百达精工(603331) - 2020 Q1 - 季度财报

Financial Performance - Operating revenue decreased by 16.02% to CNY 172,864,517.90 compared to the same period last year[7] - Net profit attributable to shareholders decreased by 45.03% to CNY 10,410,029.05 compared to the same period last year[7] - Basic earnings per share decreased by 57.89% to CNY 0.08 compared to the same period last year[8] - The net profit margin decreased significantly, with operating profit dropping by 51.69% to $14.22 million[18] - Net profit for Q1 2020 decreased by 56.05% to ¥10,539,591.53 compared to ¥23,979,282.20 in the same period last year, primarily due to reduced operating income from the COVID-19 pandemic[19] - Total operating revenue for Q1 2020 was ¥172,864,517.90, a decrease of 16.0% compared to ¥205,846,389.09 in Q1 2019[37] - Net profit for Q1 2020 was ¥10,539,591.53, representing a decline of 56.0% from ¥23,979,282.20 in Q1 2019[39] - Operating profit for Q1 2020 was ¥14,216,085.73, a decrease of 51.7% compared to ¥29,423,849.12 in Q1 2019[37] Cash Flow - Cash flow from operating activities showed a significant decline of 128.06%, resulting in a negative cash flow of CNY -5,738,534.92[7] - Net cash flow from operating activities turned negative at -¥5,738,534.92, a decline of 128.06% from ¥20,449,765.45 in the previous year, mainly due to decreased sales volume and reduced cash receipts[21] - Net cash flow from investing activities was -¥122,028,130.97, an increase of 157.47% compared to -¥47,395,517.08, attributed to increased investment in new projects[21] - Net cash flow from financing activities increased by 443.1% to ¥326,035,424.83 from ¥60,032,823.36, primarily due to funds raised from the issuance of convertible bonds[21] - The cash inflow from financing activities was ¥397,144,518.79 in Q1 2020, up from ¥130,684,136.55 in Q1 2019, leading to a net cash flow of ¥326,035,424.83[45] Assets and Liabilities - Total assets increased by 20.34% to CNY 1,809,042,352.24 compared to the end of the previous year[7] - The total liabilities rose by 35.44% to $899.21 million, primarily due to the issuance of convertible bonds and an increase in short-term borrowings[17] - Non-current assets totaled ¥842,398,647.03, compared to ¥770,398,301.12, indicating an increase of about 9.3%[30] - Current liabilities rose to ¥567,657,825.89 from ¥549,225,557.14, reflecting a growth of approximately 3.9%[30] - Total liabilities increased to ¥899,207,243.97, up from ¥663,896,523.19, marking a significant rise of about 35.5%[31] Shareholder Information - The number of shareholders at the end of the reporting period was 7,971[12] - The largest shareholder, Baida Holdings Group Co., Ltd., holds 37.37% of the shares and has pledged 30,546,024 shares[12] Government Subsidies and Other Income - Government subsidies recognized in the period amounted to CNY 1,401,146.93, primarily related to social insurance refunds[9] - The company reported a total of CNY 451,261.92 in non-recurring gains and losses for the period[10] - Other income decreased significantly to ¥1,401,146.93 from ¥4,061,945.04 in the previous year[37] Inventory and Accounts Receivable - Accounts receivable decreased by 11.47% to $201.15 million, attributed to a decline in operating income[16] - Inventory increased by 8.29% to $226.31 million, mainly due to a decrease in sales orders and small-batch trial production of new products[16] - Accounts receivable decreased to ¥132,547,566.51 from ¥140,722,739.33, indicating a decline of about 5.5%[34] - Inventory increased to ¥105,521,692.51 from ¥98,309,232.41, reflecting a growth of approximately 7.5%[34] Future Outlook - The company plans to continue focusing on new product development and market expansion strategies in response to the current market challenges[18] - The company anticipates potential losses for the year due to the ongoing effects of the pandemic on sales and production capabilities[25]