AURORA(SH:600666)2020-04-28 16:00Financial Performance - Revenue for the period was CNY 75,312,901.62, down 64.90% year-on-year[7] - Net profit attributable to shareholders was CNY -20,315,419.97, compared to CNY -50,341,486.26 in the same period last year[7] - Net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -26,535,371.63, compared to CNY -60,567,471.63 in the same period last year[7] - Basic and diluted earnings per share were both CNY -0.02, compared to CNY -0.04 in the same period last year[7] - Net loss for Q1 2020 was ¥20,689,385.23, an improvement from a net loss of ¥50,395,587.30 in Q1 2019[32] - The company's net profit for Q1 2020 was -4,608,388.97 RMB, a significant decrease compared to -21,043,657.20 RMB in Q1 2019, indicating an improvement of approximately 78% year-over-year[34] - The total comprehensive income for Q1 2020 was -4,608,388.97 RMB, an improvement from -21,043,657.20 RMB in Q1 2019, marking a 78% reduction in losses[35] Assets and Liabilities - Total assets decreased by 2.26% to CNY 3,603,586,384.83 compared to the end of the previous year[7] - The company's current assets totaled CNY 1,355,940,823.57, down from CNY 1,488,118,813.60 in the previous year[22] - Total liabilities were CNY 2,860,966,253.16, down from CNY 2,923,530,958.09, showing a decrease of approximately 2.1%[23] - The total assets as of the end of Q1 2020 were ¥4,890,911,562.49, slightly down from ¥4,891,187,588.01 at the end of Q1 2019[28] - Total liabilities for Q1 2020 were ¥347,970,931.84, compared to ¥343,638,568.39 in Q1 2019, indicating a slight increase[28] Shareholder Information - The total number of shareholders was 56,320 at the end of the reporting period[12] - The largest shareholder, Zuo Hongbo, held 19.00% of the shares, amounting to 233,223,515 shares, with part of the shares frozen[12] - The company's equity attributable to shareholders was CNY 721,458,617.68, a decline from CNY 741,774,037.65[24] Cash Flow - Operating cash flow net amount was CNY -45,991,657.96, a decrease of 236.07% compared to the same period last year[7] - Cash received from sales decreased by ¥96,792,370.57, a drop of 68.55% attributed to reduced sales and reliance on acceptance bills[15] - The company reported a total cash outflow from operating activities of 316,080,194.27 RMB in Q1 2020, compared to 139,713,508.37 RMB in Q1 2019, reflecting a 126.5% increase in cash outflows[36] - The net cash flow from financing activities in Q1 2020 was 1,892,045.33 RMB, contrasting with a negative cash flow of -23,065,258.76 RMB in Q1 2019[37] Investment and Expenses - Long-term equity investments increased by ¥73,876,148.94, a rise of 362.07% due to the implementation of debt-to-equity swaps[14] - Development expenses decreased by ¥46,456,700.98, a decline of 70.57% as R&D costs were capitalized into intangible assets[14] - Research and development expenses for Q1 2020 were ¥13,167,581.74, a decrease of 12.2% from ¥14,996,926.98 in Q1 2019[31] - Financial expenses for Q1 2020 were ¥29,655,558.62, down 44.4% from ¥53,222,286.98 in Q1 2019[31] Risks and Legal Issues - The company faces risks related to potential administrative penalties from the China Securities Regulatory Commission due to alleged violations of securities laws[16] - The actual controllers' shares are subject to judicial freezing, posing a risk of change in control if shares are executed or forcibly liquidated[17] - Total funds occupied by the actual controller amount to ¥58,757,740 (including principal and interest), with previous unauthorized guarantees totaling ¥250 million[17] - The company is actively coordinating with creditors to resolve litigation risks and reduce debt burdens[18] - The net profit attributable to the parent company for the reporting period was not disclosed, but the company indicated a commitment to address outstanding compensation issues[19] - The company plans to communicate with creditors to resolve asset freezes and expedite the recovery of funds[19] - Aorui De Optical Co., Ltd. has committed to exploring additional performance compensation methods to protect the interests of small and medium investors[19] Operational Challenges - Operating revenue fell by ¥139,272,513.20, a decrease of 64.90% due to insufficient operating rates impacted by the pandemic[15] - The company's gross profit margin for Q1 2020 was negative, reflecting significant operational challenges[30] - The company implemented new revenue and lease standards starting from 2020, with retrospective adjustments to prior comparative data[42] - The audit report is not applicable for the current period[42]