ZJQY(SH:600210)2020-04-29 16:00Financial Performance - Operating revenue decreased by 17.81% to CNY 1,853,849,416.36 year-on-year[11] - Net profit attributable to shareholders decreased by 27.79% to CNY 42,488,168.40 compared to the same period last year[11] - Total profit decreased by 33.25% to 52,604,102.13, impacted by a decline in sales revenue due to the COVID-19 pandemic[18] - Basic earnings per share decreased by 28.21% to CNY 0.028 per share compared to the previous year[11] - The company's operating revenue for Q1 2020 was ¥367,870,111.31, a decrease of 15.7% compared to ¥436,431,511.07 in Q1 2019[54] - The net profit for Q1 2020 was ¥18,239,471.40, an increase of 63.5% from ¥11,137,094.78 in Q1 2019[54] - The total profit for Q1 2020 was ¥18,266,416.77, an increase from ¥11,850,097.33 in Q1 2019, showing overall profitability despite revenue challenges[54] Cash Flow - Net cash flow from operating activities was negative at CNY -129,087,628.50, a decrease of 212.87% year-on-year[11] - Cash inflow from operating activities for Q1 2020 was CNY 2,069,922,108.02, a decrease of 14.7% from CNY 2,426,548,268.53 in Q1 2019[57] - Cash inflow from investment activities totaled CNY 24,233,916.61 in Q1 2020, down 49.8% from CNY 48,216,989.14 in Q1 2019[57] - Cash inflow from financing activities was CNY 1,503,617,609.80 in Q1 2020, an increase of 12.7% from CNY 1,333,800,000.00 in Q1 2019[59] - The company reported a decrease in cash outflow for operating activities to CNY 2,252,548,139.74 in Q1 2020 from CNY 2,509,951,949.16 in Q1 2019, a reduction of 10.2%[57] Assets and Liabilities - Total assets increased by 2.98% to CNY 11,102,372,515.80 compared to the end of the previous year[11] - Accounts receivable decreased by 32.78% to 14,736,254.48 from 21,921,666.05 due to fewer notes received during the reporting period[17] - Long-term borrowings increased by 33.80% to 792,359,193.33, attributed to the addition of new long-term borrowings during the reporting period[17] - Total current liabilities decreased to 4,758,275,814.24 CNY from 4,880,633,256.62 CNY at the end of 2019[42] - Total liabilities amounted to CNY 5,262,273,764.93 in Q1 2020, up from CNY 4,464,075,764.73 in Q4 2019, indicating a 17.9% rise[46] Shareholder Information - The total number of shareholders at the end of the reporting period was 111,293[14] - The largest shareholder, Shanghai Zijiang (Group) Co., Ltd., holds 26.06% of the shares[14] - After the capital increase, the company's ownership in Zijiang New Materials decreased from 70.00% to 63.00%, while the new investors hold 10.01%[32] Government Support and Donations - The company received government subsidies amounting to CNY 6,467,851.39 related to normal business operations[11] - The company made donations totaling 10 million yuan to combat the COVID-19 pandemic, contributing to increased operating expenses[22] - Other income increased by 61.54% to 3,709,317.67, mainly due to a higher amount of government subsidies received[20] Investment and Subsidiary Activities - The company plans to spin off its subsidiary, Zijiang New Materials, for a listing on the Sci-Tech Innovation Board, while maintaining control over it[31] - The company completed a capital increase for its subsidiary, Shanghai Zijiang New Materials Technology Co., Ltd., raising a total of 90,067,609.80 CNY, with 5,559,729 new shares issued[32] Inventory and Prepayments - Prepayments increased by 32.36% to 345,975,221.38, primarily due to increased advance payments for raw material purchases[17] - Inventory increased to CNY 100,754,117.51 in Q1 2020, up from CNY 67,085,202.62 in Q4 2019, representing a 50% growth[45]