SINOPHARM(CNCM LTD)(SH:600511)2020-04-23 16:00Financial Performance - Operating revenue for the first quarter was CNY 8.21 billion, a decrease of 18.30% year-on-year[5] - Net profit attributable to shareholders was CNY 231.97 million, down 19.02% from the same period last year[5] - The company reported a decrease of 32.10% in net profit after deducting non-recurring gains and losses, totaling CNY 193.68 million[5] - Total operating revenue for Q1 2020 was ¥8,209,804,658.59, a decrease of 18.3% compared to ¥10,048,891,243.77 in Q1 2019[23] - Net profit for Q1 2020 was ¥250,567,658.38, a decline of 22.7% from ¥324,052,200.08 in Q1 2019[24] - The net profit attributable to the parent company was CNY 241,061,934.48, down 17.3% from CNY 291,174,641.97 in the same period last year[25] - The total comprehensive income for Q1 2020 was CNY 169,697,013.90, slightly down from CNY 171,916,875.74 in Q1 2019[26] Assets and Liabilities - Total assets decreased by 2.01% to CNY 23.71 billion compared to the end of the previous year[5] - Total assets decreased from CNY 24,193,651,172.80 to CNY 23,706,860,205.95, a decline of approximately 2.0%[17] - Total liabilities decreased from CNY 12,034,888,501.32 to CNY 11,288,440,479.25, a reduction of about 6.2%[17] - Total assets decreased to ¥14,869,200,707.77 in Q1 2020 from ¥16,012,145,984.90 in Q1 2019, reflecting a reduction of 7.1%[20] - Total liabilities decreased to ¥5,588,233,691.57 in Q1 2020 from ¥6,900,875,982.60 in Q1 2019, a decline of 19%[20] Cash Flow - Cash flow from operating activities was negative at CNY -1.15 billion, compared to CNY -849.20 million in the previous year[5] - The net cash flow from operating activities was negative at CNY -1,147,897,586.80, worsening from CNY -849,202,468.45, primarily due to delayed payments from downstream customers caused by the pandemic[16] - Cash flow from operating activities showed a net outflow of CNY 1,147,897,586.80, compared to a net outflow of CNY 849,202,468.45 in Q1 2019[29] - The total cash outflow from operating activities was CNY 11,359,040,250.46, a decrease from CNY 12,027,665,845.67 in Q1 2019[28] Shareholder Information - The number of shareholders reached 29,815, with the largest shareholder holding 54.72% of the shares[9] Research and Development - Research and development expenses increased by 89.16%, rising from CNY 5,781,563.14 to CNY 10,936,160.29, attributed to enhanced investment in product process upgrades[16] - The company's R&D expenses increased to ¥10,936,160.29 in Q1 2020, up 89% from ¥5,781,563.14 in Q1 2019[23] Borrowings and Other Assets - Short-term borrowings rose by 191.33% to CNY 1.02 billion due to new short-term loans[11] - Other current assets increased by 301.30% to CNY 70.16 million due to an increase in deductible VAT input tax[11] Equity and Earnings - The weighted average return on equity decreased by 0.87 percentage points to 2.18%[5] - The company's total equity increased from CNY 12,158,762,671.48 to CNY 12,418,419,726.70, reflecting a growth of approximately 2.1%[17] - Basic and diluted earnings per share were both CNY 0.3075, compared to CNY 0.3747 in Q1 2019, reflecting a decline of 18.0%[25] Tax and Compensation - Tax payable decreased significantly by 81.53%, from CNY 222,334,255.43 to CNY 41,072,661.16, due to a reduction in current tax liabilities[16] - The company reported a significant decrease in payable employee compensation, dropping from CNY 182,909,133.30 to CNY 97,626,920.06, a decline of 46.63%[16]