CSF(SH:600654)2020-04-29 16:00Financial Performance - The net profit attributable to shareholders was -CNY 109,700,810.87, a decrease of 10.59% compared to -CNY 99,195,559.00 in the same period last year[11]. - Operating revenue declined by 20.07% to CNY 483,727,966.28, mainly due to slow project development impacted by the pandemic[11]. - Total operating revenue decreased by 20.07% to ¥483,727,966.28 compared to ¥605,153,578.14 in the same period last year, primarily due to the impact of the pandemic on business operations[19]. - The company reported a total net profit of 3.7836 million CNY for the years 2015-2017, achieving only 28.86% of the cumulative performance commitment, resulting in a shortfall of 9.3252 million CNY[44]. - The net profit of Thailand Wei'an for the years 2016-2018 was 25.91788 million THB, which is 4.19377 million THB below the cumulative performance commitment, achieving 86.07% of the target[45]. Asset and Liability Changes - Total assets decreased by 4.71% to CNY 5,161,749,433.15 from CNY 5,417,149,338.46 at the end of the previous year[11]. - The company's total assets amounted to 5.1617 billion CNY, a decrease from 5.4171 billion CNY as of December 31, 2019[55]. - The total equity attributable to shareholders decreased from ¥313,343,557.56 to ¥180,140,342.91, representing a decline of about 42.5%[60]. - The total current liabilities increased from ¥2,176,153,093.39 to ¥2,195,212,966.59, reflecting a growth of approximately 0.9%[65]. - The company's current assets totaled 2.6994 billion CNY, down from 2.9317 billion CNY at the end of 2019[55]. Cash Flow and Management - The net cash flow from operating activities decreased by 450.83% to -CNY 225,976,663.50, attributed to reduced sales collections due to the pandemic[11]. - Cash received from sales and services dropped by 27.08% to ¥640,118,936.86 from ¥877,807,740.43, mainly due to decreased sales collections[19]. - The company reported cash inflows from operating activities totaling CNY 658,309,513.26, a decrease of 30.3% compared to CNY 944,087,851.15 in Q1 2019[80]. - The ending balance of cash and cash equivalents was CNY 336,098,262.53, down from CNY 393,636,713.28 at the beginning of the period[84]. - The company is focused on maintaining a strong cash position to support future growth initiatives and potential acquisitions[100]. Shareholder and Equity Information - The total number of shareholders at the end of the reporting period was 70,560, with the largest shareholder holding 41.15% of the shares[12]. - 中恒汇志's major shareholder's shares have been frozen, affecting 98.89% of their holdings, but this has not yet impacted the company's control or operations[23]. - 中恒汇志 committed to compensate for the profit shortfall of 中安消技术有限公司, with a total of 176,751,344 shares required for compensation due to unmet performance targets from 2014 to 2016[41]. - The original shareholders of Shenzhen Keso need to compensate the company with a total cash amount of 36.038 million CNY, of which 2.8602 million CNY has already been compensated, leaving a balance of 33.1778 million CNY[44]. - The original shareholders of Thailand Wei'an are required to provide a cash compensation of 181.0981 million THB to the company[47]. Operational Adjustments and Commitments - The company has engaged a professional institution to conduct asset impairment testing as part of the profit compensation agreement[43]. - 中恒汇志 pledged to avoid competition with 中安消's main business for two years post-major asset restructuring, ensuring no conflicts of interest[33]. - 中恒汇志's commitment to not occupy 中安消技术's funds and to comply with legal regulations was reaffirmed[33]. - The company is actively adjusting its financial statements in accordance with new revenue and leasing standards, which has affected various asset and liability accounts[87]. - The company is actively pursuing legal action to protect the rights of minority shareholders regarding the compensation shares[43].