CNCEC(SH:601117)2020-04-29 16:00Financial Performance - Operating revenue for the first quarter was approximately CNY 13.37 billion, representing a decline of 24.56% year-on-year[4]. - Net profit attributable to shareholders was approximately CNY 529.70 million, down 14.93% from the same period last year[4]. - Basic earnings per share were CNY 0.11, a decrease of 15.38% compared to CNY 0.13 in the same period last year[4]. - The company reported a non-operating loss of approximately CNY 37.03 million, primarily due to other operating expenses[5]. - The company's revenue for Q1 2020 was 13.367 billion CNY, a decrease of 24.56% year-on-year[16]. - Net profit attributable to the parent company was 0.53 billion CNY, down 14.93 percentage points compared to the previous year[16]. - The company reported a 36.12% decrease in net cash flow from financing activities, totaling 544.65 million CNY compared to 852.58 million CNY in the previous year[15]. - The company incurred a financial expense of -¥71,675,165.35 in Q1 2020, compared to ¥56,771,570.24 in Q1 2019, indicating a significant shift in financial performance[27]. Cash Flow - The net cash flow from operating activities was approximately -CNY 5.94 billion, compared to -CNY 3.05 billion in the previous year, indicating a worsening cash flow situation[4]. - The net cash flow from operating activities for Q1 2020 was -¥5,936,542,707.45, compared to -¥3,046,283,843.01 in Q1 2019, indicating a worsening cash flow situation[30]. - The company reported a total cash inflow from operating activities of ¥15,410,020,350.32, down 17.5% from ¥18,601,804,904.52 in Q1 2019[30]. - The cash outflow from operating activities was ¥21,346,563,057.77, slightly decreased from ¥21,648,088,747.53 in Q1 2019[30]. - The net cash flow from investing activities was -¥2,423,372,702.59 in Q1 2020, compared to -¥558,488,174.12 in Q1 2019, indicating increased investment losses[31]. - The net cash flow from financing activities was ¥544,645,085.00 in Q1 2020, down from ¥852,580,005.13 in Q1 2019[31]. Assets and Liabilities - Total assets at the end of the reporting period were approximately CNY 112.54 billion, a decrease of 2.87% compared to the end of the previous year[4]. - Non-current assets totaled approximately $29.60 billion, an increase from $28.08 billion year-over-year, reflecting a growth of about 5.4%[19]. - Total liabilities decreased to approximately $74.46 billion from $78.27 billion, a reduction of about 4.0%[20]. - Current liabilities amounted to approximately $65.70 billion, down from $70.05 billion, indicating a decrease of about 6.3%[20]. - Accounts receivable increased by 42.48% to 321.15 million CNY from 225.40 million CNY[11]. - Inventory decreased by 72.77% to 3.97 billion CNY from 14.58 billion CNY due to reclassification under new revenue standards[11]. - The company's total equity rose to approximately $38.08 billion from $37.59 billion, an increase of about 1.3%[20]. - Total liabilities amounted to approximately ¥78.27 billion, showing a slight decrease of ¥15.96 million compared to the previous period[37]. Shareholder Information - The total number of shareholders at the end of the reporting period was 90,664, with the largest shareholder holding 37.08% of the shares[6]. - The total equity attributable to shareholders was approximately ¥35.14 billion, reflecting a minor decrease of ¥154,004.07 compared to the previous period[37]. Research and Development - Research and development expenses increased to ¥342.51 million in Q1 2020, up from ¥302.60 million in Q1 2019, representing a growth of 13.2%[25]. Revenue Recognition - The company has implemented a new revenue recognition policy effective January 1, 2020, which is not expected to significantly impact its financial condition or results[10]. Product Development and Market Strategy - The company has not disclosed any significant new product developments or market expansion strategies in this report[10].