Guizhou Gas(SH:600903)2020-04-20 16:00Financial Performance - Net profit attributable to shareholders was CNY 24,999,335.53, representing a decline of 49.15% year-on-year[10]. - Operating revenue for the period was CNY 988,899,220.10, down 12.68% from the same period last year[10]. - Basic earnings per share were CNY 0.02, a decrease of 50.00% compared to CNY 0.04 in the previous year[10]. - Net profit fell by 50.40% from CNY 40,756,213.43 to CNY 20,215,518.47, primarily due to a decrease in the sales margin of natural gas[21]. - The total profit for Q1 2020 was CNY 26,572,186.98, down 47.5% from CNY 50,525,933.93 in Q1 2019[46]. - The company reported a significant decrease in comprehensive income, with a total of CNY -119,218,571.51 in Q1 2020 compared to CNY 302,243,912.16 in Q1 2019[48]. - The total profit for Q1 2020 was CNY 13,657,125.40, down from CNY 36,723,027.21 in the same period last year, indicating a decrease of about 62.8%[50]. - Operating profit for Q1 2020 was CNY 12,728,369.98, compared to CNY 36,007,596.98 in Q1 2019, reflecting a decline of approximately 64.6%[50]. Cash Flow - The net cash flow from operating activities was negative CNY 127,291,145.82, compared to a positive cash flow of CNY 9,709,869.75 in the previous year[10]. - Cash flow from operating activities showed a significant decline, with a net outflow of CNY 127,291,145.82 compared to a net inflow of CNY 9,709,869.75 in the previous year[21]. - The total cash outflow from operating activities was CNY 1,082,711,414.80 in Q1 2020, compared to CNY 1,242,344,172.38 in Q1 2019, indicating a decrease of approximately 12.9%[54]. - The company reported a cash and cash equivalents net decrease of 237,665,306.96 RMB in Q1 2020[57]. - The total cash inflow from financing activities was 1,070,000,000.00 RMB, up from 849,700,000.00 RMB in the same period last year[57]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 8,925,444,993.78, a decrease of 2.91% compared to the end of the previous year[10]. - Total liabilities decreased to CNY 5,783,445,836.42 from CNY 5,935,795,503.84, a reduction of approximately 2.55%[39]. - Current assets totaled CNY 1,794,710,518.17, down from CNY 1,934,684,433.31, reflecting a decrease of about 7.25%[43]. - Total equity decreased to CNY 3,141,999,157.36 from CNY 3,257,517,342.53, a decline of about 3.55%[39]. - Long-term payables increased by 46.73% from CNY 472,338,997.31 to CNY 693,068,110.90, primarily due to financing lease loans received[18]. Shareholder Information - The total number of shareholders at the end of the reporting period was 70,166[15]. - The largest shareholder, Beijing Dongjia Investment Co., Ltd., held 44.50% of the shares, amounting to 506,461,840 shares[15]. Investment Activities - The company reported non-recurring gains and losses totaling CNY 3,228,086.03 for the period[12]. - The company reported a 135.20% increase in investment income, rising from CNY 4,330,904.05 to CNY 10,186,388.14, attributed to the increase in net profit from joint ventures[21]. - The company completed the acquisition of 100% equity in a gas company for CNY 7,100,000 and made additional capital contributions of CNY 5,200,000[24]. Financial Management - The company has fully provided for bad debts related to uncollected gas fees, reflecting a cautious approach to financial management[29]. - The company has fully provided for bad debt reserves against the receivable rental income based on prudence principles[30]. - The company plans to write off the investment in a subsidiary due to the ongoing liquidation process[26]. Changes in Accounting Standards - The company implemented the new revenue accounting standards starting January 1, 2020, which will affect the financial statements and retained earnings[70]. - The company did not apply the new leasing standards as of the reporting date[70]. - The adjustments for the cumulative impact of the new revenue standards will not alter the comparative information for prior periods[70].