GRIAM(SH:600206)2020-04-29 16:00Financial Performance - Operating revenue rose by 38.77% to CNY 2,223,972,031.19 year-on-year[11] - Net profit attributable to shareholders decreased by 53.75% to CNY 6,810,602.35 compared to the same period last year[11] - Basic earnings per share dropped by 52.94% to CNY 0.008 from CNY 0.017 year-on-year[11] - The weighted average return on net assets decreased by 0.28 percentage points to 0.22%[11] - The company reported a significant decrease in investment income, down 36.36% to CNY 5,077,616.37 from CNY 7,978,814.02[23] - Net profit for Q1 2020 was CNY 6,051,202.01, down from CNY 15,783,059.15 in Q1 2019, indicating a decline of approximately 61.7%[46] - The total comprehensive income for Q1 2020 was CNY 6,051,202.01, compared to CNY 15,783,059.15 in Q1 2019, indicating a decrease of approximately 61.7%[49] Assets and Liabilities - Total assets increased by 5.22% to CNY 4,003,936,336.22 compared to the end of the previous year[11] - The total number of shareholders at the end of the reporting period was 99,790[16] - The total current assets amounted to RMB 2,749,092,930.74, an increase of 7.75% compared to RMB 2,551,501,976.49 as of December 31, 2019[31] - Total liabilities increased significantly, with accounts payable rising by 326.70% to CNY 248,718,161.07 due to increased procurement of raw materials[21] - Total liabilities as of March 31, 2020, were RMB 679,920,922.27, up from RMB 539,337,509.11, indicating a growth of 25.9%[34] - The total current liabilities increased to RMB 548,298,930.59, up from RMB 399,548,251.00, marking a rise of 37.4%[34] - The total liabilities amounted to 539,337,509.11 RMB, reflecting the company's financial obligations[67] Cash Flow - Net cash flow from operating activities was negative at CNY -479,656,085.02, worsening from CNY -312,034,903.41 in the previous year[11] - The net cash flow from operating activities for Q1 2020 was -391,415.79 RMB, compared to -5,597,419.00 RMB in Q1 2019, indicating an improvement[60] - Cash inflow from investment activities in Q1 2020 was ¥3,715,178,119.63, an increase from ¥2,785,191,814.02 in Q1 2019[58] - The net cash flow from investment activities for Q1 2020 was ¥137,189,671.73, compared to a net outflow of ¥164,452,793.63 in Q1 2019[58] - The company reported a cash flow from financing activities net amounting to -334,668,932.14 RMB, indicating a higher cash outflow compared to -289,234,667.68 RMB in the previous year[62] Shareholder Information - The largest shareholder, Yuyuan Technology Group Co., Ltd., holds 33.29% of the shares[16] - The company's equity attributable to shareholders increased to RMB 3,085,505,239.55 from RMB 3,062,124,571.53, a rise of 0.76%[36] - The total equity attributable to shareholders reached ¥3,062,124,571.53, while total equity was ¥3,265,842,337.88[71] Operational Metrics - The company's cash and cash equivalents decreased by 58.52% to CNY 209,215,497.35 from CNY 504,359,951.11 due to increased operational expenditures[21] - Accounts receivable increased by 104.06% to CNY 518,143,064.31, attributed to longer collection periods from domestic customers[21] - Inventory levels rose by 32.42% to CNY 916,812,356.80, indicating an increase in raw material stock[21] - The operating cost for Q1 2020 was CNY 2,150,289,204.90, a 41.19% increase from CNY 1,522,979,157.50 in the same period last year[23] - The company reported a significant increase in non-operating income, totaling CNY 1,259,953.45[16] Research and Development - Research and development expenses for Q1 2020 were CNY 21,699,427.14, compared to CNY 26,650,389.36 in Q1 2019, showing a decrease of approximately 18.6%[46] Compliance and Standards - The company executed the new revenue recognition standard starting January 1, 2020, with no significant impact on financial reporting[79] - The company adjusted its beginning retained earnings and financial statement items due to the new revenue standard, reflecting a proactive compliance approach[79]