THGW(SH:600365)2020-04-29 16:00Financial Performance - Operating revenue decreased by 43.15% to CNY 220,092,584.43 compared to the same period last year[7] - Net profit attributable to shareholders was a loss of CNY 633,565.87, a decrease of 147.67% year-on-year[7] - The company's operating revenue for Q1 2020 was ¥220,092,584.43, a decrease of ¥167,080,153.50 or 43.15% compared to Q1 2019[22] - Net profit for Q1 2020 was CNY 1,611,351.50, a decline of 68.8% from CNY 5,147,345.32 in Q1 2019[40] - The company reported a loss attributable to shareholders of CNY -633,565.87 in Q1 2020, compared to a profit of CNY 1,329,198.16 in Q1 2019[40] - Total operating revenue for Q1 2020 was CNY 220,092,584.43, a decrease of 43.2% compared to CNY 387,172,737.93 in Q1 2019[39] - Total operating costs for Q1 2020 were CNY 216,601,293.05, down 42.6% from CNY 377,644,845.62 in Q1 2019[39] - Basic earnings per share for Q1 2020 were CNY -0.002, compared to CNY 0.003 in Q1 2019[40] Cash Flow - Cash flow from operating activities was CNY 90,905,542.94, compared to a negative cash flow of CNY 60,645,591.21 in the same period last year[7] - The net cash flow from operating activities improved by ¥151,551,134.15, totaling ¥90,905,542.94, compared to a negative cash flow in the same period last year[27] - Cash flow from operating activities for Q1 2020 was CNY 90,905,542.94, a significant improvement from a negative cash flow of CNY 60,645,591.21 in Q1 2019[47] - Cash flow from financing activities generated a net inflow of CNY 5,194,645.15 in Q1 2020, compared to a net outflow of CNY 113,079,224.07 in Q1 2019[48] - The total net decrease in cash and cash equivalents for Q1 2020 was -CNY 9,734,730.13, compared to -CNY 161,448,808.82 in Q1 2019, showing a significant reduction of 94.0%[51] Assets and Liabilities - Total assets increased by 4.55% to CNY 1,195,096,516.37 compared to the end of the previous year[7] - The total assets as of March 31, 2020, amounted to ¥1,195,096,516.37, an increase from ¥1,143,133,601.57 at the end of 2019[32] - The company's total liabilities increased to ¥459,202,250.74 from ¥408,850,687.44, reflecting a rise in both short-term and long-term borrowings[33] - Current assets totaled CNY 526,341,355.00 as of March 31, 2020, compared to CNY 526,853,043.31 at the end of 2019[36] - The company’s total equity as of March 31, 2020, was CNY 723,242,784.09, a decrease from CNY 725,743,387.29 at the end of 2019[37] Shareholder Information - The number of shareholders reached 27,422 at the end of the reporting period[10] Operational Efficiency - Operating costs decreased by ¥151,016,895.99 or 47.59%, totaling ¥166,285,510.15, primarily due to the decline in sales[22] - The company reported a decrease in inventory to ¥225,263,653.80 from ¥314,316,397.99, suggesting improved inventory management[31] - Accounts receivable increased by 39.94% to CNY 117,608,534.38 due to increased customer debts[12] - Accounts payable rose to ¥55,327,834.73, up from ¥38,376,886.43, indicating an increase in procurement on credit[32] Financial Ratios - The weighted average return on equity decreased by 0.22 percentage points to -0.10%[7] - Financial expenses increased by ¥2,007,098.47 or 80.02%, reaching ¥4,515,266.70, attributed to higher interest payments by a subsidiary[24] Research and Development - Research and development expenses increased to CNY 201,457.10 in Q1 2020 from CNY 186,668.05 in Q1 2019, reflecting a growth of 7.9%[43] Audit and Compliance - The financial report for Q1 2020 was not audited, which may affect the reliability of the reported figures[52] - The company did not apply new revenue and lease standards in 2020, indicating stability in accounting practices[52]