NBMC(SH:600798)2020-04-29 16:00Financial Performance - Operating revenue for the first quarter was CNY 379,358,578.85, a decrease of 26.49% year-on-year[7] - Net profit attributable to shareholders was a loss of CNY 30,299,823.52, compared to a profit of CNY 33,850,803.45 in the same period last year[7] - The company's operating revenue decreased by 26.49% year-on-year, with waterway cargo transportation revenue down 15.43% to 352.89 million RMB, primarily due to the impact of COVID-19 on demand for bulk commodities[15] - The company's net profit for the reporting period was -44.82 million RMB, a decrease of 10.27 million RMB compared to the previous year, with a significant decline attributed to lower shipping rates and reduced vessel turnover[15] - The company expects a cumulative net profit attributable to shareholders to decline by 90%-110% compared to the same period last year, due to the ongoing impact of COVID-19[20] - Total operating revenue for Q1 2020 was CNY 183,075,216.50, a decrease from CNY 217,242,024.92 in Q1 2019, representing a decline of approximately 15.7%[35] - Net profit for Q1 2020 was CNY -44,824,490.10, compared to a net profit of CNY 57,838,232.54 in Q1 2019, indicating a significant loss shift[34] - Operating profit for Q1 2020 was CNY -34,117,616.42, down from CNY 76,253,398.86 in Q1 2019, reflecting a decrease of over 144.8%[33] - The company reported a basic and diluted earnings per share of CNY -0.0251 for Q1 2020, compared to CNY 0.0281 in Q1 2019[34] - Total comprehensive income for Q1 2020 was CNY -44,789,521.37, compared to CNY 57,432,544.96 in Q1 2019, marking a substantial decline[34] Cash Flow and Investments - The net cash flow from operating activities increased by 31.26% to CNY 164,381,629.33 compared to the same period last year[7] - The net cash flow from operating activities increased by 39.15 million RMB year-on-year, attributed to better collection of receivables[19] - Cash received from sales of goods and services in Q1 2020 was CNY 551,395,838.61, an increase from CNY 521,453,155.33 in Q1 2019, showing a growth of approximately 5.7%[38] - Operating cash inflow for Q1 2020 was CNY 586,150,756.34, an increase from CNY 549,018,704.26 in Q1 2019, representing a growth of approximately 6.2%[39] - Net cash outflow from investing activities was CNY -14,655,655.61, an improvement compared to CNY -32,482,463.49 in the previous year, indicating a reduction in investment losses[40] - Net cash flow from financing activities was CNY 871,556.63, a significant recovery from CNY -109,696,367.47 in Q1 2019, showing a positive shift in financing operations[40] - The net increase in cash and cash equivalents for Q1 2020 was CNY 151,353,545.98, contrasting with a decrease of CNY -17,279,570.76 in the same period last year[40] - Total cash and cash equivalents at the end of Q1 2020 reached CNY 907,289,872.70, up from CNY 577,832,554.07 at the end of Q1 2019, marking an increase of approximately 57%[40] Assets and Liabilities - Total assets decreased by 0.98% to CNY 7,214,872,690.96 compared to the end of the previous year[7] - Non-current assets totaled CNY 6,046,353,779.57, down from CNY 6,130,592,033.98, reflecting a decrease of approximately 1.4%[25] - Current liabilities decreased to CNY 761,963,835.96 from CNY 787,872,655.08, representing a reduction of about 3.3%[25] - Total liabilities were CNY 2,524,099,202.43, down from CNY 2,552,915,058.20, indicating a decrease of approximately 1.1%[26] - Shareholders' equity totaled CNY 4,690,773,488.53, a decrease of 0.9% from CNY 4,733,371,128.40[26] - Total liabilities reached CNY 2,552,915,058.20, with current liabilities at CNY 787,872,655.08 and non-current liabilities at CNY 1,765,042,403.12[46] - The total liabilities to total assets ratio stands at approximately 35%, indicating a moderate level of financial leverage[46] Shareholder Information - The number of shareholders at the end of the reporting period was 73,602[10] - The first major shareholder, Ningbo Shipping Group Co., Ltd., held 31.11% of the shares[10] Expenses and Costs - Management expenses increased by 42.92% year-on-year, primarily due to higher budgeted expenses[16] - The cost of waterway cargo transportation decreased by 5.79% year-on-year, while the cost of toll road operations increased by 41.84%[16] - Other income increased by 26.54 million RMB, mainly due to government subsidies received by a subsidiary[16] - Management expenses increased to CNY 17,103,611.82 in Q1 2020 from CNY 9,962,960.65 in Q1 2019, representing a rise of about 71.1%[35] - Tax expenses decreased to CNY 2,826,211.47 in Q1 2020 from CNY 3,414,213.80 in Q1 2019, a reduction of approximately 17.1%[33] Revenue Recognition - The company implemented the new revenue recognition standards without significant impact on revenue recognition and measurement[47] - The company has adopted the new revenue recognition standards effective January 1, 2020, with no significant impact on revenue recognition and measurement[51]