JAC(SH:600418)2021-03-16 16:00Financial Performance - Operating revenue for the first quarter was CNY 7.61 billion, a decrease of 47.98% year-on-year[4] - Net profit attributable to shareholders was a loss of CNY 355.95 million, a decline of 650.70% compared to the same period last year[4] - Basic earnings per share were -CNY 0.19, a decrease of 733.33% compared to the previous year[4] - The weighted average return on equity was -2.79%, down 3.29 percentage points from the previous year[4] - Total operating revenue for Q1 2020 was approximately ¥7.63 billion, a decrease of 48.0% compared to ¥14.65 billion in Q1 2019[17] - Net profit for Q1 2020 was a loss of approximately ¥395 million, compared to a profit of ¥76.62 million in Q1 2019, representing a significant decline[18] - Operating profit for Q1 2020 was a loss of approximately ¥482 million, compared to a profit of ¥53.37 million in Q1 2019[17] - Basic earnings per share for Q1 2020 were -¥0.19, compared to ¥0.03 in Q1 2019, indicating a negative shift in profitability[18] - The total comprehensive income for Q1 2020 was a loss of approximately ¥397 million, compared to a gain of ¥71.89 million in Q1 2019[18] Cash Flow - Net cash flow from operating activities was negative CNY 1.91 billion, a decrease of 6,804.67% year-on-year[4] - Cash flow from operating activities decreased by 1.943 billion RMB year-on-year, as cash received from sales declined more than cash paid for purchases[10] - In Q1 2020, the company reported a net cash flow from operating activities of -1,914,557,615.72 RMB, a significant decrease compared to 28,555,592.60 RMB in Q1 2019[24] - The company experienced a cash outflow of 6,829,375,320.52 RMB from 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, contrasting with 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, compared to 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 CNY 45.30 billion, an increase of 3.29% compared to the end of the previous year[4] - Total current liabilities reached 26.824 billion RMB, up from 25.446 billion RMB at the end of the previous year[13] - Long-term borrowings increased to 3.421 billion RMB from 2.986 billion RMB year-on-year[13] - Total liabilities reached ¥31,983,656,587.52, an increase from ¥30,150,151,548.26, indicating a growth of approximately 6.1%[15] - Total current assets amounted to 21,807,956,892.02, remaining unchanged from the previous year[29] - The total liabilities amounted to 30,150,151,548.26, unchanged from the previous year[30] 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] Other Financial Metrics - The company reported non-recurring gains and losses totaling CNY 72.74 million for the period[6] - Investment income decreased by 46.81% year-on-year, primarily due to a reduction in net profits from joint ventures and associates[9] - The company reported a significant decrease in sales expenses by 67.06% year-on-year due to the implementation of new revenue standards[9] - Credit impairment losses increased by 88.49% year-on-year, mainly due to an increase in bad debt provisions[10] - The company reported a significant increase in credit impairment losses, with losses of approximately ¥84.80 million in Q1 2020 compared to ¥44.99 million in Q1 2019[17]