’s total comprehensive income for Q1 2020 was $17.91 million, down from $21.25 million in Q1 2019[57] Assets and Liabilities - Total assets at the end of the reporting period were CNY 5,066,348,412.52, a decrease of 1.47% compared to the end of the previous year[10] - Current assets decreased from 853,510,036.86 to 788,779,331.71, a decline of approximately 7.6% year-over-year[30] - Non-current assets slightly decreased from 4,288,381,229.91 to 4,277,569,080.81, a reduction of about 0.3%[33] - Total liabilities decreased from 2,153,692,175.93 to 2,055,891,630.70, reflecting a decline of about 4.5%[34] - Current liabilities decreased from 860,709,567.62 to 803,587,891.90, a decrease of about 6.6%[34] - Non-current liabilities decreased from 1,292,982,608.31 to 1,252,303,738.80, a reduction of approximately 3.2%[34] - Shareholders' equity increased from 2,988,199,090.84 to 3,010,456,781.82, an increase of approximately 0.7%[34] Cash Flow - The net cash flow from operating activities was CNY -19,121,767.75, an improvement of 14.19% compared to the same period last year[10] - Cash flow from operating activities for Q1 2020 was negative at -$19.12 million, improving from -$22.28 million in Q1 2019[62] - Total cash inflow from operating activities decreased to $235.00 million in Q1 2020, down 11.2% from $264.65 million in Q1 2019[68] - Cash outflow for purchasing goods and services was $147.61 million, a significant decrease of 35.4% compared to $229.02 million in the same period last year[68] - The net cash flow from investing activities was -$22.56 million in Q1 2020, contrasting with a positive cash flow of $3.07 million in Q1 2019[68] - The net cash flow from financing activities was -$21.33 million in Q1 2020, compared to a positive cash flow of $13.33 million in Q1 2019, indicating a shift in financing strategy[70] Shareholder Information - The total number of shareholders at the end of the reporting period was 45,199[12] - The largest shareholder, China Yangtze Power Co., Ltd., held 16.08% of the shares[12] Investment and Restructuring - The company experienced a significant decrease in investment income due to the impact of COVID-19 on its associate company, resulting in reduced profits[10] - The company initiated a major asset restructuring to acquire controlling stakes in Chongqing Changdian United Energy Co., Ltd. and Chongqing Liangjiang Changxing Power Co., Ltd.[22] Other Financial Metrics - Cash paid for goods and services decreased by 39.14% to ¥156,476,980.49 from ¥257,114,390.51 in Q1 2019[18] - Cash received from investment recovery was zero, down from ¥317,126,238.35 in Q1 2019, marking a 100% decrease[18] - The company received ¥7,889,800.00 from the disposal of fixed assets, a significant increase from zero in Q1 2019[18] - Research and development expenses for Q1 2020 were $13.41 million, slightly down from $14.41 million in Q1 2019[48] - The company plans to focus on market expansion and new product development in the upcoming quarters[49] - The company did not apply new revenue and leasing standards in 2020, indicating a stable accounting approach for the period[71]