SHD(SH:600630)2020-05-05 16:00Financial Performance - Operating revenue decreased by 29.45% to CNY 727,253,502.93 year-on-year[12] - Net profit attributable to shareholders was CNY -98,994,571.98, a decrease of 1,227.51% compared to the same period last year[12] - The company's operating revenue for Q1 2020 was ¥727.25 million, a decrease of 29.45% compared to ¥1,030.84 million in Q1 2019 due to the impact of COVID-19 on brand retail sales and export orders[20] - The net profit for Q1 2020 was a loss of ¥98,955,767.50, compared to a net profit of ¥8,879,464.84 in Q1 2019, indicating a substantial downturn[44] - The operating profit for Q1 2020 was reported at -¥77,510,882.66, contrasting with an operating profit of ¥14,280,540.79 in the same period last year[44] - The total comprehensive income for Q1 2020 was -¥99,181,526.40, compared to ¥8,824,490.02 in Q1 2019, reflecting a significant decline[44] Assets and Liabilities - Total assets increased by 6.75% to CNY 3,158,452,171.03 compared to the end of the previous year[12] - The total liabilities of the company as of March 31, 2020, were ¥1,415.95 million, up from ¥1,117.12 million as of December 31, 2019[31] - Total liabilities increased to approximately ¥410.65 million in Q1 2020 from ¥384.29 million in Q1 2019, an increase of 6.9%[36] - Total assets amounted to ¥2,958,798,958.75, with current assets at ¥2,476,713,676.62 and non-current assets at ¥482,085,282.13[60] - The company's equity attributable to shareholders was ¥1,822,672,105.62, with total equity at ¥1,841,683,481.13[63] - The company has a deferred income tax asset of ¥1,055,680.06, reflecting potential future tax benefits[60] Cash Flow - Cash flow from operating activities improved by 13.56% to CNY -75,011,690.00 compared to the previous year[12] - The company reported a significant increase in cash flow from financing activities, amounting to ¥64.69 million, a 479.10% increase compared to a negative cash flow of ¥17.07 million in Q1 2019, primarily due to obtaining special loans for epidemic prevention[20] - The company reported a cash inflow from operating activities of ¥855,994,664.00 in Q1 2020, down from ¥1,158,974,229.02 in Q1 2019[46] - Total cash inflow from operating activities was 1,148,125,727.43, while cash outflow was 1,223,137,417.43, resulting in a net cash flow deficit[50] - Cash inflow from financing activities amounted to 281,853,648.21, with a net cash flow of 64,694,141.50, contrasting with a net outflow of -17,065,367.89 in the previous period[52] Shareholder Information - The number of shareholders at the end of the reporting period was 77,988[15] - The largest shareholder, Shanghai Textile (Group) Co., Ltd., holds 30.08% of the shares[15] Operational Changes - The company reported a significant increase of 298.52% in construction in progress due to investments in mask and protective clothing production facilities[18] - The company has adjusted its accounting practices, resulting in a shift from advance receipts to contract liabilities[18] - The company experienced an 81.83% increase in accounts payable, indicating a rise in outstanding payments[18] - Management expenses decreased by 27.99% to ¥37.24 million in Q1 2020 from ¥51.71 million in Q1 2019, attributed to reduced salaries and administrative expenses[20] - The company adopted new revenue recognition standards starting January 1, 2020, which may impact future financial reporting[68] Inventory and Receivables - The company's inventory increased to ¥1,075.50 million in Q1 2020, compared to ¥1,001.22 million in Q1 2019, reflecting a strategy to maintain stock levels amid market fluctuations[25] - Accounts receivable increased to approximately ¥49.34 million in Q1 2020 from ¥35.36 million in Q1 2019, reflecting a growth of 39.5%[33] - Other receivables were recorded at ¥170,690,106.53, contributing to the overall asset structure[60] Financial Ratios - The weighted average return on equity decreased by 6.06 percentage points to -5.58%[12] - Gross profit for Q1 2020 was approximately ¥158.46 million, representing a gross margin of 21.8%[38] - The company maintained a stable equity position with total equity reaching approximately ¥1.38 billion in Q1 2020, up from ¥1.37 billion in Q1 2019[38]