CORUN(SH:600478)2020-04-29 16:00Financial Performance - Net profit attributable to shareholders of the listed company was CNY -39,167,121.47, showing an improvement from CNY -45,346,312.91 in the same period last year[18] - Operating revenue for the period was CNY 299,184,892.60, a decline of 14.42% year-on-year[18] - The basic earnings per share were CNY -0.024, an improvement from CNY -0.031 in the same period last year[18] - The company experienced a loss of CNY -11,049,294.00 due to the impact of the pandemic in the first quarter[22] - Net loss for Q1 2020 was CNY 47,560,975.24, compared to a net loss of CNY 76,127,526.31 in Q1 2019, representing an improvement of 37.5%[53] - The total comprehensive loss for Q1 2020 was CNY 43,303,691.96, compared to CNY 79,094,373.77 in Q1 2019, indicating a reduction of 45.3%[53] Cash Flow - Net cash flow from operating activities increased significantly to CNY 157,103,590.35, up 983.25% compared to CNY 14,503,045.86 in the previous year[18] - Cash flow from operating activities for Q1 2020 was CNY 157,103,590.35, significantly improved from CNY 14,503,045.86 in Q1 2019[63] - Total cash outflow from operating activities in Q1 2020 was CNY 379,531,925.89, compared to CNY 422,948,151.71 in Q1 2019, showing a reduction of approximately 10.3%[63] - The net cash flow from operating activities for Q1 2020 was -11,926,541.81 RMB, an improvement from -14,646,481.06 RMB in Q1 2019[65] - Cash and cash equivalents at the end of Q1 2020 totaled CNY 472,426,823.28, down from CNY 921,149,047.33 at the end of Q1 2019, a decrease of approximately 48.7%[63] Assets and Liabilities - Total assets at the end of the reporting period were CNY 6,243,004,481.43, a decrease of 2.63% compared to the end of the previous year[18] - The company’s total liabilities decreased by 2.28% to ¥977,016,669.63 from ¥999,860,967.51, primarily due to repayments of due financing leases[30] - Total liabilities decreased from ¥3,394,765,521.93 to ¥3,269,740,314.28, a decline of about 3.68%[41] - Total current assets as of March 31, 2020, were ¥1,503,733,647.58, down from ¥1,909,414,288.45 as of December 31, 2019[36] - The total assets as of Q1 2020 were 6,411,333,381.04 RMB, remaining stable compared to the previous year[69] Shareholder Information - The total number of shareholders at the end of the reporting period was 55,556[25] - The largest shareholder, Hunan Keli Yuan High-tech Group Co., Ltd., held 14.36% of the shares, amounting to 237,329,700 shares[25] Government Subsidies and Other Income - The company reported a government subsidy recognized in the current period amounting to CNY 15,602,745.23[21] - The company reported other income of ¥15,670,217.19 in Q1 2020, a significant increase of 186.45% compared to ¥5,470,579.21 in Q1 2019, mainly due to government subsidies[30] Investment and Equity - Long-term equity investments increased by 56.70% to ¥662,332,731.40 from ¥422,678,659.69, primarily due to additional investments in associated companies[30] - Total equity reached approximately $3.02 billion, with total assets amounting to around $6.41 billion[72] - The company reported a negative retained earnings of approximately -$516.45 million, indicating accumulated losses[72] Operating Costs and Expenses - Operating costs decreased by 15.41% to ¥265,394,338.59 from ¥313,750,056.78, reflecting the reduction in revenue[30] - Research and development expenses increased to CNY 13,341,157.91 in Q1 2020, up 130.0% from CNY 5,785,965.06 in Q1 2019[51] - The company’s management expenses for Q1 2020 were CNY 3,940,134.62, down from CNY 8,759,956.75 in Q1 2019, reflecting a decrease of about 55.1%[58] Financial Position - The company reported a financial expense of CNY 15,121,954.96 in Q1 2020, up from CNY 12,610,149.30 in Q1 2019, indicating an increase of approximately 19.9%[58] - Long-term borrowings slightly decreased from ¥362,475,423.07 to ¥361,146,664.00, a reduction of about 0.37%[41] - The company executed the new revenue recognition standards starting January 1, 2020, impacting financial reporting[75]