SAILUN GROUP(SH:601058)2020-04-29 16:00Financial Performance - Net profit attributable to shareholders rose by 47.67% to CNY 271.98 million year-on-year[4] - Operating revenue decreased by 3.90% to CNY 3.24 billion compared to the same period last year[4] - Basic earnings per share increased by 57.14% to CNY 0.11 per share[4] - Diluted earnings per share doubled to CNY 0.14 per share[4] - The weighted average return on equity increased by 0.88 percentage points to 3.79%[4] - Total operating revenue for Q1 2020 was CNY 3,236,490,963.64, a decrease of 3.9% compared to CNY 3,367,990,392.42 in Q1 2019[21] - The net profit for Q1 2020 was ¥268,894,381.54, representing an increase of about 46.0% from ¥184,216,732.17 in Q1 2019[22] - The total profit for Q1 2020 was ¥292,673,757.99, compared to ¥217,322,148.07 in Q1 2019, reflecting an increase of approximately 34.7%[22] Cash Flow - Net cash flow from operating activities decreased significantly by 67.65% to CNY 215.07 million[4] - Net cash flow from operating activities decreased by 67.65% to CNY 215,071,478.16 from CNY 664,810,867.44 due to reduced sales collections and increased material payments[10] - The cash inflow from operating activities in Q1 2020 was CNY 3,035,567,779.08, a decrease of 10.1% compared to CNY 3,377,819,033.94 in Q1 2019[25] - The net cash flow from operating activities in Q1 2020 was CNY 215,071,478.16, down 67.7% from CNY 664,810,867.44 in Q1 2019[25] - The cash outflow for purchasing goods and services in Q1 2020 was CNY 2,117,381,863.77, an increase of 3.2% from CNY 2,044,146,094.91 in Q1 2019[25] Assets and Liabilities - Total assets increased by 6.09% to CNY 18.97 billion compared to the end of the previous year[4] - Total assets increased to CNY 18,966,765,696.22 from CNY 17,877,325,141.20, reflecting a growth in non-current assets[17] - Current liabilities increased to CNY 9,224,485,632.45 from CNY 8,466,725,670.13, primarily due to an increase in short-term borrowings[16] - Long-term borrowings slightly increased to CNY 1,915,957,185.14 from CNY 1,904,082,215.45, indicating stable long-term financing[16] - Total liabilities increased to CNY 5,818,638,644.03 in Q1 2020, compared to CNY 5,199,113,248.20 in Q1 2019, indicating a rise of 11.9%[20] - Current liabilities totaled CNY 4,597,572,402.76, up from CNY 3,889,357,621.80 in the previous year, marking an increase of 18.2%[19] Shareholder Information - The total number of shareholders reached 42,349 by the end of the reporting period[7] - The largest shareholder, Xinhua Lian Holdings, holds 13.98% of the shares, totaling 377,431,682 shares[7] - The company's total equity rose to CNY 7,731,199,351.56 from CNY 7,409,358,110.64, showing an increase in shareholder value[17] Expenses - Management expenses increased by 65.47% to CNY 152,864,000.28 from CNY 92,382,625.55, attributed to higher equity incentive costs[10] - Research and development expenses increased to CNY 51,536,828.60 in Q1 2020, compared to CNY 49,305,007.07 in Q1 2019, reflecting a growth of 4.5%[21] - The company’s research and development expenses for Q1 2020 were ¥23,562,256.20, down from ¥32,418,271.18 in Q1 2019, a decrease of approximately 27.3%[23] Financial Position - The company reported a cash and cash equivalents balance of CNY 874,054,865.38 as of March 31, 2020, down from CNY 1,128,140,410.98 at the end of 2019[19] - The company’s equity totaled CNY 4,694,494,193.99, slightly up from CNY 4,661,724,156.23 in Q1 2019[20] - The company has a total of CNY 1,462,548,837.64 in capital reserves, contributing to its financial stability[32] Revenue Recognition - The company implemented new revenue recognition standards starting January 1, 2020, adjusting the beginning balance of contract liabilities without affecting prior year-end figures[36] - Prepayments were reclassified to contract liabilities under the new revenue standards, resulting in a contract liability of CNY 69,497,704.01[10] - The company has not reported any significant impact on financial statements due to the new revenue recognition standards[36]