Sinotec(SH:603121)2020-04-28 16:00Financial Performance - Net profit attributable to shareholders decreased by 45.13% to CNY 13,071,390.06 compared to the same period last year[5] - Operating income declined by 17.50% to CNY 122,440,713.03 compared to the same period last year[5] - Gross profit margin fell to 31.69%, a decrease of 9.06 percentage points compared to the same period last year[6] - Basic and diluted earnings per share both decreased by 50.00% to CNY 0.06 compared to the same period last year[5] - Total operating revenue for Q1 2020 was ¥122,440,713.03, a decrease of 17.5% compared to ¥148,405,011.76 in Q1 2019[26] - Net profit for Q1 2020 was ¥13,095,286.31, a decline of 45.0% from ¥23,815,368.69 in Q1 2019[28] - The company’s total comprehensive income for Q1 2020 was ¥13,095,286.31, down 45.0% from ¥23,815,368.69 in Q1 2019[28] - The total comprehensive income for the period was ¥10,132,758.40, compared to ¥28,066,627.44 in the previous year, reflecting a decrease of approximately 63.9%[35] Assets and Liabilities - Total assets decreased by 1.73% to CNY 1,382,577,981.46 compared to the end of the previous year[5] - Total current assets decreased to CNY 882,992,785.58 from CNY 904,205,826.59 at the end of 2019[19] - Total liabilities decreased to ¥262,018,680.26 from ¥299,385,435.84, a reduction of about 12.5%[21] - Total current liabilities decreased to ¥260,756,553.36 from ¥298,049,335.99, reflecting a reduction of about 12.5%[21] - Total non-current assets were reported at ¥499,585,195.88, slightly down from ¥502,643,624.14, indicating a decrease of around 0.4%[21] - The company reported a decrease in short-term borrowings to ¥111,829,606.41 from ¥124,630,936.00, a decline of about 10.3%[21] Cash Flow - The net cash flow from operating activities increased by 197.78% to CNY 47,269,200.16 compared to the same period last year[5] - Cash flow from operating activities showed a decrease of 54.79% in other operating cash receipts, down to CNY 2,953,418.86 from CNY 6,532,802.23[15] - The company recorded cash inflows from investment activities of ¥429,521,233.46, significantly higher than ¥190,006,000.00 in Q1 2019, marking an increase of approximately 126.9%[38] - The company achieved a net cash flow from investing activities of -¥10,183,621.55, an improvement from -¥356,275,516.90 in Q1 2019, reflecting a reduction in cash outflow by approximately 97.1%[36] - The net cash flow from financing activities was -¥12,686,208.83, a sharp decline compared to ¥492,530,470.60 in Q1 2019, indicating a decrease of about 102.6%[36] Expenses and Costs - The company reported a 39.00% reduction in management expenses, totaling ¥14,687,572.19, due to lower business service fees and policy-related reductions in social insurance costs[14] - Total operating costs for Q1 2020 were ¥110,076,096.46, down 13.3% from ¥126,830,302.60 in Q1 2019[26] - Research and development expenses for Q1 2020 were ¥7,369,837.84, down 13.0% from ¥8,463,449.76 in Q1 2019[26] Investments - Investment income rose by 110.42% to ¥3,440,617.55, driven by an increase in the scale of financial product investments compared to the previous year[14] - The company reported an investment income of ¥3,440,617.55 in Q1 2020, compared to ¥1,635,095.89 in Q1 2019, an increase of 110.0%[26] Shareholder Information - The company reported a total of 24,263 shareholders as of the end of the reporting period[10] - The company's equity attributable to shareholders increased to ¥1,120,484,965.34 from ¥1,107,413,575.28, reflecting an increase of approximately 1.2%[21] Future Outlook - The company plans to actively explore new customers and enhance process research and development to mitigate the impact of the pandemic[7] - The company did not anticipate significant changes in cumulative net profit compared to the previous year[16] - The company plans to continue focusing on investment activities and improving cash flow management strategies to enhance financial stability moving forward[36]