CCEG(SH:600697)2021-04-16 16:00Financial Performance - Net profit attributable to shareholders decreased by 143.78% to a loss of CNY 22,031,761.33 compared to the same period last year[5] - Operating revenue dropped by 56.73% to CNY 1,769,990,820.29 compared to the previous year[5] - Operating revenue decreased by 56.73% year-on-year to ¥1,769,990,820.29, primarily due to the implementation of new revenue standards and the impact of COVID-19[14] - Operating costs decreased by 66.05% year-on-year to ¥1,064,503,340.47, reflecting similar reasons as the revenue decline[14] - The company reported a loss attributable to shareholders of ¥22,031,761.33 in Q1 2020, compared to a profit of ¥50,321,171.90 in Q1 2019[25] - Net profit for Q1 2020 was ¥46,014.65, a significant decline from ¥127,350,963.87 in Q1 2019[24] - The net profit for Q1 2020 was a loss of ¥31,725,714.91, compared to a profit of ¥49,865.96 in Q1 2019[27] Cash Flow - The net cash flow from operating activities improved by 27.88%, reaching a negative CNY 182,032,511.80[5] - Net cash flow from operating activities increased by 27.88% year-on-year to -¥182,032,511.80, attributed to an increase in cash received related to operating activities[15] - Net cash flow from investing activities decreased by 220.11% year-on-year to -¥634,081,798.59, primarily due to cash outflows for acquiring minority interests in subsidiaries[15] - Net cash flow from financing activities increased by 339.92% year-on-year to ¥854,537,214.55, driven by the issuance of short-term financing bonds and cash received from special loans related to the pandemic[15] - The net cash flow from operating activities was negative at ¥182,032,511.80 for Q1 2020, an improvement from a loss of ¥252,400,622.58 in Q1 2019[28] Assets and Liabilities - Total assets increased by 0.87% to CNY 22,956,958,935.58 compared to the end of the previous year[5] - Total current assets as of January 1, 2020, amounted to CNY 5,623,742,476.61, with cash and cash equivalents at CNY 1,266,170,784.91[31] - Total non-current assets as of January 1, 2020, were CNY 17,135,872,107.99, including fixed assets valued at CNY 13,010,943,861.76[31] - Total liabilities as of January 1, 2020, reached CNY 16,907,894,512.56, with current liabilities totaling CNY 14,517,624,977.27[32] - The company’s total liabilities reached ¥11,783,888,766.88 in Q1 2020, compared to ¥10,885,102,008.44 in Q4 2019, marking an increase of 8.3%[23] - Current liabilities rose to ¥9,679,731,766.88 in Q1 2020, compared to ¥8,779,915,008.44 in Q4 2019, indicating an increase of 10.2%[23] Shareholder Information - The number of shareholders reached 16,302 by the end of the reporting period[9] - The top shareholder, Changchun Automotive City Commercial Co., Ltd., holds 39,013,891 shares, accounting for 24.52% of total shares[9] Adjustments and Standards - The company implemented new revenue and lease standards starting January 1, 2020, resulting in adjustments to financial statement items[33] - The adjustment to "contract liabilities" was CNY 2,630,595,210.17, reflecting a decrease in "advance receipts" by CNY 2,503,587,063.01[33] - The company adjusted the "prepayments" account by reducing it by approximately $1.32 billion and increased "contract liabilities" by about $1.35 billion due to the new revenue recognition standards[36] - The adjustment also included a reduction of "other current liabilities" by approximately $27.48 million[36]