Rightway Holdings(SH:600321)2020-04-29 16:00Financial Performance - Operating revenue decreased by 78.61% to CNY 84,101,800.20 compared to the same period last year[5] - Net profit attributable to shareholders decreased by 1,252.08% to a loss of CNY 35,600,498.29 compared to the same period last year[5] - Basic and diluted earnings per share both reported a loss of CNY 0.0236, a decrease of 1,280.00% compared to the previous year[5] - Total operating revenue for Q1 2020 was ¥84,101,800.20, a decrease of 78.6% compared to ¥393,142,420.68 in Q1 2019[29] - Net profit for Q1 2020 was a loss of ¥35,691,077.81, compared to a profit of ¥2,971,639.47 in Q1 2019[30] - Total comprehensive income for Q1 2020 was CNY -35,691,077.81, compared to CNY 2,971,639.47 in Q1 2019, showing a drastic decline[31] - Operating profit for Q1 2020 was CNY -10,272,848.08, compared to CNY -2,519,547.88 in Q1 2019, indicating a significant decline in profitability[33] - Net profit for Q1 2020 was CNY -9,594,240.84, compared to CNY -2,527,994.44 in Q1 2019, reflecting a worsening financial position[33] Cash Flow - Cash flow from operating activities showed a significant decline of 454.27%, resulting in a negative cash flow of CNY 785,727,808.29[5] - The net cash flow from operating activities was negative at RMB -785,727,808.29, significantly impacted by land use payments[11] - Cash flow from operating activities for Q1 2020 was CNY -785,727,808.29, compared to CNY -141,759,522.04 in Q1 2019, indicating a significant cash outflow[35] - The net cash flow from financing activities was -$32.60 million, compared to $7.71 million in the same quarter last year[38] - The total cash outflow from financing activities was $32.60 million, consistent with the previous year's outflow of $32.29 million[38] Assets and Liabilities - Total assets increased by 17.94% to CNY 4,175,623,263.31 compared to the end of the previous year[5] - The company's total assets and liabilities showed significant changes, with a notable decrease in receivables by 75.21% to RMB 5,365,852.07[9] - The company's total liabilities increased to approximately 1.48 billion yuan from 809.74 million yuan at the end of 2019[23] - Total assets as of March 31, 2020, amounted to ¥3,431,608,307.10, an increase from ¥3,407,913,041.51 at the end of 2019[27] - Total liabilities as of March 31, 2020, were ¥712,640,276.72, compared to ¥679,350,770.29 at the end of 2019[27] Shareholder Information - The total number of shareholders reached 60,004 by the end of the reporting period[7] - The top ten shareholders held a combined 69.07% of the total shares, with the largest shareholder owning 24.84%[7] - The company’s major shareholder, Zhengyuan Real Estate Development Co., Ltd., increased its stake by acquiring 15,370,000 shares, representing 1.02% of the total share capital, for a total amount of RMB 31,564,700[12] Inventory and Costs - Inventory increased by 309.94% to RMB 1,072,281,577.91, primarily due to payments for the Zhengyuanhui project land transfer price[10] - Total operating costs for Q1 2020 were ¥122,602,804.83, up 15.4% from ¥388,119,353.12 in Q1 2019[29] Strategic Developments - The company plans to develop the "Shuangliu Zhengyuan International Hui Industrial City Integration Project," integrating 525 acres of land in Chengdu for a mixed-use development[13] - The company is actively developing the "Shuangliu·Zhengyuan International Huichan City Integration Project" to leverage existing business advantages and promote urban integration[16] Other Financial Metrics - The company reported non-recurring gains of CNY 1,028,531.66, primarily from government subsidies and investment income[6][7] - The company reported a significant increase in management expenses to CNY 7,734,704.85 in Q1 2020, compared to CNY 6,647,950.38 in Q1 2019[32] - The company incurred financial expenses of CNY 5,884,636.96 in Q1 2020, slightly up from CNY 5,626,225.51 in Q1 2019[32]