VVFB(SH:600300)2020-04-29 16:00Financial Performance - Operating revenue fell by 30.52% to CNY 1,064,840,624.64 year-on-year[5] - Net profit attributable to shareholders increased slightly by 0.27% to CNY 92,213,754.56[5] - The net profit excluding non-recurring items dropped significantly by 98.17% to CNY 378,771.28[5] - The company anticipates a significant decline in net profit compared to the previous year due to the impact of the pandemic on revenue[16] - The net profit for Q1 2020 reached CNY 97,355,634.58, an increase of 7.3% from CNY 90,323,376.65 in Q1 2019[27] - The net profit attributable to the parent company shareholders for the current period is ¥92,213,754.56, compared to ¥91,968,634.42 in the previous period, showing a slight increase[29] - The total comprehensive income for the current period is ¥91,993,140.25, up from ¥89,715,948.41 in the previous period[29] Cash Flow - Net cash flow from operating activities turned negative at CNY -70,409,311.57, a decrease of 357.84% compared to the same period last year[5] - Cash flow from operating activities for Q1 2020 is negative at -¥70,409,311.57, compared to a positive cash flow of ¥27,307,138.54 in Q1 2019[33] - The net cash flow from operating activities was negative CNY 133.71 million, compared to a positive CNY 39.24 million in the same period last year[36] - Total cash outflow for operating activities was CNY 554.29 million, an increase of 39.4% compared to CNY 397.30 million in Q1 2019[36] Assets and Liabilities - Total assets decreased by 2.48% to CNY 8,155,573,353.89 compared to the end of the previous year[5] - The total assets as of March 31, 2020, were CNY 8,155,573,353.89, down from CNY 8,362,968,418.17 at the end of 2019[18] - The total liabilities decreased to CNY 5,195,264,699.70 from CNY 5,488,122,291.33, reflecting a reduction in short-term borrowings[20] - Total liabilities decreased to CNY 4,486,871,400.79 in Q1 2020 from CNY 4,729,649,528.06 in Q1 2019, reflecting a reduction of 5.1%[25] - Shareholders' equity increased to CNY 2,300,024,149.86 in Q1 2020, up from CNY 2,278,674,824.51 in Q1 2019, representing a growth of 0.9%[25] Shareholder Information - The number of shareholders reached 86,919 by the end of the reporting period[10] - The top shareholder, Xuzhou Xinsong Investment Holding Group Co., Ltd., holds 17% of shares[10] Earnings and Expenses - The company reported basic and diluted earnings per share of CNY 0.06, unchanged from the previous year[5] - The company reported a gross profit margin of approximately 17.3% for Q1 2020, compared to 19.5% in Q1 2019[27] - Research and development expenses for Q1 2020 were CNY 3,858,045.12, slightly down from CNY 4,024,411.65 in Q1 2019[27] - The company reported a 48.99% decrease in taxes and surcharges, amounting to CNY 13,914,187.67 due to reduced income[13] Investment and Other Financial Activities - The company experienced a 91.57% drop in investment income, reporting CNY 873,812.87 compared to CNY 10,370,681.37 in the previous year[13] - The company borrowed CNY 320,500,000 from Weiyi Group, which has been fully repaid along with interest[15] - The company reported a significant increase in other receivables, which rose by 502.00% to CNY 490,794,312.42 from CNY 81,527,340.24[13] - The construction in progress increased by 135.35% to CNY 172,981,192.10, attributed to the purchase of a new office building[13]