2020-04-28 16:00Financial Performance - Operating revenue fell by 24.48% to CNY 10.77 billion year-on-year[4] - Net profit attributable to shareholders decreased by 95.73% to CNY 118.49 million compared to the same period last year[4] - Basic earnings per share dropped by 96.30% to CNY 0.01 compared to CNY 0.27 in the previous year[4] - The company reported a net profit excluding non-recurring gains and losses of CNY -79.60 million, a decrease of 103.60% year-on-year[4] - Total operating revenue for Q1 2020 was 10,877,703,889 RMB, a decrease of 24.8% compared to 14,374,359,901 RMB in Q1 2019[19] - Net profit for Q1 2020 was 111,648,101 RMB, significantly down from 2,816,831,090 RMB in Q1 2019[19] - Net profit attributable to shareholders of the parent company for Q1 2020 was 118,493,097, a significant decrease from 2,777,967,504 in Q1 2019, representing a decline of approximately 95.7%[20] - Total comprehensive income for Q1 2020 was 664,509,790, down from 2,330,171,498 in Q1 2019, indicating a decrease of approximately 71.5%[22] Cash Flow and Assets - Net cash flow from operating activities was negative at CNY -6.47 billion, a decline of 7.33% year-on-year[4] - The net cash flow from operating activities for Q1 2020 was -6,473,241,577, compared to -6,031,010,077 in Q1 2019, reflecting a worsening cash flow situation[23] - Cash and cash equivalents decreased to 6,816,544,731 RMB from 9,734,366,397 RMB at the end of 2019, a decline of 30.5%[17] - Cash inflow from financing activities totaled 1,058,114,454 in Q1 2020, down from 1,485,996,211 in Q1 2019, reflecting a decrease of approximately 29%[24] - The net cash flow from financing activities was -2,261,092,544 in Q1 2020, a stark contrast to the positive 413,800,270 in Q1 2019[24] - The total cash outflow from operating activities was 371,724,557 in Q1 2020, compared to 285,515,877 in Q1 2019, representing an increase of approximately 30%[26] Assets and Liabilities - Total assets decreased by 7.33% to CNY 127.34 billion compared to the end of the previous year[4] - Total assets decreased to 127,338,954,454 from 137,409,527,863, reflecting a decline in current assets[14] - Total liabilities decreased to 44,965,459,088 from 54,955,307,018, indicating a reduction in short-term borrowings[14] - Current assets totaled 13,872,398,348 RMB, down from 16,791,412,359 RMB at the end of 2019, reflecting a decline of 17.5%[17] Shareholder Information - The total number of shareholders at the end of the reporting period was 36,450, with 36,190 A-share shareholders[7] - The largest shareholder, Guangzhou Automobile Industry Group Co., Ltd., holds 53.71% of the total shares[8] Government Support and Other Income - The company received government subsidies amounting to CNY 209.73 million related to its normal business operations[5] - Other income increased by 136.31% to 20,854,78, mainly from government subsidies received[10] - The company recorded other income of 39,255,648 in Q1 2020, compared to 29,526,947 in Q1 2019, showing an increase of approximately 33%[21] Expenses - Management expenses decreased by 31.37% to 63,576,62, due to a reduction in intangible asset amortization and equity incentives[10] - Research and development expenses for Q1 2020 were 115,713,188 RMB, slightly up from 113,299,297 RMB in Q1 2019[19] - Research and development expenses for Q1 2020 were 314,747,181, a significant increase from 149,737,374 in Q1 2019, representing a rise of approximately 109.8%[21] - Financial expenses for Q1 2020 were 5,629,981, down from 9,545,644 in Q1 2019, indicating a reduction of about 40.5%[21] Investment Income - Investment income decreased by 63.07% to 94,830,12 due to reduced profits from joint ventures[10] - The company reported an investment income of 948,301,221 RMB in Q1 2020, a significant decrease from 2,568,165,472 RMB in Q1 2019[19]