YAPP(SH:603013)2020-04-27 16:00Financial Performance - Net profit attributable to shareholders increased by 25.62% to CNY 79,170,690.81 year-on-year[12] - Operating cash flow increased significantly by 349.61% to CNY 487,536,191.19 compared to the same period last year[12] - Basic earnings per share rose by 25.00% to CNY 0.15 compared to the same period last year[12] - The net profit after deducting non-recurring gains and losses increased by 27.69% to CNY 75,675,201.05 year-on-year[12] - Net profit for Q1 2020 reached CNY 84,953,575.63, an increase of 27.8% compared to CNY 66,488,187.12 in Q1 2019[51] - The total profit for Q1 2020 was approximately ¥35.92 million, a decrease of 12.9% compared to ¥41.27 million in Q1 2019[53] Revenue and Costs - Revenue for the quarter was CNY 1,693,006,221.29, a decrease of 3.45% year-on-year[12] - Total operating revenue for Q1 2020 was CNY 1,693,006,221.29, a decrease of 3.43% compared to CNY 1,753,424,508.41 in Q1 2019[49] - Total operating costs for Q1 2020 were CNY 1,593,904,194.43, down 5.27% from CNY 1,682,424,039.16 in Q1 2019[49] Assets and Liabilities - Total assets decreased by 9.00% to CNY 6,196,614,292.63 compared to the end of the previous year[12] - Total liabilities decreased from 3,468,124,623.89 to 2,866,721,289.20, a reduction of approximately 17.3%[39] - Current liabilities decreased from 2,825,290,644.75 to 2,356,637,325.08, a decrease of about 16.6%[39] - Non-current liabilities decreased from 642,833,979.14 to 510,083,964.12, a decline of approximately 20.6%[39] - Total equity attributable to shareholders decreased from 3,243,245,637.88 to 3,226,192,945.14, a slight decrease of about 0.5%[39] Cash Flow - Cash and cash equivalents increased by 213 million RMB, primarily due to the recovery of payments and the maturity of bank acceptance bills[22] - Net cash inflow from operating activities was 488 million RMB, an increase of 379 million RMB year-on-year, mainly due to the recovery of funds from matured bank acceptance bills[26] - Cash flow from operating activities for Q1 2020 was CNY 404,721,632.86, a significant increase from CNY 35,233,862.55 in Q1 2019, representing a growth of approximately 1,149%[61] - The net increase in cash and cash equivalents for Q1 2020 was CNY 187,354,365.67, contrasting with a decrease of CNY 97,703,549.49 in Q1 2019[63] Shareholder Information - The total number of shareholders at the end of the reporting period was 19,101[18] - The largest shareholder, Guotou High-tech Investment Co., Ltd., holds 49.09% of the shares[18] Government Support - The company received government subsidies amounting to CNY 6,034,464.82 during the quarter[15] - Other income increased by 1.7 million RMB year-on-year, primarily due to an increase in government subsidies received[26] Financial Management - Financial expenses decreased by 17.85 million RMB year-on-year, primarily due to exchange rate effects, with a net exchange gain of 15.31 million RMB this period[26] - The company reported a financial income of CNY -4,657,456.32 in Q1 2020, compared to CNY 13,193,710.01 in Q1 2019, indicating a significant improvement in financial management[49] Inventory and Receivables - Accounts receivable decreased from 810,127,653.09 to 508,699,543.28, a decrease of about 37.2%[42] - Inventory decreased from 593,117,735.14 to 501,668,246.07, a reduction of approximately 15.4%[42] Research and Development - Research and development expenses for Q1 2020 were CNY 40,415,010.01, down from CNY 52,548,966.08 in Q1 2019, reflecting a reduction of 23.06%[49] - R&D expenses in Q1 2020 were approximately ¥41.45 million, a decrease of 19.1% from ¥51.28 million in Q1 2019[53] Changes in Accounting Standards - The company has implemented new revenue recognition standards, impacting the reporting of contract liabilities[75]