LING STEEL(SH:600231)2020-04-29 16:00Financial Performance - Net profit attributable to shareholders was CNY 4,459,191.16, down 93.50% year-on-year[10] - Operating revenue for the period was CNY 4,286,988,645.12, a decrease of 16.84% compared to the same period last year[10] - Basic earnings per share were CNY 0.002, a decrease of 93.50% compared to the previous year[10] - Total profit dropped by 90.68% to ¥9.4 million from ¥101.1 million year-on-year[3] - Net profit decreased by 93.5% to ¥4.5 million from ¥68.6 million in the same period last year[3] - Operating profit fell by 88.51% to ¥12.8 million compared to ¥111.0 million in the previous year[3] - The total comprehensive income for Q1 2020 was ¥4,459,191.16, significantly lower than ¥68,617,490.28 in Q1 2019[48] Assets and Liabilities - Total assets at the end of the reporting period were CNY 15,812,718,338.96, a decrease of 0.52% compared to the end of the previous year[10] - The company's total assets decreased to CNY 16,686,700,372.19 from CNY 17,159,846,017.40[38] - Total liabilities decreased to approximately ¥8.05 billion from ¥8.15 billion, indicating a reduction in financial obligations[33] - Total liabilities amounted to approximately ¥8.15 billion, with current liabilities at ¥7.80 billion and non-current liabilities at ¥349.48 million[61] - The company’s total equity attributable to shareholders increased slightly to approximately ¥7.76 billion from ¥7.75 billion, indicating stable shareholder value[33] Cash Flow - Net cash flow from operating activities reached CNY 466,745,266.86, an increase of 806.38% year-on-year[10] - Cash flow from operating activities increased significantly by 806.38% to ¥466.7 million from ¥51.5 million in the previous year[3] - The cash inflow from operating activities totaled ¥5,065,263,246.45 in Q1 2020, compared to ¥4,569,971,955.67 in Q1 2019[52] - The cash outflow from operating activities was ¥4,598,517,979.59 in Q1 2020, slightly higher than ¥4,518,476,179.16 in Q1 2019[52] - The company reported a net cash outflow from investing activities of ¥86,009,016.84 in Q1 2020, compared to a net inflow of ¥1,094,124.09 in Q1 2019[52] Shareholder Information - The total number of shareholders at the end of the reporting period was 60,948[12] - The largest shareholder, Lingyuan Iron and Steel Group Co., Ltd., held 957,960,606 shares, accounting for 34.57% of total shares[12] Expenses - The company reported a significant decrease in tax expenses by 84.71% to ¥5.0 million from ¥32.5 million year-on-year[3] - The company reported a decrease in research and development expenses to CNY 1,499,900.86 from CNY 3,481,767.57[43] - The company's financial expenses decreased to ¥6,593,840.99 in Q1 2020 from ¥24,981,254.60 in Q1 2019[48] Inventory and Receivables - Accounts receivable increased by 117.61% to ¥193.1 million compared to ¥88.7 million in the previous year[3] - Inventory remained stable at approximately ¥1.57 billion, showing effective inventory management[31] - The company’s inventory was valued at approximately ¥1.27 billion, which is critical for operational efficiency[65] Government Support - Government subsidies recognized in the current period amounted to CNY 6,288,870.17[10] Financing and Borrowings - Long-term borrowings increased by 53.18% to ¥99.0 million from ¥64.7 million year-on-year[3] - Short-term borrowings decreased to approximately ¥1.63 billion from ¥1.73 billion, reflecting a decrease in reliance on debt financing[33] - The company reported a long-term loan of ¥64.65 million and long-term payables of approximately ¥194.18 million[67] Other Financial Metrics - The weighted average return on net assets was 0.06%, down 0.86 percentage points from the previous year[10] - The company has a deferred income tax liability of approximately ¥46.13 million, which may impact future tax obligations[61] - The company has a contract liability of approximately ¥685.38 million, indicating future revenue obligations[61]