航发科技(600391) - 2019 Q1 - 季度财报

Financial Performance - Total revenue for Q1 2019 was CNY 484,890,733.83, an increase of 26.11% compared to the same period last year[6] - Net profit attributable to shareholders was a loss of CNY 23,244,937.14, a decrease of 99.36% year-on-year[12] - Operating profit for Q1 2019 was -CNY 18,611,433.18, worsening from -CNY 9,660,362.98 in Q1 2018[25] - Net loss for Q1 2019 was CNY 19,557,733.43, compared to a net loss of CNY 9,860,323.44 in Q1 2018, representing a 98.3% increase in losses[26] - The company reported a net loss of ¥31,391,186.58 for the period, compared to a loss of ¥8,146,249.44 in the previous period[20] Cash Flow - Operating cash flow for the period was CNY 11,166,504.16, a decrease of 65.57% compared to the previous year[13] - Cash flow from operating activities for Q1 2019 was RMB 11.17 million, down from RMB 32.43 million in Q1 2018[31] - Net cash flow from operating activities decreased significantly to $10.86 million from $82.24 million in the previous year, a decline of 86.8%[33] - The company reported a decrease in cash flow due to foreign exchange fluctuations, impacting cash and cash equivalents by -$2.50 million[33] Research and Development - Research and development expenses increased by 59.71% to CNY 22,899,882.84, reflecting higher investment in R&D[12] - Research and development expenses increased to CNY 22,899,882.84 in Q1 2019, up 60.1% from CNY 14,338,405.69 in Q1 2018[25] - Research and development expenses increased to RMB 14.15 million in Q1 2019, up from RMB 8.68 million in Q1 2018, reflecting a 63% increase[28] Assets and Liabilities - Total assets at the end of the reporting period were CNY 5,944,246,959.27, up 1.12% from the end of the previous year[6] - Total liabilities reached ¥4,178,550,622.61, compared to ¥4,096,338,228.53, marking an increase of about 2.00%[20] - Current liabilities totaled ¥2,905,705,445.17, an increase from ¥2,826,514,448.91, representing a growth of approximately 2.80%[20] - Total liabilities as of Q1 2019 were CNY 3,428,962,082.48, compared to CNY 3,373,017,014.71 in the previous year, reflecting a 1.7% increase[24] Equity - The weighted average return on equity was -1.63%, compared to -0.65% in the previous year[6] - The total equity attributable to shareholders was ¥1,414,836,006.21, a slight decrease from ¥1,435,405,799.37[20] - Total equity decreased to CNY 1,403,961,092.25 in Q1 2019 from CNY 1,429,108,248.60 in Q1 2018, a decline of 1.7%[24] Other Income - The company reported a significant increase in other income, which rose by 336.75% to CNY 15,782,394.19 due to increased government subsidies[12] - Other income for Q1 2019 was CNY 15,782,394.19, significantly higher than CNY 3,613,620.48 in Q1 2018, marking an increase of 336.5%[25] Market Outlook - The company expects continued decline in the foreign trade gas turbine market, impacting main business revenue in the short term[14] - The company anticipates challenges in reversing the current loss situation in Q2 2019 due to product structure adjustments and management reforms not yet showing results[14] Shareholder Information - The number of shareholders at the end of the reporting period was 49,573[10] Financial Standards - The company adopted new financial instrument standards starting January 1, 2019, affecting the impairment provision for receivables[34] - The company did not have any retrospective adjustments for prior period comparative data under the new financial instrument standards[35]