NWF(SH:600975)2020-04-29 16:00Financial Performance - Net profit attributable to shareholders reached CNY 100,491,171.41, a significant recovery from a loss of CNY 29,446,589.75 in the same period last year[10] - Operating revenue for the quarter was CNY 426,528,313.85, reflecting an 8.41% increase year-on-year[10] - The total profit for the current period is 101,306,285.61 CNY, compared to a loss of 28,485,984.24 CNY in the previous period[42] - The net profit attributable to the parent company's shareholders is 100,491,171.41 CNY, while the previous period showed a loss of 29,446,589.75 CNY[42] - Basic and diluted earnings per share for the current period are both 0.15 CNY, compared to a loss of 0.05 CNY in the previous period[42] - Operating profit for Q1 2020 was $104.72 million, a significant recovery from a loss of $24.61 million in Q1 2019[40] - The company reported a net profit of $104.72 million for Q1 2020, a turnaround from a net loss in the same period last year[40] Cash Flow - The net cash flow from operating activities was CNY 44,238,217.93, a turnaround from a negative cash flow of CNY 107,639,918.62 in the previous year[10] - Cash inflow from operating activities reached 382,572,078.84 RMB, up from 274,004,954.51 RMB year-over-year[53] - Total cash inflow from financing activities amounted to 175,500,000.00 RMB, while cash outflow was 89,839,085.83 RMB, resulting in a net cash flow of 85,660,914.17 RMB[51] - The company reported a total cash and cash equivalents balance of 280,238,895.36 RMB at the end of the period, compared to 199,083,610.84 RMB in the previous year[53] - The cash inflow from sales of goods and services was 378,782,023.34 RMB, compared to 270,944,857.80 RMB in the same quarter last year[53] Assets and Liabilities - Total assets increased by 13.14% to CNY 1,847,451,689.66 compared to the end of the previous year[10] - The company's total liabilities amounted to $516.99 million, an increase of 28.2% from $403.29 million at the end of 2019[34] - Total liabilities amounted to $403,285,224.15, with non-current liabilities at $39,842,143.11[61] - Total equity reached $1,273,229,574.27, indicating a strong capital position[68] - The total assets of the company were reported at $1,576,670,598.28, reflecting overall financial health[68] Shareholder Information - The total number of shareholders at the end of the reporting period was 69,237[12] - The largest shareholder, Hunan Grain and Oil Food Import and Export Group Co., Ltd., holds 30.95% of the shares[12] Research and Development - Research and development expenses rose to $1.50 million in Q1 2020, compared to $461,364 in Q1 2019, showing a significant increase[40] - Research and development expenses for the current period are 1,504,657.93 CNY, significantly higher than 461,364.01 CNY in the previous period, indicating a focus on innovation[46] Inventory and Receivables - Accounts receivable rose by 40.27% to ¥33,463,241.51 from ¥23,855,677.29, primarily due to increased receivables from frozen meat[16] - Inventory levels increased to $426.58 million as of March 31, 2020, up from $373.30 million at the end of 2019, representing a rise of 14.3%[34] Cost Management - Total operating costs decreased to $323.60 million in Q1 2020 from $420.78 million in Q1 2019, representing a reduction of 23.1%[40] - The company reported a decrease in sales expenses to 1,646,051.13 CNY from 4,248,014.54 CNY in the previous period, reflecting improved cost management[46] Future Expectations - The company expects net profit attributable to shareholders for the period from January 1, 2020, to June 30, 2020, to be between ¥160 million and ¥240 million, driven by rising pig prices[20][21] Other Information - The company has not disclosed any new product developments or market expansion strategies in this report[15] - The company has not reported any net profit from the merged entity prior to the merger, indicating no impact on current earnings from acquisitions[42] - There were no significant mergers or acquisitions mentioned in the earnings call[69]