SHENHUA HOLDINGS(SH:600653)2020-04-29 16:00Financial Performance - Operating revenue fell by 35.88% to CNY 1,111,094,457.43, primarily due to the impact of the COVID-19 pandemic[13] - Net profit attributable to shareholders decreased by 452.70% to a loss of CNY 40,203,338.35, compared to a profit of CNY 11,398,662.50 in the same period last year[6] - The net loss for Q1 2020 was CNY 31,470,253.72, compared to a net profit of CNY 24,391,705.98 in Q1 2019[26] - The company reported an operating profit of CNY -25,583,337.02 for Q1 2020, compared to CNY -9,922,438.58 in Q1 2019[26] - The company incurred financial expenses of CNY 43,481,519.04 in Q1 2020, an increase from CNY 29,061,113.13 in Q1 2019[26] - The investment loss for Q1 2020 was CNY -2,563,941.46, compared to a gain of CNY 2,484,710.48 in Q1 2019[26] - The company’s total profit before tax was negative CNY 35,646,055.46 in Q1 2020, compared to a profit of CNY 20,408,851.64 in Q1 2019[30] Cash Flow and Liquidity - Cash flow from operating activities showed a significant decline, with a net outflow of CNY 139,293,877.73, a decrease of 577.90% year-on-year[6] - Operating cash flow for Q1 2020 was negative CNY 139,293,877.73, a deterioration from negative CNY 20,547,905.76 in Q1 2019[32] - The company reported a significant increase in cash paid for operating activities, totaling 299,579,044.15 RMB, compared to 125,234,861.81 RMB in the previous year[35] - Total cash inflow from financing activities was CNY 498,415,110.58 in Q1 2020, down from CNY 1,097,072,000.00 in Q1 2019[33] - Cash and cash equivalents decreased significantly to 635.22 million RMB from 1.28 billion RMB, a drop of about 50.5%[17] - The cash inflow from financing activities was 318,064,000.00 RMB, a decrease from 743,348,000.00 RMB year-over-year, while cash outflow from financing activities was 502,201,517.48 RMB, compared to 575,586,004.93 RMB previously[35] Assets and Liabilities - Total assets decreased by 7.26% to CNY 6,828,156,097.23 compared to the end of the previous year[6] - The company's total liabilities decreased to 4.46 billion RMB from 4.95 billion RMB, a decline of about 9.9%[19] - Total current liabilities decreased to 3.06 billion RMB from 3.53 billion RMB, a reduction of approximately 13.4%[19] - The total liabilities amounted to 4,946,009,283.32 RMB, with current liabilities at 3,526,560,848.42 RMB, indicating a stable liability structure[39] - The company’s total equity decreased to 2.37 billion RMB from 2.42 billion RMB, a decline of about 2.1%[19] - The company’s total equity stood at 2,416,340,029.48 RMB, with a negative retained earnings of -411,115,787.60 RMB[39] Inventory and Prepayments - The company reported a significant increase in prepayments to 781.40 million RMB from 505.17 million RMB, an increase of approximately 54.5%[17] - The company's inventory decreased to 1.38 billion RMB from 1.52 billion RMB, a reduction of approximately 9.2%[17] Financing and Debt - Financial expenses increased by 49.62% to CNY 43,481,519.04, attributed to a higher average financing scale compared to the previous year[13] - The company plans to issue debt financing instruments not exceeding 500 million RMB[14] - Long-term borrowings amounted to $900 million, indicating a significant leverage position[43] - The total liabilities to equity ratio is approximately 1.80, indicating a higher reliance on debt financing[43] Market and Product Development - The company did not report any new product launches or significant market expansion strategies during this quarter[12] - There are no indications of mergers or acquisitions in the current financial report[44]