HDAA(SH:600316)2020-04-23 16:00Financial Performance - Operating revenue decreased by 51.74% to CNY 212,617,903.62 from CNY 440,562,089.66 in the same period last year[11] - Net profit attributable to shareholders was CNY -11,674,063.12, an improvement from CNY -44,575,419.31 in the same period last year[11] - The company's operating revenue for Q1 2020 was 212,617,903.62, a decrease of 51.74% compared to Q1 2019's 440,562,089.66, primarily due to reduced product deliveries impacted by the COVID-19 pandemic[19] - Operating profit for Q1 2020 was -¥10,749,138.81, an improvement from -¥40,917,763.52 in Q1 2019[38] - Net profit for Q1 2020 was -¥10,698,359.48, compared to -¥40,787,300.41 in Q1 2019[38] - The company reported a net loss of approximately ¥11.98 million for Q1 2020, compared to a net loss of approximately ¥44.66 million in Q1 2019, indicating a significant improvement[39] - Total revenue for Q1 2020 was approximately ¥186.51 million, down from ¥215.68 million in Q1 2019, representing a decrease of about 13.5%[45] - Operating profit for Q1 2020 was approximately -¥9.53 million, compared to -¥42.08 million in Q1 2019, showing a substantial reduction in losses[45] - The total comprehensive loss for Q1 2020 was approximately -¥10.67 million, compared to -¥45.42 million in Q1 2019, indicating a notable reduction in overall losses[47] Cash Flow - Net cash flow from operating activities was negative at CNY -319,019,022.03, a decline of 210.34% compared to the previous year[11] - The net cash flow from operating activities was -319,019,022.03, a significant decrease compared to 289,133,936.39 in the previous year[50] - Cash inflow from operating activities for Q1 2020 was approximately ¥112.62 million, a decrease from ¥1,017.09 million in Q1 2019[47] - The company reported a net cash flow from investing activities of 397,224,694.73 in Q1 2020, which is not comparable to the previous year due to the receipt of partial asset exchange consideration[19] - Cash inflow from investment activities totaled 400,763,883.82, while cash outflow was 3,539,189.09, resulting in a net cash flow of 397,224,694.73[50] - Cash inflow from financing activities was 550,000,000.00, with cash outflow of 453,065,502.78, leading to a net cash flow of 96,934,497.22[50] Assets and Liabilities - Total assets increased by 6.33% to CNY 8,970,263,548.09 compared to the end of the previous year[11] - The total assets as of March 31, 2020, were 8,970,263,548.09, an increase from 8,436,431,737.75 as of December 31, 2019[22] - Total liabilities rose to ¥3,937,814,062.21 in Q1 2020, up from ¥3,399,034,548.63 in Q1 2019, indicating an increase of 15.8%[33] - Current assets totaled ¥6,788,873,793.83 in Q1 2020, compared to ¥6,244,521,329.45 in Q1 2019, reflecting a growth of 8.7%[33] - Cash and cash equivalents increased by 31.48% to CNY 731,788,521.53 due to receipt of asset exchange consideration[17] - Cash and cash equivalents at the end of the period stood at 676,922,004.94, up from 124,867,570.75 in the previous year[53] Shareholder Information - The number of shareholders at the end of the reporting period was 56,603[12] Inventory and Accounts - Inventory levels increased significantly to 3,324,880,697.25 in Q1 2020 from 2,616,929,782.38 in Q1 2019, suggesting potential overstocking issues[22] - Accounts payable increased by 45.60% to CNY 2,169,507,690.65 due to increased procurement[17] - Accounts receivable rose to 2,206,234,159.53 in Q1 2020, compared to 2,142,239,790.29 in Q1 2019, indicating a slight increase in credit sales[22] - Inventory increased to ¥3,257,493,066.86 in Q1 2020 from ¥2,558,328,829.98 in Q1 2019, marking a rise of 27.4%[33] Financial Expenses - The company reported a decrease in financial expenses to 1,266,431.42 in Q1 2020, down 93.73% from 20,182,403.33 in Q1 2019, as there were no mid-term note interest payments in the current period[19] - The company reported a financial expense of approximately ¥846.38 million in Q1 2020, significantly lower than ¥24.32 million in Q1 2019[45] Research and Development - The company incurred research and development expenses of approximately ¥8.39 million in Q1 2020, slightly down from ¥9.36 million in Q1 2019[45] Dividend Policy - The company paid 3,065,502.78 in dividends, a decrease from 81,457,523.46 in the previous year, reflecting a shift in dividend policy[53] Accounting Practices - The company did not apply new revenue and leasing standards for the current year, indicating a continuation of previous accounting practices[55]