CSSC Holdings(SH:600150)2020-04-29 16:00Financial Performance - Operating income for the reporting period was approximately CNY 10.21 billion, representing a year-on-year increase of 3.71%[5] - Net profit attributable to shareholders of the listed company was approximately CNY 2.26 million, a significant decrease of 99.84% compared to CNY 1.45 billion in the same period last year[5] - The net cash flow from operating activities was approximately -CNY 4.50 billion, a decrease of 424.52% compared to CNY 1.39 billion in the previous year[5] - Basic and diluted earnings per share were both CNY 0.001, down 99.80% from CNY 0.506 in the same period last year[5] - The company reported a net profit for Q1 2020 was a loss of CNY 128,413,470.22, compared to a profit of CNY 1,316,647,890.87 in Q1 2019[22] - Comprehensive income for Q1 2020 totaled a loss of CNY 131,370,702.44, compared to a gain of CNY 1,389,883,356.82 in Q1 2019[23] - The total profit for Q1 2020 was a loss of CNY 114,453,987.88, compared to a profit of CNY 1,561,791,940.73 in Q1 2019[22] Assets and Liabilities - Total assets at the end of the reporting period were approximately CNY 121.37 billion, a decrease of 0.47% compared to the end of the previous year[5] - The company's total equity attributable to shareholders rose by 42.57% to 4,216,489 million RMB following asset purchases[13] - Total liabilities decreased from ¥77,045,259,824.29 to ¥74,008,489,681.03, a reduction of approximately 3.4%[19] - The total liabilities of the company as of March 31, 2020, were CNY 61.57 billion, compared to CNY 65.22 billion at the end of 2019, reflecting a decrease of approximately 5.0%[18] - Current liabilities totaled ¥64,217,543,209.11, a decrease of ¥1,004,919,934.87 compared to the previous period[30] Shareholder Information - Net assets attributable to shareholders of the listed company increased by 42.57% to approximately CNY 42.16 billion from CNY 29.57 billion at the end of the previous year[5] - Total number of shareholders reached 133,026 by the end of the reporting period[10] - The largest shareholder, China Shipbuilding Industry Group Co., Ltd., holds 1,988,828,693 shares, accounting for 47.11% of total shares[10] Cash Flow - Cash inflow from operating activities decreased to ¥8,119,928,267.28 in Q1 2020 from ¥13,532,124,094.07 in Q1 2019, a decline of approximately 40.5%[26] - Net cash outflow from operating activities was ¥4,499,019,188.62 in Q1 2020, compared to a net inflow of ¥1,386,354,252.83 in Q1 2019[26] - Cash received from tax refunds was ¥570,557,228.37 in Q1 2020, compared to ¥1,008,457,417.24 in Q1 2019, indicating a decline of approximately 43.3%[26] Investments and Expenses - Research and development expenses increased to CNY 270,569,849.40 in Q1 2020 from CNY 214,519,129.78 in Q1 2019, representing a growth of 26.1%[22] - Sales expenses increased by 358.25% to 16,607 million RMB, primarily due to higher product warranty costs[13] - The company reported a significant increase in sales expenses, which rose to CNY 166,066,072.72 in Q1 2020 from CNY 36,236,122.30 in Q1 2019[22] Equity and Share Issuance - The company completed a share issuance for asset acquisition, increasing the number of shares from approximately 1.38 billion to 4.22 billion[7] - The company issued new shares, with the registration of these shares completed on March 30, 2020, allowing for future trading post lock-up period[15] Government Support - Government subsidies recognized in the current period amounted to approximately CNY 125.57 million, contributing positively to the financial results[8]