HASCO(600741)2020-04-28 16:00Financial Performance - Operating revenue for the first quarter was CNY 23.97 billion, a decline of 32.60% year-on-year[4] - Net profit attributable to shareholders was CNY 134.69 million, down 92.70% compared to the same period last year[4] - Basic earnings per share decreased by 92.65% to CNY 0.043[4] - Total profit for Q1 2020 was 186 million yuan, a decrease of 92.82% compared to 2.60 billion yuan in Q1 2019[10] - The company anticipates a significant decline in cumulative net profit compared to the same period last year due to the impact of the COVID-19 pandemic on the automotive market[13] - The comprehensive income total for Q1 2020 was -¥415,004,491.05, compared to ¥2,702,853,723.48 in Q1 2019, indicating a significant decline[21] - The net profit for Q1 2020 was CNY 93,247,059.45, a significant decrease from CNY 529,119,415.18 in Q1 2019[23] - The total operating profit for Q1 2020 was CNY 93,247,059.45, a decrease from CNY 529,201,806.23 in Q1 2019[58] Cash Flow - Net cash flow from operating activities increased significantly by 980.34% to CNY 2.77 billion[4] - Net cash flow from operating activities for Q1 2020 was 2.77 billion yuan, an increase of 980.34% compared to 256 million yuan in the same period last year[11] - Cash inflow from operating activities in Q1 2020 was CNY 27,609,244.51, a decrease of 61.0% compared to CNY 70,690,954.10 in Q1 2019[27] - Net cash outflow from operating activities was CNY -60,518,680.63, compared to CNY -53,543,160.73 in the same period last year[27] - Cash inflow from investment activities totaled CNY 307,518,087.77, down 43.0% from CNY 540,113,408.00 in Q1 2019[27] - Investment activities resulted in a net cash outflow of CNY 836,988,506.19 in Q1 2020, an improvement from a net outflow of CNY 1,874,554,691.78 in Q1 2019[61] Assets and Liabilities - Total assets decreased by 5.14% from the end of the previous year to CNY 131.97 billion[4] - Total liabilities decreased from ¥80,425,897,714.82 to ¥73,738,907,898.10, a reduction of about ¥6,686,989,816.72 or 8.32%[17] - Current liabilities decreased from ¥69,868,622,616.88 to ¥62,820,257,993.05, a decrease of approximately ¥7,048,364,623.83 or 10.09%[17] - Total equity decreased from ¥58,701,534,414.54 to ¥58,235,202,394.45, a decline of approximately ¥466,332,020.09 or 0.79%[17] - Total current liabilities slightly decreased from ¥922.66 million to ¥915.89 million, a reduction of about 0.7%[54] Shareholder Information - The total number of shareholders at the end of the reporting period was 65,613[6] - The largest shareholder, Shanghai Automotive Group Co., Ltd., held 58.32% of the shares[6] - The company received government subsidies amounting to CNY 108.58 million, which are closely related to its normal business operations[5] Research and Development - Research and development expenses for Q1 2020 were ¥1,033,548,393.65, compared to ¥1,283,323,826.61 in Q1 2019, indicating a decrease of 19.5%[20] - Research and development expenses for Q1 2020 were CNY 18,192,966.68, slightly down from CNY 18,936,629.64 in Q1 2019[23] Investment Activities - The company plans to acquire 30% equity in a subsidiary for 379 million USD, aiming to hold 100% equity post-transaction[12] - Cash and cash equivalents at the end of Q1 2020 totaled CNY 35,081,745,528.12, up from CNY 29,914,435,989.15 at the end of Q1 2019[61] Financial Ratios - The weighted average return on net assets fell by 3.70 percentage points to 0.27%[4] - Tax payable decreased by 525 million yuan, a reduction of 51.94% compared to the beginning of the period, mainly due to a decrease in taxable income resulting from lower operating revenue[9]