SONGFA(SH:603268)2020-04-28 16:00Financial Performance - Net profit attributable to shareholders was CNY -4,493,595.06, a decline of 138.6% year-on-year[6] - Operating revenue fell by 47.1% to CNY 72,190,886.69 compared to the same period last year[6] - Basic earnings per share were CNY -0.04, down 144.44% from CNY 0.09 in the previous year[6] - The company reported a net profit of CNY 1,956,837.20 for Q1 2020, down from CNY 18,161,710.75 in Q1 2019, reflecting a decline of 89.2%[26] - The company's revenue for Q1 2020 was ¥28,280,388.43, a decrease of 50.4% compared to ¥56,919,340.89 in Q1 2019[30] - The net profit for Q1 2020 was ¥1,816,852.50, compared to a net profit of ¥110,098.02 in Q1 2019, representing a significant increase[30] - The operating profit for Q1 2020 was ¥1,513,028.89, up from ¥194,693.94 in Q1 2019, indicating a strong operational performance[30] - The total profit for Q1 2020 was ¥2,026,747.80, compared to ¥131,567.45 in Q1 2019, indicating a substantial improvement[30] Cash Flow - The net cash flow from operating activities increased by 8.56% to CNY 14,076,261.55 year-on-year[6] - Operating cash flow increased by 8.56% to RMB 14,076,261.55 in Q1 2020 compared to RMB 12,966,671.58 in Q1 2019[16] - The net cash flow from operating activities for Q1 2020 was CNY 14,076,261.55, an increase from CNY 12,966,671.58 in Q1 2019, reflecting a positive trend in operational efficiency[33] - Cash inflow from operating activities in Q1 2020 was ¥113,944,864.14, down from ¥168,208,006.53 in Q1 2019, reflecting a decrease of 32.2%[32] - Cash outflow for operating activities totaled CNY 99,868,602.59 in Q1 2020, compared to CNY 155,241,334.95 in Q1 2019, indicating a reduction of approximately 35.7%[33] - The net cash flow from financing activities showed a significant decrease, with a net outflow of CNY 18,059,649.50 in Q1 2020, compared to a net outflow of CNY 42,980,272.55 in Q1 2019, representing an improvement of about 58%[33] - The company reported a net cash flow from investment activities of CNY 4,925,984.69 in Q1 2020, a recovery from a negative cash flow of CNY 1,127,701.21 in Q1 2019, representing a substantial improvement[33] Assets and Liabilities - Total assets decreased by 3.96% to CNY 1,172,530,162.45 compared to the end of the previous year[6] - Total assets as of March 31, 2020, amounted to CNY 1,073,454,454.34, a decrease from CNY 1,084,389,758.19 at the end of 2019[23] - Total liabilities decreased to CNY 602,574,499.55 as of March 31, 2020, down from CNY 615,326,655.90 at the end of 2019, a reduction of 2.4%[24] - Trade financial assets rose by 42.78% to RMB 2,002,509.40 as of March 31, 2020, compared to RMB 1,402,509.40 at the end of 2019[12] - Accounts payable decreased by 52.29% to RMB 18,723,332.26 from RMB 39,244,615.31 at the end of 2019[12] - Prepayments increased by 83.41% to RMB 12,566,406.03 compared to RMB 6,851,508.49 at the end of 2019[12] - Long-term equity investments decreased by 16.67% to RMB 71,596,492.23 as of March 31, 2020, from RMB 85,941,784.84 at the end of 2019[19] Shareholder Information - The total number of shareholders was 6,787 at the end of the reporting period[10] - The largest shareholder, Hengli Group Co., Ltd., held 30.14% of the shares[10] Government Support and Non-Recurring Items - The company received government subsidies amounting to CNY 1,725,607.31 during the reporting period[8] - The company reported a total of CNY 2,030,588.65 in non-recurring gains and losses[8] Revenue and Costs - Total operating revenue for Q1 2020 was CNY 72,190,886.69, a decrease of 47.0% compared to CNY 136,386,520.22 in Q1 2019[26] - Total operating costs for Q1 2020 were CNY 73,325,181.71, down from CNY 119,572,839.46 in Q1 2019, reflecting a reduction of 38.7%[26] - Operating profit for Q1 2020 was CNY 1,441,925.90, significantly lower than CNY 18,225,940.41 in Q1 2019, indicating a decline of 92.1%[26] Other Income and Expenses - Other income surged by 209.48% to RMB 1,711,785.61 in Q1 2020 from RMB 553,115.66 in Q1 2019[14] - Research and development expenses for Q1 2020 were ¥889,436.66, a decrease from ¥1,118,229.35 in Q1 2019[30] - Financial expenses for Q1 2020 were ¥3,200,850.63, down from ¥4,446,221.63 in Q1 2019, showing a reduction in financial costs[30] - The company reported an investment income of ¥5,280,426.80 in Q1 2020, compared to ¥13,119.31 in Q1 2019[30]