AVICHM(SH:600765)2020-04-29 16:00Financial Performance - Operating revenue for the first quarter reached CNY 1.33 billion, a year-on-year increase of 10.68%[4] - Net profit attributable to shareholders was CNY 40.06 million, representing a 35.83% increase from the same period last year[4] - The total profit for Q1 2020 was ¥78.39 million, representing a 46.65% increase from ¥53.46 million in Q1 2019, driven by revenue growth[10] - Net profit for Q1 2020 reached ¥60,252,085.48, compared to ¥37,576,145.36 in Q1 2019, representing a growth of 60.2%[19] - The company reported a total profit of ¥78,391,028.19 for Q1 2020, compared to ¥53,456,031.39 in Q1 2019, an increase of 46.6%[19] Cash Flow - The net cash flow from operating activities was negative at CNY -81.76 million, worsening from CNY -33.98 million in the previous year[4] - Cash received from operating activities increased by 89.31% to ¥59.06 million in Q1 2020 from ¥31.20 million in Q1 2019, mainly due to increased receivables[12] - The net cash flow from operating activities was -81,757,346.93 RMB in Q1 2020, compared to -33,976,812.09 RMB in Q1 2019, indicating a decline in cash flow performance[23] - The total cash inflow from investment activities was 76,915,844.92 RMB, significantly higher than 5,587,604.27 RMB in the same period last year, indicating a year-over-year increase of approximately 1,275%[25] - The net cash flow from investment activities was -240,411,095.82 RMB, contrasting with a positive cash flow of 5,587,604.27 RMB in Q1 2019, reflecting a substantial decline[25] Assets and Liabilities - Total assets increased by 2.16% to CNY 14.69 billion compared to the end of the previous year[4] - The company's total assets as of March 31, 2020, amounted to ¥10.41 billion, an increase from ¥10.10 billion as of December 31, 2019, indicating growth in asset base[13] - Current liabilities rose to ¥7,425,814,493.53, up from ¥6,106,297,548.30, indicating an increase of 21.59%[14] - Total liabilities increased to ¥8,141,110,533.89 compared to ¥7,856,652,194.83, reflecting a growth of 3.63%[15] - Owner's equity totaled ¥6,549,902,922.25, up from ¥6,523,364,489.11, showing an increase of 0.41%[15] Shareholder Information - The total number of shareholders at the end of the reporting period was 55,641[7] - The largest shareholder, Guizhou Jinjian Aviation Hydraulic Co., Ltd., held 24.57% of the shares[7] Research and Development - R&D expenses for Q1 2020 rose by 55.00% to ¥43.05 million compared to ¥27.78 million in Q1 2019, reflecting increased investment in research and development[10] - The company's R&D expenses increased to ¥43,054,239.15 in Q1 2020, up from ¥27,777,003.46 in Q1 2019, marking a rise of 55.1%[18] Financial Position - The company's long-term borrowings decreased by 81.93% to ¥235.41 million as of March 31, 2020, down from ¥1.30 billion as of December 31, 2019, due to reclassification of long-term loans[9] - Non-current liabilities decreased to ¥715,296,040.36 from ¥1,750,354,646.53, a decline of 59.00%[15] - Cash and cash equivalents decreased to ¥1,115,253,375.48 from ¥1,400,985,121.93, a decline of 20.41%[15] Other Financial Metrics - The company recorded a credit impairment loss of ¥57.18 million in Q1 2020, which is an increase compared to ¥33.76 million in Q1 2019, indicating a rise in bad debt provisions[10] - The company reported a significant increase in minority shareholders' profit by 149.86% to ¥20.19 million in Q1 2020, up from ¥8.08 million in Q1 2019, due to increased net profit from non-wholly-owned subsidiaries[11] - The company experienced a significant increase in financial expenses, totaling ¥25,136,252.90 in Q1 2020, compared to ¥39,050,484.61 in Q1 2019, a decrease of 35.5%[18] - Other comprehensive income after tax was reported at -¥43,300,000.00 for Q1 2020, indicating a negative impact on equity[19]