ycec(SH:600248)2020-04-29 16:00Financial Performance - Operating revenue fell by 50.79% to CNY 751,171,969.06 year-on-year[12] - Net profit attributable to shareholders was CNY -20,361,060.08, a decline of 142.86% compared to the same period last year[12] - Basic earnings per share decreased by 142.86% to CNY -0.0222[12] - Net profit for the period was a loss of ¥20,361,060.08, a decline of 142.86% from a profit of ¥47,507,217.20 in the previous period, attributed to lower construction progress and increased credit impairment losses[22] - Operating profit for the quarter was a loss of ¥22,349,478.90, compared to a profit of ¥56,510,702.39 in the same quarter last year[47] - The total profit for the quarter was a loss of ¥22,275,190.80, down from a profit of ¥56,652,934.59 year-over-year[47] Cash Flow - Net cash flow from operating activities was CNY -264,282,505.28, showing a significant deterioration[12] - Cash flow from operating activities showed a net outflow of ¥264,282,505.28, worsening by 182.01% compared to a net outflow of ¥93,714,438.98 in the previous period, due to slower collection progress and reduced project completion[22] - The net cash flow from operating activities for Q1 2020 was -264,282,505.28 RMB, compared to -93,714,438.98 RMB in Q1 2019, indicating a significant decline[57] - Total cash outflow from operating activities in Q1 2020 was 1,384,017,586.41 RMB, compared to 1,666,464,561.90 RMB in Q1 2019, showing a reduction of about 17.0%[57] - The net cash flow from financing activities in Q1 2020 was 95,000,000.00 RMB, compared to -1,193,779.67 RMB in Q1 2019, indicating a positive turnaround[57] Assets and Liabilities - Total assets decreased by 6.88% to CNY 7,831,850,577.11 compared to the end of the previous year[12] - Total liabilities decreased to ¥3,701,746.64 in Q1 2020 from ¥4,404,993.62 in Q4 2019, reflecting a reduction of approximately 15.9%[43] - The total liabilities amounted to 5,450,976,060.91 RMB, with a minor increase of 1,457,691.56 RMB compared to the previous period[67] - The total current assets amounted to 7,266,453,058.85 RMB, with a slight increase of 1,457,691.56 RMB compared to the previous period[64] Inventory and Receivables - Accounts receivable increased by 73.91% to CNY 24,284,532.65 due to an increase in commercial acceptance bills received[20] - Inventory decreased by 88.85% to CNY 232,509,983.72 as a result of the new revenue recognition standards[20] - The company reported a significant decrease in inventory, with current inventory at ¥232,509,983.72 compared to ¥2,085,186,564.21 in the previous period[32] - The inventory was reported at 2,085,186,564.21 RMB, reflecting a significant adjustment of -1,933,130,157.10 RMB[64] Shareholder Information - The total number of shareholders was 25,857, with the largest shareholder holding 29.00% of shares[16] - Owner's equity totaled ¥2,248,134,676.81 as of March 31, 2020, compared to ¥2,249,811,241.59 at the end of 2019, indicating a marginal decline[43] Company Strategy and Developments - The company has not disclosed any new product developments or market expansion strategies in this report[20] - The company plans to issue shares to acquire 100% of Shaanxi Construction Group Co., Ltd. and merge it, which constitutes a major asset restructuring[22] - The company implemented new revenue recognition standards starting January 1, 2020, affecting the financial statements[70]