SG(SH:600734)2020-06-28 16:00Financial Performance - Operating revenue for the first quarter was CNY 126,381,655.10, a decline of 65.41% year-on-year[12] - Net profit attributable to shareholders of the listed company was CNY -62,920,986.68, representing a decrease of 78.57% compared to the same period last year[12] - Basic earnings per share were CNY -0.1011, down 78.94% from CNY -0.0565 in the previous year[12] - The company reported a net loss of CNY 10,030,784.83 for the current quarter, compared to a net loss of CNY 5,470,917.95 in the same quarter last year, indicating an increase in losses of approximately 83.5%[50] - Operating profit for the current quarter was CNY -10,030,120.06, which is a decline from CNY -5,470,917.95 year-over-year[50] - Net loss for Q1 2020 was ¥63,111,250.11, compared to a net loss of ¥35,236,606.02 in Q1 2019, representing an increase in loss of 79.3%[46] - The company reported a total comprehensive loss of ¥81,079,679.99 for Q1 2020, compared to a loss of ¥35,049,574.31 in Q1 2019[46] Cash Flow - Net cash flow from operating activities was CNY -96,115,518.71, a decline of 104.71% year-on-year[12] - Cash flow from operating activities showed a net outflow of CNY -96,115,518.71, worsening from a net outflow of CNY -46,951,175.31 in the previous year[52] - Total cash inflow from operating activities was CNY 292,315,300.02, down significantly from CNY 1,082,353,783.82 in the same quarter last year[52] - The net cash flow from operating activities was -5,460,935.64, compared to 7,358,569.45 in the previous period[57] - The net cash flow from investing activities was -29,305.00, indicating a decrease in investment cash flow[57] - The cash inflow from financing activities was 3,849,934.84, while the cash outflow was 1,044,166.81, resulting in a net cash flow of 2,805,768.03[57] Assets and Liabilities - Total assets decreased by 6.65% to CNY 2,443,979,058.06 compared to the end of the previous year[12] - Total liabilities decreased from ¥3,086,518,351.96 to ¥2,993,403,263.14, indicating a decline of approximately 3%[34] - Current liabilities decreased from ¥3,009,071,180.72 to ¥2,917,643,797.28, a reduction of about 3.7%[32] - The total equity attributable to shareholders decreased from -¥468,255,418.78 to -¥549,144,835.34, reflecting a decline of approximately 17.3%[34] - The company reported total assets of ¥3,416,380,101.28, with current assets totaling ¥1,155,660,698.25[67] - The company has a total of ¥31,188,128.60 in other non-current assets, contributing to its asset base[67] Shareholder Information - The company reported a total of 58,377 shareholders at the end of the reporting period[15] - The largest shareholder, Beijing Angzhan Technology Development Co., Ltd., held 36.71% of the shares[15] Government Support and Other Income - The company received government subsidies amounting to CNY 3,162,486.83 during the quarter[14] - The company reported a total of CNY 5,825,639.42 in other income and expenses during the quarter[14] Research and Development - Research and development expenses decreased by 41.52% to ¥20,760,388.73 from ¥35,499,016.50, indicating reduced investment in R&D[20] - Research and development expenses for Q1 2020 were ¥20,760,388.73, down 41.7% from ¥35,499,016.50 in Q1 2019[44] Financing Activities - The company raised CNY 5,990,000.00 from financing activities, a decrease from CNY 247,553,969.97 in the same quarter last year, indicating reduced financing activity[55] - The company’s cash flow from financing activities included 99,000,000.00 in borrowed funds, indicating reliance on debt financing[57] Market Conditions and Future Outlook - The company anticipates continued losses in the first half of 2020, primarily due to reduced orders and revenue from its subsidiary Shenzhen Xingfei[24] - The company is pursuing a private placement of shares to improve liquidity, which may require adjustments due to market conditions[24] - The company plans to focus on cost reduction strategies and potential market expansion in future quarters[44]