Elegant(SH:603221)2020-04-29 16:00Financial Performance - Operating revenue decreased by 7.92% to CNY 234,056,472.24 compared to the same period last year[5] - Net profit attributable to shareholders decreased by 25.89% to CNY 20,064,732.35 compared to the same period last year[5] - The weighted average return on equity decreased by 1.87 percentage points to 2.79%[5] - Basic earnings per share decreased by 26.67% to CNY 0.11 compared to the same period last year[5] - Total operating revenue for Q1 2020 was CNY 234,056,472.24, a decrease of 7.4% compared to CNY 254,198,333.89 in Q1 2019[23] - The company reported a net profit of CNY 445,013,208.47 for Q1 2020, compared to CNY 424,109,429.66 in Q1 2019, reflecting a growth of 4.9%[22] - Net profit for Q1 2020 was CNY 20.06 million, down 26.0% from CNY 27.07 million in Q1 2019[25] - Total profit for Q1 2020 was CNY 26.82 million, a decrease of 24.7% from CNY 35.58 million in Q1 2019[24] Assets and Liabilities - Total assets increased by 71.17% to CNY 1,665,257,987.66 compared to the end of the previous year[5] - Total assets reached CNY 1,817,462,286.69, up from CNY 1,124,242,479.81, indicating a growth of 61.7%[22] - The total liabilities decreased to CNY 223,883,492.14 from CNY 262,860,860.49, a reduction of 14.8%[22] - Total liabilities reached CNY 263,064,086.87, with non-current liabilities at CNY 9,795,558.62[35] - Current liabilities totaled CNY 253,268,528.25, including short-term borrowings of CNY 46,600,000.00 and accounts payable of CNY 95,982,990.79[34] Shareholder Information - Net assets attributable to shareholders increased by 103.03% to CNY 1,441,189,607.56 compared to the end of the previous year[5] - The total number of shareholders at the end of the reporting period was 42,115[10] - The largest shareholder, Zhangjiagang Bohua Enterprise Management Co., Ltd., held 64.50% of the shares[10] - The equity attributable to shareholders increased to CNY 1,593,578,794.55 from CNY 861,381,619.32, representing an increase of 84.9%[22] Cash Flow - The net cash flow from operating activities was negative at CNY -26,162,432.04, a decrease of 16.09% compared to the same period last year[5] - The total cash inflow from operating activities was CNY 298,667,233.29, a slight increase from CNY 289,299,213.05 in Q1 2019, representing a growth of approximately 1.4%[28] - The net cash flow from financing activities reached ¥706,737,134.01, a 2479.32% increase from -¥29,703,284.48, driven by funds raised from new share issuance[13] - Cash outflow from investing activities totaled CNY 68,120,170.04, significantly higher than CNY 8,733,658.49 in Q1 2019, marking an increase of approximately 679.5%[29] Investments and Expenses - Research and development expenses for Q1 2020 were CNY 2.59 million, a decrease of 16.7% from CNY 3.11 million in Q1 2019[24] - The company reported a credit impairment loss of CNY 1.29 million in Q1 2020, compared to CNY 0.32 million in Q1 2019[24] - The company reported non-recurring gains and losses totaling CNY 280,573.74 for the period[8] - The company reported a 38.54% decrease in tax and additional charges to ¥1,243,592.10 from ¥2,023,395.50, mainly due to reduced VAT offsets[13] Capital and Reserves - The company's capital reserve surged by 1286.24% to ¥701,928,865.27 from ¥50,635,468.85, mainly due to share premium from new stock issuance[13] - The company reported a capital reserve of CNY 50,635,468.85 and a surplus reserve of CNY 47,123,269.96[35] Other Financial Metrics - Employee compensation payable decreased by 63.98% to ¥9,775,174.87 from ¥27,138,797.48, primarily due to the payment of last year's bonuses[12] - The company recorded a significant increase in asset disposal income, rising by 3173.00% to ¥378,317.96 from -¥12,311.04, due to higher gains from fixed asset disposals[13] - The company has ongoing construction projects with capitalized costs of CNY 125,136,164.95, up from CNY 51,321,165.59, indicating a focus on expansion[21] - The company’s long-term investments remained stable at CNY 188,013,450.85, unchanged from the previous period[21] Revenue Recognition - The company implemented the new revenue recognition standard starting January 1, 2020, affecting the classification of customer prepayments as contract liabilities[39]