DHCT(SH:600844)2019-04-25 16:00Financial Performance - Net profit attributable to shareholders was CNY -66,814,436.01, a decrease of 1,152.99% year-on-year[8] - Operating revenue fell by 27.80% to CNY 260,475,442.30 compared to the same period last year[8] - Net loss for Q1 2019 was CNY 86,026,957.08, compared to a net profit of CNY 9,503,754.43 in Q1 2018, indicating a significant decline in profitability[30] - Basic earnings per share were CNY -0.0657, a decrease of 1,159.68% compared to the previous year[8] - Basic and diluted earnings per share for Q1 2019 were both CNY -0.0657, compared to CNY 0.0062 in Q1 2018[31] Cash Flow - Net cash flow from operating activities decreased by 48.83% to CNY 95,928,728.40[8] - The net cash flow from operating activities decreased by 48.83% to ¥95,928,728.40 compared to ¥187,476,185.29 in the same period last year[18] - The net cash flow from investing activities decreased by 48.19% to -¥177,222,757.09, primarily due to the purchase of bank wealth management products by a subsidiary[18] - The net cash flow from financing activities increased by 161.06% to ¥95,861,337.54, attributed to reduced bank loan repayments by a subsidiary[18] - The net cash flow from operating activities in Q1 2019 was 95,928,728.40 RMB, a decrease of 48.9% compared to 187,476,185.29 RMB in Q1 2018[35] Assets and Liabilities - Total assets decreased by 0.70% to CNY 3,368,384,756.86 compared to the end of the previous year[8] - Total liabilities increased to ¥697,202,892.66 from ¥634,927,637.48 year-on-year[24] - The company's total equity decreased to ¥2,671,181,864.20 from ¥2,757,208,821.28[25] - Cash and cash equivalents increased to ¥233,772,513.32 from ¥219,205,204.47[22] - The company's total liabilities as of March 31, 2019, were CNY 185,415,506.81, up from CNY 182,951,772.13 at the end of 2018[28] Expenses - Research and development expenses increased by 39.98% to CNY 11,445,458.35 compared to the previous year[15] - Sales expenses rose by 90.78% to CNY 22,979,797.70 year-on-year[15] - The company incurred total operating expenses of 222,134,022.21 RMB in Q1 2019, down 29.2% from 313,540,610.77 RMB in Q1 2018[35] - The company’s management expenses increased to 1,302,574.09 RMB in Q1 2019 from 1,197,900.22 RMB in Q1 2018, representing an increase of 8.7%[33] - The company’s financial expenses decreased to 1,097,074.48 RMB in Q1 2019 from 1,337,000.64 RMB in Q1 2018, a reduction of 17.9%[33] Investment Activities - The company reported an investment loss of CNY -12,188,846.78 in Q1 2019, compared to a loss of CNY -315,803.70 in Q1 2018[30] - The company reported cash inflows from investment activities of 13,013,832.90 RMB in Q1 2019, compared to 19,452,902.05 RMB in Q1 2018, marking a decline of 33.1%[36] - The company reported a total investment loss of 117,683.04 RMB in Q1 2018, with no corresponding figure for Q1 2019, indicating a potential shift in investment strategy[33] Market Conditions - The average price of ethylene glycol in Q1 fell approximately 20% compared to Q4 of the previous year, while raw material lignite prices increased by about 10%, leading to operational losses[19] - The company terminated the acquisition of 100% equity in Chenzhou Fanlong Mining Co., Ltd. due to unfavorable changes in market conditions and financing environment[19] Financial Standards and Reporting - The company adopted new financial instrument standards starting January 1, 2019, affecting the classification and measurement of available-for-sale financial assets[47] - The company has adopted new financial instrument standards, which may impact future financial reporting and asset classification[43] - The company has not applied the new leasing standards retrospectively[48] - The audit report is not applicable for this period[49]