LK(SH:600388)2020-04-28 16:00Financial Performance - Operating revenue decreased by 7.40% to CNY 1,508,706,491.19 year-on-year[11] - Net profit attributable to shareholders decreased by 35.10% to CNY 67,830,038.49 compared to the same period last year[11] - Basic and diluted earnings per share decreased by 40.00% to CNY 0.06[11] - Total operating revenue for Q1 2020 was ¥1,508,706,491.19, a decrease of 7.4% compared to ¥1,629,266,795.42 in Q1 2019[36] - Net profit for Q1 2020 was ¥68,676,821.59, a decline of 35% from ¥105,578,119.81 in Q1 2019[39] - Earnings per share for Q1 2020 was ¥0.06, compared to ¥0.10 in Q1 2019[39] - The company reported a total comprehensive income of ¥74,988,786.94 for Q1 2020, compared to ¥105,459,407.59 in Q1 2019[39] - The company reported a decrease in sales expenses, which were ¥45,936,603.25 in Q1 2020, slightly up from ¥44,365,264.51 in Q1 2019[36] - The company reported a decrease in management expenses to ¥86,713,371.47 in Q1 2020 from ¥88,427,375.17 in Q1 2019[36] - Operating revenue for the first quarter was approximately $965.74 million, a decrease from $1.41 billion in the same period last year, representing a decline of about 31%[42] - Net profit for the first quarter was approximately $52.17 million, down from $93.96 million year-over-year, indicating a decrease of around 44%[42] - The total profit for the quarter was approximately $64.49 million, compared to $110.80 million in the previous year, reflecting a decline of about 42%[42] Cash Flow and Liquidity - Net cash flow from operating activities improved significantly, with a net cash flow of CNY -102,509,145.55, an increase of CNY 4.51 million compared to the previous year[11] - The net cash flow from operating activities improved to -¥102,509,145.55 from -¥553,148,983.24[21] - Cash flow from operating activities resulted in a net outflow of approximately $102.51 million, an improvement from a net outflow of $553.15 million in the same quarter last year[44] - Cash inflow from operating activities totaled 1,683,125,327.32 RMB, up from 1,269,700,307.16 RMB year-over-year[47] - Cash outflow from operating activities decreased to 1,796,542,072.31 RMB from 1,924,847,539.34 RMB in the previous year[47] - The net cash flow from investing activities was -112,670,663.96 RMB, compared to -23,536,558.46 RMB in the same quarter last year[47] - Cash inflow from financing activities was 2,807,296,950.00 RMB, significantly higher than 1,373,720,711.58 RMB in the previous year[47] - The net cash flow from financing activities increased to 2,071,106,964.07 RMB from 651,580,576.56 RMB year-over-year[47] - The total cash and cash equivalents at the end of the period reached 4,083,957,793.69 RMB, compared to 2,414,106,119.73 RMB at the end of the same quarter last year[47] Assets and Liabilities - Total assets increased by 14.40% to CNY 24,691,976,836.32 compared to the end of the previous year[11] - The total assets increased to ¥24,691,976,836.32 from ¥21,583,010,928.64[25] - Total liabilities increased to ¥18,789,530,989.33, up from ¥15,801,989,222.78, representing a growth of approximately 18.8% year-over-year[27] - Current assets rose to ¥16,260,549,907.54, compared to ¥12,554,262,734.93, marking an increase of about 29.5%[30] - Total liabilities decreased to CNY 15,801,989,222.78 from CNY 17,546,536,796.01, a decline of CNY 1,744,547,573.23[54] - Total assets amounted to approximately $18.46 billion, a decrease of $1.51 billion compared to the previous period[57] - Non-current liabilities totaled approximately $806.48 million, remaining stable compared to the previous period[57] - Current liabilities increased by approximately $1.64 billion, reaching a total of $12.92 billion[57] - The total liabilities increased by approximately $1.64 billion, totaling approximately $13.73 billion[57] Shareholder Information - The number of shareholders at the end of the reporting period was 93,474[15] - The largest shareholder, Longjing Industrial Group Co., Ltd., holds 18.09% of the shares[15] Government Support - The company received government subsidies amounting to CNY 21,358,069.04 related to its normal business operations[12] Research and Development - The company capitalized R&D expenses, which increased by 47.01% to ¥16,753,396.63 from ¥11,396,317.02[18] - Research and development expenses for Q1 2020 were ¥69,118,856.15, a decrease of 11.9% from ¥78,453,384.45 in Q1 2019[36] - Research and development expenses were approximately $29.65 million, compared to $33.02 million in the previous year, showing a decrease of about 10%[42]