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] - Basic and diluted earnings per share were both CNY -0.07, down 75.00% from CNY -0.04 in the previous year[7] - Total operating revenue for Q1 2020 was CNY 113,514,218.37, an increase of 29% compared to CNY 88,017,414.58 in Q1 2019[27] - 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%[27] - The company's operating revenue for Q1 2020 was ¥109,479,464.54, representing an increase of 29.4% compared to ¥84,598,880.59 in Q1 2019[30] - The net profit for Q1 2020 was ¥5,408,562.82, a significant recovery from a net loss of ¥158,507.46 in Q1 2019[30] - The total comprehensive income for Q1 2020 was ¥6,363,015.08, compared to a loss of ¥158,507.46 in Q1 2019[31] 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 at the end of 2019[24] - Total liabilities decreased to CNY 477,461,384.51 from CNY 551,367,563.22, a reduction of approximately 13%[24] - Total liabilities were reported at ¥847,917,409.66, with non-current liabilities at ¥229,422,920.46[42] - Total liabilities amounted to ¥551,367,563.22, with current liabilities at ¥530,205,002.76[46] - Total equity reached ¥960,991,477.66, with paid-in capital at ¥211,085,000.00 and retained earnings of ¥258,375,406.21[46] Cash Flow - Net cash flow from operating activities was negative at CNY -14,298,344.08, a decrease of 202.19% compared to the same period last year[7] - Operating cash flow net amount decreased to -CNY 14,298,344.08, a decline of 202.19% compared to CNY 13,991,906.80 in the same period last year[16] - The cash inflow from operating activities was ¥140,816,588.96, a decrease from ¥142,152,144.40 in Q1 2019[33] - 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] - Cash inflow from financing activities totaled ¥72,595,510.68, down 43.1% from ¥127,547,757.53 in Q1 2019[38] - The net cash flow from financing activities was -¥32,705,361.49, compared to a positive net cash flow of ¥112,149,536.60 in Q1 2019[38] Shareholder Information - The total number of shareholders at the end of the reporting period was 19,997[12] - The largest shareholder, Xu Shizhong, holds 40.01% of the shares, with 38,000,000 shares pledged[12] Expenses - Research and development expenses surged by 82.86% to CNY 14,781,029.14, reflecting higher investment in technology development[15] - Sales expenses increased by 31.18% to CNY 5,991,676.96, primarily due to higher shipping costs from increased sales volume[15] - Investment income fell by 55.21% to CNY 1,159,979.37, attributed to decreased financial management returns[15] Other Financial Metrics - The weighted average return on equity decreased by 0.72 percentage points to -1.62%[7] - Government subsidies recognized in other income amounted to CNY 1,395,784.12[9] - The company reported a total of CNY 2,291,775.86 in non-recurring gains and losses after tax adjustments[10] - Accounts receivable financing increased significantly to CNY 28,780,992.91, up 476.61% from CNY 4,991,445.99 in the previous period[14] - Prepayments rose by 49.65% to CNY 5,142,885.64, driven by increased material prepayments from a subsidiary[14] - Other receivables increased by 56.14% to CNY 2,920,401.77, due to additional equity consideration from a subsidiary[14] Changes in Accounting Standards - The company adopted the new revenue recognition standard 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 standard[47]