SCMC(SH:600984)2020-04-29 16:00Financial Performance - Net profit attributable to shareholders was CNY -61,131,372.94, a decline of 379.06% year-on-year[7] - Operating revenue fell by 15.45% to CNY 461,157,935.32 compared to the same period last year[7] - The company reported a basic earnings per share of CNY -0.0738, a decrease of 378.49% year-on-year[7] - Total operating revenue for Q1 2020 was ¥461,157,935.32, a decrease of 15.4% compared to ¥545,451,503.24 in Q1 2019[30] - Net profit for Q1 2020 was a loss of ¥61,204,182.04, compared to a profit of ¥21,784,640.35 in Q1 2019, representing a significant decline[31] - The company reported a gross margin of -10.6% in Q1 2020, down from 5.9% in Q1 2019[31] - Operating profit for Q1 2020 was a loss of ¥49,085,167.70, compared to a profit of ¥32,227,922.14 in Q1 2019[31] - The total comprehensive income for Q1 2020 was a loss of ¥61,715,701.84, contrasting with a profit of ¥21,875,526.17 in Q1 2019[31] Cash Flow - Net cash flow from operating activities was CNY -129,848,484.13, a decrease of 284.01% year-on-year[7] - The company reported a net cash flow from operating activities of -129,848,484.13 RMB, a decrease of 284.01% compared to the previous period[15] - In Q1 2020, the company reported a net cash flow from operating activities of -129,848,484.13 RMB, a significant decline compared to 70,565,984.17 RMB in Q1 2019, representing a decrease of approximately 283%[35] - Total cash inflow from operating activities was 617,019,188.31 RMB, slightly up from 614,450,608.27 RMB in the same period last year[35] - Cash outflow from operating activities increased to 746,867,672.44 RMB, compared to 543,884,624.10 RMB in Q1 2019, marking an increase of about 37.3%[35] - The company experienced a net cash flow from investing activities of -149,300,175.62 RMB, worsening from -80,076,563.52 RMB in Q1 2019[36] - Cash inflow from financing activities rose to 688,850,000.00 RMB, up from 364,632,798.32 RMB in the previous year, indicating an increase of approximately 88.9%[36] - The net cash flow from financing activities was 223,045,535.87 RMB, a turnaround from -53,589,918.23 RMB in Q1 2019[36] Assets and Liabilities - Total assets decreased by 1.90% to CNY 10,164,051,630.08 compared to the end of the previous year[7] - The total assets of the company as of March 31, 2020, were 10,164,051,630.08 RMB, a decrease from 10,360,813,240.63 RMB at the end of the previous year[26] - The total liabilities decreased from CNY 6,557,460,010.83 in 2019 to CNY 6,421,413,370.34 in 2020, reflecting a reduction of about 2.1%[27] - The company's current liabilities totaled CNY 4,405,020,212.96, down from CNY 4,645,917,201.71, indicating a decrease of approximately 5.2%[27] - Long-term borrowings increased significantly from CNY 387,000,000.00 to CNY 640,000,000.00, marking a rise of 65.3%[27] - The company's cash and cash equivalents were reported at CNY 323,559,565.15, a decrease from CNY 371,697,844.20, which is a decline of about 12.9%[28] - The total current assets rose to CNY 2,432,653,987.84 from CNY 2,233,261,951.94, reflecting an increase of approximately 8.9%[28] - The company's inventory increased to CNY 340,064,953.49 from CNY 290,681,216.02, representing an increase of about 17%[28] Shareholder Information - The number of shareholders reached 18,689 at the end of the reporting period[10] - The total equity attributable to shareholders decreased from CNY 3,798,406,432.34 to CNY 3,737,557,476.18, a decline of approximately 1.6%[27] - The company reported an accumulated deficit of approximately CNY 533 million in retained earnings[45] Investments and Subsidiaries - Construction in progress rose by 41.07% to CNY 21,834,186.49 due to new base construction investments[12] - The company established two new subsidiaries: Gansu Pangyuan Machinery Engineering Co., Ltd. with a registered capital of 20 million RMB and Shenzhen Pangyuan Engineering Machinery Technology Co., Ltd. with a registered capital of 50 million RMB[19] Financial Expenses - The company's financial expenses increased due to higher interest expenses from increased financing leases[14] - The company’s financial expenses rose to ¥54,573,055.91 in Q1 2020, compared to ¥38,946,113.39 in Q1 2019, primarily due to increased interest expenses[30] Research and Development - Research and development expenses increased to ¥25,603,617.72 in Q1 2020, up from ¥22,004,837.36 in Q1 2019, indicating a focus on innovation[30] Accounting Changes - The company has adopted new revenue and lease standards starting in 2020, which may impact future financial reporting[40]