TUNA(SH:603177)2020-04-27 16:00Financial Performance - Operating revenue fell by 54.95% to CNY 45,602,564.22 year-on-year[6] - Net profit attributable to shareholders decreased by 85.07% to CNY -18,582,701.61[6] - Cash flow from operating activities showed a decline of 31.00%, amounting to CNY -72,223,401.48[6] - Basic and diluted earnings per share both decreased by 80.00% to CNY -0.09[6] - The company reported a net loss of ¥19,425,721.02, a decrease of 93.47% compared to the previous year, primarily due to reduced operating income[15] - The company experienced a 54.31% reduction in operating costs, aligning with the decrease in operating revenue[15] - Total operating revenue for Q1 2020 was ¥45,602,564.22, a decrease of 55.1% compared to ¥101,235,609.33 in Q1 2019[29] - Net loss for Q1 2020 was ¥19,425,721.02, compared to a net loss of ¥10,040,824.62 in Q1 2019, representing a 93.7% increase in losses[31] - The total comprehensive loss for Q1 2020 was -¥19,628,754.38, compared to -¥10,053,191.71 in Q1 2019, indicating a 95.6% increase in comprehensive losses[31] Assets and Liabilities - Total assets decreased by 5.31% to CNY 1,291,224,417.03 compared to the end of the previous year[6] - Current assets totaled ¥1,036,677,683.47, down from ¥1,123,228,709.93, indicating a decrease of about 7.7%[21] - Total liabilities decreased to ¥773,806,195.36 from ¥826,532,367.67, a reduction of about 6.4%[23] - Total current liabilities were reported at CNY 798,920,199.58, reflecting a stable financial position[43] - Total liabilities reached $803,870,961.22, with current liabilities at $801,028,659.80[48] Shareholder Information - The total number of shareholders reached 17,679 at the end of the reporting period[11] - The largest shareholder, Shaoxing Deneng Fireproof Materials Co., Ltd., holds 44.38% of the shares[11] Cash and Cash Equivalents - Cash and cash equivalents decreased by 49.15% to ¥90,779,678.14 due to a significant decline in cash received from sales during the COVID-19 pandemic[13] - The company's cash and cash equivalents were reported at ¥90,779,678.14, down from ¥178,519,813.23, a significant decrease of about 49.3%[21] - The company ended Q1 2020 with cash and cash equivalents of 63,965,722.23 RMB, down from 97,325,795.35 RMB at the end of Q1 2019[38] Government Subsidies and Other Income - The company received government subsidies amounting to CNY 2,328,517.42 during the reporting period[8] - Other income surged by 626.07% to ¥2,381,618.83, attributed to government subsidies during the pandemic[15] - Non-operating income and expenses resulted in a net gain of CNY 2,050,355.18[9] Changes in Financial Reporting - The company adopted new revenue recognition standards starting January 1, 2020, impacting the accounting treatment of contract liabilities[44] - The company is adapting to new revenue and leasing standards starting from 2020, which may impact future financial reporting[40] - The company adopted the new revenue recognition standard starting January 1, 2020, with no significant impact on financial reporting[50] Inventory and Investments - Inventory increased to ¥442,957,431.26 from ¥398,095,438.73, representing a growth of approximately 11.2%[21] - Long-term equity investments were valued at CNY 18,561,314.13, suggesting ongoing investment strategies[42] Research and Development - Research and development expenses increased to ¥7,457,245.86 in Q1 2020, up from ¥6,000,378.92 in Q1 2019, reflecting a 24.3% increase[29]