CS&S(SH:600536)2020-04-29 16:00Financial Performance - Net profit attributable to shareholders decreased by 40.21% to CNY 602,116,408.10 compared to the same period last year[4] - The company reported a net loss of CNY -161,465,373.03 for the quarter[4] - The net profit for Q1 2020 was a loss of RMB 199,063,979.53, compared to a loss of RMB 126,953,000.73 in the previous year, reflecting a significant increase in losses[13] - The company reported a gross profit margin of -34.7% in Q1 2020, compared to -13.0% in Q1 2019[26] - Basic and diluted earnings per share for Q1 2020 were both -¥0.33, compared to -¥0.21 in Q1 2019[27] - The total comprehensive loss for Q1 2020 was ¥199,063,979.53, compared to a total comprehensive loss of ¥124,709,295.42 in Q1 2019[27] - Net loss for Q1 2020 was ¥199,063,979.53, compared to a net loss of ¥126,953,000.73 in Q1 2019[27] Cash Flow - Net cash flow from operating activities was negative at CNY -994,650,364.52, indicating a significant decline in cash generation[4] - The cash flow from operating activities showed a net outflow of RMB 994,650,364.52, worsening from a net outflow of RMB 455,467,104.86 in the previous year[15] - Cash inflow from operating activities totaled $363.12 million, a decrease of 2.3% compared to $370.68 million in Q1 2019[35] - Cash outflow from operating activities increased to $828.62 million, up 16.2% from $713.18 million in Q1 2019[35] - Net cash flow from operating activities was -$465.50 million, worsening from -$342.49 million in Q1 2019[35] Assets and Liabilities - Total assets decreased by 13.23% to CNY 5,851,824,557.10 compared to the end of the previous year[4] - Cash and cash equivalents decreased by 40.25% to CNY 1,529,252,921.24 compared to the end of the previous year[10] - Accounts receivable decreased by 39.28% to CNY 815,667,344.11 compared to the end of the previous year[10] - The company's current assets totaled CNY 4,604,077,844.55, down from CNY 5,473,237,735.68 at the end of 2019, indicating a decrease of about 15.9%[19] - Total liabilities decreased to CNY 3,358,422,885.09 from CNY 3,981,949,596.39, a decline of about 15.6%[21] - The company's equity attributable to shareholders was CNY 2,064,345,685.72, down from CNY 2,272,815,204.51, indicating a decrease of approximately 9.2%[21] - The total assets of the company were approximately ¥6.74 billion, showing a decline of ¥79.04 million compared to the previous total[39] Operational Metrics - The company's operating revenue for Q1 2020 was RMB 602,116,408.10, a decrease of 40.21% compared to RMB 1,007,082,826.38 in the same period last year[13] - Total operating revenue for Q1 2020 was ¥602,116,408.10, a decrease of 40.1% compared to ¥1,007,082,826.38 in Q1 2019[26] - Total operating costs for Q1 2020 were ¥811,512,334.87, down 27.9% from ¥1,125,936,490.35 in Q1 2019[26] - The company reported a decrease in cash inflow from sales of goods and services, totaling ¥576,438,632.07, down from ¥855,838,668.07 in Q1 2019[32] Strategic Developments - The company plans to acquire 51% of the equity of its subsidiary Zhongsoft Giant for a total price of RMB 3,519,100, indicating ongoing strategic investments[17] - The company is undergoing a capital increase for its subsidiary Qilin Software, with an additional registered capital of RMB 438,000,000, which will enhance its operational capacity[17] - The company anticipates continued losses for the cumulative net profit attributable to shareholders for the year, primarily due to significant investments in key business projects[17] - The company has not disclosed any new product developments or market expansion strategies in this report[9] Changes in Accounting Standards - The company has implemented new revenue and lease standards starting from 2020, impacting financial reporting[37] - The company implemented new revenue recognition standards starting January 1, 2020, affecting the financial reporting[44] - The company reported a retained earnings adjustment of approximately ¥5.37 million due to the new accounting standards[43]