AECC AST(SH:600391)2020-04-28 16:00Financial Performance - Operating revenue for the first quarter was CNY 455,544,050.34, a decrease of 6.05% year-on-year[7] - Net profit attributable to shareholders was CNY -33,184,442.86, a decrease of 42.76% compared to the same period last year[12] - Net cash flow from operating activities was CNY 3,586,429.76, a decrease of 67.88% year-on-year[7] - The company's net loss attributable to shareholders was CNY -18,302,407.75, compared to a profit of CNY 14,882,035.11 in the previous year[20] - The total comprehensive loss for Q1 2020 was CNY 39.43 million, compared to a loss of CNY 27.44 million in Q1 2019[30] - Net loss for Q1 2020 was ¥28,788,981.38, compared to a net loss of ¥19,557,733.43 in Q1 2019, representing an increase in loss of 46.9%[27] - The company’s operating profit for Q1 2020 was -¥27,592,303.05, compared to -¥18,611,433.18 in Q1 2019, indicating a worsening operational performance[26] Assets and Liabilities - Total assets decreased by 1.92% to CNY 5,307,780,493.82 compared to the end of the previous year[7] - The company's total assets decreased from ¥4,235,812,572.39 in the previous quarter to ¥4,126,589,441.92 in Q1 2020[24] - The company reported a decrease in total equity to CNY 1,902,490,959.14 from CNY 1,926,522,876.41[20] - Total liabilities decreased from ¥2,805,153,711.27 in the previous quarter to ¥2,731,230,658.07 in Q1 2020[24] - Current liabilities totaled CNY 2,995,068,216.48, down from CNY 3,077,126,047.07, a decrease of approximately 2.7%[20] - Total current assets amounted to approximately CNY 2.87 billion as of Q1 2020[42] - Total liabilities were reported at approximately CNY 2.81 billion, with current liabilities accounting for CNY 2.60 billion[43] Cash Flow - The company reported a net cash outflow from investment activities of CNY -16,125,841.59, a decrease of 38.08% year-on-year[13] - Cash and cash equivalents at the end of Q1 2020 were CNY 186.11 million, a decrease from CNY 220.82 million at the beginning of the quarter[33] - The company’s net cash flow decreased by ¥13,606,746.61 in Q1 2020, compared to a decrease of ¥27,678,220.80 in Q1 2019[35] - The company received CNY 202.94 million in borrowings during Q1 2020, an increase from CNY 137.62 million in Q1 2019[33] - Total cash outflow from financing activities was CNY 264.87 million, compared to CNY 199.87 million in Q1 2019, reflecting increased financing needs[33] Operational Challenges - The company expects a potential cumulative net profit loss for the year due to the impact of COVID-19 on the aviation industry, with delays and cancellations of orders[14] - The company has faced delays in production and R&D activities due to the pandemic, which may continue to affect operations[14] - The company is monitoring the situation closely and is unable to predict when the impact of COVID-19 will be fully resolved[14] Shareholder Information - The number of shareholders at the end of the reporting period was 49,669[10] - The company's equity attributable to shareholders was ¥1,464,366,105.82, remaining stable compared to the previous year[39] Revenue Recognition and Expenses - The company has implemented new revenue recognition standards, which are not expected to significantly impact revenue recognition methods or financial results[44] - Research and development expenses for Q1 2020 were ¥18,957,848.05, down 17.5% from ¥22,899,882.84 in Q1 2019[26] - R&D expenses decreased significantly to CNY 3.78 million, down 73.24% from CNY 14.15 million in Q1 2019[29]