卓郎智能(600545) - 2020 Q1 - 季度财报

Financial Performance - Operating revenue decreased by 31.5% to CNY 1,162,953 thousand year-on-year[5] - Net profit attributable to shareholders decreased by 134.9% to CNY -48,170 thousand compared to the same period last year[5] - The net cash flow from operating activities was CNY -1,243,307 thousand, showing a significant decline from CNY -830,342 thousand in the previous year[5] - Basic and diluted earnings per share were both CNY -0.0256, a decrease of 135.1% compared to the previous year[5] - Operating revenue declined by 31.5% to CNY 1,162,953 thousand, impacted by insufficient production rates due to the pandemic[9] - Operating costs fell by 31.7% to CNY 815,113 thousand, in line with the decrease in sales revenue[9] - Net profit for Q1 2020 was a loss of CNY 51,018 thousand, compared to a profit of CNY 175,551 thousand in Q1 2019, representing a significant decline[18] - The company reported a gross margin of approximately -3.2% in Q1 2020, compared to a gross margin of 10.5% in Q1 2019[18] - In Q1 2020, the company reported a net loss of CNY 36,274,000, compared to a net loss of CNY 17,705,000 in Q1 2019, representing a 105.5% increase in losses year-over-year[22] Assets and Liabilities - Total assets increased by 3.3% to CNY 13,644,840 thousand compared to the end of the previous year[5] - The company’s total assets as of March 31, 2020, were CNY 10,553,129 thousand, down from CNY 10,910,672 thousand at the end of 2019[16] - Total liabilities as of March 31, 2020, were CNY 7,377,119 thousand, an increase of 7.4% from CNY 6,872,172 thousand at the end of 2019[16] - The company’s total liabilities stood at CNY 6,872,172,000 as of the end of Q1 2020, remaining stable compared to the previous year[27] - Current liabilities totaled CNY 1,945,938 thousand, with short-term borrowings at CNY 741,734 thousand[31] - Non-current liabilities were reported at CNY 4,560 thousand[31] Shareholder Information - The total number of shareholders at the end of the reporting period was 67,181[6] - The largest shareholder, Jiangsu Jinsheng Industrial Co., Ltd., held 46.94% of the shares, with 889,759,677 shares pledged[6] - Total equity attributable to shareholders reached CNY 4,944,110 thousand as of March 31, 2020[28] Cash Flow and Financing - Cash and cash equivalents decreased by 49.6% to CNY 1,211,931 thousand due to net cash outflow from operating activities[9] - Operating cash flow for Q1 2020 was negative CNY 1,243,307,000, worsening from negative CNY 830,342,000 in Q1 2019, indicating a decline of 49.8% in cash flow performance[24] - The company raised CNY 1,321,194,000 through borrowings in Q1 2020, significantly higher than CNY 574,571,000 in Q1 2019, reflecting a 130% increase in financing activities[24] Other Financial Metrics - The weighted average return on net assets decreased by 3.92 percentage points to -0.98%[5] - Financial expenses increased significantly, resulting in a net expense of CNY 78,294 thousand, mainly due to exchange rate fluctuations[10] - Other comprehensive income surged by 317.1% to CNY 17,529 thousand, mainly due to exchange rate fluctuations[9] - Research and development expenses increased to CNY 107,522 thousand in Q1 2020, up 8.5% from CNY 99,398 thousand in Q1 2019[18] - The company incurred total operating expenses of CNY 1,692,579,000 in Q1 2020, an increase of 18.9% compared to CNY 1,422,940,000 in Q1 2019[24] Impact of COVID-19 - The company faced delays in order deliveries due to the impact of the pandemic on domestic and overseas factory capacities and supply chains[5] - The company expects a significant decline in cumulative net profit compared to the previous year due to the impact of the COVID-19 pandemic[10]