HACL(SH:600598)2019-04-25 16:00Financial Performance - Operating revenue decreased by 16.89% to CNY 571,975,900.54 year-on-year[4] - Net profit attributable to shareholders decreased by 5.57% to CNY 271,402,759.68 compared to the same period last year[4] - Basic earnings per share decreased by 5.56% to CNY 0.153[4] - The company reported a decrease in net profit after deducting non-recurring gains and losses by 5.45% to CNY 271,212,144.95[4] - Total revenue for Q1 2019 was CNY 571,975,900.54, a decrease of 15.9% compared to CNY 688,206,187.31 in Q1 2018[23] - Net profit for Q1 2019 was CNY 268,417,332.49, a decrease of 6.6% compared to CNY 287,421,438.88 in Q1 2018[24] - Net profit for Q1 2019 was CNY 275.83 million, down from CNY 287.54 million in Q1 2018, reflecting a decline of 4.1%[27] Assets and Liabilities - Total assets increased by 35.16% to CNY 10,777,149,906.54 compared to the end of the previous year[4] - Current assets totaled CNY 5,920,493,042.07, up from CNY 3,045,635,432.04, indicating a growth of about 94.5% year-over-year[15] - Total liabilities were reported at CNY 4,201,568,604.65, compared to CNY 1,665,561,202.04, indicating a growth of around 152.5%[17] - The total current liabilities amounted to CNY 4,084,998,977.68, significantly higher than CNY 1,544,172,790.02, reflecting an increase of about 164.5%[17] - Total liabilities for Q1 2019 were CNY 3,906,273,528.07, compared to CNY 1,365,662,830.08 in Q1 2018[22] Cash Flow - Net cash flow from operating activities increased by 3.01% to CNY 2,623,640,137.11 year-on-year[4] - Cash flow from operating activities in Q1 2019 was CNY 2.62 billion, an increase of 3.0% from CNY 2.55 billion in Q1 2018[29] - Cash inflow from operating activities totaled CNY 3,049,945,049.55, up from CNY 2,906,622,643.38 in the same period last year, reflecting a growth of 4.9%[33] - The net cash flow from investment activities was negative at CNY -1,289,939,152.93, an improvement from CNY -2,121,191,668.12 in the previous year[33] Shareholder Information - The total number of shareholders at the end of the reporting period was 1,140,262,121, with the largest shareholder holding 64.14%[8] - The company's equity attributable to shareholders reached CNY 6,781,883,241.08, an increase from CNY 6,511,221,985.34, showing a growth of approximately 4.1%[17] - Shareholders' equity totaled CNY 6,833,223,592.95 in Q1 2019, up from CNY 6,558,133,473.54 in Q1 2018[22] Inventory and Receivables - Accounts receivable rose by 52.76% to RMB 3,258.21 million, mainly from increased receivables for agricultural materials[10] - Inventory increased by 81.29% to RMB 44,696.34 million, attributed to unsold agricultural materials purchased during the period[10] - Prepayments surged by 310.07% to RMB 258,779.24 million, resulting from advance payments for land contracts and agricultural materials[10] Government Support and R&D - The company received government subsidies amounting to CNY 91,021.95 during the reporting period[5] - The company reported a significant decrease in research and development expenses, down 100% compared to the previous period, due to the postponement of agricultural research projects[11] - Research and development expenses for Q1 2019 were CNY 95,737.21, compared to CNY 0 in Q1 2018[24] Financial Adjustments and Standards - The company has adjusted its financial asset reporting in accordance with new accounting standards effective January 1, 2019[37] - The implementation of new financial instrument standards has been adopted since January 1, 2019, affecting the classification of non-trading equity investments[42] - The company continues to comply with the revised accounting standards set by the Ministry of Finance[42]