LYCG(SH:600491)2020-04-28 16:00Financial Performance - Operating revenue for the period was CNY 4.72 billion, representing a decline of 19.27% year-on-year[6]. - Net profit attributable to shareholders was CNY 184.48 million, down 29.55% from the same period last year[6]. - The company's net profit guidance for the year is not expected to show significant changes compared to the previous year[14]. - Total revenue for Q1 2020 was CNY 4,720,294,164.25, a decrease of 19.2% compared to CNY 5,847,008,742.55 in Q1 2019[25]. - The net profit for Q1 2020 was CNY 179,945,441.24, down 31.8% from CNY 264,195,879.02 in Q1 2019[26]. - The total profit for Q1 2020 was CNY 272,026,486.46, a decline of 27.3% from CNY 374,178,595.65 in Q1 2019[26]. - The company's operating revenue for Q1 2020 was CNY 3,916,202,207.49, a decrease of 25.6% compared to CNY 5,264,925,271.29 in Q1 2019[27]. - Operating profit for Q1 2020 was CNY 277,317,426.03, a decline of 26.1% compared to CNY 375,098,832.21 in Q1 2019[25]. - The company's operating profit for Q1 2020 was CNY 302,788,714.85, down 20% from CNY 378,031,749.85 in Q1 2019[27]. Assets and Liabilities - Total assets at the end of the reporting period were approximately CNY 59.10 billion, a decrease of 0.58% compared to the end of the previous year[6]. - Total assets as of March 31, 2020, were RMB 59.098 billion, down from RMB 59.445 billion at the end of 2019[19]. - Total liabilities decreased to RMB 47.166 billion from RMB 47.723 billion year-over-year[19]. - Total liabilities reached ¥47,722,741,097.89, with current liabilities at ¥34,687,144,091.15 and non-current liabilities at ¥13,035,597,006.74[37]. - Total assets amounted to ¥59,445,281,114.25, with current assets at ¥31,325,129,164.81 and non-current assets at ¥28,120,151,949.44[36]. - Total liabilities reached approximately $31.34 billion, with current liabilities accounting for about $31.05 billion[40]. Shareholder Information - The number of shareholders at the end of the reporting period was 40,131[9]. - The largest shareholder, Lai Zhenyuan, holds 27.06% of the shares, with 413.90 million shares pledged[9]. - Shareholders' equity increased to CNY 11,081,126,994.38 from CNY 10,867,203,411.53 in the previous year[23]. - Shareholders' equity totaled ¥11,722,540,016.36, with equity attributable to the parent company at ¥10,630,784,722.45[37]. - The total equity attributable to shareholders was approximately $10.87 billion, showcasing a solid equity base[41]. Cash Flow - The net cash flow from operating activities was negative CNY 151.09 million, an improvement from negative CNY 642.77 million in the previous year[6]. - Cash inflows from operating activities in Q1 2020 totaled CNY 5,048,385,609.46, a decrease of 25.7% from CNY 6,786,420,310.29 in Q1 2019[30]. - The net cash flow from operating activities for Q1 2020 was -192,442,332.55 RMB, compared to -344,810,352.47 RMB in Q1 2019, showing an improvement of approximately 44.2%[32]. - The total cash outflow from operating activities in Q1 2020 was 8,673,921,805.45 RMB, compared to 11,376,615,162.64 RMB in Q1 2019, reflecting a decrease of approximately 23.5%[32]. - The company reported a total cash inflow from operating activities of 8,481,479,472.90 RMB in Q1 2020, down from 11,031,804,810.17 RMB in Q1 2019, a decline of about 23.1%[32]. Expenses - Financial expenses increased by CNY 26.63 million, an increase of 81.23%, primarily due to increased borrowing[12]. - Financial expenses increased to CNY 59,411,436.73, compared to CNY 32,782,006.20 in the same period last year[25]. - Research and development expenses rose to CNY 16,074,309.54, an increase from CNY 11,313,467.28 in Q1 2019[25]. - The company's research and development expenses for Q1 2020 were CNY 6,832,662.43, slightly down from CNY 7,106,528.23 in Q1 2019[27]. Accounts Receivable and Inventory - Accounts receivable decreased by CNY 628.29 million, a reduction of 61.63%, due to the implementation of new standards and improved collection management[12]. - Accounts receivable decreased to RMB 3.912 billion from RMB 10.195 billion year-over-year[17]. - Inventory increased to RMB 14.090 billion from RMB 13.665 billion year-over-year[17]. - Inventory levels were maintained at ¥16,025,095,011.15, indicating stable stock management[39]. Other Financial Information - The company has not resolved any significant ongoing litigation or arbitration matters as of the reporting date[12]. - The company has made accounting policy changes that will not significantly impact its financial condition or results[13]. - The company reported a credit impairment loss of CNY 30,283,971.23 in Q1 2020, indicating potential challenges in asset quality[27]. - The company has a capital reserve of approximately $4.04 billion, reflecting strong financial backing[41]. - The company has a special reserve of approximately $353 million, which may be earmarked for specific future projects[41].