Fynex Textile(SH:600493)2020-04-29 16:00Financial Performance - Operating revenue for the reporting period was CNY 193,117,038.67, representing a decline of 24.70% year-on-year [5]. - Net profit attributable to shareholders was CNY 1,559,505.16, down 77.40% from the previous year [5]. - Basic earnings per share decreased by 77.56% to CNY 0.0057 compared to CNY 0.0254 in the previous year [5]. - The company reported a loss of CNY 27,546.48 from the disposal of fixed assets during the reporting period [6]. - Total operating revenue for Q1 2020 was CNY 193.12 million, a decrease of 24.7% compared to CNY 256.45 million in Q1 2019 [28]. - Net profit for Q1 2020 was CNY 1.56 million, a decline of 77.4% from CNY 6.90 million in Q1 2019 [30]. - The total profit for Q1 2020 was CNY 1.84 million, down 75.6% from CNY 7.54 million in Q1 2019 [30]. Cash Flow - The net cash flow from operating activities was CNY 326,569.40, a significant improvement from a negative cash flow of CNY 152,298.32 in the same period last year [5]. - Cash flow from financing activities decreased by 86.55% to 760.16 million, mainly due to a reduction in financing amounts compared to the previous year [13]. - In Q1 2020, the net cash flow from operating activities was ¥45,904,479.11, a decrease of 42.3% compared to ¥79,302,114.80 in Q1 2019 [36]. - The total cash inflow from investment activities was ¥8,435,426.60, while cash outflow was ¥106,281,591.63, resulting in a net cash flow from investment activities of -¥97,846,165.03 [36]. - The cash flow from financing activities generated a net inflow of ¥17,998,269.32, down from ¥32,801,974.33 in the previous year [36]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,682,680,280.06, a decrease of 0.34% compared to the end of the previous year [5]. - Cash and cash equivalents decreased by 33.49% to 20,077.47 million compared to the previous year, primarily due to a reduction in acceptance guarantee deposits [12]. - Accounts receivable increased to CNY 114,820,022.38 from CNY 94,340,276.27, reflecting a growth of about 21.8% year-over-year [21]. - Inventory levels rose to CNY 258,896,455.72 compared to CNY 237,724,280.64, marking an increase of approximately 8.9% [21]. - Total liabilities amounted to CNY 983,247,603.07, up from CNY 868,634,064.30, indicating an increase of around 13.2% [26]. - Current liabilities rose to CNY 600,266,870.90 from CNY 503,691,593.49, marking an increase of about 18.2% [26]. Shareholder Information - The total number of shareholders at the end of the reporting period was 24,817 [9]. - The top three shareholders held a combined 29.96% of the shares, with the largest shareholder holding 10.72% [9]. Investments and Projects - The company is progressing with the construction of the new factory project in An Dong, with completion expected by September 30, 2020, subject to uncertainties due to the COVID-19 pandemic [15]. - The total investment for the new factory project is approximately 850 million, increased from the original estimate of 650 million [14]. - The company is collaborating with CITIC Environment to establish a joint venture for the investment and construction of the dyeing demonstration park in Anyang [16]. - The company has completed land reserve matters for the Anyang project, with relevant cooperation progressing smoothly [17]. Government Support - The company received government subsidies amounting to CNY 331,400.00 during the reporting period [6]. Research and Development - Research and development expenses increased to CNY 4.30 million in Q1 2020, up 28.6% from CNY 3.34 million in Q1 2019 [28].