SPM(SH:600459)2020-04-28 16:00Financial Performance - Net profit attributable to shareholders increased by 318.37% to CNY 135,306,135.17 year-on-year[17] - Operating income rose by 2.34% to CNY 5,066,047,189.33 compared to the same period last year[17] - Basic earnings per share increased by 210.00% to CNY 0.31 compared to CNY 0.1 in the same period last year[17] - Weighted average return on equity increased by 2.57 percentage points to 4.12% year-on-year[17] - The net profit for the first quarter of 2020 was CNY 339,527,968.43, compared to CNY 272,144,129.61 in the same period last year, showing a growth of about 24.8%[52] - Net profit for Q1 2020 reached $141,095,209.10, compared to $37,290,921.44 in Q1 2019, indicating a significant increase of approximately 277.5%[59] - Operating profit for Q1 2020 was $170,384,957.90, up from $45,902,966.53 in Q1 2019, reflecting an increase of about 270.5%[57] - The total profit for Q1 2020 was $170,282,417.73, compared to $45,915,357.21 in Q1 2019, indicating an increase of about 270.5%[59] Cash Flow - Cash flow from operating activities turned positive with a net amount of CNY 437,313,161.42, a significant improvement from a negative cash flow of CNY -851,779,276.62 in the previous year[17] - The net cash flow from operating activities increased by 128.91 million CNY compared to the same period last year, primarily due to an increase in advance payments received[35] - The net cash flow from investing activities decreased by 16.25 million CNY compared to the same period last year, mainly due to payments for the customized contract of the precious metal group industrial park[35] - The net cash flow from financing activities decreased by 77.92% compared to the same period last year, primarily due to the impact of funds raised from a rights issue in the previous year[35] - Cash inflow from operating activities was ¥6,465,048,631.19, an increase from ¥4,826,949,015.94 year-over-year[67] - Net cash flow from financing activities was ¥179,571,279.63, down from ¥813,242,383.73 year-over-year[67] Assets and Liabilities - Total assets increased by 13.80% to CNY 8,575,400,950.33 compared to the end of the previous year[17] - Total liabilities increased to CNY 5,011,653,621.40 from CNY 4,115,654,178.16, representing a growth of approximately 21.8% year-over-year[1] - The company's total assets amounted to CNY 7,535,681,579.96, with total liabilities of CNY 4,115,654,178.16, resulting in total equity of CNY 3,420,027,401.80[77] - Total current liabilities increased to 3.56 billion CNY from 2.66 billion CNY year-on-year[45] - The company's total equity rose to CNY 3,563,747,328.93 from CNY 3,420,027,401.80, representing an increase of approximately 4.2%[52] Shareholder Information - The number of shareholders at the end of the reporting period was 47,351[23] - The largest shareholder, Yunnan Precious Metals New Materials Holding Group Co., Ltd., holds 39.64% of the shares[23] Revenue and Income - The company reported a significant increase in profits from automotive catalysts and precious metal recycling services[20] - Other income rose by 129.96% to CNY 13,623,073.24, primarily due to increased VAT refunds and support funds received[31] - Investment income grew by 101.94% to CNY 5,204,072.97, mainly due to increased profits from hedging activities[34] Expenses - R&D expenses decreased by 30.78% to CNY 19,241,082.88, primarily due to reduced testing costs for the National VI project[31] - Financial expenses increased by 33.71% to CNY 41,037,209.29, driven by higher interest expenses from increased short-term borrowings[31] - Tax and surcharges increased by 69.80% to CNY 8,984,021.05, mainly due to higher VAT payments[31] - Income tax expenses increased by 238.42% to CNY 29,187,208.63, reflecting higher taxable income from core business operations[34] Inventory and Receivables - The company's inventory as of March 31, 2020, was 3.23 billion CNY, slightly down from 3.27 billion CNY at the end of the previous year[42] - Accounts receivable surged to CNY 551,875,178.21 from CNY 340,878,252.57, reflecting a growth of around 62% year-over-year[51] - The company reported a decrease in accounts receivable by CNY 173,313,102.46, from CNY 1,051,597,454.82 to CNY 878,284,352.36[71] Other Financial Metrics - Cash and cash equivalents increased by 40.17% to CNY 1,441,796,956.78 compared to CNY 1,028,582,225.70 at the end of 2019[27] - Derivative financial assets surged by 1,925.36% to CNY 54,004,257.53, primarily due to increased floating profits from hedging instruments[27] - Prepayments rose by 165.80% to CNY 222,205,572.59, mainly due to increased procurement of raw materials[30]