金牛化工(600722) - 2020 Q1 - 季度财报

Financial Performance - Total revenue for Q1 2020 was 120,483,218.29 RMB, a decrease of 49.14% compared to 236,904,202.08 RMB in the same period last year[12] - Net profit attributable to shareholders was 4,064,902.81 RMB, down 16.38% from 4,860,955.45 RMB year-on-year[5] - The net cash flow from operating activities was 11,676,071.56 RMB, a significant decline of 74.96% compared to 46,638,111.92 RMB in the previous year[5] - The company reported a significant decrease in sales expenses, down 33.33% to 544,857.03 RMB, attributed to reduced sales volume and transportation costs[12] - Net profit for Q1 2020 was ¥7,241,335.27, a decline of 28.5% from ¥10,125,519.23 in Q1 2019[28] - The company reported a financial expense of -¥2,211,936.10 in Q1 2020, an improvement from -¥3,667,016.73 in Q1 2019[28] - The company recorded a credit impairment loss of ¥1,455,874.78 in Q1 2020, indicating potential challenges in asset quality[28] - The company incurred financial expenses of CNY -1,999,899.43 in Q1 2020, compared to CNY -3,348,570.34 in Q1 2019, showing a reduction of approximately 40.39%[32] Assets and Liabilities - Total assets at the end of the reporting period were 1,224,684,635.41 RMB, a slight increase of 0.04% from 1,224,148,988.52 RMB at the end of the previous year[5] - The total current assets as of March 31, 2020, amounted to ¥1,033,708,930.89, slightly up from ¥1,033,445,325.88 at the end of 2019[18] - Accounts receivable decreased to ¥20,889,512.67 from ¥39,125,869.30, indicating a significant reduction in outstanding payments[18] - The total liabilities decreased to ¥101,504,447.18 from ¥108,622,430.74, showing a reduction in overall debt[19] - Total liabilities for Q1 2020 were ¥40,635,307.16, a decrease from ¥47,265,418.38 in Q4 2019[25] - The company's total equity as of March 31, 2020, was ¥1,123,180,188.23, up from ¥1,115,526,557.78 at the end of 2019[20] - Shareholders' equity totaled ¥1,096,176,170.78 in Q1 2020, compared to ¥1,094,735,298.58 in Q4 2019[25] Inventory and Cash Flow - Inventory increased by 267.12% to 7,712,728.99 RMB due to the impact of the pandemic on subsidiary operations[11] - Inventory increased to ¥7,712,728.99 from ¥2,100,889.37, reflecting a buildup of stock[18] - The net cash flow from operating activities decreased by 74.96% to ¥11,676,071.56 compared to ¥46,638,111.92 in the previous period, primarily due to reduced sales from subsidiaries affected by the pandemic[15] - The cash inflow from sales of goods and services in Q1 2020 was CNY 121,363,075.57, down from CNY 259,030,743.79 in Q1 2019, representing a decline of approximately 53.25%[34] - The company’s cash and cash equivalents at the end of Q1 2020 amounted to CNY 862,957,982.94, an increase from CNY 802,025,178.78 at the end of Q1 2019[35] Tax and Subsidies - The company received a government subsidy of 26,250.00 RMB related to its normal business operations[5] - The income tax expense for the period was ¥33,311.57, a significant change from a tax benefit of -¥56,457.80 in the previous period[13] - Tax expenses for Q1 2020 were ¥33,311.57, compared to a tax benefit of -¥56,457.80 in Q1 2019[28] - The company paid CNY 5,079,871.68 in taxes during Q1 2020, a decrease from CNY 17,609,592.45 in Q1 2019, indicating a reduction of about 71.16%[34] Shareholder Information - The company’s major shareholder, Jizhong Energy Group, holds 20.00% of the shares, while Jizhong Energy Pingfeng Group holds 19.99%[9] Accounting and Reporting - The company did not report any significant new strategies or product developments during the quarter[15] - The company did not apply the new revenue and lease accounting standards for the year 2020[39] - There were no retrospective adjustments made to prior comparative data due to the new accounting standards[39] - The audit report was not applicable for this period[39]