Linyang Energy(SH:601222)2020-04-24 16:00Financial Performance - Net profit attributable to shareholders of the listed company was ¥131,665,320.63, a decrease of 18.72% year-on-year[11]. - Operating revenue for the period was ¥687,939,523.27, down 0.94% from the same period last year[11]. - The net profit after deducting non-recurring gains and losses was ¥102,068,809.82, a decrease of 33.30% year-on-year[11]. - Basic earnings per share were ¥0.08, down 11.11% from ¥0.09 in the previous year[11]. - Net profit for Q1 2020 was CNY 132,082,555.20, down 18.9% from CNY 162,894,350.85 in Q1 2019[37]. - Total revenue for Q1 2020 was CNY 687,939,523.27, a decrease of 0.8% compared to CNY 694,498,793.21 in Q1 2019[36]. - The total profit for Q1 2020 was CNY 25.57 million, compared to CNY 4.87 million in Q1 2019, marking an increase of 424.5%[39]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥17,864,155,755.15, an increase of 2.27% compared to the end of the previous year[11]. - The total net assets attributable to shareholders of the listed company increased by 0.60% to ¥10,352,735,451.95[11]. - The company's current assets totaled CNY 7,836,055,903.42 as of March 31, 2020, compared to CNY 7,302,620,408.11 at the end of 2019, indicating an increase of about 7.31%[22]. - The total liabilities increased to CNY 7,486,401,867.14 from CNY 7,152,215,127.73, which is an increase of approximately 4.67%[26]. - The company's total liabilities to equity ratio stood at approximately 0.72 as of March 31, 2020, compared to 0.69 at the end of 2019, indicating a slight increase in financial leverage[26]. - Total liabilities reached approximately ¥7.15 billion, with a minor decrease of ¥4.57 million[56]. Cash Flow - Net cash flow from operating activities was -¥38,015,062.57, a significant decline of 219.22% compared to the previous year[11]. - Investment activities generated a net cash outflow of -621,751,063.19 RMB, an increase of 838.81%, mainly due to increased purchases of financial products[18]. - The financing activities resulted in a net cash inflow of 261,993,880.23 RMB, a 306.09% increase, due to the addition of low-interest export-import bank loans[18]. - The company reported a net cash outflow from operating activities of CNY -38.02 million, compared to a net inflow of CNY 31.89 million in Q1 2019[43]. - Cash inflow from financing activities was CNY 666,532,664.53, significantly higher than CNY 210,000,000.00 in the previous year[49]. Shareholder Information - The total number of shareholders is 51,643, with the largest shareholder, Qidong Huahong Electronics Co., Ltd., holding 715,241,427 shares, representing 40.69% of the total shares[16]. - The company reported a total of 10,290,626,708.53 in net assets at the end of the previous year[11]. Non-Recurring Items - Non-recurring gains and losses totaled ¥29,596,510.81, primarily from government subsidies and other non-operating income[13]. - The company reported a significant increase in government subsidies, leading to a 2883.64% rise in other income to 26,193,048.53 RMB[18]. Inventory and Receivables - The inventory increased to CNY 874,394,172.05 from CNY 798,310,166.18, indicating a rise of approximately 9.54%[22]. - Accounts receivable financing rose significantly by 223.93% to 69,035,144.44 RMB, mainly due to an increase in bank acceptance bills[18]. - The accounts receivable rose to CNY 3,072,708,058.18 from CNY 3,005,170,860.83, showing an increase of about 2.23%[22]. Research and Development - Research and development expenses rose to CNY 30,933,690.61, up from CNY 27,541,742.37 in Q1 2019, reflecting a focus on innovation[36]. - Research and development expenses increased to CNY 21.80 million, up 26.5% from CNY 17.26 million in Q1 2019[39]. Changes in Financial Reporting - The company implemented new revenue and lease standards starting in 2020, affecting the financial statements[51]. - The company has implemented new revenue and leasing standards effective January 1, 2020, impacting financial reporting[63].