LZCIC(SH:600423)2019-04-12 16:00Financial Performance - Operating revenue fell by 58.69% to CNY 216,114,258.07 year-on-year[4] - Net profit attributable to shareholders was a loss of CNY 107,982,449.49, a decrease of 1,434.61% compared to the same period last year[4] - Basic earnings per share dropped to -CNY 0.14, representing an 800.00% decline year-on-year[4] - The company reported a net loss of CNY 109,656,056.44 for Q1 2019, compared to a profit of CNY 8,046,556.99 in Q1 2018[24] - The total comprehensive income for Q1 2019 was a loss of ¥97,789,479.00, compared to a gain of ¥30,249,427.82 in Q1 2018, highlighting a substantial decline in overall financial performance[28] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 67,500,452.63, a decrease of 1,312.90% compared to the previous year[4] - The company's cash inflow from operating activities was ¥127,919,857.48 in Q1 2019, down from ¥280,620,415.34 in Q1 2018, reflecting a decrease of 54.4%[30] - The total cash inflow from operating activities was ¥114,693,556.95, a decrease of about 70% from ¥381,239,754.23 in Q1 2018[34] - The cash flow from financing activities resulted in a net outflow of ¥133,338,355.74, compared to a smaller outflow of ¥14,868,292.72 in the same period last year[32] - The company experienced a net decrease in cash and cash equivalents of ¥198,678,179.14 during the quarter, contrasting with an increase of ¥113,809,075.83 in Q1 2018[35] Assets and Liabilities - Total assets decreased by 9.93% to CNY 2,470,107,478.01 compared to the end of the previous year[4] - Total liabilities decreased to CNY 272,062,035.46 in Q1 2019 from CNY 426,615,295.44 in Q4 2018, a reduction of 36.3%[23] - The company's total equity was CNY 2,146,947,964.26 in Q1 2019, compared to CNY 2,247,811,311.73 in Q4 2018, reflecting a decrease of 4.5%[23] - The company's inventory decreased from approximately 255.6 million yuan to 227.4 million yuan compared to the previous year[17] - Accounts receivable increased to CNY 405,565,796.99 in Q1 2019 from CNY 374,146,224.65 in Q4 2018, indicating a rise of 8.5%[22] Expenses - The company experienced a 69.73% decrease in selling expenses due to a significant reduction in product sales volume[9] - Management expenses increased by 59.57% primarily due to increased losses from the shutdown of the urea system[10] - Financial expenses decreased by 101.35% as a result of reduced liabilities following debt restructuring[10] - The company reported research and development expenses of CNY 1,189,702.83 for Q1 2019, slightly up from CNY 1,176,367.07 in Q1 2018[24] - The company's sales expenses for Q1 2019 were ¥7,060,684.80, down from ¥23,106,315.96 in Q1 2018, indicating a reduction in sales-related costs[27] Restructuring and Risks - The company is currently in the execution phase of the restructuring plan, facing risks of bankruptcy if the restructuring fails, which could lead to stock delisting[12] - The company provided guarantees for loans to Hunan Zhongcheng totaling approximately 212 million yuan, with related debts confirmed by the court at approximately 218 million yuan[13] - Cash and cash equivalents at the beginning and end of the period increased by 250.81% and 150.04% respectively compared to the same period last year, mainly due to cash received from restructuring investors[11]