JINGCHENG MAC(SH:600860)2020-04-29 16:00Financial Performance - Operating income for the period was CNY 192,963,906.69, down 23.14% year-on-year[12] - The net profit attributable to shareholders of the listed company was a loss of CNY 25,633,092.04, compared to a loss of CNY 22,586,691.70 in the same period last year[12] - The weighted average return on net assets decreased by 2.93 percentage points to -7.89%[12] - Basic and diluted earnings per share were both CNY -0.06, compared to CNY -0.05 in the previous year[12] - The company reported a net loss of ¥37,776,160.64 for the current quarter, compared to a net loss of ¥30,308,926.81 in the same quarter last year, representing an increase in loss of approximately 24.4%[45] - Operating profit was recorded at -¥37,925,608.12, worsening from -¥30,732,499.62 year-over-year, indicating a decline of about 23.5%[45] - The total comprehensive loss for the quarter was -¥37,623,160.31, compared to -¥30,308,926.81 in the same quarter last year, indicating a worsening of approximately 24.1%[47] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,646,520,604.19, a decrease of 1.46% compared to the end of the previous year[12] - The company’s total current assets decreased to ¥763,842,820.88 from ¥782,560,780.66[30] - The company’s total liabilities increased significantly, with notes payable reaching ¥14,000,000.00, a 100% increase due to increased bank acceptance bills issued by subsidiaries[21] - The total assets decreased to ¥1,086,703,014.88 in Q1 2020 from ¥1,087,886,732.42 in Q4 2019[39] - The total liabilities increased to ¥1,005,750,421.36 in Q1 2020 from ¥970,214,249.29 in Q4 2019[35] - The total equity attributable to shareholders decreased to ¥312,726,731.82 in Q1 2020 from ¥337,286,095.32 in Q4 2019[35] Cash Flow - Net cash flow from operating activities increased by 47.48% to CNY 14,456,622.77 compared to the same period last year[12] - Cash inflow from operating activities for Q1 2020 was CNY 221,537,399.48, a decrease of 10.5% compared to CNY 247,639,702.66 in Q1 2019[56] - Net cash flow from operating activities increased to CNY 14,456,622.77 in Q1 2020, up from CNY 9,802,114.94 in Q1 2019, representing a growth of 47.3%[56] - Total cash outflow from operating activities decreased to CNY 207,080,776.71 in Q1 2020, down 13.0% from CNY 237,837,587.72 in Q1 2019[56] - The net increase in cash and cash equivalents for Q1 2020 was CNY -13,357,127.95, contrasting with an increase of CNY 5,122,307.04 in Q1 2019[58] - The ending balance of cash and cash equivalents for Q1 2020 was CNY 65,530,114.30, compared to CNY 51,784,428.38 in Q1 2019, reflecting a year-over-year increase of 26.6%[58] Shareholder Information - The total number of shareholders at the end of the reporting period was 17,454[18] - The largest shareholder, Beijing Jingcheng Machinery Electric Holding Co., Ltd., held 43.30% of the shares[18] Research and Development - Research and development expenses increased by 42.81% to ¥332,251.77 from ¥232,659.27 reflecting higher investment in R&D[21] - The company plans to continue enhancing its R&D efforts and expanding its market presence as part of its strategic initiatives[24] - The company plans to focus on enhancing its research and development capabilities to drive future growth and innovation[45] Government Support - Government subsidies recognized in the current period amounted to CNY 684,621.76[16] Other Financial Metrics - The company reported an investment loss of -¥3,804,035.70, a significant increase from -¥22,350.73, indicating a deterioration in investment performance[45] - The company’s financial expenses included interest expenses of ¥3,838,556.72, slightly up from ¥3,778,040.89, reflecting a marginal increase in borrowing costs[45] - The company reported a 31.39% decrease in taxes and surcharges to ¥1,176,994.93 from ¥1,715,548.86 due to a reduction in turnover tax[21] - Payments to employees decreased to CNY 42,636,541.13 in Q1 2020, down 22.2% from CNY 54,860,161.45 in Q1 2019[56]