ECC(SH:600850)2020-04-20 16:00Financial Performance - Operating revenue fell by 19.25% to CNY 1,325,790,812.17 year-on-year[11] - Net profit attributable to shareholders decreased by 19.00% to CNY 63,953,348.85 compared to the same period last year[11] - Basic earnings per share decreased by 19.51% to CNY 0.1498[11] - The weighted average return on equity decreased by 0.83 percentage points to 2.47%[11] - Total operating revenue for Q1 2020 was ¥1,325,790,812.17, a decrease of 19.2% compared to ¥1,641,831,109.34 in Q1 2019[42] - Net profit for Q1 2020 was ¥54,491,742.93, a decline of 28.9% from ¥76,621,472.87 in Q1 2019[44] - The net profit attributable to shareholders of the parent company for Q1 2020 was ¥63,953,348.85, compared to ¥78,955,229.65 in Q1 2019, representing a decrease of 19.0%[44] - Total comprehensive income for Q1 2020 was a loss of RMB 9,125,810.27, compared to a loss of RMB 5,292,328.58 in Q1 2019[50] Cash Flow and Liquidity - Net cash flow from operating activities worsened by 88.69%, resulting in a negative CNY 768,814,009.67[11] - Cash and cash equivalents at the end of the period amounted to ¥1,239,522,848.22, a decrease of 38.65% compared to the beginning of the period, primarily due to loan repayments and procurement payments[19] - Cash inflow from operating activities was 175,988,376.41 RMB, down from 384,362,375.83 RMB year-over-year[55] - Cash outflow for purchasing goods and services was 305,225,682.20 RMB, compared to 347,824,539.16 RMB in the previous year[55] - The company reported a net increase in cash and cash equivalents of -196,277,490.36 RMB compared to -63,498,785.30 RMB in the previous year[57] Assets and Liabilities - Total assets decreased by 5.69% to CNY 6,593,835,774.55 compared to the end of the previous year[11] - Total liabilities for notes payable decreased by 64.10% to ¥82,793,254.88, primarily due to a reduction in outstanding notes payable[19] - Current liabilities decreased from ¥4,257,026,296.91 to ¥3,798,596,962.71, a reduction of about 10.8%[31] - Total liabilities decreased from ¥4,258,517,963.58 to ¥3,800,063,629.39, a reduction of about 10.8%[33] - Total current assets decreased to 6,816,331,247.82 RMB from 7,084,742,126.20 RMB[59] Shareholder Information - The top two shareholders hold a combined 42.15% of the shares, with China Electronics Technology Group Corporation holding 24.20%[15] - Owner's equity increased from ¥2,733,239,514.09 to ¥2,793,772,145.16, reflecting a growth of approximately 2.2%[33] - The total equity attributable to shareholders was approximately ¥2.56 billion, down by ¥2.19 million from the previous period[62] Research and Development - Research and development expenses for Q1 2020 increased to ¥68,604,455.01, up from ¥56,547,257.40 in Q1 2019, reflecting a growth of 21.5%[42] - Development expenditures at the end of the period reached ¥4,337,106.63, an increase of 105.70% compared to the beginning of the period, attributed to ongoing research and development projects[19] Legal Matters - The company is currently involved in a lawsuit regarding the repurchase of shares held in Shanghai Jiaoxiang Technology Co., Ltd., which is still pending court hearing[24] Financial Reporting - The report indicates that the financial statements have not been audited[10] - The company has not disclosed any new product developments or market expansion strategies in this report[11] - The company will implement the new revenue recognition standards starting January 1, 2018, for companies listed both domestically and internationally[72] - The company is not required to retrospectively adjust prior comparative data under the new revenue standards[73] - The new revenue standards will not affect the reported financial information for prior periods[72]