Keda Group(SH:600499)2020-04-29 16:00Financial Performance - Operating revenue for the period was CNY 127,323.93 million, down 26.50% year-on-year [4]. - Net profit attributable to shareholders was CNY 3,041.94 million, a decline of 74.09% compared to the same period last year [4]. - The basic earnings per share decreased by 73.68% to CNY 0.020 per share [4]. - The company reported a significant increase in contract assets to CNY 31,776.16 million, attributed to the adjustment of receivables under new revenue recognition standards [10]. - Investment income decreased by 155.85% year-on-year, primarily due to a decline in investment income from Lanke Lithium Industry [12]. - Non-operating income increased by 165.41% year-on-year, mainly due to an increase in quality penalties from suppliers [12]. - The total profit for Q1 2020 was CNY 71,378,427.11, a decline of 56.4% compared to CNY 163,920,100.89 in Q1 2019 [27]. - The total comprehensive income for Q1 2020 was CNY 61,746,553.46, down from CNY 145,874,449.55 in Q1 2019, a decrease of 57.6% [27]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY -5,776.99 million, representing a decrease of 152.60% year-on-year [4]. - The cash flow from operating activities in Q1 2020 was CNY 1,193,532,597.13, down from CNY 1,383,656,553.73 in Q1 2019, indicating a decline of 13.8% [30]. - The net cash flow from operating activities was -57,769,853.71 RMB, compared to 109,830,522.31 RMB in the previous year, indicating a significant decline in operational performance [31]. - The ending balance of cash and cash equivalents was 839,060,407.81 RMB, a decrease from 1,276,284,849.27 RMB in the previous year [32]. - Cash received from other investment-related activities decreased by 73.75% year-on-year, primarily due to higher cash received from redeeming financial products in the same period last year [14]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,270,421.48 million, a decrease of 1.37% compared to the end of the previous year [4]. - Total liabilities decreased to CNY 3,682,740,395.49 from CNY 3,761,497,619.60, indicating a reduction of 2.1% [24]. - Total assets amounted to CNY 12,881,269,647.81, with current assets at CNY 6,901,655,164.69 and non-current assets at CNY 5,979,614,483.12 [36]. - Total liabilities reached CNY 7,623,401,177.50, with current liabilities at CNY 6,497,958,259.06 and non-current liabilities at CNY 1,125,442,918.44 [37]. - The company has short-term borrowings of CNY 2,181,961,399.17, reflecting its financing strategy [37]. Shareholder Information - The number of shareholders at the end of the reporting period was 40,395, with the top ten shareholders holding a total of 573,000,000 shares, accounting for 36.56% of total shares [7]. - Shareholders' equity totaled CNY 5,257,868,470.31, with equity attributable to the parent company at CNY 4,650,736,860.28 [38]. Expenses and Costs - Employee compensation payable decreased by 69.99% compared to the end of the previous year, primarily due to the distribution of the year-end bonus from the previous year [11]. - Tax and additional expenses decreased by 43.52% year-on-year, mainly due to higher urban maintenance and construction tax and education fees in the same period last year [12]. - The company's financial expenses increased to CNY 47,537,494.84 in Q1 2020 from CNY 36,965,619.60 in Q1 2019, representing a rise of 28.5% [27]. - The company's sales expenses for Q1 2020 were CNY 34,439,759.20, down from CNY 40,296,184.95 in Q1 2019, a reduction of 14.5% [28]. Future Outlook - The company plans to focus on market expansion and new product development in the upcoming quarters [21].