GUILIN FUDA (SH:603166)2020-04-29 16:00Financial Performance - Operating revenue for the first quarter was CNY 306,737,908.31, down 19.98% year-on-year[5] - Net profit attributable to shareholders was CNY 29,512,908.16, a decline of 36.15% compared to the same period last year[5] - Net profit decreased by 36.15% compared to the same period last year, attributed to reduced government subsidies and decreased sales revenue due to the pandemic[11] - Total operating revenue for Q1 2020 was ¥306,737,908.31, a decrease of 20% compared to ¥383,343,468.63 in Q1 2019[24] - Net profit for Q1 2020 was ¥29,512,908.16, a decline of 36% from ¥46,222,094.91 in Q1 2019[25] - The net profit for Q1 2020 was a loss of ¥3,440,576.11, compared to a profit of ¥652,793.99 in Q1 2019, indicating a significant decline in profitability[28] Cash Flow - Net cash flow from operating activities was CNY 9,464,213.69, a significant drop of 90.08% year-on-year[5] - Net cash flow from operating activities decreased by 90.08% year-on-year, mainly due to reduced government subsidies and a decrease in the amount of discounted bank acceptance bills[11] - The net cash flow from operating activities for Q1 2020 was ¥9,464,213.69, down 90.1% from ¥95,431,318.23 in Q1 2019[31] - Cash inflow from financing activities totaled $124,800,000.00, while cash outflow was $74,762,862.50, resulting in a net cash flow of $50,037,137.50[35] - The company experienced a net cash outflow of ¥10,561,695.35 in Q1 2020, contrasting with a net increase of ¥88,569,262.42 in Q1 2019[32] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,202,038,553.74, a decrease of 0.27% compared to the end of the previous year[5] - Total current assets as of March 31, 2020, amounted to CNY 1,273,358,946.42, compared to CNY 1,245,794,943.75 as of December 31, 2019[16] - Total assets as of March 31, 2020, were CNY 3,202,038,553.74, slightly down from CNY 3,210,776,555.69 as of December 31, 2019[18] - Total liabilities as of March 31, 2020, were CNY 1,012,766,229.17, compared to CNY 1,051,511,239.28 as of December 31, 2019[18] - Total liabilities for Q1 2020 were ¥424,223,601.52, a decrease from ¥435,060,253.67 in Q1 2019[22] Shareholder Information - The number of shareholders at the end of the reporting period was 22,465[9] - The largest shareholder, Fuda Holdings Group, held 69.28% of the shares, with 203,150,000 shares pledged[9] Research and Development - Research and development expenses for Q1 2020 were ¥19,732,671.98, up from ¥16,824,290.64 in Q1 2019, representing an increase of approximately 17.0%[25] - The company's research and development expenses for Q1 2020 were ¥4,999,266.50, an increase of 20.9% compared to ¥4,135,880.23 in Q1 2019[27] Other Financial Metrics - The weighted average return on equity decreased by 0.81 percentage points to 1.36%[5] - Earnings per share for Q1 2020 were ¥0.050, compared to ¥0.077 in Q1 2019, indicating a decrease of 35%[26] - The company reported a credit impairment loss of ¥4,903,196.57 in Q1 2020, indicating a new challenge in asset quality[25] - Cash outflow for dividend distribution and interest payments was $362,862.50, compared to $945,037.50 in the previous year[35]