SUMEC(SH:600710)2020-04-24 16:00Financial Performance - Operating revenue decreased by 14.42% to CNY 16.03 billion year-on-year[11] - Net profit attributable to shareholders decreased by 5.76% to CNY 78.86 million compared to the same period last year[11] - The company reported a net profit margin decline due to reduced operating revenue, impacting overall profitability[39] - The net profit attributable to the parent company's shareholders decreased from ¥293,595,651.67 to ¥166,870,457.04, a decline of about 43.3%[43] - The total profit decreased from ¥388,942,049.32 to ¥230,405,286.01, a decline of about 40.6%[43] - The total comprehensive income attributable to the parent company was ¥57,160,470.37, down from ¥85,709,251.60, a decrease of approximately 33.3%[45] Cash Flow - Net cash flow from operating activities was negative at CNY -3.67 billion, compared to CNY 1.46 billion in the previous year[11] - Net cash flow from operating activities dropped by 351.5% to -CNY 3,671,985,704.62 due to increased procurement payments[20] - The net cash outflow from operating activities was CNY -3,671,985,704.62, compared to a net inflow of CNY 1,460,219,793.57 in the same period last year[56] - The cash inflow from financing activities was CNY 9,478,724,459.21, significantly higher than CNY 5,310,054,903.18 in Q1 2019, marking an increase of 78.5%[56] - The net cash flow from financing activities surged by 7351.3% to CNY 3,093,613,616.15, reflecting increased short-term financing[20] Assets and Liabilities - Total assets increased by 16.25% to CNY 47.18 billion compared to the end of the previous year[11] - Total liabilities rose to ¥37.40 billion, up from ¥30.88 billion, indicating a year-over-year increase of about 21%[31] - Current liabilities totaled ¥34.94 billion, compared to ¥28.39 billion in the previous year, reflecting a growth of around 23%[31] - Non-current liabilities amounted to ¥2.46 billion, slightly down from ¥2.50 billion, showing a decrease of about 1.3%[31] - Total current assets amounted to CNY 35,840,031,385.58, up from CNY 29,159,952,762.54 in the previous year[28] Shareholder Information - The total number of shareholders at the end of the reporting period was 42,579[18] - The largest shareholder, China National Machinery Industry Group, holds 23.23% of shares[15] - The company's equity attributable to shareholders increased to ¥4.88 billion from ¥4.82 billion, a rise of approximately 1.5%[33] Inventory and Prepayments - Prepayments increased by 32.4% to CNY 7,651,999,240.62 due to peak procurement activities in the supply chain operations[20] - Inventory rose by 122.0% to CNY 8,791,790,099.80 as sales progress was lower than the same period last year[20] - The total inventory is valued at CNY 3,959,587,542.89, reflecting the company's stock levels[64] Research and Development - Research and development expenses decreased by 31.5% to CNY 44,529,742.48, reflecting reduced investment in R&D activities[20] - Research and development expenses decreased from ¥65,039,756.29 to ¥44,529,742.48, a reduction of approximately 31.5%[43] Financial Expenses - Financial expenses decreased by 35.9% to CNY 131,139,424.67, driven by lower financing costs and increased foreign exchange gains[20] - The financial expenses, including interest expenses, decreased from ¥204,686,189.37 to ¥131,139,424.67, a reduction of approximately 35.8%[43] Future Outlook - The company is focusing on market expansion and new product development to drive future growth[39] - The company plans to enhance its financial position through strategic investments and potential acquisitions in the upcoming quarters[39]