ATLANTIC(SH:600558)2020-04-29 16:00Financial Performance - Operating revenue for the period was CNY 546,809,024.90, down 25.19% year-on-year[11] - Net profit attributable to shareholders was a loss of CNY 2,804,432.52, a decrease of 133.46% compared to the same period last year[11] - The company reported a 147.92% decrease in net profit, primarily due to the impact of COVID-19 on sales volume and gross profit[15] - Total operating revenue for Q1 2020 was ¥546,809,024.90, a decrease of 25.1% compared to ¥730,883,719.81 in Q1 2019[30] - Net profit for Q1 2020 was a loss of ¥4,340,870.01, compared to a profit of ¥9,059,283.56 in Q1 2019, representing a decline of 147.9%[31] - The company experienced a comprehensive loss of ¥4,889,413.97 in Q1 2020, compared to a comprehensive income of ¥9,138,027.56 in Q1 2019[31] Cash Flow - The net cash flow from operating activities was a negative CNY 124,534,469.58, compared to a positive CNY 24,296,785.85 in the previous year, representing a decline of 612.56%[11] - Cash flow from operating activities for Q1 2020 was a net outflow of ¥124,534,469.58, compared to a net inflow of ¥24,296,785.85 in Q1 2019[36] - In Q1 2020, the net cash flow from operating activities was -¥16,023,365.75, a significant decrease compared to ¥47,243,305.80 in Q1 2019, indicating a decline of approximately 134%[40] - The net cash flow from financing activities was -¥26,599,668.82, contrasting with a positive net cash flow of ¥24,497,773.35 in the same period last year, marking a decline of approximately 208%[42] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,001,514,098.75, a decrease of 0.55% compared to the end of the previous year[11] - The company's current assets totaled CNY 1,478,173,489.02, down from CNY 1,488,044,984.63 at the end of 2019, primarily due to a decrease in cash and cash equivalents[21] - Total liabilities decreased to CNY 800,636,837.10 from CNY 812,333,230.46, showing a reduction in financial obligations[23] - The company's equity attributable to shareholders was CNY 2,025,578,749.21, slightly down from CNY 2,028,657,453.71[23] Receivables and Inventory - Accounts receivable increased by 123.43% compared to the beginning of the period, attributed to the implementation of a credit sales policy[14] - The accounts receivable increased significantly to CNY 288,697,956.12 from CNY 129,210,046.37, indicating a rise in credit sales[21] - Inventory levels rose to CNY 559,686,338.16 from CNY 536,784,796.69, reflecting a strategy to maintain stock levels amid market demand[21] Shareholder and Investment Information - The company’s major shareholder, Sichuan Atlantic Group, has undergone a share transfer agreement which was later terminated[16][18] - The long-term investments remained stable at CNY 73,638,811.76, indicating a consistent investment strategy[21] - The company reported an investment income of ¥343,969.06 in Q1 2020, compared to ¥461,557.15 in Q1 2019[30] Expenses - Total operating costs for Q1 2020 were ¥550,905,011.11, down 23.3% from ¥718,044,162.42 in Q1 2019[30] - Research and development expenses for Q1 2020 were ¥8,263,982.29, slightly down from ¥8,831,164.82 in Q1 2019[30] - Sales expenses decreased to ¥16,684,452.99 in Q1 2020 from ¥23,358,663.67 in Q1 2019, a reduction of 28.7%[30] Cash and Cash Equivalents - Cash and cash equivalents decreased by 41.09% compared to the beginning of the period, mainly due to reduced sales receipts[14] - Cash and cash equivalents at the end of Q1 2020 were ¥210,657,123.57, down from ¥327,473,436.70 at the end of Q1 2019[37] - The total cash and cash equivalents at the end of Q1 2020 were ¥125,452,289.73, down from ¥240,102,290.99 at the end of Q1 2019, reflecting a decrease of about 48%[42]