ELION(SH:600277)2020-04-28 16:00Financial Performance - Net profit attributable to shareholders decreased by 68.81% to CNY 81,035,140.52 year-on-year[12] - Operating revenue declined by 22.35% to CNY 2,587,311,544.20 compared to the same period last year[12] - Basic earnings per share decreased by 66.67% to CNY 0.03[12] - The weighted average return on net assets fell by 1.21 percentage points to 0.53%[12] - Other income decreased by 79.90% year-on-year, primarily due to a reduction in government subsidies[23] - The net profit attributable to the parent company's shareholders decreased by 68.81% year-on-year, primarily due to the impact of the pandemic, which led to insufficient production in downstream industries and a decline in both sales volume and prices[27] - Interest income decreased by 55.70% compared to the previous year, mainly due to unrecognized interest from time deposits[23] - Investment income fell by 44.20% year-on-year, attributed to the sale of trading financial assets in the previous year[23] Cash Flow - Net cash flow from operating activities dropped significantly by 96.98% to CNY 36,886,626.63[12] - Cash received from tax refunds decreased by 79.56% to CNY 1,256,332.73 from CNY 6,146,717.14[28] - Cash received from other operating activities decreased by 51.22% to CNY 244,601,040.23 from CNY 501,404,305.47[28] - Cash paid for purchasing goods and services increased by 44.25% to CNY 2,311,059,288.16 from CNY 1,602,071,254.01[28] - The net cash flow from investing activities decreased by 210.71% to -CNY 99,002,012.43 from CNY 89,422,903.62[28] - Cash received from borrowings increased by 177.39% to CNY 2,210,366,676.47 from CNY 796,857,190.00[28] - Cash received from other financing activities increased by 768.10% to CNY 958,319,444.49 from CNY 110,392,500.00[28] - Cash paid for debt repayment increased by 120.29% to CNY 1,517,532,527.98 from CNY 688,871,156.94[28] Assets and Liabilities - Total assets increased by 1.84% to CNY 35,120,082,850.32 compared to the end of the previous year[12] - The company's total liabilities increased to CNY 16.58 billion from CNY 16.11 billion, reflecting a growth of about 2.9%[54] - The equity attributable to shareholders of the parent company rose to CNY 15.51 billion from CNY 15.37 billion, an increase of approximately 0.9%[54] - The company's long-term borrowings increased by 33.57% due to the reclassification of certain non-current liabilities[22] - The company's contract liabilities reached 616,920,373.82 RMB, indicating a shift in revenue recognition practices[22] - The company's total pledged shares amounted to 49.07%, with 2,351,467 shares remaining frozen[21] Shareholder Information - The total number of shareholders at the end of the reporting period was 64,457[16] - The largest shareholder, Yili Resources Group Co., Ltd., holds 49.16% of the shares, totaling 1,346,351,467 shares[16] Research and Development - Research and development expenses increased significantly, reflecting the company's commitment to enhancing its R&D efforts[26] - Research and development expenses increased to ¥63,649,873.45 in Q1 2020, compared to ¥10,966,421.73 in Q1 2019, indicating a focus on innovation[63] Government Support - The company received government subsidies amounting to CNY 7,597,865.13 during the reporting period[15] Strategic Investments - The company is in the process of acquiring 60% equity of Zhangjiakou Jingzhang Welcome Corridor Ecological Energy Co., Ltd. and 100% equity of Zhangjiakou Yiyuan New Energy Development Co., Ltd.[42] - The company has ongoing investments in clean energy projects, focusing on high-quality and efficient clean heating and energy-saving projects[43] Inventory and Receivables - Accounts receivable increased to CNY 913.93 million from CNY 878.25 million, representing a rise of approximately 4.1% year-over-year[49] - The company's inventory as of March 31, 2020, stands at CNY 544.24 million, up from CNY 441.08 million, indicating a growth of about 23.4%[49]