LKPC(SH:600789)2020-04-29 16:00Financial Performance - The company reported a net profit attributable to shareholders of 6.04 million RMB, a decrease of 87.50% compared to the previous year, which was a reduction of 42.26 million RMB [15]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -4.55 million RMB, a decrease of 111.33% year-on-year [15]. - The company's net profit for Q1 2020 was CNY 7,492,362.99, a significant decrease from CNY 50,732,617.70 in Q1 2019, representing a decline of approximately 85.2% [49]. - The net profit for Q1 2020 was ¥65,534,794.43, down from ¥72,888,930.29 in Q1 2019, indicating a decrease of 10.1% [44]. - The total profit for Q1 2020 was CNY 10,367,468.76, down from CNY 56,003,388.98 in Q1 2019, reflecting a decrease of approximately 81.5% [49]. - Basic and diluted earnings per share were both 0.01 RMB, down 85.71% from the previous year [12]. - The company's basic and diluted earnings per share for Q1 2020 were both CNY 0.01, down from CNY 0.07 in Q1 2019, a decrease of 85.7% [49]. Revenue and Costs - The operating revenue for the first quarter was 960.05 million RMB, representing a year-on-year increase of 2.45% [12]. - Total operating revenue for Q1 2020 was ¥960,049,128.01, an increase of 2.0% compared to ¥937,091,064.09 in Q1 2019 [44]. - Total operating costs for Q1 2020 were ¥954,981,063.65, up from ¥887,076,717.88 in Q1 2019, reflecting a significant increase of 7.6% [44]. - The company's operating costs for Q1 2020 were CNY 335,182,257.27, reduced from CNY 394,098,557.23 in Q1 2019, indicating a decrease of about 14.9% [49]. Cash Flow - The net cash flow from operating activities was -79.19 million RMB, a significant decline of 311.80% compared to the previous year [12]. - The net cash flow from operating activities was -79,185,003.48 RMB, a decrease from 37,385,987.66 RMB in the previous period, indicating a significant decline in operational performance [55]. - Cash inflow from operating activities was 1,086,955,111.43 RMB, slightly down from 1,139,129,941.74 RMB, suggesting a decline in revenue generation [55]. - Cash outflow for investing activities was 124,881,008.01 RMB, compared to 227,059,401.36 RMB previously, showing a reduction in investment expenditures [55]. - The total cash and cash equivalents at the end of the period amounted to 624,975,826.82 RMB, down from 676,886,638.18 RMB, indicating a decrease in liquidity [57]. Assets and Liabilities - Total assets at the end of the reporting period were 7.33 billion RMB, an increase of 3.39% from the end of the previous year [12]. - Total current assets amounted to ¥2,741,721,680.00, an increase from ¥2,585,118,402.03 [29]. - Total liabilities increased to ¥4,150,289,239.99 from ¥3,917,627,675.83 [35]. - Total equity reached ¥3,179,132,926.00, up from ¥3,171,640,563.01 [35]. - Current liabilities totaled ¥3,201,220,573.52, including short-term borrowings of ¥1,057,000,000.00 and accounts payable of ¥715,306,434.00 [65]. - Total liabilities reached ¥3,917,627,675.83, with non-current liabilities at ¥716,407,102.31, including long-term borrowings of ¥97,697,364.05 [65]. Shareholder Information - The company’s major shareholder, Hualu Holdings Group, holds 21.12% of the shares, making it the direct controlling shareholder [23]. - Shareholders' equity totaled ¥3,171,640,563.01, with total equity attributable to the parent company at ¥3,021,159,128.79 [67]. Operational Challenges - The company faced significant impacts on its product procurement, production, and sales due to the COVID-19 pandemic, leading to reduced gross profit [15]. - The market price of veterinary medicine products declined due to the ongoing African swine fever epidemic, adversely affecting profits [15]. Other Financial Metrics - Financial expenses decreased by 45.53% to ¥11,891,900.54 mainly due to an increase in exchange gains [25]. - Other income surged by 617.25% to ¥10,808,245.94 primarily from increased government subsidies received [25]. - Investment income dropped by 87.84% to ¥819,362.55 mainly due to the maturity of structured deposits [25]. - Research and development expenses for Q1 2020 amounted to ¥35,621,421.06, compared to ¥32,654,094.66 in Q1 2019, indicating a growth of 9.0% [44]. - The company reported a significant increase in operating expenses due to pandemic-related donations, rising by 1,686,342.81% to ¥3,659,243.61 [25].