SGC(SH:603269)2020-04-28 16:00Financial Performance - Net profit attributable to shareholders decreased by 318.38% to a loss of CNY 14,803,369.54 compared to the same period last year[5] - Operating revenue dropped by 71.06% to CNY 35,291,277.55 year-on-year[5] - Basic and diluted earnings per share were both CNY -0.16, a decrease of 328.57% compared to the same period last year[6] - The total profit for Q1 2020 was a loss of RMB 14,796,815.01, compared to a profit of RMB 9,272,306.37 in the previous period, representing a decline of 259.58%[13] - The company's revenue decreased significantly, resulting in a net profit of -14,831,576.80 RMB, a decline of 347.55% compared to the previous period[14] - The net loss for Q1 2020 was CNY 14,831,576.80, contrasting with a net profit of CNY 5,991,317.57 in Q1 2019, marking a significant shift in profitability[34] - The gross profit margin for Q1 2020 was negative, with a gross profit of CNY -15,458,818.24, compared to CNY 37,984,710.45 in Q1 2019[34] - The company reported a significant increase in interest expenses, with CNY 3,215,601.31 in Q1 2020 compared to CNY 1,833,895.07 in Q1 2019, reflecting a rise of approximately 75%[34] Assets and Liabilities - Total assets increased by 3.73% to CNY 1,605,970,853.84 compared to the end of the previous year[5] - Total current assets increased to ¥1,243,916,725.36 as of March 31, 2020, up from ¥1,206,132,883.49 at the end of 2019, representing a growth of approximately 3.1%[23] - Total liabilities increased to ¥921,742,364.44 from ¥851,361,160.31, reflecting a rise of approximately 8.2%[25] - The total assets as of Q1 2020 were CNY 1,369,907,372.06, up from CNY 1,327,816,332.96 in Q1 2019, indicating an increase of about 3.2%[34] - The total liabilities as of Q1 2020 were CNY 744,705,394.69, an increase from CNY 694,451,226.55 in the previous year, representing a growth of about 7.2%[34] Cash Flow - Net cash flow from operating activities improved by 47.22% to a negative CNY 27,412,383.26 compared to the previous year[5] - The net cash flow from operating activities was -27,412,383.26 RMB, an improvement of 47.22% due to increased cash receipts from sales[14] - Financing activities generated a net cash inflow of CNY 29,516,287.97 in Q1 2020, compared to CNY 4,094,161.19 in Q1 2019, indicating a significant increase in financing[40] - Total cash inflow from financing activities increased to $90.46 million, up from $53 million in the previous period[43] - Cash outflow from operating activities totaled $138.51 million, an increase from $120.48 million in the previous year[43] Shareholder Information - The total number of shareholders reached 7,956 at the end of the reporting period[9] - The largest shareholder, Jin Ao Da, holds 19.16% of the shares, totaling 17,525,000 shares[9] Expenses - Operating cost for Q1 2020 was RMB 22,587,232.92, down 73.41% from RMB 84,960,240.77 in the previous period[13] - Research and development expenses decreased by 32.72% to RMB 1,675,408.47 from RMB 2,490,143.77 in the previous period[13] - The company reported a significant decrease in employee compensation payable, down 64.14% to RMB 4,725,670.09 from RMB 13,177,226.44 in the previous period[12] - Financial expenses increased by 96.87% to RMB 3,888,844.18 from RMB 1,975,362.20 in the previous period[13] - Payments for employee compensation amounted to $9.50 million, down from $10.72 million year-over-year[43] Investment and Development - The company has not disclosed any new product developments or market expansion strategies in this report[5] - The company plans to proceed with a share issuance following the approval from the China Securities Regulatory Commission[19] - Cash paid for fixed asset construction increased by 182.79% to 19,397,459.45 RMB, indicating ongoing investment in infrastructure[14] - The company incurred R&D expenses of CNY 1,675,408.47 in Q1 2020, compared to CNY 2,490,143.77 in Q1 2019, showing a decrease of approximately 32.6%[38] Taxation - The company experienced a 179.56% increase in tax payable, resulting in a negative balance of RMB 5,804,300.14, compared to RMB 7,295,269.63 in the previous period[12] - The company has reported a significant decrease in tax expenses due to reduced revenue[14] - Payments for taxes totaled $8.34 million, a decrease from $11.31 million in the previous period[43]