Befar(SH:601678)2020-04-22 16:00Financial Performance - Net profit attributable to shareholders of the listed company was ¥36,571,345.44, a decrease of 73.79% year-on-year[10]. - Operating revenue for the period was ¥1,434,083,267.45, down 8.84% from the same period last year[10]. - Basic earnings per share decreased by 77.78% to ¥0.02 from ¥0.09 in the previous year[10]. - The weighted average return on equity fell to 0.58%, a decrease of 1.67 percentage points from the previous year[10]. - Operating profit fell by 74.08% compared to the same period last year, significantly impacted by a decline in product prices due to the pandemic[19]. - The company's net profit for Q1 2020 was approximately ¥48.2 million, compared to ¥56.9 million in Q1 2019, reflecting a decrease of 15.3%[38]. - The company's net profit for Q1 2020 was CNY 35,570,993.76, a decrease of 75% compared to CNY 142,349,600.03 in Q1 2019[41]. - Total profit for Q1 2020 was CNY 43,467,757.82, a decrease of approximately 77% from CNY 187,227,885.44 in Q1 2019[41]. Cash Flow - Net cash flow from operating activities was ¥139,412,869.65, a decline of 48.30% compared to the previous year[10]. - Cash inflow from operating activities totaled 1,179,148,831.85 RMB, down from 1,335,111,676.94 RMB, reflecting a decline of 11.7%[49]. - Cash outflow from operating activities was 1,039,735,962.20 RMB, compared to 1,065,437,607.54 RMB, indicating a decrease of 2.4%[49]. - The net cash flow from investment activities was -701,139,737.47 RMB, worsening from -164,954,567.08 RMB in the previous year[49]. - Cash inflow from financing activities reached 1,024,000,000.00 RMB, significantly higher than 100,000,000.00 RMB in the prior year[51]. - The net cash flow from financing activities was 467,866,739.68 RMB, compared to -157,709,126.93 RMB, showing a substantial improvement[51]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥11,690,666,347.20, an increase of 5.57% compared to the end of the previous year[10]. - Total liabilities increased to 5.36 billion yuan from 4.66 billion yuan, with short-term borrowings rising to 1.56 billion yuan from 879 million yuan[29]. - Total assets as of March 31, 2020, amounted to 11.69 billion yuan, an increase from 11.07 billion yuan as of December 31, 2019[23]. - Current assets totaled approximately ¥2.38 billion in Q1 2020, compared to ¥1.67 billion in Q4 2019, marking a significant increase of 42.6%[36]. - Current liabilities rose to approximately ¥3.32 billion in Q1 2020, up from ¥2.56 billion in Q4 2019, an increase of 29.8%[36]. - Non-current assets totaled approximately ¥7.83 billion in Q1 2020, slightly up from ¥7.77 billion in Q4 2019, indicating a growth of 0.7%[36]. Shareholder Information - The total number of shareholders at the end of the reporting period was 50,684[16]. - The top ten shareholders held a combined 55.01% of the shares, with the largest shareholder owning 10.79%[16]. Other Income and Expenses - The company received government grants totaling ¥3,618,779.00 during the reporting period[10]. - The company reported a non-operating income of ¥872,624.61, primarily from fixed asset sales and investment income[12]. - Other income for Q1 2020 increased by 61.29% year-over-year, mainly due to a one-time employment subsidy of 1 million yuan received during the pandemic[19]. - Investment income decreased by 82.47% year-over-year, primarily due to a reduction in investment income accounted for using the equity method[19]. - Research and development expenses for Q1 2020 were approximately ¥3.51 million, down from ¥4.06 million in Q1 2019, a reduction of 13.6%[38]. - Research and development expenses increased to CNY 852,221.07 in Q1 2020 from CNY 672,024.31 in Q1 2019, marking a rise of approximately 26.7%[43]. - The company reported a significant increase in financial expenses, totaling CNY 34,294,268.54 in Q1 2020, up from CNY 20,353,494.36 in Q1 2019[43]. Accounts Receivable and Prepayments - Accounts receivable rose by 100.95% during the same period, mainly due to increased receivables from products such as caustic soda and propylene oxide[19]. - The company reported a significant increase in accounts receivable, which rose to approximately ¥90.57 million in Q1 2020 from ¥39.73 million in Q4 2019, an increase of 128.2%[36]. - Prepayments surged by 299.01%, attributed to a prepayment of 57 million yuan for catalysts by Binhua New Materials[19].