水发燃气(603318) - 2020 Q1 - 季度财报

Financial Performance - Operating revenue for the reporting period reached approximately CNY 138.06 million, representing a significant increase of 144.81% year-on-year[6] - The net profit attributable to shareholders of the listed company was approximately -CNY 9.84 million, an improvement from -CNY 25.99 million in the same period last year[6] - The weighted average return on net assets was -1.07%, improving from -2.54% in the same period last year[6] - The basic and diluted earnings per share were both -CNY 0.02, improving from -CNY 0.06 in the same period last year[6] - Net profit for the period was a loss of ¥9,636,464.69, an improvement from a loss of ¥25,617,677.68 in the same period last year[14] - The net loss for Q1 2020 was ¥9,636,464.69, an improvement compared to a net loss of ¥25,617,677.68 in Q1 2019, reflecting a reduction of 62.4%[31] - The comprehensive loss for Q1 2020 was ¥9,647,536.03, compared to a comprehensive loss of ¥25,913,312.33 in Q1 2019, showing a decrease of 62.8%[31] - Total operating revenue for Q1 2020 was ¥138,056,130.12, a significant increase from ¥56,392,579.93 in Q1 2019, representing a growth of 144.4%[29] Assets and Liabilities - Total assets at the end of the reporting period were approximately CNY 1.66 billion, an increase of 0.40% compared to the end of the previous year[6] - Current assets totaled RMB 696,142,313.68, compared to RMB 687,499,251.17 at the end of 2019, indicating an increase of about 1.0%[21] - The company's total liabilities reached RMB 761,010,581.34, up from RMB 745,062,542.77, reflecting an increase of approximately 2.1%[23] - Total liabilities amounted to 745,062,542.77 RMB, remaining stable compared to the previous year[44] - Total assets amounted to approximately $1.42 billion as of March 31, 2020[48] - Current assets totaled approximately $514.52 million, with cash and cash equivalents at approximately $42.64 million[47] - Non-current assets reached approximately $903.77 million, primarily driven by long-term equity investments of approximately $747.10 million[48] - Total liabilities were approximately $460.30 million, with current liabilities at approximately $206.53 million[48] Shareholder Information - The company had a total of 26,122 shareholders at the end of the reporting period[10] - The largest shareholder, Shui Fa Zhong Xing Group Co., Ltd., held 30.08% of the shares, with 120,950,353 shares pledged[10] - Energas Ltd. held 18.65% of the shares, with 75,000,600 shares also pledged[10] - Shareholders' equity stood at approximately $958.00 million, reflecting a strong capital position[49] Cash Flow - The net cash flow from operating activities was approximately CNY 413.26 thousand, a decrease of 98.76% compared to the previous year[6] - Cash flow from operating activities generated a net inflow of RMB 413,259.41, down from RMB 33,420,748.43 in Q1 2019[37] - Total cash inflow from operating activities was 82,844,174.04 RMB, down 81.6% from 445,976,462.50 RMB in the same period last year[39] - Cash outflow from operating activities totaled 103,539,881.45 RMB, a decrease of 68.2% compared to 325,677,876.34 RMB in Q1 2019[39] - The net cash flow from financing activities was 12,916,339.04 RMB, a turnaround from a net outflow of -58,480,428.64 RMB in the previous year[40] Operational Highlights - Operating costs rose by 154.03% to ¥126,407,686.90 from ¥49,761,817.59, attributed to the same factors as revenue growth[14] - The company reported non-recurring gains and losses totaling approximately CNY 208.42 thousand for the period[11] - Research and development expenses decreased to ¥157,687.04 in Q1 2020 from ¥2,484,749.21 in Q1 2019, a reduction of 93.7%[29] - Financial expenses for Q1 2020 were ¥7,797,566.11, down from ¥12,696,765.13 in Q1 2019, indicating a decrease of 38.5%[29] - The company incurred credit impairment losses of RMB 8,829,504.17 in Q1 2020, compared to RMB 5,296,368.11 in Q1 2019, an increase of 67.4%[33] Future Outlook - The company warns of potential losses in the upcoming reporting period, indicating uncertainty in performance improvement[19] - The company is facing uncertainty regarding the repayment of ¥62.5 million for the repurchase of OPRA gas turbines due to financial difficulties of the buyer[19] - The company is in the process of a non-public stock issuance to acquire 100% equity of Yinchuan Zhongyou Jingcheng Gas Co., Ltd. and repay bank loans[15] - The company has committed to a net profit of no less than ¥50 million, ¥60 million, and ¥70 million for the years 2019, 2020, and 2021 respectively, totaling ¥180 million over three years[16]