惠而浦(600983) - 2020 Q1 - 季度财报

Important Notice Guarantee of Content Authenticity, Accuracy, and Completeness Management guarantees the report's authenticity and completeness, assuming legal responsibility; the report is unaudited - Management guarantees the authenticity, accuracy, and completeness of the quarterly report content and assumes corresponding legal responsibilities[8] - The company's Q1 2020 report is unaudited[11] Company Basic Information Key Financial Data Q1 2020 saw significant performance decline, with revenue down 39.54% and net profit turning to a CNY 107 million loss Q1 2020 Key Financial Data | Indicator | Current Period | Prior Year Same Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (CNY) | 882,033,198.86 | 1,458,794,696.45 | -39.54% | | Net Profit Attributable to Shareholders (CNY) | -107,334,040.23 | -15,272,896.69 | -602.77% | | Net Profit Attributable to Shareholders (Excluding Non-recurring Items) (CNY) | -108,139,088.60 | -37,624,836.52 | -187.41% | | Net Cash Flow from Operating Activities (CNY) | -553,563,037.48 | -336,616,186.05 | -64.45% | | Basic Earnings Per Share (CNY/share) | -0.14 | -0.02 | -600.00% | | Weighted Average Return on Net Assets (%) | -2.87% | -0.37% | Decrease of 2.5 percentage points | | Indicator | End of Current Period | End of Prior Year | Period-end vs. Prior Year-end Change (%) | | Total Assets (CNY) | 7,012,701,596.55 | 7,582,845,817.74 | -7.52% | | Net Assets Attributable to Shareholders (CNY) | 3,731,566,908.18 | 3,754,626,617.79 | -0.61% | Q1 2020 Non-recurring Gains and Losses | Item | Current Period Amount (CNY) | Description | | :--- | :--- | :--- | | Gains/Losses on Disposal of Non-current Assets | -171,290.69 | | | Government Grants Included in Current P&L | 12,638,034.41 | | | Fair Value Changes in Trading Financial Assets/Liabilities | -11,955,864.45 | | | Other Non-operating Income/Expenses | -94,476.33 | | | Income Tax Impact | 388,645.42 | | | Total | 805,048.36 | | Shareholder Holding Information As of period-end, the company had 32,014 shareholders, with Whirlpool (China) Investment holding 51.00% - As of the end of the reporting period, the company had a total of 32,014 shareholders[14] Top Ten Shareholder Holdings | Shareholder Name | Number of Shares Held (shares) | Holding Percentage (%) | | :--- | :--- | :--- | | Whirlpool (China) Investment Co., Ltd. | 390,884,200 | 51.00 | | Hefei State-owned Assets Holding Co., Ltd. | 178,854,400 | 23.34 | | China Securities Finance Corporation Limited | 16,308,587 | 2.13 | | Dongguan Donglian Investment Co., Ltd. | 7,000,000 | 0.91 | | Central Huijin Asset Management Co., Ltd. | 6,090,300 | 0.79 | Preferred Shareholder Information The company had no preferred shareholders at the end of the reporting period - The company had no preferred shareholders during this reporting period[17] Significant Events Analysis of Significant Changes in Key Financial Statement Items and Indicators Multiple financial items changed significantly, including a 39% revenue drop and a 170% decrease in financial expenses Significant Financial Statement Item Changes and Reasons | Item | Change Rate (%) | Reason Explanation | | :--- | :--- | :--- | | Income Statement Items | | | | Operating Revenue | -39% | Revenue decline due to external environment | | Financial Expenses | -170% | Impact of interest rate changes and exchange gains/losses | | Fair Value Change Gains | -307% | Impact of hedging activities | | Asset Impairment Losses | -54.07% | Increased bad debt provisions due to sales decline | | Cash Flow Statement Items | | | | Net Cash Flow from Operating Activities | -64% | Decreased sales collections due to sales decline | | Net Cash Flow from Investing Activities | 133% | Increased proceeds from matured wealth management products | | Net Cash Flow from Financing Activities | 114% | Paid factoring receivables for export sales in 2019 | Performance Forecast and Risk Warning The company forecasts potential cumulative net loss due to deteriorating operating environment and market uncertainties - The company issued a performance warning, indicating that future net profit may continue to be a loss or experience significant changes due to deteriorating operating environment, insufficient market demand, intensified competition, and uncertainty in international orders[21] Appendix Financial Statements This appendix contains the company's unaudited consolidated and parent company financial statements for Q1 2020 Consolidated Balance Sheet As of March 31, 2020, consolidated total assets were CNY 7.01 billion, down 7.52%, with liabilities at CNY 3.28 billion Key Consolidated Balance Sheet Items (Unit: CNY) | Item | 2020-03-31 | 2019-12-31 | | :--- | :--- | :--- | | Assets | | | | Cash and Cash Equivalents | 1,095,057,155.26 | 1,519,440,032.55 | | Trading Financial Assets | 1,452,917,935.21 | 1,650,847,600.41 | | Accounts Receivable | 1,219,009,955.14 | 1,282,396,191.94 | | Inventories | 823,489,447.26 | 831,603,773.34 | | Total Assets | 7,012,701,596.55 | 7,582,845,817.74 | | Liabilities | | | | Short-term Borrowings | 20,000,000.00 | 10,000,000.00 | | Notes Payable | 1,348,860,709.23 | 1,506,655,892.55 | | Accounts Payable | 1,241,206,375.55 | 1,577,941,451.69 | | Total Liabilities | 3,281,134,688.37 | 3,828,219,199.95 | | Shareholders' Equity | | | | Total Equity Attributable to Parent Company Owners | 3,731,566,908.18 | 3,754,626,617.79 | | Total Shareholders' Equity | 3,731,566,908.18 | 3,754,626,617.79 | Parent Company Balance Sheet As of March 31, 2020, parent company total assets were CNY 6.01 billion, down 8.5%, with liabilities at CNY 2.53 billion Key Parent Company Balance Sheet Items (Unit: CNY) | Item | 2020-03-31 | 2019-12-31 | | :--- | :--- | :--- | | Total Assets | 6,009,707,627.89 | 6,568,070,722.22 | | Total Liabilities | 2,524,531,595.19 | 3,011,782,510.13 | | Total Shareholders' Equity | 3,485,176,032.70 | 3,556,288,212.09 | Consolidated Income Statement Q1 2020 operating revenue was CNY 882 million, down 39.5%, with net profit at a CNY 107 million loss Key Consolidated Income Statement Items (Unit: CNY) | Item | 2020 Q1 | 2019 Q1 | | :--- | :--- | :--- | | Total Operating Revenue | 882,033,198.86 | 1,458,794,696.45 | | Total Operating Costs | 995,787,809.66 | 1,492,912,106.61 | | Operating Profit | -124,711,833.24 | -14,095,900.90 | | Total Profit | -125,011,835.81 | -13,679,581.69 | | Net Profit | -107,334,040.23 | -15,272,896.69 | | Net Profit Attributable to Parent Company Shareholders | -107,334,040.23 | -15,272,896.69 | | Basic Earnings Per Share (CNY/share) | -0.14 | -0.02 | Parent Company Income Statement Q1 2020 parent company operating revenue was CNY 596 million, down 46%, with net profit at a CNY 129 million loss Key Parent Company Income Statement Items (Unit: CNY) | Item | 2020 Q1 | 2019 Q1 | | :--- | :--- | :--- | | Operating Revenue | 596,355,570.03 | 1,102,862,739.35 | | Operating Profit | -152,947,700.12 | -52,239,914.58 | | Total Profit | -153,079,198.00 | -51,560,833.14 | | Net Profit | -128,545,631.15 | -41,318,309.90 | Consolidated Cash Flow Statement Q1 2020 net cash flow from operating activities was -CNY 554 million, with investing activities turning positive Key Consolidated Cash Flow Statement Items (Unit: CNY) | Item | 2020 Q1 | 2019 Q1 | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -553,563,037.48 | -336,616,186.05 | | Net Cash Flow from Investing Activities | 122,001,371.74 | -365,289,482.99 | | Net Cash Flow from Financing Activities | 9,446,333.33 | -67,658,996.89 | | Net Increase in Cash and Cash Equivalents | -424,382,877.29 | -798,280,357.85 | | Cash and Cash Equivalents at Period-End | 1,095,057,155.26 | 1,732,075,799.28 | Parent Company Cash Flow Statement Q1 2020 parent company net cash flow from operating activities was -CNY 527 million, with investing activities positive Key Parent Company Cash Flow Statement Items (Unit: CNY) | Item | 2020 Q1 | 2019 Q1 | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -527,148,552.16 | -338,206,557.25 | | Net Cash Flow from Investing Activities | 133,359,490.03 | -358,810,175.95 | | Net Cash Flow from Financing Activities | 9,446,333.33 | -70,701,846.68 | | Net Increase in Cash and Cash Equivalents | -385,067,635.10 | -785,432,819.40 | | Cash and Cash Equivalents at Period-End | 322,853,120.85 | 930,684,721.67 |