HY Energy(SH:600387)2020-04-29 16:00Financial Performance - Operating revenue decreased by 45.01% to CNY 1,877,398,061.88 year-on-year[5] - Net profit attributable to shareholders increased by 30.8% to CNY 19,381,190.12 compared to the same period last year[5] - The company's operating revenue for the current period is CNY 1,877,398,061.88, a decrease of 45.01% compared to CNY 3,413,846,296.87 in the same period last year, primarily due to the impact of the pandemic and the cessation of consolidation of Ningbo Haiyue[11] - The company's net profit for Q1 2020 was not explicitly stated, but the significant drop in revenue indicates potential challenges in profitability[21] - The net profit for Q1 2020 was ¥18,925,487.72, representing a significant increase of 148.5% from ¥7,606,548.00 in Q1 2019[22] - The total profit for Q1 2020 was ¥25,531,658.00, up from ¥15,072,262.01 in Q1 2019, indicating a growth of 69.5%[22] Cash Flow - Net cash flow from operating activities showed a significant decline of 193.33%, resulting in a negative cash flow of CNY -27,058,976.96[5] - The net cash flow from operating activities was CNY -27,058,976.96, a decline of 193.33% compared to CNY 28,993,234.78 in the previous year, mainly due to reduced cash inflow from sales[11] - The net cash flow from operating activities for Q1 2020 was -134,785,631.07 RMB, compared to -499,018.76 RMB in Q1 2019, indicating a significant improvement year-over-year[30] - Total cash inflow from operating activities was 748,665,485.46 RMB, down from 846,566,897.57 RMB in the previous year, reflecting a decrease of approximately 11.5%[30] - The net cash flow from investing activities was 7,331,800.00 RMB, significantly lower than 191,050,726.00 RMB in the same period last year[31] - The net cash flow from financing activities was 139,354,431.65 RMB, a substantial increase from 5,565,776.87 RMB in the previous year[31] Assets and Liabilities - Total assets increased by 1.59% to CNY 4,618,455,635.40 compared to the end of the previous year[5] - Total liabilities as of March 31, 2020, amounted to CNY 1,392,046,605.42, an increase from CNY 1,349,813,044.19 at the end of 2019[16] - Total assets as of March 31, 2020, were CNY 3,583,634,263.44, slightly down from CNY 3,596,656,000.65 at the end of 2019[19] - Total liabilities reached CNY 1,349,813,044.19, with current liabilities at CNY 1,119,956,890.28 and non-current liabilities at CNY 229,856,153.91[34] - The total current liabilities to total assets ratio is approximately 25.1%, indicating a moderate level of financial leverage[34] Shareholder Information - The total number of shareholders reached 24,228 by the end of the reporting period[8] - The largest shareholder, Zhejiang Haiyue Technology Co., Ltd., holds 19.06% of the shares, totaling 89,934,087 shares[9] - Shareholders' equity totaled CNY 3,196,364,137.90, with equity attributable to the parent company at CNY 3,032,126,323.39[35] Cost Management - Operating costs decreased by 42.70% to CNY 1,835,661,097.67 from CNY 3,203,701,726.23, also influenced by the pandemic[11] - Total operating costs for Q1 2020 were CNY 1,862,447,820.04, down from CNY 3,435,334,960.03 in Q1 2019, reflecting a cost reduction strategy[21] - The company reported a decrease in management expenses from ¥12,445,498.57 in Q1 2019 to ¥9,066,235.10 in Q1 2020, a reduction of approximately 27.5%[24] Research and Development - The company’s research and development expenses were reported as CNY 0, a 100% decrease compared to CNY 54,697,821.03 in the previous year, due to the cessation of consolidation of Ningbo Haiyue[11] - Research and development expenses were significantly reduced to CNY 0 in Q1 2020 from CNY 54,697,821.03 in Q1 2019, reflecting a shift in strategic focus[21] Government Support - The company reported a government subsidy income of CNY 1,687,200.59, which is included in non-operating income[7]