TANYUAN TECH(SH:603133)2020-04-28 16:00Financial Performance - Operating revenue increased by 28.97% to CNY 113,514,218.37 year-on-year[7] - Net profit attributable to shareholders was a loss of CNY 14,339,711.10, representing a decline of 66.84% compared to the previous year[7] - Net cash flow from operating activities was negative at CNY -14,298,344.08, a decrease of 202.19% year-on-year[7] - Basic and diluted earnings per share were both CNY -0.07, down 75.00% from the previous year[7] - The weighted average return on equity decreased by 0.72 percentage points to -1.62%[7] - The net profit after deducting non-recurring gains and losses was CNY -16,631,486.96, a decrease of 49.83% year-on-year[7] - Net loss for Q1 2020 was CNY 17,017,303.57, compared to a net loss of CNY 10,344,044.01 in Q1 2019, indicating a worsening of 64%[28] - The company reported a significant increase in financial expenses, which rose to CNY 4,315,866.93 from CNY 1,224,215.43, an increase of 253%[28] Assets and Liabilities - Total assets decreased by 3.30% to CNY 1,706,464,980.77 compared to the end of the previous year[7] - Total assets as of March 31, 2020, were CNY 1,443,861,424.99, down from CNY 1,512,359,040.88, a decrease of 5%[25] - Total liabilities decreased to CNY 477,461,384.51 from CNY 551,367,563.22, a reduction of 13%[25] - Current liabilities decreased to ¥543,889,677.49 from ¥618,494,489.20[21] - Long-term borrowings increased to ¥215,000,000.00 from ¥175,000,000.00[21] - Total liabilities reached ¥847,917,409.66, with current liabilities at ¥618,494,489.20[42] Shareholder Information - The total number of shareholders reached 19,997 at the end of the reporting period[12] - The largest shareholder, Xu Shizhong, holds 40.01% of the shares, with 38,000,000 shares pledged[12] Cash Flow - Cash and cash equivalents decreased to CNY 127,463,966.85 from CNY 151,095,645.06, a decline of 16%[23] - The net cash flow from operating activities for Q1 2020 was ¥7,341,115.63, a decrease of 63.4% compared to ¥20,061,785.48 in Q1 2019[38] - Total cash inflow from investment activities was ¥224,445,434.74, down 37.1% from ¥357,275,160.76 in the same period last year[38] - Cash inflow from financing activities totaled ¥72,595,510.68, a decrease of 43.2% compared to ¥127,547,757.53 in Q1 2019[38] Expenses - Sales expenses grew by 31.18% to ¥5,991,676.96 compared to ¥4,567,572.01[15] - R&D expenses surged by 82.86% to ¥14,781,029.14 from ¥8,083,257.49[15] - Financial expenses increased dramatically by 252.54% to ¥4,315,866.93 from ¥1,224,215.43[15] - Research and development expenses for Q1 2020 were CNY 14,781,029.14, up from CNY 8,083,257.49 in Q1 2019, representing an increase of 83%[28] Revenue Recognition - The company adopted new revenue recognition standards starting January 1, 2020, impacting the financial statements[47] - The company did not adjust comparative data for the periods prior to the adoption of the new revenue standards[47] Other Financial Information - The company received government subsidies amounting to CNY 1,395,784.12 during the reporting period[10] - The company reported a goodwill of ¥13,852,383.17 and intangible assets of ¥84,267,017.01[41] - The company reported no interest payable or dividends payable in the current quarter[46] - The company’s financial report is not subject to an audit report[48]