Perfect(SH:603059)2020-04-20 16:00Financial Performance - Operating revenue for the first quarter was CNY 125,972,108.90, representing a decrease of 28.73% year-on-year[5] - Net profit attributable to shareholders of the listed company was CNY 14,009,911.84, down 42.49% from the same period last year[5] - Basic and diluted earnings per share were both CNY 0.14, a decrease of 41.67% year-on-year[5] - Total operating revenue for Q1 2020 was CNY 125,972,108.90, a decrease of 29% compared to CNY 176,764,138.20 in Q1 2019[22] - Net profit for Q1 2020 was CNY 14,009,911.84, a decline of 42.5% from CNY 24,359,047.34 in Q1 2019[23] - Earnings per share for Q1 2020 was CNY 0.14, compared to CNY 0.24 in Q1 2019[23] - Total comprehensive income for Q1 2020 was ¥5,252,326.30, down 50.3% from ¥10,586,528.19 in Q1 2019[26] Cash Flow - The net cash flow from operating activities was negative CNY 752,465.45, a decline of 102.28% compared to the previous year[5] - Net cash flow from operating activities decreased by 102.28% to CNY -752,465.45 from CNY 33,036,819.98, mainly due to a reduction in cash received from sales[11] - Cash flow from operating activities showed a net outflow of ¥752,465.45, compared to a net inflow of ¥33,036,819.98 in Q1 2019[29] - The net cash flow from financing activities improved significantly to 13,545,580.32 RMB in Q1 2020, compared to -23,658,022.66 RMB in Q1 2019, showing a positive turnaround[32] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 1,200,482,199.80, an increase of 0.68% compared to the end of the previous year[5] - Total assets amounted to CNY 1,200,482,199.80, a slight increase from CNY 1,192,347,439.15[16] - Total liabilities decreased to CNY 214,099,182.11 from CNY 220,117,186.28[16] - Total equity increased to CNY 986,383,017.69 from CNY 972,230,252.87[16] - Total liabilities stood at 220,117,186.28 RMB, with current liabilities accounting for 202,418,163.19 RMB, indicating a stable liability structure[36] Shareholder Information - The total number of shareholders at the end of the reporting period was 8,053[8] - The largest shareholder, Zhang Wensheng, held 63,000,000 shares, accounting for 63% of the total shares[8] Expenses - Sales expenses decreased by 34.92% to CNY 6,885,371.02 from CNY 10,580,225.36, primarily due to a decline in agent fees, commissions, and e-commerce platform operation costs[11] - Research and development expenses for Q1 2020 were CNY 2,478,513.94, down from CNY 2,756,058.23 in Q1 2019[22] - The company reported a decrease in sales expenses to ¥4,761,518.13, down 38.9% from ¥7,807,068.19 in Q1 2019[25] Non-Recurring Items - Non-recurring gains and losses totaled negative CNY 1,884,903.87, primarily due to production losses caused by the COVID-19 pandemic[8] - The company reported a government subsidy of CNY 1,474,924.77, which is included in the non-recurring gains and losses[7] Other Financial Metrics - The company had a weighted average return on equity of 1.43%, down 1.33 percentage points from the previous year[5] - The company reported a significant increase in credit impairment losses by 53.67% to CNY 838,705.16 from CNY 545,799.44, mainly due to higher provisions for bad debts[11] - Cash and cash equivalents increased by 36.39% to CNY 112,575,095.96 from CNY 82,538,476.61, primarily due to an increase in bank deposits[10] - Other non-current assets rose by 85.97% to CNY 59,816,397.28 from CNY 32,163,956.70, mainly due to prepayments for long-term assets[10] - Short-term borrowings surged by 554.07% to CNY 36,030,300.07 from CNY 5,508,612.39, primarily due to risks associated with bank receivables[11]