A-Zenith(SH:603389)2020-04-27 16:00Financial Performance - Operating revenue fell by 50.58% to CNY 35,662,827.64 year-on-year[5] - Net profit attributable to shareholders was CNY 3,413,666.03, a significant recovery from a loss of CNY 22,762,246.81 in the same period last year[5] - Basic earnings per share was CNY 0.01, a recovery from -CNY 0.10 in the same period last year[5] - Revenue decreased by 50.58% year-on-year, mainly due to the impact of the pandemic on order shipments[12] - Operating costs decreased by 46.33% year-on-year, corresponding to the decline in sales[12] - Other income increased by 2,531.49% year-on-year, mainly due to government subsidies received during the period[15] - The company reported a net profit of CNY 5,159,180.17 in Q1 2020, compared to a net loss of CNY 6,147,849.45 in Q1 2019[27] - The company reported a total comprehensive income of CNY 11,307,029.62 for Q1 2020, compared to a comprehensive loss of CNY 13,274,997.04 in Q1 2019[34] Assets and Liabilities - Total assets decreased by 3.41% to CNY 797,056,597.73 compared to the end of the previous year[5] - Total assets as of March 31, 2020, amounted to CNY 708,304,917.56, down from CNY 740,580,613.71 at the end of 2019[27] - Total liabilities decreased to CNY 79,556,746.57 in Q1 2020 from CNY 123,139,472.34 in Q1 2019, a reduction of 35.4%[27] - Total cash and cash equivalents decreased by ¥362,691.08 in Q1 2020, contrasting with a significant drop of ¥108,663,917.23 in Q1 2019[38] - Total liabilities amounted to CNY 179,178,364.79, with current liabilities at CNY 147,143,586.30 and non-current liabilities at CNY 32,034,778.49[44] Cash Flow - Cash flow from operating activities improved to -CNY 19,783,650.03, compared to -CNY 23,630,677.33 in the previous year[5] - Cash inflows from operating activities totaled CNY 68,534,380.94 in Q1 2020, down from CNY 87,663,535.43 in Q1 2019[36] - The net cash flow from operating activities for Q1 2020 was -¥18,992,279.27, an improvement from -¥30,649,038.26 in Q1 2019, indicating a 38% reduction in cash outflow year-over-year[39] - Total cash inflow from investment activities was ¥43,064,335.14, while cash outflow was ¥33,634,950.98, resulting in a net cash flow of ¥9,429,384.16, compared to -¥80,134,504.12 in the previous year[39] Shareholder Information - The number of shareholders reached 14,039, with the largest shareholder holding 64.12% of the shares[9] - The company’s total equity increased to CNY 628,748,170.99 in Q1 2020 from CNY 617,441,141.37 in Q1 2019, reflecting a growth of 2.1%[27] - The total equity attributable to shareholders was CNY 655,012,430.46[44] Strategic Initiatives - The company plans to focus on market expansion and new product development in the upcoming quarters[5] - The company initiated a major asset restructuring to acquire 100% of Lianyungang Jinmei Smart Home Co., Ltd. to enhance profitability and maximize shareholder value[17] Other Financial Metrics - The weighted average return on net assets increased by 3.48 percentage points to 0.52%[5] - Non-recurring gains and losses totaled CNY 26,315,967.87, primarily from government subsidies and other income[9] - Research and development expenses for Q1 2020 were CNY 936,671.58, down from CNY 1,205,703.40 in Q1 2019, a decrease of 22.3%[29] - The company incurred research and development expenses of CNY 552,380.23 in Q1 2020, a decrease from CNY 823,437.45 in Q1 2019[33]