ANGEL YEAST(SH:600298)2020-04-22 16:00Financial Performance - Net profit attributable to shareholders rose by 28.00% to CNY 303,314,536.29 year-on-year[4] - Operating income grew by 12.68% to CNY 2,050,353,784.52 compared to the same period last year[4] - Basic earnings per share increased by 27.99% to CNY 0.3681[4] - The weighted average return on equity improved by 0.60 percentage points to 5.95%[4] - Total operating revenue for Q1 2020 was CNY 2,050,353,784.52, an increase of 12.67% compared to CNY 1,819,648,286.56 in Q1 2019[26] - Net profit for Q1 2020 reached CNY 319,598,615.73, compared to CNY 245,894,968.50 in Q1 2019, representing a growth of 29.93%[27] - Earnings per share (EPS) for Q1 2020 was CNY 0.3681, an increase from CNY 0.2876 in Q1 2019[28] Cash Flow - Net cash flow from operating activities surged by 919.82% to CNY 276,676,318.46[4] - The cash flow from operating activities for Q1 2020 was CNY 276,676,318.46, significantly higher than CNY 27,129,891.88 in Q1 2019[33] - The net cash flow from financing activities improved by 230.46% to RMB 113,275,590.87, primarily due to increased borrowings[16] - The total cash inflow from financing activities in Q1 2020 was CNY 1,680,000,000.00, compared to CNY 1,354,400,000.00 in Q1 2019[34] - The net cash flow from investing activities was -RMB 27,720,145.22, an improvement from -RMB 32,504,242.49 in Q1 2019, showing a decrease in cash outflow of about 14.5%[36] Assets and Liabilities - Total assets increased by 2.58% to CNY 10,162,181,630.71 compared to the end of the previous year[4] - Total current assets as of March 31, 2020, amounted to RMB 4,287,129,082.46, an increase from RMB 3,865,938,082.59 as of December 31, 2019, representing a growth of approximately 10.9%[20] - Total liabilities amounted to RMB 4,704,885,092.40, compared to RMB 4,609,253,039.24, reflecting a rise of about 2.1%[21] - Short-term borrowings rose by 119.41% to RMB 1,727,250,595.22, mainly to repay other current liabilities[10] - The total liabilities for Q1 2020 were CNY 4,092,567,998.36, an increase from CNY 3,891,743,301.30 in Q1 2019[25] Shareholder Information - The number of shareholders reached 31,461 by the end of the reporting period[7] - The largest shareholder, Hubei Angel Yeast Group Co., Ltd., holds 39.98% of the shares[7] Government Support and Other Income - The company received government subsidies amounting to CNY 30,161,318.73 related to its normal business operations[5] - Other income rose significantly by 440.35% to RMB 29,035,480.65, primarily from export subsidies received by the Egyptian subsidiary[12] Taxation - The company reported a 66.87% increase in taxes payable, amounting to RMB 128,725,939.30, due to taxes accrued in the first quarter[11] - The company experienced a 68.01% decrease in tax refunds received, totaling RMB 7,266,717.39, attributed to reduced export tax rebates[15] Research and Development - Research and development expenses for Q1 2020 were CNY 66,977,831.64, a decrease from CNY 73,139,870.29 in Q1 2019, reflecting a reduction of 8.87%[26] - The company reported a decrease in research and development expenses to CNY 38,185,427.16 in Q1 2020 from CNY 48,841,639.41 in Q1 2019[29] Comprehensive Income - The company reported a total comprehensive income of CNY 159,914,014.09 for Q1 2020, compared to CNY 288,237,761.70 in Q1 2019[28] Financial Expenses - Financial expenses increased by 81.40% to RMB 35,127,139.56, largely due to exchange losses from the depreciation of the ruble[11] - The company's financial expenses for Q1 2020 showed a significant increase, with interest expenses at CNY 20,772,060.89 compared to CNY 18,659,159.92 in Q1 2019[29]