SMEG(SH:600689)2020-04-29 16:00Financial Performance - Operating revenue for the reporting period was CNY 267,422,256.38, down 15.89% year-on-year [7]. - Net profit attributable to shareholders was a loss of CNY 2,979,506.22, a decrease of 193.04% compared to a profit of CNY 3,202,457.41 in the same period last year [7]. - Total operating revenue for Q1 2020 was CNY 267,422,256.38, a decrease of 16% compared to CNY 317,961,466.39 in Q1 2019 [27]. - Net profit for Q1 2020 was a loss of CNY 2,858,090.24, compared to a profit of CNY 3,350,053.95 in Q1 2019, indicating a significant decline in profitability [27]. - The company reported a significant increase in trading financial assets, which rose by 193.65% to CNY 69,604,160.00 due to investments in government bonds [10]. - The company reported a decrease in inventory to CNY 4,429,977.10 from CNY 4,492,380.79 year-over-year [21]. - The company plans to focus on cost reduction strategies to improve profitability in the upcoming quarters [27]. Cash Flow - Cash flow from operating activities was CNY 19,351,576.48, a significant improvement from a negative cash flow of CNY 39,959,875.47 in the previous year [7]. - The net cash flow from operating activities for Q1 2020 was ¥19,351,576.48, recovering from a negative cash flow of -¥39,959,875.47 in Q1 2019 [33]. - Total cash inflow from operating activities was ¥127,814,253.26, up from ¥110,158,543.35 in the same period last year, reflecting a growth of 16.1% [35]. - Cash outflow from operating activities decreased to ¥32,058,420.12 from ¥49,369,396.63, a reduction of 35.1% [35]. - The net cash flow from investing activities was -¥198,965,384.84, worsening from -¥149,822,441.53 year-over-year [37]. - The net increase in cash and cash equivalents was -¥103,209,551.70, compared to -¥89,033,294.81 in the previous year, indicating a decline of 15.9% [37]. - The ending balance of cash and cash equivalents dropped to ¥4,903,805.62 from ¥29,880,593.69, a decrease of 83.7% [37]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 719,082,760.40, a decrease of 0.66% compared to the end of the previous year [7]. - The company's cash and cash equivalents decreased to RMB 76,851,179.81 from RMB 256,047,798.95 at the end of 2019, representing a decline of approximately 70% [17]. - Total liabilities as of March 31, 2020, were CNY 160,720,936.74, compared to CNY 66,371,636.78 at the end of 2019, showing a substantial increase [22]. - Shareholders' equity totaled CNY 469,310,024.92 as of March 31, 2020, slightly down from CNY 472,055,138.42 at the end of 2019 [22]. - The company reported a total current liabilities of RMB 203,589,552.44, slightly down from RMB 204,423,288.48 at the end of 2019 [18]. Shareholder Information - The number of shareholders at the end of the reporting period was 32,766, with the top ten shareholders holding 25.95% of the shares [9]. - The company received government subsidies amounting to CNY 706,944.89 during the reporting period [8]. COVID-19 Impact - The company anticipates temporary impacts on production and operations due to the COVID-19 pandemic, affecting various business segments [13]. - The company has actively responded to COVID-19 by implementing government health regulations while gradually resuming operations [13]. - The company plans to continue monitoring the COVID-19 situation and its potential impacts on financial performance [13].