BHC(SH:600721)2020-07-28 16:00Financial Performance - Operating revenue fell by 33.80% to CNY 46,641,794.47 year-on-year[5] - Net profit attributable to shareholders decreased by 100.61%, resulting in a loss of CNY 153,698.53[5] - Basic earnings per share dropped by 94.55% to CNY 0.0036[5] - The company reported a significant decline in net profit, indicating challenges in the current market environment[5] - The company recorded a net profit decrease of 90.09% in investment income, dropping to RMB 0.52 million from RMB 5.29 million in the previous year, primarily due to the disposal of a subsidiary[16] - The company anticipates potential significant changes in net profit compared to the previous year, although specific forecasts were not provided[19] - Total operating revenue for Q1 2020 was ¥46,641,794.47, a decrease of 33.9% compared to ¥70,454,860.94 in Q1 2019[30] - Net profit for Q1 2020 was ¥1,454,817.41, a decrease of 94.5% from ¥26,308,541.27 in Q1 2019[32] - Total comprehensive income for Q1 2020 was ¥885,802.02, a decrease of ¥2,109,250.74 compared to Q1 2019[37] Assets and Liabilities - Total assets decreased by 0.70% to CNY 1,282,128,516.02 compared to the end of the previous year[5] - The company reported a significant decrease in cash reserves, with a year-end balance of RMB 24.85 million, down 51.39% from RMB 51.12 million at the beginning of the period[15] - Current assets totaled ¥595,814,854.07, slightly down from ¥599,439,079.01, indicating a decrease of about 0.4%[23] - Total liabilities rose from ¥336,510,151.29 to ¥341,248,010.17, an increase of about 1.1%[23] - The company's equity attributable to shareholders decreased from ¥954,695,566.45 to ¥940,880,505.85, a decline of approximately 1.5%[24] - Total liabilities as of Q1 2020 were ¥89,268,908.96, a slight decrease from ¥91,109,367.03 in the previous year[30] - Total liabilities were reported at ¥336,510,151.29, slightly decreasing from ¥336,539,853.91, indicating a change of 29,702.62[44] Cash Flow - Cash flow from operating activities improved by 56.28%, with a net cash flow of CNY -21,235,073.15[5] - Cash inflow from operating activities in Q1 2020 was ¥52,743,048.39, down 19.4% from ¥65,461,677.50 in Q1 2019[38] - Cash outflow from operating activities in Q1 2020 totaled ¥73,978,121.54, a decrease of 35.2% from ¥114,030,995.75 in Q1 2019[39] - Net cash flow from operating activities for Q1 2020 was ¥-21,235,073.15, an improvement from ¥-48,569,318.25 in Q1 2019[39] - Cash flow from investment activities in Q1 2020 was ¥-4,816,814.87, compared to ¥25,860,185.69 in Q1 2019[39] - Cash flow from financing activities in Q1 2020 was ¥-219,916.66, an improvement from ¥-2,912,231.22 in Q1 2019[39] - The ending cash and cash equivalents balance for Q1 2020 was ¥24,851,358.14, down from ¥74,758,012.05 in Q1 2019[39] Shareholder Information - The total number of shareholders reached 12,027 at the end of the reporting period[11] - The largest shareholder, Xinjiang Hualing Industrial Trade Group, holds 19.86% of shares[11] Inventory and Receivables - Accounts receivable increased by 66.04%, reaching RMB 23.77 million compared to RMB 14.31 million at the start of the period, primarily due to increased sales in pharmaceutical R&D projects[15] - The company’s inventory rose to RMB 247.75 million, an increase of 4.57% from RMB 236.93 million, reflecting adjustments in stock levels[14] - Inventory increased from ¥236,932,526.73 to ¥268,415,149.78, reflecting a growth of approximately 13.3%[22] Expenses - Sales expenses increased by 74.74% to RMB 1.33 million, driven by higher costs associated with sales activities and the consolidation of additional companies[16] - Financial expenses surged by 1161.25% to RMB 0.57 million, mainly due to unrecognized financing costs and increased interest expenses[16] - The company incurred management expenses of ¥15,373,837.32 in Q1 2020, an increase from ¥13,456,342.84 in Q1 2019[31] Other Financial Metrics - The weighted average return on equity decreased by 2.71 percentage points to 0.15%[5] - Non-recurring gains and losses amounted to CNY 1,608,515.94[8] - The company is currently in the process of fulfilling a compensation obligation related to a performance guarantee agreement, which is expected to impact future financial results[18]