CPEC(SH:600339)2020-04-28 16:00Financial Performance - Net profit attributable to shareholders was -¥415.74 million, a decrease of 736.19% year-on-year[4] - Operating revenue for the period was ¥9.69 billion, representing a year-on-year increase of 3.64%[4] - The gross profit margin decreased to 5.44%, down 4.26 percentage points year-on-year, with gross profit of ¥527 million, a decrease of ¥380 million[6] - Basic earnings per share were -¥0.0745, a decrease of 736.75% compared to the previous year[4] - Net profit attributable to shareholders decreased by 736.19% to -¥415,736,246.92 from ¥65,347,842.74, mainly due to reduced gross profit and increased financial expenses[10] - The net profit for Q1 2020 was -416,407,621.48 CNY, compared to a profit of 64,980,577.54 CNY in Q1 2019, indicating a significant decline[25] - The total profit for Q1 2020 was -278,548,555.32 CNY, down from 216,388,675.33 CNY in the same period last year[25] - The total comprehensive income for Q1 2020 was -416,442,290.85 CNY, compared to 64,958,936.54 CNY in Q1 2019[26] Assets and Liabilities - Total assets at the end of the reporting period reached ¥94.38 billion, an increase of 1.36% compared to the end of the previous year[4] - As of March 31, 2020, the company had a total liability of approximately ¥94.38 billion, an increase from ¥93.11 billion at the end of 2019[19] - Total liabilities increased to ¥70,988,005,628.82 from ¥69,307,707,648.81, marking a rise of about 2.4%[22] - Total assets decreased to ¥93,113,583,031.14 from ¥95,475,451,310.38, a reduction of ¥2,361,868,279.24[40] - Current assets totaled ¥84,930,948,322.39, down from ¥87,292,816,601.63, reflecting a decrease of ¥2,361,868,279.24[40] - Total liabilities amounted to ¥69,307,707,648.81, a decrease from ¥71,669,575,928.05, showing a reduction of ¥2,361,868,279.24[38] Cash Flow - Cash and cash equivalents decreased by 23.85% to ¥23,718,139,161.21 from ¥31,147,411,134.25 due to increased net cash outflow from operating activities[9] - Cash flow from operating activities in Q1 2020 was 10,220,265,879.33 CNY, a decrease from 11,745,127,897.86 CNY in Q1 2019[29] - Cash outflow from operating activities totaled 18,867,296,674.85 RMB, an increase of approximately 7% from 17,602,313,848.89 RMB[31] - Cash flow from investment activities showed a net outflow of -52,366,037.41 RMB, compared to -2,138,489.69 RMB in the previous year, reflecting a significant increase in outflow[31] - The ending balance of cash and cash equivalents was 23,563,271,098.52 RMB, down from 27,917,272,131.90 RMB, a decrease of approximately 15.7%[32] Contracts and Projects - The company signed 1,014 new projects with a total contract value of ¥17.79 billion, an increase of 57.60% compared to the same period last year[6] - As of the end of the first quarter, the company had a total of ¥70.92 billion in contracts that were won but not yet signed[6] Cost Management - The company has implemented a cost control strategy, emphasizing that "all costs can be reduced," and has established a comprehensive management system for receivables[13] - The company aims to enhance market resilience by focusing on core business and key markets, improving project execution, and optimizing management operations[12] Challenges and Responses - The company faced significant challenges due to the COVID-19 pandemic and low oil prices, impacting project organization and cost control[5] - The company actively promoted the resumption of work and production, focusing on key projects to drive overall recovery[5] Investment and Financial Strategy - The company plans to optimize its investment structure, directing limited funds towards projects with better prospects and returns[14] - Financial expenses increased by 43.87% to ¥134,339,539.02 from ¥93,373,050.89, primarily due to a decrease in interest income[10] Equity and Shareholder Information - The total equity attributable to shareholders decreased to ¥23,342,394,671.97 from ¥23,752,256,946.45, reflecting a decline of about 1.7%[22] - The company reported a total of ¥3.78 billion in guarantees provided to subsidiaries, with no performance guarantees issued during the reporting period[15]