HFM(SH:603011)2020-04-29 16:00Financial Performance - The company's operating revenue for Q1 2020 was ¥62,982,354.02, a decrease of 53.90% compared to ¥136,624,169.05 in the same period last year[8] - The net profit attributable to shareholders was a loss of ¥24,797,239.11, a significant decline of 886.79% from a profit of ¥3,151,691.35 in the previous year[8] - The net cash flow from operating activities was negative at ¥85,853,675.07, representing a decrease of 23.85% compared to ¥69,321,895.79 in the same period last year[8] - The company reported a basic earnings per share of -¥0.06, a decrease of 700.00% compared to ¥0.01 in the same period last year[8] - The company reported a significant reduction in other income, which fell by 57.30% to ¥3,060,077.65 from ¥7,165,912.84, mainly due to decreased government subsidies received[15] - The company's total operating revenue for Q1 2020 was CNY 9,804,827.81, a significant decrease of 86.9% compared to CNY 69,748,898.71 in Q1 2019[32] - Operating profit for Q1 2020 was a loss of CNY 18,956,521.00, compared to a loss of CNY 3,119,398.43 in the same period last year[33] - The net profit for Q1 2020 was a loss of CNY 18,958,319.00, compared to a loss of CNY 2,902,452.77 in Q1 2019, indicating a worsening financial performance[33] - Basic earnings per share for Q1 2020 were CNY -0.06, compared to CNY 0.01 in Q1 2019, reflecting a decline in profitability[30] - The total comprehensive income for Q1 2020 was CNY -18,958,319.00, compared to CNY -2,902,452.77 in the same quarter last year[33] Cash Flow - The net cash flow from investment activities was ¥33,659,239.80, a significant improvement from -¥12,374,873.53 in the previous year[15] - The net cash flow from financing activities rose to ¥40,402,994.85, compared to -¥14,932,231.66 in the same period last year, indicating increased cash inflow from financing[15] - In Q1 2020, the company's cash inflow from operating activities was CNY 108,011,720.33, a decrease of 38.2% compared to CNY 174,960,882.56 in Q1 2019[35] - The net cash flow from operating activities was -CNY 85,853,675.07, worsening from -CNY 69,321,895.79 in the same period last year[35] - The net cash flow from investment activities was CNY 33,659,239.80, a significant improvement from -CNY 12,374,873.53 in Q1 2019[36] - Cash inflow from financing activities increased to CNY 139,000,000.00, up 81.5% from CNY 76,830,000.00 in Q1 2019[36] - The net cash flow from financing activities was CNY 40,402,994.85, compared to -CNY 14,932,231.66 in the previous year[36] Assets and Liabilities - Total assets increased by 1.54% to ¥2,552,520,255.72 from ¥2,513,853,234.05 at the end of the previous year[8] - Current liabilities increased to ¥843,789,212.06 from ¥771,817,204.74, reflecting a rise in short-term borrowings and payables[20] - Total liabilities increased to ¥594,410,450.21 in Q1 2020 from ¥567,440,582.99 in Q1 2019, reflecting a growth of 4.9%[25] - The company's total equity decreased to ¥1,455,088,987.90 from ¥1,473,551,525.10, a decline of 1.2%[25] - The company reported a decrease in accounts receivable to ¥172,472,612.41 from ¥216,904,321.37, a decline of 20.5%[24] - Total assets amounted to CNY 2,513,853,234.05, with current assets at CNY 1,378,999,976.55 and non-current assets at CNY 1,134,853,257.50[41] - Total liabilities reached CNY 836,326,282.03, with current liabilities at CNY 771,817,204.74 and non-current liabilities at CNY 64,509,077.29[42] Research and Development - R&D expenses increased by 60.95% to ¥11,929,614.03 from ¥7,411,786.24, reflecting a commitment to enhance research and development efforts[15] - Research and development expenses increased to CNY 2,493,209.68 in Q1 2020, up from CNY 2,145,501.56 in Q1 2019, reflecting a focus on innovation[32] Shareholder Information - The number of shareholders at the end of the reporting period was 29,121[12] - Shareholders' equity totaled CNY 1,677,526,952.02, including CNY 453,074,794.00 in paid-in capital and CNY 1,043,166,532.55 in capital reserves[43] Government Support - The company received government subsidies amounting to ¥1,366,286.00 during the reporting period[7] Accounting Changes - The company has adopted the new revenue and leasing standards starting from January 1, 2020, without retrospective adjustments to prior comparative data[49] - The company reclassified CNY 79,974,534.59 in advance payments to contract liabilities due to the implementation of new revenue standards[44] - The company reclassified sales-related advance payments of 45,643,232.72 to contract liabilities and warranty deposits of 26,139,948.65 from accounts receivable to contract assets due to the implementation of the new revenue standard[48]