YMCC(SH:600691)2020-04-27 16:00Financial Performance - Net profit attributable to shareholders was CNY -262,867,328.75, a significant decrease of 3,963.37% compared to the same period last year[10]. - Operating revenue for the period was CNY 3,888,480,390.08, down 18.46% year-on-year[10]. - The total profit decreased dramatically by 9838.34% to a loss of ¥320,798,117.36 from a profit of ¥3,294,176.06 in the same period last year, mainly due to weak market conditions and declining product prices[22]. - The company's operating revenue for Q1 2020 was CNY 1,034,852,734.51, a significant increase from CNY 582,730,389.71 in Q1 2019, representing an increase of approximately 77.7%[41]. - The net profit for Q1 2020 was a loss of CNY 330,998,052.85, compared to a loss of CNY 14,322,928.95 in Q1 2019, indicating a deterioration in profitability[42]. - The total comprehensive income for Q1 2020 was a loss of CNY 330,998,052.85, compared to a loss of CNY 14,629,678.27 in Q1 2019[42]. - The total profit for Q1 2020 was a loss of CNY 320,798,117.36, compared to a profit of CNY 3,294,176.06 in Q1 2019, indicating a significant decline[41]. Cash Flow - The net cash flow from operating activities was CNY -61,293,409.89, a decline of 123.84% compared to the previous year[10]. - Net cash flow from operating activities fell by 123.84% to -¥61,293,409.89, down from ¥257,149,646.42, primarily due to reduced sales caused by the pandemic[23]. - The net cash flow from financing activities increased significantly to ¥456,297,795.33 from -¥614,624,461.00, reflecting a reduction in repayments to related parties[23]. - Cash inflow from operating activities for Q1 2020 was 4,122,217,300.01 CNY, down 16.3% from 4,924,297,653.27 CNY in Q1 2019[45]. - The net cash flow from financing activities for Q1 2020 was 456,297,795.33 CNY, a recovery from -614,624,461.00 CNY in Q1 2019[45]. - The total cash inflow from financing activities in Q1 2020 was 5,152,746,853.00 CNY, compared to 4,222,900,537.50 CNY in Q1 2019, reflecting a growth of 21.9%[45]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 42,028,252,731.82, a decrease of 0.83% compared to the end of the previous year[10]. - Current assets increased to ¥15,668,483,015.47 from ¥14,901,818,858.59, driven by higher cash and inventory levels[28]. - The total liabilities amounted to ¥9,440,124,164.93, an increase from ¥6,816,442,150.67, indicating a rise of 38.5%[37]. - The total liabilities reached RMB 35.43 billion, indicating a high leverage ratio compared to total equity[52]. - The company holds cash and cash equivalents of RMB 9.75 billion, providing a strong liquidity position[50]. - The total current liabilities include accounts payable of approximately $17.26 million and employee compensation payable of about $7.20 million[59]. Shareholder Information - The total number of shareholders at the end of the reporting period was 48,465[12]. - The largest shareholder, Yangquan Coal Industry (Group) Co., Ltd., held 574,674,600 shares, representing 24.19% of the total shares[12]. Government Subsidies and Other Income - The company received government subsidies amounting to CNY 16,028,887.93 during the reporting period[10]. - Other income decreased by 30.95% to ¥14,862,273.72 compared to ¥21,523,017.25 in the same period last year, primarily due to a reduction in government subsidies related to daily operations[19]. Investment and R&D - Investment income showed a significant loss of ¥4,864,395.23, worsening from a loss of ¥700,321.70 in the previous year, attributed to increased losses from joint ventures[19]. - The company's research and development expenses for Q1 2020 were CNY 10,758,747.06, down from CNY 13,780,845.53 in Q1 2019, indicating a decrease of about 22%[41]. Compliance and Standards - The company is focused on compliance with the new revenue recognition standards, which took effect in 2020, ensuring accurate financial reporting[64].