HBSXNBM(SH:600293)2020-06-12 16:00Financial Performance - Net profit attributable to shareholders decreased by 644.49% to a loss of CNY 207,205,393.65 compared to the same period last year[5] - Operating revenue dropped by 75.13% to CNY 453,415,627.41 year-on-year[5] - Basic earnings per share fell by 650.46% to CNY -0.18 from CNY 0.0327 in the same period last year[6] - The weighted average return on net assets was -5.43%, down by 6.41 percentage points compared to the previous year[5] - The net profit after deducting non-recurring gains and losses was CNY -209,772,370.19, a decrease of 703.43% year-on-year[5] - Total revenue for Q1 2020 was CNY 453,415,627.41, a decrease of 75.13% compared to CNY 1,823,183,917.09 in Q1 2019, attributed to a significant decline in sales due to the pandemic[12] - Sales of goods and services in Q1 2020 were CNY 458,868,602.29, down 71.65% from CNY 1,618,470,058.82 in Q1 2019, again due to the pandemic's impact[12] - Net profit for Q1 2020 was a loss of ¥207,496,502.63, compared to a profit of ¥38,237,919.07 in Q1 2019, marking a negative swing of approximately 644%[26] Assets and Liabilities - Total assets increased by 2.47% to CNY 7,038,800,403.16 compared to the end of the previous year[5] - As of March 31, 2020, the company's total assets amounted to CNY 7,038,800,403.16, an increase from CNY 6,868,928,288.31 at the end of 2019[20] - Current assets increased to CNY 3,187,884,555.40 from CNY 2,834,830,656.92, primarily driven by a rise in cash and inventory levels[20] - Total liabilities increased to CNY 3,221,151,826.27 from CNY 2,845,988,485.52, indicating a rise in financial obligations[21] - The company's equity attributable to shareholders decreased to CNY 3,718,049,172.75 from CNY 3,921,878,580.04, showing a decline in shareholder value[21] - The company’s total liabilities increased, with accounts payable rising by 60.16% to CNY 401,952,851.02 from CNY 250,969,630.23, driven by an increase in acceptance bills issued for payment[12] Cash Flow - Net cash flow from operating activities was negative at CNY -21,440,072.23, a decrease of 125.66% compared to the previous year[5] - The cash flow from operating activities showed a net outflow of ¥21,440,072.23 in Q1 2020, compared to a net inflow of ¥83,563,343.45 in Q1 2019[32] - The company reported a cash outflow of ¥632,223,724.95 from operating activities in Q1 2020, compared to ¥1,749,838,335.60 in Q1 2019[32] Inventory and Costs - Inventory rose by 66.81% to CNY 541,774,774.54 from CNY 324,779,216.58, primarily due to product backlog caused by the pandemic[12] - Operating costs for Q1 2020 decreased by 75.91% to CNY 407,217,025.35 from CNY 1,690,617,090.56 in Q1 2019, reflecting the same sales decline[12] - The company reported a significant increase in other payables, rising to CNY 404,240,990.16 from CNY 287,241,543.61, indicating increased financial pressure[21] Shareholder Information - The total number of shareholders reached 44,909 at the end of the reporting period[10] - The largest shareholder, Xu Xizhong, holds 17.88% of the shares, with all shares frozen[10] Management and Future Outlook - The company terminated its share repurchase plan due to financial constraints, with a total of 1,987,000 shares repurchased, reducing total share capital from 1,162,132,046 shares to 1,160,145,046 shares[14] - The company plans to focus its limited resources on ensuring operational continuity rather than on share repurchases[15] - The company expects a cumulative net profit loss for the year due to significant impacts from the COVID-19 pandemic, including transportation disruptions and a sharp decline in product prices[16] - The company is facing liquidity challenges due to ongoing litigation and reduced bank cooperation, impacting its operational capabilities[16]