保变电气(600550) - 2019 Q1 - 季度财报

Financial Performance - Operating revenue increased by 1.67% to CNY 550,597,952.92 compared to the same period last year[10]. - Net profit attributable to shareholders was -CNY 40,028,326.90, an improvement from -CNY 59,370,960.06 in the same period last year[10]. - The weighted average return on equity was -5.19%, improving from -12.67% in the same period last year[10]. - Basic and diluted earnings per share were both -CNY 0.02, an improvement from -CNY 0.04 in the same period last year[10]. - Total operating revenue for Q1 2019 was approximately ¥550.60 million, an increase of 1.90% compared to ¥541.57 million in Q1 2018[42]. - Net loss for Q1 2019 was approximately ¥43.21 million, an improvement from a net loss of ¥63.97 million in Q1 2018[43]. - The company reported a total operating profit of -45,286,055.58 RMB in Q1 2019, compared to -42,333,544.72 RMB in Q1 2018, indicating continued operational challenges[48]. - The total comprehensive income for the period was -38,552,738.56 RMB, an improvement from -42,196,668.53 RMB in the previous year, indicating a slight recovery in overall financial performance[48]. Assets and Liabilities - Total assets decreased by 8.42% to CNY 6,665,904,653.09 compared to the end of the previous year[10]. - Total liabilities decreased from 6,304,420,788.21 to 5,730,684,595.99, a decline of approximately 9.1%[32]. - The total equity attributable to shareholders decreased from 787,569,137.29 to 754,927,752.68, a decrease of about 4.1%[32]. - The company reported a total asset value of $7.28 billion, with current liabilities totaling $6.03 billion, indicating a high leverage situation[63]. - The company’s total liabilities reached $6.16 billion, with short-term borrowings accounting for $3.23 billion, reflecting significant debt obligations[63]. - The company reported a negative retained earnings of ¥5,351,342,320.27, indicating accumulated losses[65]. Cash Flow - Net cash flow from operating activities decreased by 705.35% to -CNY 192,255,293.16 compared to the same period last year, primarily due to a decrease in cash received from sales of goods and services[10]. - The company's operating cash flow for Q1 2019 was negative at -192,255,293.16 RMB, compared to a positive cash flow of 31,759,320.27 RMB in Q1 2018, indicating a significant decline in cash generation from operations[50]. - Total cash outflow from operating activities amounted to $678.08 million, down from $852.10 million, reflecting a decrease in operational expenditures[55]. - The ending cash and cash equivalents balance decreased to $317.60 million from $931.50 million, highlighting liquidity challenges[55]. - Cash inflow from financing activities rose to $2.05 billion from $1.87 billion, indicating a stronger reliance on external financing[55]. Shareholder Information - The total number of shareholders at the end of the reporting period was 117,039[12]. - The largest shareholder, China Weaponry Equipment Group, held 44.56% of the shares[12]. Government Support - The company received government subsidies amounting to CNY 1,268,400.01 during the reporting period[13]. Investment and R&D - Research and development expenses for Q1 2019 were approximately ¥22.91 million, a decrease of 20.25% from ¥28.74 million in Q1 2018[42]. - The company incurred financial expenses of 39,121,988.66 RMB in Q1 2019, a decrease from 53,740,725.89 RMB in Q1 2018, suggesting improved financial management[48].