Gofar Stock(SH:600538)2020-04-29 16:00Financial Performance - Net profit attributable to shareholders decreased by 33.19% to CNY 1.03 million compared to the same period last year[5]. - Operating revenue increased by 5.90% to CNY 58.87 million compared to the same period last year[5]. - Basic earnings per share decreased by 33.33% to CNY 0.0022 compared to the same period last year[5]. - The weighted average return on equity decreased by 0.08 percentage points to 0.16%[5]. - The net profit attributable to shareholders of the parent company decreased by 33.19%, from RMB 1,542,815.63 in Q1 2019 to RMB 1,030,767.35 in Q1 2020[6]. - Net profit for Q1 2020 was CNY 1,030,767.35, down 33.1% from CNY 1,542,815.63 in Q1 2019[26]. - Earnings per share (EPS) for Q1 2020 was CNY 0.0022, compared to CNY 0.0033 in Q1 2019, reflecting a decrease of 33.3%[26]. - The company reported a significant increase in research and development expenses, rising to CNY 17,292.54 from CNY 14,025.92, an increase of 23.4%[25]. - Operating profit for Q1 2020 was CNY 1,809,825.70, up 56.2% from CNY 1,158,177.53 in Q1 2019[26]. Cash Flow and Assets - Net cash flow from operating activities improved significantly to CNY 6.74 million, compared to a negative CNY 9.91 million in the same period last year[5]. - Cash flow from operating activities improved significantly, with a net cash inflow of RMB 6,743,993.95 compared to a net outflow of RMB 9,907,849.65 in the same period last year, an increase of RMB 16,651,843.60[6]. - The net cash flow from operating activities in Q1 2020 was ¥6,743,993.95, a significant improvement from a net outflow of ¥9,907,849.65 in Q1 2019[32]. - The cash inflow from sales of goods and services was ¥68,068,643.20, an increase of 12.7% compared to ¥60,459,891.88 in Q1 2019[31]. - The cash and cash equivalents increased slightly to ¥234.70 million from ¥232.30 million, showing a growth of approximately 1.05%[20]. - The cash inflow from operating activities for the parent company in Q1 2020 was ¥22,568,734.60, up from ¥7,442,687.21 in Q1 2019, representing a 203.5% increase[33]. - The cash and cash equivalents for the parent company at the end of Q1 2020 were ¥177,531,780.80, down from ¥246,928,115.59 at the end of Q1 2019[33]. Assets and Liabilities - Total assets decreased by 0.87% to CNY 743.51 million compared to the end of the previous year[5]. - Current assets totaled ¥459.27 billion, down from ¥462.48 billion, indicating a decrease of about 0.48%[21]. - Total current liabilities decreased to ¥96.87 billion from ¥104.44 billion, a reduction of approximately 7.23%[22]. - The company's total equity increased to ¥646.64 billion from ¥645.61 billion, reflecting a growth of about 0.16%[22]. - Inventory decreased to ¥35.60 billion from ¥38.91 billion, indicating a decline of approximately 5.93%[20]. - Long-term equity investments slightly decreased to ¥69.04 billion from ¥69.56 billion, a decline of about 0.75%[20]. - The total liabilities remained stable at ¥96.87 billion, consistent with the previous reporting period[22]. - The company’s total liabilities and equity amounted to RMB 750,047,508.16, indicating a balanced financial position[37]. Shareholder Information - The total number of shareholders reached 21,087 by the end of the reporting period[10]. - The largest shareholder, Zhu Rongjuan, holds 28.46% of the shares, with 132,160,542 shares pledged[10]. Government Support and Donations - The company received government subsidies amounting to CNY 349,134.05, which are closely related to its normal business operations[7]. - The company’s subsidiaries donated a total of 50,000 bottles of ethanol disinfectant to various Red Cross organizations to support COVID-19 relief efforts[18]. Business Developments - The company has not disclosed any new product developments or market expansion strategies in this report[5]. - The company is in the process of a major asset restructuring, planning to acquire 99.9779% of Guangzhou Gaosheng Biotechnology Co., Ltd. through a combination of share issuance and cash payment[16]. - The company has established a new company with a registered capital of RMB 30 million, contributing RMB 4.5 million, representing 15% of the total capital[17]. Financial Adjustments - The company implemented new revenue and leasing standards starting in 2020, affecting the financial statements[34]. - The company executed a new revenue standard starting January 1, 2020, affecting retained earnings and financial statement adjustments[37].