FUDA ALLOY(SH:603045)2020-04-29 16:00Financial Performance - Operating revenue for the period was CNY 257.67 million, down 8.05% year-on-year[5] - Net profit attributable to shareholders of the listed company was a loss of CNY 11.28 million, a decrease of 336.15% compared to a profit of CNY 4.78 million in the same period last year[5] - Basic and diluted earnings per share were both -CNY 0.0739, a decline of 148.71% from CNY 0.1517 in the same period last year[5] - Total operating revenue for Q1 2020 was ¥257,670,449.55, a decrease of 8.5% compared to ¥280,214,184.52 in Q1 2019[29] - Net profit for Q1 2020 was a loss of ¥10,148,088.39, compared to a profit of ¥14,911,602.34 in Q1 2019, representing a significant decline[29] - The net profit attributable to the parent company for Q1 2020 was a loss of ¥10,030,154.66, compared to a profit of ¥14,911,602.34 in Q1 2019, representing a significant decline[33] - The total comprehensive income for Q1 2020 was a loss of ¥10,317,528.35, compared to a total comprehensive income of ¥14,911,602.34 in Q1 2019[34] Cash Flow - Cash flow from operating activities improved, with a net cash flow of -CNY 163.90 million, representing a 38.99% reduction in losses compared to the previous year[5] - The net cash flow from operating activities was negative CNY 163,896,302.05, a decrease of 38.99% compared to the previous period, mainly due to higher material payments[15] - Cash inflow from operating activities for Q1 2020 was ¥292,835,944.73, an increase from ¥240,205,291.29 in Q1 2019[36] - The net cash flow from operating activities was -163,823,297.40 RMB, compared to -268,647,217.41 RMB in the same quarter last year, showing an improvement of approximately 39%[39] - Cash outflow from operating activities was 456,658,979.37 RMB, down from 508,852,508.70 RMB year-over-year, indicating a reduction of about 10%[39] Assets and Liabilities - Total assets at the end of the reporting period were approximately CNY 1.47 billion, a decrease of 0.39% compared to the end of the previous year[5] - Cash and cash equivalents decreased by 44.56% from CNY 184,190,236.79 to CNY 102,107,402.28 due to increased payments to suppliers[12] - Trading financial assets dropped by 76.52% from CNY 95,470,217.85 to CNY 22,417,159.58 as a result of reduced investments in bank wealth management products[12] - Total liabilities increased to ¥663,537,355.30 in Q1 2020 from ¥647,403,428.93 in Q1 2019, marking a rise of approximately 2.1%[26] - The company recorded a significant increase in long-term borrowings, reaching CNY 62,000,000.00, marking a 100% increase as a new three-year working capital loan was obtained[13] Shareholder Information - The total number of shareholders at the end of the reporting period was 18,256[10] - The largest shareholder, Wang Dawu, held 26.34% of the shares, with 15.34 million shares pledged[10] Impairment and Expenses - The company reported a significant increase in asset impairment losses, amounting to CNY -15,445,335.13, primarily due to higher provisions for raw material price declines[14] - The company incurred financial expenses of ¥7,096,450.28 in Q1 2020, compared to ¥6,332,998.47 in Q1 2019, reflecting an increase of approximately 12.1%[33] - The company reported a significant asset impairment loss of ¥15,445,335.13 in Q1 2020, compared to a loss of ¥4,671,062.23 in Q1 2019[33] Future Outlook - The company has not disclosed any new product developments or market expansion strategies in this report[5] - The company plans to focus on new product development and market expansion strategies in the upcoming quarters[29] - The net profit forecast indicates potential losses due to the ongoing impact of the COVID-19 pandemic and declining silver prices, leading to significant asset impairment provisions[15] Audit and Reporting - The report was not audited, and the board of directors confirmed the accuracy and completeness of the financial statements[6]