Hexing(SH:603556)2020-04-29 16:00Financial Performance - Net profit attributable to shareholders of the listed company was approximately ¥60.48 million, down 21.30% year-on-year[4] - Operating revenue for the period was approximately ¥451.65 million, representing a decline of 14.19% compared to the same period last year[4] - Basic earnings per share were ¥0.12, down 25.00% from ¥0.16 in the same period last year[4] - The weighted average return on net assets decreased by 0.43 percentage points to 1.15%[4] - The company reported a significant increase in investment income by 66.66% to ¥15,393,143.92, attributed to higher returns from financial assets[10] - Total operating revenue for Q1 2020 was RMB 451,654,278.01, a decrease of 14.2% compared to RMB 526,320,804.16 in Q1 2019[18] - Net profit for Q1 2020 was RMB 58,459,144.18, a decline of 23.2% from RMB 76,088,121.36 in Q1 2019[19] - Total comprehensive income for Q1 2020 was RMB 38,720,987.09, a decrease of 53.8% from RMB 83,996,228.87 in Q1 2019[20] Cash Flow - The net cash flow from operating activities was negative at approximately -¥40.56 million, a decrease of 409.77% year-on-year[4] - Cash inflow from operating activities totaled approximately 766.87 million in Q1 2020, slightly up from 736.71 million in Q1 2019[24] - The net cash flow from operating activities was negative at approximately -40.56 million in Q1 2020, contrasting with a positive 13.09 million in Q1 2019[24] - The net cash flow from investment activities was approximately 608,034,775.88 RMB, a significant improvement compared to a negative cash flow of -40,367,968.21 RMB in the previous year[27] - Cash inflows from financing activities totaled 24,000,000.00 RMB, while cash outflows were significantly reduced to 3,374,572.15 RMB[27] Assets and Liabilities - Total assets at the end of the reporting period were approximately ¥6.66 billion, a decrease of 1.86% compared to the end of the previous year[4] - Total assets decreased to ¥6,659,602,868.83 from ¥6,785,839,638.17, reflecting a reduction in current assets[13] - Total liabilities decreased to approximately $1.17 billion from $1.14 billion, indicating a reduction of about 1.5%[16] - The total liabilities were reported at ¥1,137,008,754.46, with current liabilities totaling ¥785,532,531.43[33] - The company’s total non-current liabilities amounted to ¥351,476,223.03[33] Shareholder Information - The number of shareholders at the end of the reporting period was 25,590[7] - Zhejiang Haixing Holding Group Co., Ltd. held 48.88% of the shares, making it the largest shareholder[7] - The total equity attributable to shareholders reached ¥5,224,992,898.83, with total liabilities and equity amounting to ¥6,785,839,638.17[30] Investments and Expenses - Research and development expenses grew by 33.51% to ¥48,968,801.89, indicating increased investment in R&D[10] - Sales expenses for Q1 2020 were RMB 13,054,333.78, an increase of 33.1% compared to RMB 9,791,354.53 in Q1 2019[18] - The company reported non-operating income of approximately ¥19.32 million during the period[6] Inventory and Receivables - Accounts receivable increased by 40.05% to ¥36,977,781.80, attributed to increased collections during the period[9] - Inventory increased to approximately $249.89 million, compared to $185.43 million, representing a growth of about 34.7%[15] - Prepayments rose by 94.83% to ¥88,912,565.33, reflecting an increase in material stockpiling[9] Other Financial Metrics - The company reported a foreign exchange loss of RMB 62,691.47 in Q1 2020[19] - The company executed the new revenue recognition standards starting January 1, 2020, impacting the retained earnings and related financial statement items[33] - The company reported a comprehensive income of -¥46,691,842.47 for the period[30]