Ye Chiu Resources(SH:601388)2020-04-29 16:00Financial Performance - Operating revenue for the period was CNY 1,288,396,203.55, reflecting a decline of 3.02% year-on-year[7] - Net profit attributable to shareholders was CNY 48,881,117.42, an increase of 472.05% compared to the same period last year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 67,356,863.57, a significant increase of 8,744.57% year-on-year[7] - The weighted average return on equity increased by 1.44 percentage points to 1.77%[7] - Total revenue for Q1 2020 was CNY 1,288,396,203.55, a decrease of 3.5% compared to CNY 1,328,575,580.19 in Q1 2019[26] - Net profit for Q1 2020 reached CNY 48,881,158.48, significantly up from CNY 8,544,894.62 in Q1 2019, representing a growth of 471.5%[27] - Basic earnings per share for Q1 2020 were CNY 0.0241, compared to CNY 0.0042 in Q1 2019, marking an increase of 471.4%[28] - The company reported a significant increase in sales revenue from CNY 288,281,980.04 in Q1 2019 to CNY 440,776,281.50 in Q1 2020, marking a growth of 53.0%[35] Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,913,332,084.47, a decrease of 0.97% compared to the end of the previous year[7] - Total assets as of March 31, 2020, were ¥4,913,332,084.47, down from ¥4,961,570,924.37 at the end of 2019[20] - As of March 31, 2020, total current assets amounted to ¥3,295,409,344.63, slightly up from ¥3,294,804,004.11 at the end of 2019[18] - Total liabilities decreased to ¥2,171,260,031.83 from ¥2,220,419,010.90 at the end of 2019, indicating a reduction in financial obligations[20] - Total liabilities rose to CNY 1,274,544,879.71 in Q1 2020, up from CNY 1,140,323,919.47 in Q1 2019, indicating an increase of 11.8%[24] - The company's total liabilities as of January 1, 2020, were CNY 1,140,323,919.47, with current liabilities accounting for CNY 940,323,919.47[44] Cash Flow - Cash flow from operating activities was CNY 128,422,054.07, up 7.82% from the previous year[7] - Cash flow from operating activities for Q1 2020 was CNY 128.42 million, a slight increase of 7.0% from CNY 119.11 million in Q1 2019[33] - The net cash flow from operating activities was CNY 21,639,106.94, slightly down by 4.9% compared to CNY 22,760,082.37 in the same period last year[36] - The net cash flow from investment activities decreased by 34.82% to ¥89,426,906.59 compared to ¥137,195,306.93 in the same period last year, primarily due to a reduction in the purchase of bank wealth management products[14] - The net cash flow from financing activities improved by 57.91%, reaching -¥65,016,268.45, compared to -¥154,467,029.59 in the previous year, mainly due to a decrease in bank loan repayments[14] Expenses - The company's sales expenses increased by 95.53% to CNY 29,724,014.02 due to changes in sales strategy[12] - The company reported a significant increase in sales expenses, which rose to CNY 29,724,014.02 in Q1 2020 from CNY 15,201,768.69 in Q1 2019, an increase of 95.7%[27] - Financial expenses rose by 162.98% to CNY 34,720,908.56, primarily due to exchange rate fluctuations[12] - The company incurred financial expenses of CNY 15.36 million in Q1 2020, compared to a financial income of CNY 1.82 million in Q1 2019[30] Shareholder Information - The number of shareholders at the end of the reporting period was 73,010[11] - The company has not indicated any significant changes in net profit expectations for the upcoming reporting period[15] Regulatory and Compliance - The company is awaiting formal approval from the China Securities Regulatory Commission for its non-public issuance of A-shares, which has been preliminarily approved[13] Inventory and Receivables - The company reported a significant increase in accounts receivable by 194.81% to CNY 84,354,632.27, attributed to increased domestic sales[12] - The company's inventory decreased to ¥1,218,045,695.28 from ¥1,321,373,198.46, reflecting a 7.8% reduction[18]