SMC(SH:600823)2020-04-28 16:00Financial Performance - Operating revenue for the first quarter was ¥2.81 billion, a decrease of 11.91% year-on-year[5] - Net profit attributable to shareholders was ¥214.81 million, down 18.04% from the same period last year[5] - Basic earnings per share decreased by 14.29% to ¥0.06[5] - The company reported non-recurring gains and losses totaling ¥5.15 million for the period[7] - The company reported a significant reduction in financing cash flow, which decreased by 73.41% to approximately ¥637 million, down from ¥2.40 billion in Q1 2019, mainly due to loan repayments[14] - Operating profit for Q1 2020 increased to CNY 653,562,632.32, compared to CNY 484,567,605.54 in Q1 2019, representing a growth of about 35%[25] - Net profit for Q1 2020 was CNY 487,291,514.05, up from CNY 354,812,469.67 in Q1 2019, indicating a rise of approximately 37%[25] - Total comprehensive income for Q1 2020 was ¥76.15 million, down from ¥96.84 million in Q1 2019, reflecting a decrease of about 21.4%[29] Assets and Liabilities - Total assets at the end of the reporting period reached ¥130.34 billion, an increase of 2.18% compared to the end of the previous year[5] - Total liabilities reached CNY 82.14 billion, compared to CNY 79.36 billion, marking an increase of around 3.5%[19] - Current liabilities were CNY 59.83 billion, down from CNY 62.61 billion, showing a decrease of about 4.5%[19] - Long-term borrowings rose to CNY 9.69 billion, up from CNY 5.70 billion, representing an increase of approximately 70.5%[19] - The total amount of accounts payable increased by 10.99% to approximately ¥14.15 billion, up from ¥12.75 billion, attributed to increased construction payments[14] - The total liabilities as of Q1 2020 amounted to CNY 31,269,949,889.24, compared to CNY 30,064,514,562.30 in the previous year, showing an increase of about 4%[23] Cash Flow - Net cash flow from operating activities improved significantly, with a net outflow of ¥793.55 million, a 69.43% reduction compared to the previous year[5] - Cash inflows from operating activities totaled ¥3.71 billion in Q1 2020, a decrease of 2.4% from ¥3.80 billion in Q1 2019[32] - Cash outflows from operating activities were ¥4.50 billion in Q1 2020, down from ¥6.40 billion in Q1 2019, showing a reduction of approximately 29.8%[32] - The net cash flow from operating activities was -¥793.55 million in Q1 2020, an improvement from -¥2.60 billion in Q1 2019[32] - Cash inflows from financing activities reached ¥9.40 billion in Q1 2020, compared to ¥5.00 billion in Q1 2019, marking an increase of 88.8%[33] Shareholder Information - The total number of shareholders at the end of the reporting period was 51,696[10] - The largest shareholder, Peak Win International Limited, held 1.64 billion shares, accounting for 43.73% of total shares[10] - The second-largest shareholder, Tibet Shimao Enterprise Development Co., Ltd., held 704.22 million shares, representing 18.77% of total shares, with 195 million shares pledged[10] - The third-largest shareholder, Shanghai Shimao Investment Management Co., Ltd., increased its stake by acquiring 110,577,997 shares, representing 2.95% of the total share capital[14] Investments and Expenses - The company’s long-term equity investments rose by 60.72% to approximately ¥1.59 billion, compared to ¥991.71 million at the end of 2019, due to new joint ventures[14] - The company’s financial expenses increased by 5.62% to approximately ¥61.60 million, compared to ¥58.33 million in the previous year, due to an increase in financing scale[14] - The company reported a decrease in sales expenses to CNY 89,296,345.62 in Q1 2020 from CNY 122,607,648.32 in Q1 2019, a reduction of about 27%[25] Inventory and Receivables - Inventory increased to CNY 51.51 billion, up from CNY 48.69 billion, reflecting a growth of approximately 3.4%[18] - The company’s other receivables increased by 11.97% to approximately ¥3.78 billion, up from ¥3.38 billion, mainly due to increased related party transactions[14] - Accounts receivable decreased to CNY 2.52 billion from CNY 2.72 billion, a decline of about 7.3%[18]