JAC(SH:600418)2020-04-28 16:00Financial Performance - Operating revenue for the first quarter was ¥9.12 billion, a decrease of 37.68% year-on-year[4] - Net profit attributable to shareholders was a loss of ¥355.95 million, a decline of 650.70% compared to the same period last year[4] - Basic earnings per share were -¥0.19, down 733.33% from ¥0.03 in the previous year[4] - The weighted average return on equity was -2.79%, a decrease of 3.29 percentage points compared to the previous year[4] - Total operating revenue for Q1 2020 was ¥9,132,670,656.15, a decrease of 37.5% compared to ¥14,649,950,140.31 in Q1 2019[17] - Net profit for Q1 2020 was a loss of ¥395,029,195.96, compared to a profit of ¥76,620,700.03 in Q1 2019, representing a significant decline[18] - Operating profit for Q1 2020 was a loss of ¥482,296,681.37, compared to a profit of ¥53,372,025.47 in Q1 2019[17] - Total profit for Q1 2020 was a loss of ¥480,298,522.42, compared to a profit of ¥56,698,927.92 in Q1 2019[18] Cash Flow - Net cash flow from operating activities was negative at ¥1.91 billion, a significant decrease of 6,804.67% year-on-year[4] - In Q1 2020, the company reported a net cash flow from operating activities of -1,914,557,615.72 RMB, a significant decline compared to 28,555,592.60 RMB in Q1 2019[24] - Total cash inflow from operating activities was 4,914,817,704.80 RMB, down from 9,320,288,469.17 RMB in the same period last year[24] - The company experienced a cash outflow of 6,829,375,320.52 RMB in operating activities, compared to 9,291,732,876.57 RMB in Q1 2019[24] - Cash flow from investing activities showed a net inflow of 50,227,416.10 RMB, a recovery from a net outflow of -436,996,956.14 RMB in the previous year[24] - Cash flow from financing activities resulted in a net outflow of -57,849,574.21 RMB, contrasting with a net inflow of 73,373,390.18 RMB in Q1 2019[25] Assets and Liabilities - Total assets at the end of the reporting period reached ¥45.30 billion, an increase of 3.29% compared to the end of the previous year[4] - Total liabilities reached ¥31,983,656,587.52, up from ¥30,150,151,548.26, indicating a growth of approximately 6.1%[15] - The total equity attributable to shareholders decreased to ¥12,600,215,123.45 from ¥12,952,281,752.31, representing a decrease of approximately 2.7%[16] - The company's cash and cash equivalents decreased to ¥5,453,640,048.54 from ¥6,035,752,677.74, a decline of about 9.6%[15] - The total liabilities and equity amounted to ¥45,298,673,389.49, up from ¥43,854,515,954.50, reflecting an increase of approximately 3.3%[16] Shareholder Information - The total number of shareholders at the end of the reporting period was 82,806[7] - The largest shareholder, Anhui Jianghuai Automobile Group Holding Co., Ltd., held 25.23% of the shares[7] Operational Metrics - Accounts receivable increased by 56.36% compared to the beginning of the period, mainly due to an increase in customer payments[9] - Operating costs decreased by 33.85% year-on-year, also due to the decline in automobile sales[9] - Investment income decreased by 46.81% year-on-year, mainly due to a reduction in net profits from joint ventures and associates[9] - Total operating costs for Q1 2020 were ¥9,658,656,642.72, down 34.2% from ¥14,703,683,714.08 in Q1 2019[17] - Research and development expenses for Q1 2020 were ¥197,353,319.18, down from ¥220,085,685.90 in Q1 2019, a decrease of 10.3%[17] - Sales expenses for Q1 2020 were ¥224,715,211.22, a decrease of 67.0% from ¥682,221,992.49 in Q1 2019[17] Other Financial Metrics - The company reported non-recurring gains of ¥72.74 million during the quarter[6] - The company reported a significant increase in credit impairment losses, with a loss of ¥84,804,242.79 in Q1 2020 compared to -¥44,990,649.08 in Q1 2019[17] - Other comprehensive income after tax for Q1 2020 was -¥2,741,438.90, compared to -¥4,725,949.04 in Q1 2019[18]