CHINA HI-TECH(SH:600730)2020-04-27 16:00Financial Performance - Operating revenue for the period was CNY 24,284,887.42, representing a decrease of 23.38% year-on-year [13]. - Net profit attributable to shareholders was CNY 9,112,078.00, down 14.82% from the previous year [5]. - The company's operating income decreased by 23.38% compared to the previous period, primarily due to the impact of the pandemic, which led to rent reductions and a decline in education revenue due to exam postponements [16]. - The profit attributable to shareholders of the parent company was ¥9,112,078.00, a decrease of 15% from ¥10,697,852.07 in the same period last year [35]. - Net profit for Q1 2020 was ¥13,209,670.22, down 22.5% from ¥16,948,239.28 in Q1 2019 [35]. - The total comprehensive income for Q1 2020 was ¥13,154,713.74, down from ¥16,993,069.67 in Q1 2019 [36]. Cash Flow - The net cash flow from operating activities was CNY -13,247,989.18, compared to CNY -3,226,474.54 in the same period last year, indicating a significant decline [5]. - The net cash flow from operating activities decreased by approximately 10 million yuan compared to the previous period, mainly due to 17.1847 million yuan of funds frozen by the bank due to pending litigation [19]. - Operating cash inflow for Q1 2020 was CNY 26,202,678.73, down 22.6% from CNY 33,846,883.73 in Q1 2019 [43]. - The company reported a net cash flow from operating activities of -CNY 163,632,413.21 in Q1 2020, worsening from -CNY 8,852,485.46 in Q1 2019 [47]. - Cash inflow from investment activities was CNY 430,193,837.65 in Q1 2020, down from CNY 758,756,571.48 in Q1 2019 [47]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,236,306,419.62, an increase of 0.45% compared to the end of the previous year [5]. - The total liabilities amounted to ¥278,655,843.97, a decrease from ¥281,756,204.72, representing a decline of approximately 1.1% [28]. - Owner's equity reached ¥1,957,650,575.65, up from ¥1,944,495,861.91, showing an increase of about 0.7% [28]. - Non-current liabilities totaled ¥201,419,983.31, slightly down from ¥202,837,838.19, indicating a decrease of about 0.7% [28]. - The company's total current assets were reported at ¥917,711,002.97, slightly down from ¥919,265,863.11, a decrease of about 0.2% [31]. Shareholder Information - The number of shareholders at the end of the reporting period was 59,702 [8]. - The largest shareholder, Beida Jade Bird Universal Sci-Tech Co., Ltd., held 20.03% of the shares, with 30,482,984 shares frozen [9]. Investment and Expenses - Investment income increased by 21.23% compared to the previous period, driven by higher financial investment returns [16]. - The company reported a significant decrease in financial expenses by 103.12%, attributed to the repayment of an 800 million yuan corporate bond in May 2019, resulting in a substantial reduction in interest expenses [16]. - Research and development expenses were ¥4,319,078.69, slightly up from ¥4,083,505.31, indicating a focus on innovation [34]. Changes in Financial Reporting - The company implemented new revenue recognition standards effective January 1, 2020, impacting the reporting of contract assets and liabilities [54]. - The company adopted new revenue recognition standards starting January 1, 2020, which are not expected to significantly impact net profit, total assets, or net assets [60].