GLARUNTECH(SH:600562)2020-04-29 16:00Financial Performance - Operating revenue decreased by 49.84% to CNY 103,091,807.76 compared to the same period last year[5] - Net profit attributable to shareholders was CNY -2,940,961.04, a decrease of 117.04% compared to the same period last year[5] - The company reported a net loss for Q1 2020, with total costs exceeding revenues, leading to a negative financial performance compared to the previous year[22] - The total profit for Q1 2020 was -¥4,472,439.03, compared to ¥20,476,251.81 in Q1 2019, reflecting a substantial loss[24] - The company's operating profit for Q1 2020 was -¥4,482,639.09, a decrease from ¥20,424,407.56 in the same period last year[24] - The total equity attributable to shareholders decreased to CNY 1,601,783,288.18 from CNY 1,601,683,372.70, a slight decline of 0.006%[21] - The company anticipates no significant changes in net profit compared to the previous year, indicating stability in financial performance[15] Assets and Liabilities - Total assets increased by 0.96% to CNY 2,969,808,922.99 compared to the end of the previous year[5] - Total current assets increased to ¥2,591,913,209.69 from ¥2,561,081,286.54, indicating a slight growth in liquidity[17] - Total liabilities as of March 31, 2020, were CNY 196,022,583.94, significantly higher than CNY 93,493,707.91 in the previous year, marking an increase of 109.9%[20] - Total liabilities reached CNY 1,134,354,017.83, a decrease of CNY 181,508,325.43 from the previous period[34] - The total liabilities to equity ratio stands at approximately 5.83%, indicating a relatively low leverage position[40] Cash Flow - Net cash flow from operating activities was CNY 151,506,443.21, a significant improvement from CNY -77,889,167.99 in the same period last year[5] - Cash inflow from operating activities amounted to ¥509,824,046.85, an increase from ¥312,724,160.83 in the previous year, reflecting a significant improvement[28] - Cash paid for operating activities decreased by 39.14% to ¥20,488,527.07 from ¥33,667,485.73, mainly due to reduced expenses and lower bid guarantee payments[13] - Net cash flow from financing activities was -¥52,728,639.26, compared to -¥1,679,127.38 in the same period last year, showing a larger outflow[29] Shareholder Information - The number of shareholders at the end of the reporting period was 29,821[7] - The largest shareholder, China Electronics Technology Group Corporation No. 14 Research Institute, holds 26.48% of the shares[7] Inventory and Receivables - The company reclassified certain inventory to contract assets under the new revenue recognition standards, resulting in a contract asset of CNY 226,761,571.79[9] - Inventory increased significantly by CNY 346,129,239.57, reaching CNY 1,009,386,438.94[33] - Accounts receivable decreased by CNY 184,539,108.96, totaling CNY 594,969,740.58[33] Research and Development - Research and development expenses increased to CNY 12,281,283.49 in Q1 2020, up from CNY 9,794,207.25 in Q1 2019, representing a growth of 25.3%[22] Revenue Recognition Changes - The company implemented new revenue accounting standards starting January 1, 2020, affecting revenue recognition methods[36] - The company is implementing new revenue recognition and leasing standards effective from January 1, 2020, which may impact future financial reporting[41]