FiberHome(SH:600498)2020-04-29 16:00Financial Performance - Net profit attributable to shareholders was -¥190.24 million, a decrease of 214.12% year-on-year[4] - Operating revenue for the period was ¥2.91 billion, down 40.38% from ¥4.88 billion in the same period last year[4] - Basic and diluted earnings per share were both -¥0.16, a decrease of 214.29% year-on-year[4] - The company expects a significant decline in net profit compared to the same period last year due to the impact of the COVID-19 pandemic, which has affected revenue and increased fixed costs[12] - The net profit for Q1 2020 was CNY 50,204,367.48, down from CNY 218,505,977.50 in Q1 2019, representing a decline of 77.1%[25] - The total comprehensive income for Q1 2020 was CNY 50,204,367.48, significantly lower than CNY 218,505,977.50 in Q1 2019[25] Cash Flow - Net cash flow from operating activities was -¥3.52 billion, representing a decline of 106.93% compared to -¥1.70 billion in the previous year[4] - Cash inflow from operating activities in Q1 2020 was CNY 3,171,371,258.76, down 32.7% from CNY 4,718,382,746.76 in Q1 2019[26] - The net cash flow from operating activities for Q1 2020 was CNY -3,523,890,617.98, worsening from CNY -1,702,921,942.73 in Q1 2019[26] - The company reported a significant increase in research and development expenses to RMB 467,718,247.38 in Q1 2020, down from RMB 580,170,881.06 in Q1 2019, a decrease of 19.4%[22] - The company raised 2,531,063,000.00 RMB through borrowings in Q1 2020, compared to 1,506,049,172.75 RMB in Q1 2019, marking a 68% increase in financing activities[29] - The net cash flow from financing activities was 2,211,495,994.71 RMB in Q1 2020, up from 1,692,528,561.29 RMB in Q1 2019, representing a growth of approximately 30.7%[29] Assets and Liabilities - Total assets at the end of the reporting period reached ¥32.62 billion, an increase of 3.58% compared to the end of the previous year[4] - Total liabilities reached RMB 17,873,869,473.24 in Q1 2020, up from RMB 16,628,669,339.19 in Q4 2019, reflecting an increase of 7.5%[20] - The company’s total assets were reported at approximately ¥31.49 billion, with current assets totaling ¥16.19 billion and non-current assets at ¥9.24 billion[34] - Total liabilities amounted to approximately ¥19.44 billion, with current liabilities at ¥16.62 billion and non-current liabilities at ¥2.82 billion[32] - The total equity attributable to shareholders reached approximately ¥11.47 billion, contributing to total equity of ¥12.06 billion[33] Shareholder Information - The total number of shareholders at the end of the reporting period was 120,252[7] - The largest shareholder, Fenghuo Technology Group Co., Ltd., held 42.20% of the shares[7] Inventory and Receivables - Accounts receivable increased to ¥8,826.14 million from ¥7,493.63 million, suggesting a potential issue with collections[14] - Inventory levels rose to ¥10,280.05 million from ¥8,938.82 million, indicating a buildup of stock possibly due to reduced sales[14] - Accounts receivable increased to RMB 7,374,085,266.50 in Q1 2020 from RMB 6,659,405,720.63 in Q4 2019, representing an increase of 10.7%[19] - Inventory rose to RMB 5,737,946,597.40 in Q1 2020, up from RMB 4,700,576,547.95 in Q4 2019, indicating a growth of 22.0%[19] Government Support and Expenses - The company received government subsidies amounting to ¥5.81 million, which are closely related to its normal business operations[5] - The company reported a non-operating loss of ¥738,170.37, primarily due to various non-recurring items[6] - R&D expenses decreased by 19.38% to ¥46,771.82 million from ¥58,017.09 million, mainly due to reduced investment caused by the pandemic[11] Financial Adjustments and Standards - The company implemented new revenue recognition standards starting January 1, 2020, affecting financial statement adjustments[37] - The company did not adjust prior period comparative data under the new revenue and leasing standards[37]